Funding you earn now, next payment 07:00 UTC+0.0374%/8h= +41.0% APRpaid last 24h −0.002%
Price spread now: Kalshi against Kraken Futures+0.040%7-day average −0.030% · you sell dearer than you buy
Net, funding: paid 7d − costs−$65as in the Funding arb table
Net, price: spread back to 7d avg − costs−$53as in the Price arb table
costs, in and out, $10k−$610.606% of the position
Funding, last 7 days−0.041%−$4 on $10k
+Price spread, last 4 days (all we have)−0.047%−$5 · spread now +0.040%, 7d avg −0.030%
=Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Kalshi is 0.071% dearer against Kraken Futures than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.030%.
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 | 0.000006011 | −0.0374 | get 0.0047% / 1h | 2m 03s | $1.1M | $1.0M | 50x |
| Short | Kalshi KXKSHIBPERP | 0.000006013 | 0 | get 0.0000% / 8h | 5h 02m | $106K | $3.2M | 2x |
Kraken Futures PF_SHIBUSD
Kalshi KXKSHIBPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kalshi 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
- $78.55
- Price spread: +0.040% → −0.030%
- $7.07
- Slippage, 4 orders
- −$40.55
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Net
- $25.06
- Costs to cover
- 0.606%
- Break-even
- 4.8 days
Slippage from Kraken Futures: live order book, 1 min ago; Kalshi: live order book, 1 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 | 1.66 bp | 14.5 bp −$15 | 30.6 bp −$306 | doesn't fit | doesn't fit |
| Sell Kalshi live order book, 1 min ago | 7.31 bp | 12.3 bp −$12 | 19.3 bp −$193 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_SHIBUSDlong | −0.0374% | 1h | 0.000006011 | long leg | $1.1M | $1.0M | 50x | |
| Coinbase International 1000SHIB-PERP-INTX | −0.0088% | 1h | 0.000006016 | +0.085% | $117K | $1.6M | 50x | as long as short |
| dYdX SHIB-USD | 0.0000% | 1h | 0.000006015 | +0.065% | $24K | $56K | 10x | as long as short |
| Kalshi KXKSHIBPERPshort | 0.0000% | 8h | 0.000006013 | +0.040% | $106K | $3.2M | 2x | |
| Deribit 1000SHIB_USDC-PERPETUAL | 0.0000% | 1h | 0.000006013 | +0.035% | $47K | $62K | 25x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000006011 | +0.009% | $567 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | +0.485% | $248 | $134K | 5.5x | as long as short |
| BingX 1000SHIB-USDC | +0.0070% | 8h | 0.000006015 | +0.069% | — | $1.6M | — | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006016 | +0.085% | $156K | $641K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006011 | +0.010% | $41K | $336K | 50x | as long as short |
Coinbase International 1000SHIB-PERP-INTX
dYdX SHIB-USD
Deribit 1000SHIB_USDC-PERPETUAL
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
BingX 1000SHIB-USDC
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 | 0.000006014 | +0.052% | $12K | $5K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006014 | +0.052% | $30.1M | $127.2M | 75x | as long as short |
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000006013 | +0.035% | $9.2M | $43.3M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006010 | −0.014% | $7.1M | $7.4M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006011 | +0.002% | $28.1M | $19.8M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006010 | −0.014% | $4.6M | $3.2M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006013 | +0.035% | $11.4M | $17.2M | 75x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0100% | 1h | 0.000006015 | +0.069% | $23K | $8K | 15x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006013 | +0.035% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006024 | +0.218% | $2K | $27K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006014 | +0.052% | $509 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006022 | +0.185% | $410K | $575K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000006010 | −0.014% | $2.1M | $7.7M | 50x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006010 | −0.017% | $53K | $4K | 25x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0105% | 8h | 0.000006015 | +0.067% | $7K | $13 | 20x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0212% / S −0.2404% | 1h | 0.000006000 | −0.181% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006018 | +0.119% | $861K | $935K | 50x | as long as short |
| Hyperliquid kSHIB | +0.0225% | 1h | 0.000006022 | +0.185% | $3.6M | $5.4M | 10x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006011 | −0.006% | $1 | — | 20x | as long as short |
Pacifica kSHIB
Binance 1000SHIBUSDT
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
Extended 1000SHIB-USD
Paradex kSHIB-USD-PERP
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Hyperliquid kSHIB
Reya kSHIBRUSDPERP