Funding you earn now, next payment 22:00 UTC−0.0088%/8h= −9.6% APRnext payment −$0.11 per $10,000 · paid last 24h −0.022%
Price spread now: Coinbase International against Lighter+0.132%7-day average −0.011% · you sell dearer than you buy
Net, funding: paid 7d − costs−$48as in the Funding arb table
Net, price: spread back to 7d avg − costs−$33as in the Price arb table
costs, in and out, $10k−$480.477% of the position
Funding, last 7 days+0.001%$0 on $10k
+Price spread, last 3 days (all we have)−0.205%−$20 · spread now +0.132%, 7d avg −0.011%
=Together, before fees−0.204%+ Points / potential airdropLighter: Season 3 · farm board−$20 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Coinbase International is 0.143% dearer against Lighter than usual: you sell high and buy low (spread +0.132% now, against its 7-day average of −0.011%): +$14 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 5.4 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter 1000SHIB | 0.000006062 | 0.0096 | pay 0.0012% / 1h | 10m 03s | $153K | $290K | 10x |
| Short | Coinbase International 1000SHIB-PERP-INTX | 0.000006070 | 0.0008 | get 0.0001% / 1h | 10m 03s | $80K | $786K | 50x |
Lighter 1000SHIB
Coinbase International 1000SHIB-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Lighter. 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
- −$18.48
- Price spread: +0.132% → −0.011%
- $14.32
- Slippage, 4 orders
- −$37.69
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$51.86
- Costs to cover
- 0.477%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 64 min ago; Coinbase International: live order book, 8 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 Lighter live order book, 64 min ago | 1.67 bp | 11.5 bp −$12 | 72.9 bp −$729 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 8 min ago | 6.59 bp | 13.2 bp −$13 | 19.2 bp −$192 | 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 | 0.000006059 | −0.047% | $23K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000006061 | −0.010% | $73K | $1.9M | 2x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | 0.0000% | 1h | 0.000006057 | −0.082% | $46K | $65K | 25x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S −0.0001% | 1h | 0.000006058 | −0.068% | $737 | — | 150x | as long as short |
| Coinbase International 1000SHIB-PERP-INTXshort | +0.0008% | 1h | 0.000006070 | +0.132% | $80K | $786K | 50x | |
| BingX 1000SHIB-USDT | +0.0080% | 8h | 0.000006064 | +0.033% | — | $2.1M | — | as long as short |
| Lighter 1000SHIBlong | +0.0096% | 1h | 0.000006062 | long leg | $153K | $290K | 10x | |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006060 | −0.027% | $35K | $175K | 50x | as long as short |
| Pacifica kSHIB | +0.0100% | 1h | 0.000006063 | +0.016% | $11K | $4K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006066 | +0.072% | $29.8M | $93.8M | 75x | as long as short |
dYdX SHIB-USD
Kalshi KXKSHIBPERP
Deribit 1000SHIB_USDC-PERPETUAL
gTrade (Gains Network) SHIB/USD
BingX 1000SHIB-USDT
Aster 1000SHIBUSDT
Pacifica kSHIB
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 | 0.000006064 | +0.033% | $8.8M | $32.0M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006056 | −0.099% | $6.9M | $5.6M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006061 | −0.016% | $30.6M | $16.3M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006054 | −0.132% | $4.9M | $2.5M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006064 | +0.033% | $11.6M | $13.1M | 75x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0100% | 1h | 0.000006063 | +0.016% | $25K | $6K | 15x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006056 | −0.099% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006065 | +0.049% | $2K | $23K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006060 | −0.033% | $544 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006058 | −0.066% | $413K | $618K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000006061 | −0.016% | $2.1M | $5.8M | 50x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0103% | 8h | 0.000006055 | −0.107% | $7K | — | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006057 | −0.082% | $54K | $4K | 25x | as long as short |
| Injective SHIB/USDC PERP | +0.0141% | 1h | 0.000006040 | −0.363% | $248 | $134K | 5.5x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000006000 | −1.023% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006064 | +0.033% | $816K | $948K | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006053 | −0.150% | $1 | — | 20x | as long as short |
| Kraken Futures PF_SHIBUSD | +0.0357% | 1h | 0.000006063 | +0.019% | $1.2M | $799K | 50x | as long as short |
| Hyperliquid kSHIB | +0.0788% | 1h | 0.000006073 | +0.181% | $4.4M | $4.0M | 10x | as long as short |
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
Injective SHIB/USDC PERP
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Reya kSHIBRUSDPERP
Kraken Futures PF_SHIBUSD
Hyperliquid kSHIB