Funding you earn now, next payment 10:00 UTC+0.0060%/8h= +6.6% APRnext payment +$0.07 per $10,000 · paid last 24h +0.008%
Price spread now: Lighter against Kraken Futures+0.074%7-day average +0.014% · you sell dearer than you buy
Net, funding: paid 7d − costs−$58as in the Funding arb table
Net, price: spread back to 7d avg − costs−$50as in the Price arb table
costs, in and out, $10k−$560.556% of the position
Funding, last 7 days−0.028%−$3 on $10k
+Price spread, last 4 days (all we have)−0.069%−$7 · spread now +0.074%, 7d avg +0.014%
=Together, before fees−0.098%+ Points / potential airdropLighter: Season 3 · farm board−$10 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Lighter is 0.060% dearer against Kraken Futures than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.014%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_SHIBUSD | 0.000006068 | 0.0036 | pay 0.0005% / 1h | 19m 19s | $1.2M | $1.0M | 50x |
| Short | Lighter 1000SHIB | 0.000006072 | 0.0096 | get 0.0012% / 1h | 19m 19s | $156K | $625K | 10x |
Kraken Futures PF_SHIBUSD
Lighter 1000SHIBFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- $12.57
- Price spread: +0.074% → +0.014%
- $5.97
- Slippage, 4 orders
- −$45.58
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$37.04
- Costs to cover
- 0.556%
- Break-even
- 27.6 days
Slippage from Kraken Futures: live order book, 2 min ago; Lighter: live order book, 28 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, 2 min ago | 2.47 bp | 20.5 bp −$21 | 35.6 bp −$356 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 28 min ago | 2.47 bp | 10.0 bp −$10 | 71.0 bp −$710 | doesn't fit | doesn't fit |
SHIB on 29 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International 1000SHIB-PERP-INTX | −0.0080% | 1h | 0.000006071 | +0.057% | $132K | $1.7M | 50x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000006074 | +0.113% | $80K | $3.5M | 2x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000006066 | −0.020% | $573 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | −0.454% | $248 | $134K | 5.5x | as long as short |
| Kraken Futures PF_SHIBUSDlong | +0.0036% | 1h | 0.000006068 | long leg | $1.2M | $1.0M | 50x | |
| BingX 1000SHIB-USDC | +0.0070% | 8h | 0.000006067 | −0.009% | — | $1.7M | — | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | +0.0080% | 1h | 0.000006068 | +0.008% | $49K | $46K | 25x | as long as short |
| Lighter 1000SHIBshort | +0.0096% | 1h | 0.000006072 | +0.074% | $156K | $625K | 10x | |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006072 | +0.067% | $40K | $288K | 50x | as long as short |
| Pacifica kSHIB | +0.0100% | 1h | 0.000006070 | +0.041% | $12K | $5K | 10x | as long as short |
Coinbase International 1000SHIB-PERP-INTX
Kalshi KXKSHIBPERP
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
BingX 1000SHIB-USDC
Deribit 1000SHIB_USDC-PERPETUAL
Aster 1000SHIBUSDT
Pacifica kSHIBShow all 29 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006071 | +0.057% | $31.5M | $129.4M | 75x | as long as short |
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000006066 | −0.025% | $9.7M | $46.7M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006065 | −0.042% | $7.1M | $6.8M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006069 | +0.024% | $28.3M | $20.2M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006068 | +0.008% | $4.7M | $3.2M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006066 | −0.025% | $11.4M | $17.7M | 75x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0100% | 1h | 0.000006072 | +0.074% | $23K | $9K | 15x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006067 | −0.009% | $7K | $2K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006080 | +0.205% | $2K | $26K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006068 | +0.008% | $523 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006079 | +0.189% | $417K | $479K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000006071 | +0.057% | $2.1M | $7.7M | 50x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0101% | 8h | 0.000006068 | +0.005% | $7K | $13 | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006065 | −0.048% | $54K | $4K | 25x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0212% / S −0.2404% | 1h | 0.000006000 | −1.113% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006080 | +0.205% | $930K | $931K | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006071 | +0.065% | $1 | — | 20x | as long as short |
| Hyperliquid kSHIB | +0.0379% | 1h | 0.000006078 | +0.172% | $3.7M | $5.2M | 10x | as long as short |
| dYdX SHIB-USD | +0.8545% | 1h | 0.000006067 | −0.012% | $32K | $64K | 10x | as long as short |
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
Paradex kSHIB-USD-PERP
Extended 1000SHIB-USD
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Reya kSHIBRUSDPERP
Hyperliquid kSHIB
dYdX SHIB-USD