Funding you earn now, next payment 02:00 UTC+0.0666%/8h= +73.0% APRpaid last 24h −0.040%
Price spread now: Kraken Futures against KuCoin−0.088%7-day average +0.018% · you buy dearer than you sell
Net, funding: paid 7d − costs−$83as in the Funding arb table
Net, price: spread back to 7d avg − costs−$84as in the Price arb table
costs, in and out, $10k−$740.737% of the position
Funding, last 7 days−0.097%−$10 on $10k
+Price spread, last 3 days (all we have)+0.088%+$9 · spread now −0.088%, 7d avg +0.018%
=Funding pays, the price is against you. Kraken Futures is 0.106% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.088% now, against its 7-day average of +0.018%). If the spread goes back, that is −$11 on $10k: about 13 hours of funding at the current rate (+$20 a day). Mind the row above: over the last 7 days funding on this pair cost −0.097%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.097% in total (about -5.1% 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 | KuCoin SHIBUSDTM | 0.000005948 | 0.0100 | pay 0.0100% / 8h | 6h 41m | $4.9M | $2.7M | 75x |
| Short | Kraken Futures PF_SHIBUSD | 0.000005943 | 0.0766 | get 0.0096% / 1h | 41m 27s | $1.1M | $851K | 50x |
KuCoin SHIBUSDTM
Kraken Futures PF_SHIBUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against KuCoin. 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
- $139.95
- Price spread: −0.088% → +0.018%
- −$10.55
- Slippage, 4 orders
- −$51.67
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $55.73
- Costs to cover
- 0.737%
- Break-even
- 4.2 days
Slippage from KuCoin: live order book, 1 min ago; Kraken Futures: live order book, 2 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 KuCoin live order book, 1 min ago | 3.36 bp | 19.1 bp −$19 | 53.9 bp −$539 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 2 min ago | 5.02 bp | 23.3 bp −$23 | 32.5 bp −$325 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX SHIB-USD | 0.0000% | 1h | 0.000005939 | −0.150% | $23K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000005965 | +0.279% | $188K | $2.3M | 2x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | 0.0000% | 1h | 0.000005948 | 0.000% | $46K | $65K | 25x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S −0.0001% | 1h | 0.000005946 | −0.040% | $723 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | +1.547% | $248 | $134K | 5.5x | as long as short |
| Coinbase International 1000SHIB-PERP-INTX | +0.0072% | 1h | 0.000006019 | +1.194% | $156K | $987K | 50x | as long as short |
| BingX 1000SHIB-USDC | +0.0080% | 8h | 0.000005950 | +0.034% | — | $1.6M | — | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000005943 | −0.084% | $163K | $586K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000005944 | −0.072% | $39K | $183K | 50x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000005949 | +0.015% | $29.1M | $101.3M | 75x | as long as short |
dYdX SHIB-USD
Kalshi KXKSHIBPERP
Deribit 1000SHIB_USDC-PERPETUAL
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
Coinbase International 1000SHIB-PERP-INTX
BingX 1000SHIB-USDC
Lighter 1000SHIB
Aster 1000SHIBUSDT
Binance 1000SHIBUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000005945 | −0.050% | $9.0M | $35.2M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000005945 | −0.050% | $6.9M | $5.6M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000005942 | −0.101% | $30.6M | $17.4M | 300x | as long as short |
| KuCoin SHIBUSDTMlong | +0.0100% | 8h | 0.000005948 | long leg | $4.9M | $2.7M | 75x | |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000005941 | −0.118% | $11.2M | $14.3M | 75x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0100% | 1h | 0.000005953 | +0.084% | $23K | $7K | 15x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000005949 | +0.017% | $6K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000005956 | +0.134% | $2K | $24K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000005949 | +0.017% | $523 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000005948 | 0.000% | $409K | $605K | 75x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000005949 | +0.009% | $53K | $4K | 25x | as long as short |
| Phemex u1000SHIBUSDT | +0.0110% | 8h | 0.000005950 | +0.034% | $2.1M | $6.5M | 50x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0125% | 8h | 0.000005952 | +0.072% | $7K | $13 | 20x | as long as short |
| Pacifica kSHIB | +0.0183% | 1h | 0.000005944 | −0.067% | $12K | $4K | 10x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000005000 | −15.938% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006010 | +1.042% | $871K | $935K | 50x | as long as short |
| Hyperliquid kSHIB | +0.0236% | 1h | 0.000005948 | 0.000% | $3.7M | $4.6M | 10x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000005942 | −0.103% | $1 | — | 20x | as long as short |
| Kraken Futures PF_SHIBUSDshort | +0.0766% | 1h | 0.000005943 | −0.088% | $1.1M | $851K | 50x |
OKX SHIB-USDT-SWAP
Gate SHIB_USDT
MEXC SHIB_USDT
Bitget SHIBUSDT
Backpack kSHIB_USDC_PERP
Orderly PERP_1000SHIB_USDC
SunX SHIB-USDT
SoDEX 1000SHIB-USD
HTX SHIB-USDT
Extended 1000SHIB-USD
Phemex u1000SHIBUSDT
Paradex kSHIB-USD-PERP
Pacifica kSHIB
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Hyperliquid kSHIB
Reya kSHIBRUSDPERP