Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0695%/8h= −76.1% APRpaid last 24h −0.023%

Price spread now: Kraken Futures against Paradex+0.144%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 Kraken Futures

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. Kraken Futures is 0.144% dearer against Paradex than usual: you sell high and buy low (spread +0.144% now, against zero (this spread has no 7-day history yet)): +$14 on $10k if it goes back. Holding the pair costs −$21 a day in funding at the current rate, which eats that in about 17 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex kSHIB-USD-PERP	0.000005988	0.0101	pay 0.0101% / 8h	2h 50m	$7K	$13	20x
Short	Kraken Futures PF_SHIBUSD	0.000005997	−0.0594	pay 0.0074% / 1h	50m 53s	$1.1M	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.144%Rate

Funding earned: −$145.89
Price spread: +0.144% → 0.000%: $14.43
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$145.46
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; Kraken Futures: 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 Paradex no order-book sample	—	—	—	—	—
Sell Kraken Futures live order book, 3 min ago	4.17 bp	16.6 bp −$17	30.9 bp −$309	doesn't fit	doesn't fit

Paradex: 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
Kraken Futures PF_SHIBUSDshort	−0.0594%	1h	0.000005997	+0.144%	$1.1M	$1.0M	50x
Coinbase International 1000SHIB-PERP-INTX	−0.0128%	1h	0.000006051	+1.049%	$118K	$1.6M	50x	as long as short
dYdX SHIB-USD	0.0000%	1h	0.000005994	+0.096%	$23K	$56K	10x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000005996	+0.135%	$111K	$3.2M	2x	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	0.0000%	1h	0.000006001	+0.214%	$47K	$65K	25x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S 0.0000%	1h	0.000005998	+0.167%	$566	—	150x	as long as short
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	+0.865%	$248	$134K	5.5x	as long as short
BingX 1000SHIB-USDT	+0.0070%	8h	0.000006006	+0.297%	—	$2.3M	—	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000006002	+0.231%	$158K	$630K	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000006003	+0.254%	$41K	$336K	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kSHIB	+0.0100%	1h	0.000005991	+0.047%	$12K	$5K	10x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000006007	+0.315%	$30.4M	$121.9M	75x	as long as short
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000006006	+0.297%	$9.5M	$41.5M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000006002	+0.231%	$7.1M	$7.1M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000006007	+0.314%	$28.8M	$19.1M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000006006	+0.297%	$4.6M	$3.1M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000006005	+0.281%	$11.3M	$17.0M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000006005	+0.281%	$23K	$7K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000006001	+0.214%	$7K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000006005	+0.281%	$2K	$26K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000005999	+0.181%	$500	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000005997	+0.147%	$409K	$603K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000006010	+0.364%	$2.1M	$7.3M	50x	as long as short
Paradex kSHIB-USD-PERPlong	+0.0101%	8h	0.000005988	long leg	$7K	$13	20x
Extended 1000SHIB-USD	+0.0104%	1h	0.000006003	+0.245%	$53K	$4K	25x	as long as short
Hyperliquid kSHIB	+0.0176%	1h	0.000006010	+0.364%	$3.6M	$5.3M	10x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0213% / S −0.2404%	1h	0.000005000	−16.502%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000005996	+0.130%	$920K	$916K	50x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000005996	+0.127%	$1	—	20x	as long as short