Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0655%/8h= −71.7% APRpaid last 24h +0.040%

Price spread now: SunX against Kraken Futures+0.212%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on SunX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. SunX is 0.212% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.212% now, against zero (this spread has no 7-day history yet)): +$21 on $10k if it goes back. Holding the pair costs −$20 a day in funding at the current rate, which eats that in about 26 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SHIBUSD	0.000006035	0.0755	pay 0.0094% / 1h	1m 25s	$1.1M	$889K	50x
Short	SunX SHIB-USDT	0.000006048	0.0100	get 0.0100% / 8h	6h 01m	$2K	$24K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee SunXbpOrdersPrice spread, now +0.212%Rate

Funding earned: −$137.49
Price spread: +0.212% → 0.000%: $21.19
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$134.29
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Kraken Futures: live order book, 2 min ago; SunX: no order-book sample. Net counts fees only.

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	4.15 bp	17.2 bp −$17	27.0 bp −$270	doesn't fit	doesn't fit
Sell SunX no order-book sample	—	—	—	—	—

SunX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

SHIB on 28 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	0.000006030	−0.090%	$23K	$64K	10x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000006031	−0.063%	$194K	$2.3M	2x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S −0.0001%	1h	0.000006031	−0.065%	$734	—	150x	as long as short
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	+0.079%	$248	$134K	5.5x	as long as short
Coinbase International 1000SHIB-PERP-INTX	+0.0072%	1h	0.000006021	−0.235%	$135K	$1.1M	50x	as long as short
BingX 1000SHIB-USDC	+0.0080%	8h	0.000006030	−0.086%	—	$1.6M	—	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000006029	−0.103%	$162K	$611K	10x	as long as short
Hyperliquid kSHIB	+0.0100%	1h	0.000006035	−0.003%	$3.7M	$4.7M	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000006030	−0.092%	$92K	$312K	50x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000006031	−0.067%	$29.5M	$101.6M	75x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000006029	−0.103%	$9.3M	$36.1M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000006029	−0.103%	$7.0M	$5.8M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000006032	−0.053%	$30.1M	$17.7M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000006029	−0.103%	$4.9M	$2.7M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000006027	−0.136%	$11.3M	$14.2M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000006039	+0.063%	$23K	$7K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000006040	+0.079%	$7K	$4K	20x	as long as short
SunX SHIB-USDTshort	+0.0100%	8h	0.000006048	+0.212%	$2K	$24K	20x
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000006039	+0.063%	$519	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000006031	−0.070%	$413K	$583K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000006031	−0.070%	$2.1M	$6.6M	50x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000006024	−0.185%	$53K	$4K	25x	as long as short
Paradex kSHIB-USD-PERP	+0.0113%	8h	0.000006028	−0.112%	$7K	$13	20x	as long as short
Pacifica kSHIB	+0.0183%	1h	0.000006029	−0.103%	$12K	$4K	10x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0213% / S −0.2404%	1h	0.000006000	−0.583%	$1K	—	100x	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	+0.0247%	1h	0.000006041	+0.096%	$46K	$64K	25x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000006029	−0.107%	$1	—	20x	as long as short
Kraken Futures PF_SHIBUSDlong	+0.0755%	1h	0.000006035	long leg	$1.1M	$889K	50x