Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0103%/8h= −11.3% APRpaid last 24h −0.009%

Price spread now: Deribit against Paradex+0.072%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

The price spread pays, funding is against you. Deribit is 0.072% dearer against Paradex than usual: you sell high and buy low (spread +0.072% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex kSHIB-USD-PERP	0.000005977	0.0103	pay 0.0103% / 8h	23m 21s	$7K	$13	20x
Short	Deribit 1000SHIB_USDC-PERPETUAL	0.000005981	0	get 0.0000% / 1h	23m 21s	$50K	$59K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Paradex. 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 ParadexbpFee DeribitbpOrdersPrice spread, now +0.072%Rate

Funding earned: −$21.61
Price spread: +0.072% → 0.000%: $7.21
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$25.4
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Deribit: 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 Paradex no order-book sample	—	—	—	—	—
Sell Deribit no order-book sample	—	—	—	—	—

Paradex and Deribit: 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	−0.0016%	1h	0.000006005	+0.474%	$117K	$1.6M	50x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000005988	+0.196%	$119K	$3.2M	2x	as long as short
Deribit 1000SHIB_USDC-PERPETUALshort	0.0000%	1h	0.000005981	+0.072%	$50K	$59K	25x
gTrade (Gains Network) SHIB/USD	L +0.0006% / S 0.0000%	1h	0.000005989	+0.211%	$565	—	150x	as long as short
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	+1.059%	$248	$134K	5.5x	as long as short
BingX 1000SHIB-USDT	+0.0070%	8h	0.000005989	+0.206%	—	$2.3M	—	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000005979	+0.039%	$156K	$642K	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000005991	+0.238%	$41K	$305K	50x	as long as short
Pacifica kSHIB	+0.0100%	1h	0.000005975	−0.028%	$12K	$6K	10x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000005994	+0.282%	$30.4M	$127.7M	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	0.000005989	+0.206%	$9.0M	$43.5M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000005986	+0.156%	$7.0M	$7.3M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000005990	+0.223%	$28.7M	$20.2M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000005981	+0.072%	$4.7M	$3.2M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000005987	+0.173%	$11.3M	$17.2M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000005975	−0.028%	$23K	$8K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000005991	+0.239%	$7K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000005990	+0.223%	$2K	$27K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000005977	+0.005%	$510	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000005982	+0.089%	$407K	$576K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000005981	+0.072%	$2.1M	$7.7M	50x	as long as short
Paradex kSHIB-USD-PERPlong	+0.0103%	8h	0.000005977	long leg	$7K	$13	20x
Extended 1000SHIB-USD	+0.0104%	1h	0.000005980	+0.058%	$53K	$4K	25x	as long as short
Kraken Futures PF_SHIBUSD	+0.0201%	1h	0.000005977	+0.008%	$1.2M	$1.0M	50x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0212% / S −0.2404%	1h	0.000005000	−16.342%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000005997	+0.340%	$872K	$935K	50x	as long as short
Hyperliquid kSHIB	+0.0264%	1h	0.000005990	+0.223%	$3.6M	$5.5M	10x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000005985	+0.145%	$1	—	20x	as long as short
dYdX SHIB-USD	+0.3748%	1h	0.000005977	+0.002%	$35K	$70K	10x	as long as short