Funding arb · Price arb /

SHIB

all SHIB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0223%/8h= −24.4% APRpaid last 24h −0.067%

Price spread now: Binance against Reya+0.107%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Reya Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread pays, funding is against you. Binance is 0.107% dearer against Reya than usual: you sell high and buy low (spread +0.107% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 39 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya kSHIBRUSDPERP	0.000005963	0.0323	pay 0.0040% / 1h	27m 25s	$1	—	20x
Short	Binance 1000SHIBUSDT	0.000005969	0.0100	get 0.0100% / 8h	2h 27m	$29.0M	$88.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Reya. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee ReyabpFee BinancebpOrdersPrice spread, now +0.107%Rate

Funding earned: −$46.75
Price spread: +0.107% → 0.000%: $10.73
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Binance: 5 bp × 2 orders: −$10
Net: −$52.02
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Binance: live order book, just now. 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 Reya no order-book sample	—	—	—	—	—
Sell Binance live order book, just now	0.84 bp	7.6 bp −$8	18.6 bp −$186	69.4 bp −$6,942	184.7 bp −$92.3K

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 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
Kalshi KXKSHIBPERP	0.0000%	8h	0.000005945	−0.304%	$52K	$1.6M	2x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S −0.0001%	1h	0.000005966	+0.053%	$726	—	150x	as long as short
Coinbase International 1000SHIB-PERP-INTX	+0.0016%	1h	0.000005933	−0.504%	$89K	$752K	50x	as long as short
BingX 1000SHIB-USDT	+0.0026%	8h	0.000005967	+0.066%	—	$2.1M	—	as long as short
Kraken Futures PF_SHIBUSD	+0.0056%	1h	0.000005950	−0.220%	$1.1M	$763K	50x	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000005964	+0.016%	$152K	$286K	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000005961	−0.026%	$35K	$179K	50x	as long as short
Pacifica kSHIB	+0.0100%	1h	0.000005962	−0.017%	$11K	$4K	10x	as long as short
Binance 1000SHIBUSDTshort	+0.0100%	8h	0.000005969	+0.107%	$29.0M	$88.2M	75x
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000005967	+0.066%	$7.6M	$27.9M	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate SHIB_USDT	+0.0100%	8h	0.000005962	−0.017%	$6.8M	$5.4M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000005962	−0.017%	$31.8M	$15.6M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000005964	+0.016%	$4.9M	$2.3M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000005969	+0.100%	$11.7M	$12.5M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000005956	−0.118%	$25K	$5K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000005972	+0.150%	$6K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000005974	+0.184%	$2K	$23K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000005967	+0.066%	$548	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000005950	−0.219%	$401K	$620K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000005944	−0.319%	$2.1M	$5.4M	50x	as long as short
Paradex kSHIB-USD-PERP	+0.0100%	8h	0.000005967	+0.070%	$7K	—	20x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000005961	−0.037%	$53K	$4K	25x	as long as short
Injective SHIB/USDC PERP	+0.0187%	1h	0.000005964	+0.016%	$245	$67K	5.5x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0213% / S −0.2404%	1h	0.000005000	−16.150%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000005934	−0.487%	$707K	$982K	50x	as long as short
Reya kSHIBRUSDPERPlong	+0.0323%	1h	0.000005963	long leg	$1	—	20x
Deribit 1000SHIB_USDC-PERPETUAL	+0.0420%	1h	0.000005972	+0.150%	$42K	$61K	25x	as long as short
Hyperliquid kSHIB	+0.0667%	1h	0.000005976	+0.217%	$4.3M	$3.7M	10x	as long as short
dYdX SHIB-USD	+0.9104%	1h	0.000005960	−0.055%	$23K	$64K	10x	as long as short