Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0223%/8h= +24.4% APRpaid last 24h +0.067%

Price spread now: Reya against OKX−0.032%47s7-day average — · you buy dearer than you sell

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

Long on OKX Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.032% cheaper against OKX than usual: you would sell low and buy high (spread −0.032% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 11 hours of funding at the current rate (+$7 a day). The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SHIB-USDT-SWAP	0.000006113	0.0100	pay 0.0100% / 8h	7h 36m	$9.3M	$34.5M	50x
Short	Reya kSHIBRUSDPERP	0.000006111	0.0323	get 0.0040% / 1h	36m 32s	$1	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against OKX. 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 OKXbpFee ReyabpOrdersPrice spread, now −0.032%Rate

Funding earned: $46.75
Price spread: −0.032% → 0.000%: −$3.16
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: $27.59
Costs to cover: 0.160%
Break-even: 2.9 days

Slippage unknown: OKX: live order book, 2 min ago; Reya: 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 OKX live order book, 2 min ago	0.82 bp	9.7 bp −$10	27.4 bp −$274	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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 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	0.000006107	−0.098%	$23K	$64K	10x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000006099	−0.231%	$104K	$2.0M	2x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S −0.0001%	1h	0.000006106	−0.108%	$743	—	150x	as long as short
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	−1.194%	$248	$134K	5.5x	as long as short
Coinbase International 1000SHIB-PERP-INTX	+0.0064%	1h	0.000006084	−0.474%	$77K	$811K	50x	as long as short
BingX 1000SHIB-USDC	+0.0080%	8h	0.000006109	−0.065%	—	$1.6M	—	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000006119	+0.098%	$220K	$438K	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000006111	−0.030%	$37K	$179K	50x	as long as short
Pacifica kSHIB	+0.0100%	1h	0.000006115	+0.033%	$12K	$4K	10x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000006115	+0.027%	$29.8M	$97.5M	75x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX SHIB-USDT-SWAPlong	+0.0100%	8h	0.000006113	long leg	$9.3M	$34.5M	50x
Gate SHIB_USDT	+0.0100%	8h	0.000006108	−0.082%	$7.1M	$5.5M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000006108	−0.082%	$31.6M	$16.8M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000006114	+0.016%	$4.9M	$2.6M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000006109	−0.065%	$11.6M	$13.6M	75x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000006108	−0.082%	$7K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000006119	+0.098%	$2K	$24K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000006108	−0.082%	$562	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000006106	−0.115%	$418K	$594K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000006110	−0.049%	$2.2M	$6.3M	50x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000006109	−0.058%	$54K	$4K	25x	as long as short
Paradex kSHIB-USD-PERP	+0.0114%	8h	0.000006111	−0.033%	$7K	—	20x	as long as short
Backpack kSHIB_USDC_PERP	+0.0206%	1h	0.000006109	−0.065%	$25K	$6K	15x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0213% / S −0.2404%	1h	0.000006000	−1.849%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000006113	0.000%	$819K	$947K	50x	as long as short
Kraken Futures PF_SHIBUSD	+0.0257%	1h	0.000006111	−0.028%	$1.2M	$821K	50x	as long as short
Reya kSHIBRUSDPERPshort	+0.0323%	1h	0.000006111	−0.032%	$1	—	20x
Deribit 1000SHIB_USDC-PERPETUAL	+0.0405%	1h	0.000006111	−0.033%	$47K	$65K	25x	as long as short
Hyperliquid kSHIB	+0.0682%	1h	0.000006122	+0.147%	$4.5M	$4.0M	10x	as long as short