Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0223%/8h= −24.4% APRpaid last 24h −0.067%

Price spread now: Bitget against Reya+0.100%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 Bitget

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. Bitget is 0.100% dearer against Reya than usual: you sell high and buy low (spread +0.100% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 36 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya kSHIBRUSDPERP	0.000005935	0.0323	pay 0.0040% / 1h	50m 51s	$1	—	20x
Short	Bitget SHIBUSDT	0.000005941	0.0100	get 0.0100% / 8h	4h 50m	$11.2M	$14.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.100%Rate

Funding earned: −$46.75
Price spread: +0.100% → 0.000%: $10.05
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$54.7
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Bitget: live order book, 3 min ago. 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 Bitget live order book, 3 min ago	1.68 bp	9.7 bp −$10	17.5 bp −$175	44.4 bp −$4,437	doesn't fit

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
Kraken Futures PF_SHIBUSD	−0.0355%	1h	0.000005934	−0.023%	$1.1M	$925K	50x	as long as short
Coinbase International 1000SHIB-PERP-INTX	−0.0088%	1h	0.000005941	+0.100%	$125K	$1.1M	50x	as long as short
dYdX SHIB-USD	0.0000%	1h	0.000005930	−0.085%	$23K	$64K	10x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000005934	−0.009%	$192K	$2.3M	2x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S 0.0000%	1h	0.000005934	−0.026%	$560	—	150x	as long as short
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	+1.769%	$248	$134K	5.5x	as long as short
BingX 1000SHIB-USDC	+0.0080%	8h	0.000005943	+0.134%	—	$1.6M	—	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	+0.0087%	1h	0.000005939	+0.067%	$45K	$61K	25x	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000005934	−0.017%	$159K	$603K	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000005940	+0.082%	$40K	$321K	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kSHIB	+0.0100%	1h	0.000005933	−0.034%	$12K	$4K	10x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000005932	−0.044%	$29.1M	$103.3M	75x	as long as short
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000005930	−0.085%	$9.2M	$36.0M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000005938	+0.050%	$6.9M	$5.9M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000005942	+0.117%	$29.8M	$17.7M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000005939	+0.067%	$4.8M	$2.7M	75x	as long as short
Bitget SHIBUSDTshort	+0.0100%	8h	0.000005941	+0.100%	$11.2M	$14.5M	75x
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000005939	+0.067%	$23K	$7K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000005935	−0.001%	$6K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000005950	+0.252%	$2K	$24K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000005935	−0.001%	$489	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000005939	+0.067%	$405K	$566K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000005940	+0.084%	$2.1M	$6.8M	50x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000005940	+0.090%	$53K	$4K	25x	as long as short
Paradex kSHIB-USD-PERP	+0.0110%	8h	0.000005936	+0.015%	$7K	$13	20x	as long as short
Hyperliquid kSHIB	+0.0114%	1h	0.000005946	+0.185%	$3.6M	$4.8M	10x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0213% / S −0.2404%	1h	0.000005000	−15.755%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000005935	−0.001%	$875K	$884K	50x	as long as short
Reya kSHIBRUSDPERPlong	+0.0323%	1h	0.000005935	long leg	$1	—	20x