Funding you earn now, next payment 01:00 UTC−0.0179%/8h= −19.6% APRpaid last 24h +0.050%
Price spread now: BingX against Kraken Futures+0.027%7-day average −0.016% · you sell dearer than you buy
Net, funding: paid 7d − costs−$76as in the Funding arb table
Net, price: spread back to 7d avg − costs−$67as in the Price arb table
costs, in and out, $10k−$720.716% of the position
Funding, last 7 days−0.045%−$4 on $10k
+Price spread, last 3 days (all we have)−0.066%−$7 · spread now +0.027%, 7d avg −0.016%
=The price spread pays, funding is against you. BingX is 0.042% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.027% now, against its 7-day average of −0.016%): +$4 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 19 hours. At the pace of the last 7 days (−0.045% in total) that is about 6.6 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_SHIBUSD | 0.000006050 | 0.0259 | pay 0.0032% / 1h | 57m 07s | $1.1M | $824K | 50x |
| Short | BingX 1000SHIB-USDC | 0.000006052 | 0.0080 | get 0.0080% / 8h | 7h 57m | — | $1.6M | — |
Kraken Futures PF_SHIBUSD
BingX 1000SHIB-USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX 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
- −$37.66
- Price spread: +0.027% → −0.016%
- $4.24
- Slippage, 4 orders
- −$51.6
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$105.02
- Costs to cover
- 0.716%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 1 min ago; BingX: live order book, 10 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, 1 min ago | 4.14 bp | 17.9 bp −$18 | 34.5 bp −$345 | doesn't fit | doesn't fit |
| Sell BingX live order book, 10 min ago | 2.50 bp | 17.8 bp −$18 | 48.9 bp −$489 | 259.8 bp −$26.0K | 941.5 bp −$470.7K |
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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX SHIB-USD | 0.0000% | 1h | 0.000006040 | −0.172% | $23K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000006046 | −0.066% | $88K | $2.0M | 2x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S −0.0001% | 1h | 0.000006053 | +0.035% | $736 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | −0.172% | $248 | $134K | 5.5x | as long as short |
| Coinbase International 1000SHIB-PERP-INTX | +0.0064% | 1h | 0.000006040 | −0.172% | $76K | $801K | 50x | as long as short |
| BingX 1000SHIB-USDCshort | +0.0080% | 8h | 0.000006052 | +0.027% | — | $1.6M | — | |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006053 | +0.043% | $181K | $325K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006051 | +0.005% | $35K | $177K | 50x | as long as short |
| Pacifica kSHIB | +0.0100% | 1h | 0.000006046 | −0.073% | $12K | $4K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006050 | −0.008% | $29.6M | $96.7M | 75x | as long as short |
dYdX SHIB-USD
Kalshi KXKSHIBPERP
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
Coinbase International 1000SHIB-PERP-INTX
Lighter 1000SHIB
Aster 1000SHIBUSDT
Pacifica kSHIB
Binance 1000SHIBUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000006048 | −0.040% | $8.7M | $33.1M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006049 | −0.023% | $6.9M | $5.4M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006050 | −0.006% | $31.4M | $16.6M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006050 | −0.006% | $4.9M | $2.6M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006049 | −0.023% | $11.5M | $13.5M | 75x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0100% | 1h | 0.000006051 | +0.010% | $25K | $6K | 15x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006051 | +0.010% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006060 | +0.159% | $2K | $24K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006052 | +0.027% | $545 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006050 | −0.006% | $413K | $614K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000006050 | −0.006% | $2.1M | $6.1M | 50x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0103% | 8h | 0.000006048 | −0.036% | $7K | — | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006050 | −0.009% | $54K | $4K | 25x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000006000 | −0.833% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006049 | −0.023% | $800K | $943K | 50x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | +0.0246% | 1h | 0.000006054 | +0.060% | $46K | $65K | 25x | as long as short |
| Kraken Futures PF_SHIBUSDlong | +0.0259% | 1h | 0.000006050 | long leg | $1.1M | $824K | 50x | |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006050 | −0.008% | $1 | — | 20x | as long as short |
| Hyperliquid kSHIB | +0.0692% | 1h | 0.000006058 | +0.126% | $4.4M | $4.0M | 10x | as long as short |
OKX SHIB-USDT-SWAP
Gate SHIB_USDT
MEXC SHIB_USDT
KuCoin SHIBUSDTM
Bitget SHIBUSDT
Backpack kSHIB_USDC_PERP
Orderly PERP_1000SHIB_USDC
SunX SHIB-USDT
SoDEX 1000SHIB-USD
HTX SHIB-USDT
Phemex u1000SHIBUSDT
Paradex kSHIB-USD-PERP
Extended 1000SHIB-USD
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Deribit 1000SHIB_USDC-PERPETUAL
Reya kSHIBRUSDPERP
Hyperliquid kSHIB