Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.012%
Price spread now: Deribit against Phemex−0.083%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.040%−$4 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.083% cheaper against Phemex than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex u1000SHIBUSDT | 0.000006030 | 0.0100 | pay 0.0100% / 8h | 4h 26m | $2.1M | $6.9M | 50x |
| Short | Deribit 1000SHIB_USDC-PERPETUAL | 0.000006025 | 0 | get 0.0000% / 1h | 26m 02s | $46K | $58K | 25x |
Phemex u1000SHIBUSDT
Deribit 1000SHIB_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- −$21
- Price spread: −0.083% → 0.000%
- −$8.29
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$48.29
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: Phemex: live order book, 3 min ago; Deribit: 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 Phemex live order book, 3 min ago | 8.26 bp | 19.1 bp −$19 | 54.2 bp −$542 | doesn't fit | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
Deribit: 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_SHIBUSD | −0.0349% | 1h | 0.000006026 | −0.058% | $1.1M | $931K | 50x | as long as short |
| Coinbase International 1000SHIB-PERP-INTX | −0.0088% | 1h | 0.000006010 | −0.332% | $126K | $1.1M | 50x | as long as short |
| dYdX SHIB-USD | 0.0000% | 1h | 0.000006025 | −0.086% | $23K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000006027 | −0.050% | $194K | $2.3M | 2x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUALshort | 0.0000% | 1h | 0.000006025 | −0.083% | $46K | $58K | 25x | |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000006021 | −0.156% | $568 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | +0.166% | $248 | $134K | 5.5x | as long as short |
| BingX 1000SHIB-USDT | +0.0080% | 8h | 0.000006029 | −0.017% | — | $2.1M | — | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006029 | −0.017% | $160K | $607K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006021 | −0.148% | $40K | $321K | 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
BingX 1000SHIB-USDT
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 | 0.000006028 | −0.033% | $12K | $5K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006029 | −0.021% | $29.6M | $104.1M | 75x | as long as short |
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000006026 | −0.066% | $9.5M | $36.9M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006024 | −0.100% | $7.0M | $5.9M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006032 | +0.033% | $30.2M | $17.8M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006024 | −0.100% | $4.8M | $2.7M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006024 | −0.100% | $11.4M | $14.6M | 75x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006028 | −0.033% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006028 | −0.033% | $2K | $24K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006028 | −0.033% | $476 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006027 | −0.050% | $411K | $558K | 75x | as long as short |
| Phemex u1000SHIBUSDTlong | +0.0100% | 8h | 0.000006030 | long leg | $2.1M | $6.9M | 50x | |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006024 | −0.103% | $53K | $4K | 25x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0118% | 8h | 0.000006023 | −0.113% | $7K | $13 | 20x | as long as short |
| Hyperliquid kSHIB | +0.0138% | 1h | 0.000006037 | +0.116% | $3.6M | $4.8M | 10x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0152% | 1h | 0.000006028 | −0.033% | $23K | $7K | 15x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000006000 | −0.498% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006032 | +0.033% | $871K | $897K | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006021 | −0.141% | $1 | — | 20x | as long as short |
Pacifica kSHIB
Binance 1000SHIBUSDT
OKX SHIB-USDT-SWAP
Gate SHIB_USDT
MEXC SHIB_USDT
KuCoin SHIBUSDTM
Bitget SHIBUSDT
Orderly PERP_1000SHIB_USDC
SunX SHIB-USDT
SoDEX 1000SHIB-USD
HTX SHIB-USDT
Extended 1000SHIB-USD
Paradex kSHIB-USD-PERP
Hyperliquid kSHIB
Backpack kSHIB_USDC_PERP
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Reya kSHIBRUSDPERP