Funding you earn now, next payment 08:00 UTC+0.0120%/8h= +13.1% APRnext payment +$1.20 per $10,000 · paid last 24h +0.036%
Price spread now: BloFin against Phemex−0.319%59s7-day average −0.059% · you buy dearer than you sell
Net, funding: paid 7d − costs−$29as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$530.529% of the position
Funding, last 7 days+0.235%+$24 on $10k
+Price spread, last 4 days (all we have)+0.255%+$26 · spread now −0.319%, 7d avg −0.059%
=Funding pays, the price is against you. BloFin is 0.260% cheaper against Phemex than usual: you would sell low and buy high (spread −0.319% now, against its 7-day average of −0.059%). If the spread goes back, that is −$26 on $10k: about 7.2 days of funding at the current rate (+$4 a day). The two prices were read 59 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex u1000SHIBUSDT | 0.000005954 | 0.0100 | pay 0.0100% / 8h | 4h 44m | $2.1M | $6.8M | 50x |
| Short | BloFin SHIB-USDT | 0.000005935 | 0.0220 | get 0.0220% / 8h | 4h 44m | $869K | $883K | 50x |
Phemex u1000SHIBUSDT
BloFin SHIB-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin 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
- $25.2
- Price spread: −0.319% → −0.059%
- −$26.02
- Slippage, 4 orders
- −$28.87
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$53.68
- Costs to cover
- 0.529%
- Break-even
- 21.9 days
Slippage from Phemex: live order book, 5 min ago; BloFin: live order book, 58 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, 5 min ago | 5.06 bp | 13.4 bp −$13 | 56.1 bp −$561 | doesn't fit | doesn't fit |
| Sell BloFin live order book, 58 min ago | 0.83 bp | 8.7 bp −$9 | 17.2 bp −$172 | doesn't fit | doesn't fit |
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 | −0.0354% | 1h | 0.000005951 | −0.051% | $1.1M | $928K | 50x | as long as short |
| Coinbase International 1000SHIB-PERP-INTX | −0.0088% | 1h | 0.000005921 | −0.554% | $124K | $1.1M | 50x | as long as short |
| dYdX SHIB-USD | 0.0000% | 1h | 0.000005940 | −0.237% | $23K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000005946 | −0.131% | $191K | $2.3M | 2x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000005952 | −0.034% | $562 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | +1.444% | $248 | $134K | 5.5x | as long as short |
| BingX 1000SHIB-USDC | +0.0080% | 8h | 0.000005958 | +0.067% | — | $1.6M | — | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000005956 | +0.034% | $160K | $604K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000005950 | −0.071% | $40K | $321K | 50x | as long as short |
| Pacifica kSHIB | +0.0100% | 1h | 0.000005944 | −0.168% | $12K | $5K | 10x | 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
BingX 1000SHIB-USDC
Lighter 1000SHIB
Aster 1000SHIBUSDT
Pacifica kSHIBShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000005958 | +0.065% | $29.2M | $103.4M | 75x | as long as short |
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000005959 | +0.084% | $9.2M | $36.3M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000005950 | −0.067% | $6.9M | $5.9M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000005954 | 0.000% | $29.9M | $17.7M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000005952 | −0.034% | $4.8M | $2.7M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000005955 | +0.017% | $11.2M | $14.5M | 75x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0100% | 1h | 0.000005959 | +0.084% | $23K | $7K | 15x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000005956 | +0.034% | $6K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000005964 | +0.168% | $2K | $24K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000005955 | +0.017% | $484 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000005948 | −0.101% | $406K | $566K | 75x | as long as short |
| Phemex u1000SHIBUSDTlong | +0.0100% | 8h | 0.000005954 | long leg | $2.1M | $6.8M | 50x | |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000005950 | −0.064% | $53K | $4K | 25x | as long as short |
| Hyperliquid kSHIB | +0.0105% | 1h | 0.000005961 | +0.118% | $3.6M | $4.8M | 10x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0110% | 8h | 0.000005947 | −0.116% | $7K | $13 | 20x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000005000 | −16.023% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDTshort | +0.0220% | 8h | 0.000005935 | −0.319% | $869K | $883K | 50x | |
| Deribit 1000SHIB_USDC-PERPETUAL | +0.0254% | 1h | 0.000005955 | +0.017% | $46K | $61K | 25x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000005953 | −0.010% | $1 | — | 20x | as long as short |
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
Extended 1000SHIB-USD
Hyperliquid kSHIB
Paradex kSHIB-USD-PERP
GMX SHIB/USD [ETH-USDC]
Deribit 1000SHIB_USDC-PERPETUAL
Reya kSHIBRUSDPERP