Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0035%/8h= +3.8% APRpaid last 24h +0.001%

Price spread now: Pacifica against SunX−0.067%7-day average — · you buy dearer than you sell

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

Long on SunX Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

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

Funding pays, the price is against you. Pacifica is 0.067% cheaper against SunX than usual: you would sell low and buy high (spread −0.067% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 6.4 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX SHIB-USDT	0.000005992	0.0100	pay 0.0100% / 8h	5h 17m	$2K	$24K	20x
Short	Pacifica kSHIB	0.000005988	0.0135	get 0.0017% / 1h	17m 27s	$12K	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against SunX. 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 SunXbpFee PacificabpOrdersPrice spread, now −0.067%Rate

Funding earned: $7.32
Price spread: −0.067% → 0.000%: −$6.68
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$15.35
Costs to cover: 0.160%
Break-even: 21.7 days

Slippage unknown: SunX: no order-book sample; Pacifica: 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 SunX no order-book sample	—	—	—	—	—
Sell Pacifica no order-book sample	—	—	—	—	—

SunX and Pacifica: 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	−0.0293%	1h	0.000005980	−0.193%	$1.1M	$905K	50x	as long as short
Coinbase International 1000SHIB-PERP-INTX	−0.0032%	1h	0.000005995	+0.050%	$133K	$1.1M	50x	as long as short
dYdX SHIB-USD	0.0000%	1h	0.000005984	−0.137%	$23K	$64K	10x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000005990	−0.037%	$191K	$2.3M	2x	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	0.0000%	1h	0.000005981	−0.184%	$46K	$61K	25x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S 0.0000%	1h	0.000005989	−0.042%	$565	—	150x	as long as short
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	+0.801%	$248	$134K	5.5x	as long as short
BingX 1000SHIB-USDC	+0.0080%	8h	0.000005992	0.000%	—	$1.6M	—	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000005991	−0.017%	$161K	$614K	10x	as long as short
Hyperliquid kSHIB	+0.0100%	1h	0.000005993	+0.017%	$3.6M	$4.8M	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster 1000SHIBUSDT	+0.0100%	8h	0.000005988	−0.061%	$41K	$318K	50x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000005988	−0.059%	$29.3M	$102.4M	75x	as long as short
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000005988	−0.067%	$9.3M	$36.0M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000005981	−0.184%	$6.9M	$5.8M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000005988	−0.067%	$29.6M	$17.4M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000005986	−0.100%	$4.9M	$2.7M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000005984	−0.134%	$11.2M	$14.3M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000005986	−0.100%	$23K	$7K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000005980	−0.200%	$6K	$4K	20x	as long as short
SunX SHIB-USDTlong	+0.0100%	8h	0.000005992	long leg	$2K	$24K	20x
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000005982	−0.167%	$491	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000005980	−0.200%	$409K	$583K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000005990	−0.033%	$2.1M	$6.7M	50x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000005985	−0.118%	$53K	$4K	25x	as long as short
Paradex kSHIB-USD-PERP	+0.0111%	8h	0.000005989	−0.047%	$7K	$13	20x	as long as short
Pacifica kSHIBshort	+0.0135%	1h	0.000005988	−0.067%	$12K	$4K	10x
GMX SHIB/USD [ETH-USDC]	L +0.0213% / S −0.2404%	1h	0.000005000	−16.555%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000005997	+0.083%	$872K	$900K	50x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000005986	−0.101%	$1	—	20x	as long as short