Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.2303%/8h= +252.2% APRpaid last 24h +0.633%

Price spread now: GMX against Paradex−16.509%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on GMX

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 airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. GMX is 16.509% cheaper against Paradex than usual: you would sell low and buy high (spread −16.509% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$1,651 on $10k: about 24 days of funding at the current rate (+$69 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex kSHIB-USD-PERP	0.000005989	0.0100	pay 0.0100% / 8h	2h 20m	$7K	—	20x
Short	GMX SHIB/USD [ETH-USDC]	0.000005000	L +0.0213% / S −0.2404%	get 0.0300% / 1h	20m 59s	$1K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −16.509%Rate

Funding earned: $483.65
Price spread: −16.509% → 0.000%: −$1,650.91
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee GMX: 6 bp × 2 orders: −$12
Net: −$1,183.26
Costs to cover: 0.160%
Break-even: 24.1 days

Slippage unknown: Paradex: no order-book sample; GMX: 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 GMX no order-book sample	—	—	—	—	—

Paradex and GMX: 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
Kalshi KXKSHIBPERP	0.0000%	8h	0.000005986	−0.050%	$58K	$1.7M	2x	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	0.0000%	1h	0.000005987	−0.028%	$46K	$65K	25x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S −0.0001%	1h	0.000005987	−0.031%	$728	—	150x	as long as short
Coinbase International 1000SHIB-PERP-INTX	+0.0016%	1h	0.000005933	−0.930%	$89K	$752K	50x	as long as short
BingX 1000SHIB-USDT	+0.0034%	8h	0.000005985	−0.061%	—	$2.1M	—	as long as short
Kraken Futures PF_SHIBUSD	+0.0056%	1h	0.000005988	−0.019%	$1.1M	$763K	50x	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000005986	−0.045%	$152K	$286K	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000005983	−0.096%	$35K	$179K	50x	as long as short
Pacifica kSHIB	+0.0100%	1h	0.000005992	+0.055%	$12K	$4K	10x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000005983	−0.095%	$29.1M	$88.5M	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-SWAP	+0.0100%	8h	0.000005979	−0.162%	$7.6M	$28.1M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000005980	−0.145%	$6.8M	$5.4M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000005984	−0.078%	$31.9M	$15.7M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000005983	−0.095%	$5.0M	$2.3M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000005984	−0.078%	$11.7M	$12.6M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000005985	−0.061%	$25K	$5K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000005985	−0.061%	$6K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000005996	+0.122%	$2K	$23K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000005985	−0.061%	$543	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000005986	−0.045%	$403K	$621K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000005980	−0.145%	$2.2M	$5.4M	50x	as long as short
Paradex kSHIB-USD-PERPlong	+0.0100%	8h	0.000005989	long leg	$7K	—	20x
Extended 1000SHIB-USD	+0.0104%	1h	0.000005981	−0.124%	$53K	$4K	25x	as long as short
Injective SHIB/USDC PERP	+0.0187%	1h	0.000005964	−0.412%	$245	$67K	5.5x	as long as short
GMX SHIB/USD [ETH-USDC]short	L +0.0213% / S −0.2404%	1h	0.000005000	−16.509%	$1K	—	100x
BloFin SHIB-USDT	+0.0220%	8h	0.000005980	−0.145%	$703K	$990K	50x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000005984	−0.075%	$1	—	20x	as long as short
Hyperliquid kSHIB	+0.0675%	1h	0.000005995	+0.106%	$4.3M	$3.7M	10x	as long as short
dYdX SHIB-USD	+0.7808%	1h	0.000005989	+0.005%	$23K	$64K	10x	as long as short