Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.033%

Price spread now: Kalshi against Pacifica+0.046%7-day average — · you sell dearer than you buy

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

Long on Pacifica Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

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

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

The price spread pays, funding is against you. Kalshi is 0.046% dearer against Pacifica than usual: you sell high and buy low (spread +0.046% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 37 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica kSHIB	0.000006057	0.0100	pay 0.0013% / 1h	10m 10s	$12K	$6K	10x
Short	Kalshi KXKSHIBPERP	0.000006060	0	get 0.0000% / 8h	3h 10m	$157K	$3.3M	2x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Pacifica. 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 PacificabpFee KalshibpOrdersPrice spread, now +0.046%Rate

Funding earned: −$21
Price spread: +0.046% → 0.000%: $4.62
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$34.38
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Pacifica: 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 Pacifica no order-book sample	—	—	—	—	—
Sell Kalshi live order book, 3 min ago	5.39 bp	10.4 bp −$10	17.3 bp −$173	doesn't fit	doesn't fit

Pacifica: 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
Coinbase International 1000SHIB-PERP-INTX	−0.0024%	1h	0.000006039	−0.297%	$131K	$1.7M	50x	as long as short
Kalshi KXKSHIBPERPshort	0.0000%	8h	0.000006060	+0.046%	$157K	$3.3M	2x
gTrade (Gains Network) SHIB/USD	L +0.0006% / S 0.0000%	1h	0.000006054	−0.051%	$571	—	150x	as long as short
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	−0.281%	$248	$134K	5.5x	as long as short
BingX 1000SHIB-USDT	+0.0046%	8h	0.000006068	+0.182%	—	$2.2M	—	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000006067	+0.165%	$156K	$647K	10x	as long as short
Kraken Futures PF_SHIBUSD	+0.0098%	1h	0.000006064	+0.111%	$1.2M	$1.0M	50x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000006063	+0.102%	$41K	$296K	50x	as long as short
Pacifica kSHIBlong	+0.0100%	1h	0.000006057	long leg	$12K	$6K	10x
Binance 1000SHIBUSDT	+0.0100%	8h	0.000006067	+0.172%	$30.8M	$128.7M	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-SWAP	+0.0100%	8h	0.000006064	+0.116%	$9.8M	$46.5M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000006060	+0.050%	$7.2M	$7.2M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000006063	+0.099%	$28.5M	$20.3M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000006063	+0.099%	$4.7M	$3.2M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000006066	+0.149%	$11.4M	$17.5M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000006067	+0.165%	$23K	$9K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000006065	+0.132%	$7K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000006076	+0.314%	$2K	$26K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000006065	+0.132%	$513	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000006060	+0.050%	$416K	$567K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000006060	+0.050%	$2.1M	$7.7M	50x	as long as short
Paradex kSHIB-USD-PERP	+0.0101%	8h	0.000006057	+0.005%	$7K	$13	20x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000006063	+0.093%	$54K	$4K	25x	as long as short
Hyperliquid kSHIB	+0.0107%	1h	0.000006067	+0.165%	$3.7M	$5.5M	10x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0212% / S −0.2404%	1h	0.000006000	−0.941%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000006053	−0.066%	$839K	$941K	50x	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	+0.0245%	1h	0.000006067	+0.165%	$54K	$48K	25x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000006055	−0.041%	$1	—	20x	as long as short
dYdX SHIB-USD	+0.7591%	1h	0.000006055	−0.034%	$32K	$87K	10x	as long as short