Funding you earn now, next payment 04:00 UTC+0.0449%/8h= +49.2% APRpaid last 24h +0.025%
Price spread now: Binance against Kraken Futures−0.085%7-day average +0.038% · you buy dearer than you sell
Net, funding: paid 7d − costs−$56as in the Funding arb table
Net, price: spread back to 7d avg − costs−$72as in the Price arb table
costs, in and out, $10k−$600.602% of the position
Funding, last 7 days+0.041%+$4 on $10k
+Price spread, last 4 days (all we have)+0.139%+$14 · spread now −0.085%, 7d avg +0.038%
=Funding pays, the price is against you. Binance is 0.123% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.085% now, against its 7-day average of +0.038%). If the spread goes back, that is −$12 on $10k: about 22 hours of funding at the current rate (+$13 a day). At the pace of the last 7 days (+0.041% in total) that is about 21 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.041% in total (about 2.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_SHIBUSD | 0.000006027 | −0.0349 | get 0.0044% / 1h | 24m 47s | $1.1M | $931K | 50x |
| Short | Binance 1000SHIBUSDT | 0.000006022 | 0.0100 | get 0.0100% / 8h | 4h 24m | $29.6M | $104.3M | 75x |
Kraken Futures PF_SHIBUSD
Binance 1000SHIBUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Kraken Futures. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $94.34
- Price spread: −0.085% → +0.038%
- −$12.28
- Slippage, 4 orders
- −$40.22
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- $21.84
- Costs to cover
- 0.602%
- Break-even
- 5.4 days
Slippage from Kraken Futures: live order book, 4 min ago; Binance: live order book, 3 min ago.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Kraken Futures live order book, 4 min ago | 4.14 bp | 20.8 bp −$21 | 30.0 bp −$300 | doesn't fit | doesn't fit |
| Sell Binance live order book, 3 min ago | 0.83 bp | 8.6 bp −$9 | 19.4 bp −$194 | 56.2 bp −$5,618 | 158.1 bp −$79.0K |
SHIB on 29 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_SHIBUSDlong | −0.0349% | 1h | 0.000006027 | long leg | $1.1M | $931K | 50x | |
| Coinbase International 1000SHIB-PERP-INTX | −0.0088% | 1h | 0.000006010 | −0.284% | $126K | $1.1M | 50x | as long as short |
| dYdX SHIB-USD | 0.0000% | 1h | 0.000006020 | −0.121% | $23K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000006029 | +0.028% | $194K | $2.3M | 2x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000006026 | −0.012% | $569 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | +0.213% | $248 | $134K | 5.5x | as long as short |
| BingX 1000SHIB-USDC | +0.0080% | 8h | 0.000006019 | −0.135% | — | $1.6M | — | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | +0.0082% | 1h | 0.000006030 | +0.047% | $46K | $58K | 25x | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006021 | −0.102% | $160K | $608K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006019 | −0.128% | $40K | $321K | 50x | as long as short |
Coinbase International 1000SHIB-PERP-INTX
dYdX SHIB-USD
Kalshi KXKSHIBPERP
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
BingX 1000SHIB-USDC
Deribit 1000SHIB_USDC-PERPETUAL
Lighter 1000SHIB
Aster 1000SHIBUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica kSHIB | +0.0100% | 1h | 0.000006030 | +0.047% | $12K | $5K | 10x | as long as short |
| Binance 1000SHIBUSDTshort | +0.0100% | 8h | 0.000006022 | −0.085% | $29.6M | $104.3M | 75x | |
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000006021 | −0.102% | $9.4M | $36.9M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006017 | −0.168% | $7.0M | $5.9M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006021 | −0.102% | $30.1M | $17.8M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006016 | −0.185% | $4.8M | $2.7M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006018 | −0.152% | $11.4M | $14.6M | 75x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006031 | +0.064% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006041 | +0.230% | $2K | $24K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006029 | +0.031% | $474 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006028 | +0.014% | $411K | $557K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000006031 | +0.064% | $2.1M | $6.9M | 50x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006020 | −0.116% | $53K | $4K | 25x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0118% | 8h | 0.000006036 | +0.141% | $7K | $13 | 20x | as long as short |
| Hyperliquid kSHIB | +0.0135% | 1h | 0.000006026 | −0.019% | $3.6M | $4.8M | 10x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0151% | 1h | 0.000006021 | −0.102% | $23K | $7K | 15x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000006000 | −0.450% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006030 | +0.047% | $871K | $896K | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006032 | +0.080% | $1 | — | 20x | as long as short |
Pacifica kSHIB
OKX SHIB-USDT-SWAP
Gate SHIB_USDT
MEXC SHIB_USDT
KuCoin SHIBUSDTM
Bitget SHIBUSDT
Orderly PERP_1000SHIB_USDC
SunX SHIB-USDT
SoDEX 1000SHIB-USD
HTX SHIB-USDT
Phemex u1000SHIBUSDT
Extended 1000SHIB-USD
Paradex kSHIB-USD-PERP
Hyperliquid kSHIB
Backpack kSHIB_USDC_PERP
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Reya kSHIBRUSDPERP