Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0025%/8h= −2.7% APRpaid last 24h 0.000%

Price spread now: Lighter against Paradex+0.278%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 Lighter

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 · Lighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. Lighter is 0.278% dearer against Paradex than usual: you sell high and buy low (spread +0.278% now, against zero (this spread has no 7-day history yet)): +$28 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 37 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex kSHIB-USD-PERP	0.000006202	0.0121	pay 0.0121% / 8h	3h 54m	$7K	$13	20x
Short	Lighter 1000SHIB	0.000006219	0.0096	get 0.0012% / 1h	54m 38s	$164K	$609K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.278%Rate

Funding earned: −$5.22
Price spread: +0.278% → 0.000%: $27.8
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Lighter: 0 bp × 2 orders: $0
Net: $18.57
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; Lighter: live order book, 46 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 Lighter live order book, 46 min ago	1.68 bp	11.9 bp −$12	66.6 bp −$666	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
Coinbase International 1000SHIB-PERP-INTX	−0.0168%	1h	0.000006158	−0.706%	$113K	$1.2M	50x	as long as short
Kraken Futures PF_SHIBUSD	−0.0063%	1h	0.000006184	−0.293%	$1.2M	$955K	50x	as long as short
dYdX SHIB-USD	0.0000%	1h	0.000006216	+0.228%	$24K	$64K	10x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000006168	−0.541%	$195K	$2.4M	2x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S 0.0000%	1h	0.000006175	−0.428%	$583	—	150x	as long as short
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	−2.608%	$248	$134K	5.5x	as long as short
BingX 1000SHIB-USDT	+0.0080%	8h	0.000006194	−0.125%	—	$2.2M	—	as long as short
Lighter 1000SHIBshort	+0.0096%	1h	0.000006219	+0.278%	$164K	$609K	10x
Aster 1000SHIBUSDT	+0.0100%	8h	0.000006204	+0.039%	$42K	$322K	50x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000006220	+0.294%	$31.3M	$109.2M	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	0.000006196	−0.093%	$9.9M	$39.1M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000006196	−0.093%	$7.2M	$6.1M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000006197	−0.077%	$31.9M	$18.5M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000006212	+0.165%	$4.8M	$2.8M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000006194	−0.125%	$11.7M	$15.1M	75x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000006178	−0.383%	$7K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000006195	−0.109%	$3K	$24K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000006179	−0.367%	$494	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000006182	−0.319%	$422K	$552K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000006186	−0.254%	$2.2M	$7.0M	50x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000006189	−0.206%	$55K	$4K	25x	as long as short
Paradex kSHIB-USD-PERPlong	+0.0121%	8h	0.000006202	long leg	$7K	$13	20x
Pacifica kSHIB	+0.0188%	1h	0.000006219	+0.278%	$12K	$5K	10x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0213% / S −0.2404%	1h	0.000006000	−3.253%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000006175	−0.431%	$907K	$916K	50x	as long as short
Hyperliquid kSHIB	+0.0293%	1h	0.000006222	+0.326%	$3.7M	$4.9M	10x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000006162	−0.641%	$1	—	20x	as long as short
Backpack kSHIB_USDC_PERP	+0.0408%	1h	0.000006208	+0.101%	$24K	$7K	15x	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	+0.0560%	1h	0.000006180	−0.351%	$47K	$58K	25x	as long as short