Funding you earn now, next payment 07:00 UTC+0.0473%/8h= +51.8% APRpaid last 24h +0.028%
Price spread now: OKX against Kraken Futures−0.133%55s7-day average −0.009% · you buy dearer than you sell
Net, funding: paid 7d − costs−$48as 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−$590.586% of the position
Funding, last 7 days+0.101%+$10 on $10k
+Price spread, last 4 days (all we have)+0.155%+$15 · spread now −0.133%, 7d avg −0.009%
=Funding pays, the price is against you. OKX is 0.123% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.133% now, against its 7-day average of −0.009%). If the spread goes back, that is −$12 on $10k: about 21 hours of funding at the current rate (+$14 a day). At the pace of the last 7 days (+0.101% in total) that is about 8.5 days. The two prices were read 55 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 0.101% in total (about 5.3% 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 | 0.000006029 | −0.0373 | get 0.0047% / 1h | 5m 25s | $1.2M | $1.0M | 50x |
| Short | OKX SHIB-USDT-SWAP | 0.000006021 | 0.0100 | get 0.0100% / 8h | 1h 05m | $9.2M | $43.3M | 50x |
Kraken Futures PF_SHIBUSD
OKX SHIB-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- $99.31
- Price spread: −0.133% → −0.009%
- −$12.32
- Slippage, 4 orders
- −$38.58
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- $28.41
- Costs to cover
- 0.586%
- Break-even
- 5.0 days
Slippage from Kraken Futures: live order book, 3 min ago; OKX: 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 | 4.15 bp | 21.7 bp −$22 | 33.9 bp −$339 | doesn't fit | doesn't fit |
| Sell OKX live order book, 3 min ago | 0.83 bp | 9.9 bp −$10 | 24.5 bp −$245 | 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 | −0.0373% | 1h | 0.000006029 | long leg | $1.2M | $1.0M | 50x | |
| Coinbase International 1000SHIB-PERP-INTX | −0.0088% | 1h | 0.000006016 | −0.216% | $117K | $1.6M | 50x | as long as short |
| dYdX SHIB-USD | 0.0000% | 1h | 0.000006026 | −0.052% | $24K | $56K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000006035 | +0.104% | $106K | $3.2M | 2x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | 0.0000% | 1h | 0.000006029 | 0.000% | $47K | $62K | 25x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000006020 | −0.144% | $568 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | +0.182% | $248 | $134K | 5.5x | as long as short |
| BingX 1000SHIB-USDC | +0.0070% | 8h | 0.000006024 | −0.083% | — | $1.6M | — | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006032 | +0.050% | $157K | $641K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006023 | −0.106% | $41K | $336K | 50x | as long as short |
Coinbase International 1000SHIB-PERP-INTX
dYdX SHIB-USD
Kalshi KXKSHIBPERP
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 | 0.000006029 | 0.000% | $12K | $5K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006023 | −0.096% | $30.2M | $127.2M | 75x | as long as short |
| OKX SHIB-USDT-SWAPshort | +0.0100% | 8h | 0.000006021 | −0.133% | $9.2M | $43.3M | 50x | |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006021 | −0.133% | $7.1M | $7.4M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006021 | −0.133% | $28.2M | $19.8M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006023 | −0.100% | $4.7M | $3.2M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006024 | −0.083% | $11.4M | $17.2M | 75x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0100% | 1h | 0.000006037 | +0.133% | $23K | $8K | 15x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006021 | −0.133% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006043 | +0.232% | $2K | $27K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006030 | +0.017% | $515 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006030 | +0.017% | $411K | $575K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000006031 | +0.033% | $2.1M | $7.6M | 50x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006023 | −0.099% | $53K | $4K | 25x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0106% | 8h | 0.000006029 | +0.007% | $7K | $13 | 20x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0212% / S −0.2404% | 1h | 0.000006000 | −0.481% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006028 | −0.017% | $861K | $937K | 50x | as long as short |
| Hyperliquid kSHIB | +0.0224% | 1h | 0.000006034 | +0.083% | $3.6M | $5.4M | 10x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006023 | −0.099% | $1 | — | 20x | as long as short |
Pacifica kSHIB
Binance 1000SHIBUSDT
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