Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%
Price spread now: Lighter against Phemex+0.082%7-day average −0.040% · you sell dearer than you buy
Net, funding: paid 7d − costs−$70as in the Funding arb table
Net, price: spread back to 7d avg − costs−$43as in the Price arb table
costs, in and out, $10k−$550.553% of the position
Funding, last 7 days−0.148%−$15 on $10k
+Price spread, last 3 days (all we have)−0.128%−$13 · spread now +0.082%, 7d avg −0.040%
=Together, before fees−0.275%+ Points / potential airdropLighter: Season 3 · farm board−$28 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.122% dearer against Phemex than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.040%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex u1000SHIBUSDT | 0.000006080 | 0.0100 | pay 0.0100% / 8h | 48m 31s | $2.1M | $5.9M | 50x |
| Short | Lighter 1000SHIB | 0.000006085 | 0.0096 | get 0.0012% / 1h | 48m 31s | $153K | $290K | 10x |
Phemex u1000SHIBUSDT
Lighter 1000SHIBFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- −$0.84
- Price spread: +0.082% → −0.040%
- $12.25
- Slippage, 4 orders
- −$43.32
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$43.91
- Costs to cover
- 0.553%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 5 min ago; Lighter: live order book, 12 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 | 4.09 bp | 19.3 bp −$19 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 12 min ago | 1.65 bp | 12.8 bp −$13 | 62.0 bp −$620 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX SHIB-USD | 0.0000% | 1h | 0.000006083 | +0.052% | $23K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000006089 | +0.141% | $73K | $1.9M | 2x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | 0.0000% | 1h | 0.000006082 | +0.033% | $47K | $65K | 25x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S −0.0001% | 1h | 0.000006087 | +0.115% | $740 | — | 150x | as long as short |
| Coinbase International 1000SHIB-PERP-INTX | +0.0032% | 1h | 0.000006113 | +0.543% | $81K | $791K | 50x | as long as short |
| BingX 1000SHIB-USDC | +0.0080% | 8h | 0.000006077 | −0.049% | — | $1.6M | — | as long as short |
| Lighter 1000SHIBshort | +0.0096% | 1h | 0.000006085 | +0.082% | $153K | $290K | 10x | |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006088 | +0.132% | $35K | $175K | 50x | as long as short |
| Pacifica kSHIB | +0.0100% | 1h | 0.000006086 | +0.099% | $12K | $4K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006081 | +0.018% | $29.9M | $94.6M | 75x | as long as short |
dYdX SHIB-USD
Kalshi KXKSHIBPERP
Deribit 1000SHIB_USDC-PERPETUAL
gTrade (Gains Network) SHIB/USD
Coinbase International 1000SHIB-PERP-INTX
BingX 1000SHIB-USDC
Aster 1000SHIBUSDT
Pacifica kSHIB
Binance 1000SHIBUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000006080 | 0.000% | $8.7M | $32.4M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006077 | −0.049% | $7.0M | $5.6M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006086 | +0.099% | $30.5M | $16.2M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006085 | +0.082% | $4.9M | $2.5M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006084 | +0.066% | $11.6M | $13.2M | 75x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006084 | +0.066% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006096 | +0.263% | $2K | $23K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006085 | +0.082% | $539 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006086 | +0.099% | $415K | $613K | 75x | as long as short |
| Phemex u1000SHIBUSDTlong | +0.0100% | 8h | 0.000006080 | long leg | $2.1M | $5.9M | 50x | |
| Paradex kSHIB-USD-PERP | +0.0102% | 8h | 0.000006086 | +0.103% | $7K | — | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006079 | −0.018% | $54K | $4K | 25x | as long as short |
| Injective SHIB/USDC PERP | +0.0161% | 1h | 0.000006040 | −0.658% | $248 | $134K | 5.5x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000006000 | −1.316% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006087 | +0.115% | $814K | $952K | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006083 | +0.053% | $1 | — | 20x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0342% | 1h | 0.000006086 | +0.099% | $25K | $6K | 15x | as long as short |
| Kraken Futures PF_SHIBUSD | +0.0379% | 1h | 0.000006086 | +0.104% | $1.2M | $803K | 50x | as long as short |
| Hyperliquid kSHIB | +0.0694% | 1h | 0.000006096 | +0.263% | $4.4M | $4.0M | 10x | as long as short |
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
Paradex kSHIB-USD-PERP
Extended 1000SHIB-USD
Injective SHIB/USDC PERP
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Reya kSHIBRUSDPERP
Backpack kSHIB_USDC_PERP
Kraken Futures PF_SHIBUSD
Hyperliquid kSHIB