Funding you earn now, next payment 12:00 UTC+0.0223%/8h= +24.4% APRpaid last 24h +0.067%
Price spread now: Reya against Phemex−0.065%46s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Funding pays, the price is against you. Reya is 0.065% cheaper against Phemex than usual: you would sell low and buy high (spread −0.065% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 23 hours of funding at the current rate (+$7 a day). The two prices were read 46 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 | 0.000005960 | 0.0100 | pay 0.0100% / 8h | 4h 09m | $2.1M | $7.9M | 50x |
| Short | Reya kSHIBRUSDPERP | 0.000005956 | 0.0323 | get 0.0040% / 1h | 9m 17s | $1 | — | 20x |
Phemex u1000SHIBUSDT
Reya kSHIBRUSDPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Reya 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
- $46.75
- Price spread: −0.065% → 0.000%
- −$6.47
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Reya: 3 bp × 2 orders
- −$6
- Net
- $22.28
- Costs to cover
- 0.180%
- Break-even
- 3.7 days
Slippage unknown: Phemex: live order book, 3 min ago; Reya: 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 | 0.84 bp | 13.9 bp −$14 | 55.9 bp −$559 | doesn't fit | doesn't fit |
| Sell Reya no order-book sample | — | — | — | — | — |
Reya: 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 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000005953 | −0.124% | $145K | $4.0M | 2x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000005960 | −0.008% | $563 | — | 150x | as long as short |
| Coinbase International 1000SHIB-PERP-INTX | +0.0016% | 1h | 0.000005914 | −0.772% | $142K | $1.8M | 50x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | +1.342% | $248 | $134K | 5.5x | as long as short |
| BingX 1000SHIB-USDT | +0.0064% | 8h | 0.000005960 | 0.000% | — | $2.2M | — | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | +0.0086% | 1h | 0.000005961 | +0.017% | $51K | $50K | 25x | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000005967 | +0.117% | $171K | $625K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000005961 | +0.017% | $42K | $285K | 50x | as long as short |
| Pacifica kSHIB | +0.0100% | 1h | 0.000005964 | +0.067% | $12K | $5K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000005963 | +0.050% | $31.0M | $132.5M | 75x | as long as short |
Kalshi KXKSHIBPERP
gTrade (Gains Network) SHIB/USD
Coinbase International 1000SHIB-PERP-INTX
Injective SHIB/USDC PERP
BingX 1000SHIB-USDT
Deribit 1000SHIB_USDC-PERPETUAL
Lighter 1000SHIB
Aster 1000SHIBUSDT
Pacifica kSHIB
Binance 1000SHIBUSDTShow all 29 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000005956 | −0.067% | $8.6M | $48.5M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000005958 | −0.034% | $7.0M | $6.9M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000005957 | −0.050% | $27.1M | $19.3M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000005963 | +0.050% | $4.8M | $3.3M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000005959 | −0.017% | $11.5M | $18.1M | 75x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000005960 | 0.000% | $6K | $2K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000005972 | +0.201% | $2K | $26K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000005954 | −0.101% | $513 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000005949 | −0.185% | $404K | $489K | 75x | as long as short |
| Phemex u1000SHIBUSDTlong | +0.0100% | 8h | 0.000005960 | long leg | $2.1M | $7.9M | 50x | |
| Hyperliquid kSHIB | +0.0101% | 1h | 0.000005967 | +0.117% | $3.6M | $5.2M | 10x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0101% | 8h | 0.000005966 | +0.093% | $7K | $13 | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000005955 | −0.076% | $53K | $396 | 25x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0126% | 1h | 0.000005957 | −0.050% | $23K | $8K | 15x | as long as short |
| Kraken Futures PF_SHIBUSD | +0.0209% | 1h | 0.000005961 | +0.023% | $1.2M | $1.0M | 50x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0211% / S −0.2404% | 1h | 0.000005000 | −16.107% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000005946 | −0.235% | $827K | $889K | 50x | as long as short |
| Reya kSHIBRUSDPERPshort | +0.0323% | 1h | 0.000005956 | −0.065% | $1 | — | 20x | |
| dYdX SHIB-USD | +0.6758% | 1h | 0.000005961 | +0.023% | $31K | $52K | 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
Hyperliquid kSHIB
Paradex kSHIB-USD-PERP
Extended 1000SHIB-USD
Backpack kSHIB_USDC_PERP
Kraken Futures PF_SHIBUSD
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
dYdX SHIB-USD