Funding you earn now, next payment 12:00 UTC−0.0100%/8h= −10.9% APRnext payment −$1.00 per $10,000 · paid last 24h −0.030%
Price spread now: Kalshi against Orderly−0.134%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
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
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Kalshi is 0.134% cheaper against Orderly than usual: you would sell low and buy high (−$13 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_1000SHIB_USDC | 0.000005984 | 0.0100 | pay 0.0100% / 8h | 5h 28m | $6K | $2K | 20x |
| Short | Kalshi KXKSHIBPERP | 0.000005976 | 0 | get 0.0000% / 8h | 1h 28m | $78K | $3.5M | 2x |
Orderly PERP_1000SHIB_USDC
Kalshi KXKSHIBPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kalshi against Orderly. 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
- −$21
- Price spread: −0.134% → 0.000%
- −$13.37
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Net
- −$50.37
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Kalshi: live order book, 3 min ago. 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Kalshi live order book, 3 min ago | 6.70 bp | 15.2 bp −$15 | 21.9 bp −$219 | doesn't fit | doesn't fit |
Orderly: 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 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International 1000SHIB-PERP-INTX | −0.0056% | 1h | 0.000006068 | +1.404% | $131K | $1.7M | 50x | as long as short |
| Kalshi KXKSHIBPERPshort | 0.0000% | 8h | 0.000005976 | −0.134% | $78K | $3.5M | 2x | |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000005972 | −0.207% | $564 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | +0.936% | $248 | $134K | 5.5x | as long as short |
| BingX 1000SHIB-USDC | +0.0070% | 8h | 0.000005982 | −0.033% | — | $1.7M | — | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | +0.0084% | 1h | 0.000005985 | +0.017% | $48K | $50K | 25x | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000005982 | −0.033% | $156K | $617K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000005983 | −0.020% | $40K | $271K | 50x | as long as short |
| Pacifica kSHIB | +0.0100% | 1h | 0.000005984 | 0.000% | $12K | $5K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000005985 | +0.017% | $31.0M | $128.6M | 75x | as long as short |
Coinbase International 1000SHIB-PERP-INTX
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
BingX 1000SHIB-USDC
Deribit 1000SHIB_USDC-PERPETUAL
Lighter 1000SHIB
Aster 1000SHIBUSDT
Pacifica kSHIB
Binance 1000SHIBUSDTShow all 29 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000005984 | 0.000% | $9.5M | $45.7M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000005979 | −0.084% | $7.0M | $6.8M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000005980 | −0.067% | $27.5M | $19.1M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000005980 | −0.067% | $4.7M | $3.2M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000005981 | −0.050% | $11.3M | $17.4M | 75x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0100% | 1h | 0.000005984 | 0.000% | $23K | $9K | 15x | as long as short |
| Orderly PERP_1000SHIB_USDClong | +0.0100% | 8h | 0.000005984 | long leg | $6K | $2K | 20x | |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000005994 | +0.167% | $2K | $25K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000005984 | 0.000% | $507 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000005982 | −0.033% | $410K | $482K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000005983 | −0.017% | $2.1M | $7.7M | 50x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0101% | 8h | 0.000005986 | +0.026% | $7K | $13 | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000005981 | −0.058% | $53K | $4K | 25x | as long as short |
| Kraken Futures PF_SHIBUSD | +0.0204% | 1h | 0.000005981 | −0.043% | $1.1M | $1.0M | 50x | as long as short |
| Hyperliquid kSHIB | +0.0209% | 1h | 0.000005988 | +0.067% | $3.6M | $5.2M | 10x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0212% / S −0.2404% | 1h | 0.000005000 | −16.444% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000005982 | −0.033% | $915K | $882K | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000005979 | −0.087% | $1 | — | 20x | as long as short |
| dYdX SHIB-USD | +0.8252% | 1h | 0.000005982 | −0.041% | $31K | $65K | 10x | as long as short |
OKX SHIB-USDT-SWAP
Gate SHIB_USDT
MEXC SHIB_USDT
KuCoin SHIBUSDTM
Bitget SHIBUSDT
Backpack kSHIB_USDC_PERP
SunX SHIB-USDT
SoDEX 1000SHIB-USD
HTX SHIB-USDT
Phemex u1000SHIBUSDT
Paradex kSHIB-USD-PERP
Extended 1000SHIB-USD
Kraken Futures PF_SHIBUSD
Hyperliquid kSHIB
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Reya kSHIBRUSDPERP
dYdX SHIB-USD