Funding you earn now, next payment 08:00 UTC−0.0039%/8h= −4.3% APRnext payment −$0.39 per $10,000 · paid last 24h −0.020%
Price spread now: BingX against Phemex−0.083%7-day average −0.030% · you buy dearer than you sell
Net, funding: paid 7d − costs−$91as in the Funding arb table
Net, price: spread back to 7d avg − costs−$84as in the Price arb table
costs, in and out, $10k−$780.783% of the position
Funding, last 7 days−0.126%−$13 on $10k
+Price spread, last 4 days (all we have)+0.051%+$5 · spread now −0.083%, 7d avg −0.030%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BingX is 0.054% cheaper against Phemex than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.030%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex u1000SHIBUSDT | 0.000006010 | 0.0100 | pay 0.0100% / 8h | 2h 19m | $2.1M | $7.4M | 50x |
| Short | BingX 1000SHIB-USDT | 0.000006005 | 0.0061 | get 0.0061% / 8h | 2h 19m | — | $2.3M | — |
Phemex u1000SHIBUSDT
BingX 1000SHIB-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX against Phemex. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$8.19
- Price spread: −0.083% → −0.030%
- −$5.35
- Slippage, 4 orders
- −$56.25
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$91.8
- Costs to cover
- 0.783%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 4 min ago; BingX: live order book, 13 min ago.
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 Phemex live order book, 4 min ago | 14.31 bp | 29.2 bp −$29 | 72.7 bp −$727 | doesn't fit | doesn't fit |
| Sell BingX live order book, 13 min ago | 1.68 bp | 8.8 bp −$9 | 16.9 bp −$169 | 52.8 bp −$5,275 | 108.8 bp −$54.4K |
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_SHIBUSD | −0.0594% | 1h | 0.000006002 | −0.131% | $1.1M | $1.0M | 50x | as long as short |
| Coinbase International 1000SHIB-PERP-INTX | −0.0128% | 1h | 0.000005947 | −1.048% | $116K | $1.6M | 50x | as long as short |
| dYdX SHIB-USD | 0.0000% | 1h | 0.000005998 | −0.201% | $23K | $56K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000005998 | −0.193% | $109K | $3.2M | 2x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000006001 | −0.155% | $566 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | +0.499% | $248 | $134K | 5.5x | as long as short |
| BingX 1000SHIB-USDTshort | +0.0061% | 8h | 0.000006005 | −0.083% | — | $2.3M | — | |
| Deribit 1000SHIB_USDC-PERPETUAL | +0.0083% | 1h | 0.000006003 | −0.116% | $47K | $65K | 25x | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006005 | −0.083% | $157K | $636K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006008 | −0.032% | $41K | $336K | 50x | as long as short |
Kraken Futures PF_SHIBUSD
Coinbase International 1000SHIB-PERP-INTX
dYdX SHIB-USD
Kalshi KXKSHIBPERP
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
Deribit 1000SHIB_USDC-PERPETUAL
Lighter 1000SHIB
Aster 1000SHIBUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica kSHIB | +0.0100% | 1h | 0.000006001 | −0.150% | $12K | $5K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006004 | −0.094% | $30.2M | $124.1M | 75x | as long as short |
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000006004 | −0.100% | $9.2M | $42.6M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006005 | −0.083% | $7.0M | $7.3M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006008 | −0.033% | $28.4M | $19.2M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006011 | +0.017% | $4.7M | $3.2M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006003 | −0.116% | $11.3M | $17.1M | 75x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0100% | 1h | 0.000006006 | −0.067% | $23K | $7K | 15x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006004 | −0.100% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006014 | +0.067% | $2K | $27K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006002 | −0.133% | $506 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006000 | −0.166% | $409K | $570K | 75x | as long as short |
| Phemex u1000SHIBUSDTlong | +0.0100% | 8h | 0.000006010 | long leg | $2.1M | $7.4M | 50x | |
| Paradex kSHIB-USD-PERP | +0.0102% | 8h | 0.000006006 | −0.061% | $7K | $13 | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006004 | −0.100% | $53K | $4K | 25x | as long as short |
| Hyperliquid kSHIB | +0.0178% | 1h | 0.000006013 | +0.050% | $3.6M | $5.3M | 10x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000006000 | −0.166% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000005983 | −0.449% | $898K | $920K | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006000 | −0.174% | $1 | — | 20x | as long as short |
Pacifica kSHIB
Binance 1000SHIBUSDT
OKX SHIB-USDT-SWAP
Gate SHIB_USDT
MEXC SHIB_USDT
KuCoin SHIBUSDTM
Bitget SHIBUSDT
Backpack kSHIB_USDC_PERP
Orderly PERP_1000SHIB_USDC
SunX SHIB-USDT
SoDEX 1000SHIB-USD
HTX SHIB-USDT
Paradex kSHIB-USD-PERP
Extended 1000SHIB-USD
Hyperliquid kSHIB
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Reya kSHIBRUSDPERP