Funding you earn now, next payment 02:00 UTC−0.0658%/8h= −72.1% APRpaid last 24h +0.040%
Price spread now: Bitget against Kraken Futures+0.142%48s7-day average +0.002% · you sell dearer than you buy
Net, funding: paid 7d − costs−$56as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$610.609% of the position
Funding, last 7 days+0.048%+$5 on $10k
+Price spread, last 3 days (all we have)−0.102%−$10 · spread now +0.142%, 7d avg +0.002%
=The price spread pays, funding is against you. Bitget is 0.140% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.142% now, against its 7-day average of +0.002%): +$14 on $10k if it goes back. Holding the pair costs −$20 a day in funding at the current rate, which eats that in about 17 hours. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.048% in total (about 2.5% 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 | 0.000006005 | 0.0758 | pay 0.0095% / 1h | 50m 33s | $1.1M | $843K | 50x |
| Short | Bitget SHIBUSDT | 0.000006014 | 0.0100 | get 0.0100% / 8h | 6h 50m | $11.3M | $14.3M | 75x |
Kraken Futures PF_SHIBUSD
Bitget SHIBUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget 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
- −$138.27
- Price spread: +0.142% → +0.002%
- $14
- Slippage, 4 orders
- −$38.95
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$185.22
- Costs to cover
- 0.609%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 3 min ago; Bitget: 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, 3 min ago | 4.16 bp | 17.4 bp −$17 | 29.6 bp −$296 | doesn't fit | doesn't fit |
| Sell Bitget live order book, 3 min ago | 1.67 bp | 12.7 bp −$13 | 30.6 bp −$306 | 128.8 bp −$12.9K | doesn't fit |
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 | 0.000006016 | +0.178% | $23K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000006005 | −0.016% | $190K | $2.3M | 2x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S −0.0001% | 1h | 0.000006001 | −0.078% | $730 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | +0.575% | $248 | $134K | 5.5x | as long as short |
| Coinbase International 1000SHIB-PERP-INTX | +0.0072% | 1h | 0.000005986 | −0.324% | $149K | $972K | 50x | as long as short |
| BingX 1000SHIB-USDT | +0.0080% | 8h | 0.000006017 | +0.192% | — | $2.1M | — | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006022 | +0.275% | $237K | $470K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006018 | +0.211% | $37K | $183K | 50x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006018 | +0.203% | $29.4M | $100.8M | 75x | as long as short |
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000006019 | +0.225% | $9.1M | $35.5M | 50x | as long as short |
dYdX SHIB-USD
Kalshi KXKSHIBPERP
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
Coinbase International 1000SHIB-PERP-INTX
BingX 1000SHIB-USDT
Lighter 1000SHIB
Aster 1000SHIBUSDT
Binance 1000SHIBUSDT
OKX SHIB-USDT-SWAPShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006014 | +0.142% | $7.0M | $5.6M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006016 | +0.175% | $30.8M | $17.3M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006020 | +0.242% | $4.9M | $2.7M | 75x | as long as short |
| Bitget SHIBUSDTshort | +0.0100% | 8h | 0.000006014 | +0.142% | $11.3M | $14.3M | 75x | |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006008 | +0.042% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006013 | +0.125% | $2K | $24K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006007 | +0.025% | $530 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006007 | +0.025% | $413K | $604K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0103% | 8h | 0.000006006 | +0.009% | $2.1M | $6.5M | 50x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006016 | +0.170% | $53K | $4K | 25x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0129% | 8h | 0.000006021 | +0.258% | $7K | $13 | 20x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0130% | 1h | 0.000006009 | +0.059% | $23K | $7K | 15x | as long as short |
| Pacifica kSHIB | +0.0183% | 1h | 0.000006020 | +0.242% | $12K | $4K | 10x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000006000 | −0.091% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006005 | −0.008% | $871K | $934K | 50x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | +0.0250% | 1h | 0.000006008 | +0.042% | $46K | $65K | 25x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006015 | +0.160% | $1 | — | 20x | as long as short |
| Hyperliquid kSHIB | +0.0625% | 1h | 0.000006021 | +0.259% | $3.8M | $4.5M | 10x | as long as short |
| Kraken Futures PF_SHIBUSDlong | +0.0758% | 1h | 0.000006005 | long leg | $1.1M | $843K | 50x |
Gate SHIB_USDT
MEXC SHIB_USDT
KuCoin SHIBUSDTM
Orderly PERP_1000SHIB_USDC
SunX SHIB-USDT
SoDEX 1000SHIB-USD
HTX SHIB-USDT
Phemex u1000SHIBUSDT
Extended 1000SHIB-USD
Paradex kSHIB-USD-PERP
Backpack kSHIB_USDC_PERP
Pacifica kSHIB
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Deribit 1000SHIB_USDC-PERPETUAL
Reya kSHIBRUSDPERP
Hyperliquid kSHIB