Funding you earn now, next payment 08:00 UTC+0.0190%/8h= +20.8% APRnext payment +$0.24 per $10,000 · paid last 24h +0.065%
Price spread now: Hyperliquid against Backpack+0.083%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 6 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories
Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Hyperliquid is 0.083% dearer against Backpack than usual: you sell high and buy low: +$8 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack kSHIB_USDC_PERP | 0.000006049 | 0.0100 | pay 0.0013% / 1h | 42m 46s | $23K | $8K | 15x |
| Short | Hyperliquid kSHIB | 0.000006054 | 0.0290 | get 0.0036% / 1h | 42m 46s | $3.6M | $5.5M | 10x |
Backpack kSHIB_USDC_PERP
Hyperliquid kSHIBFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Backpack. 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
- $39.89
- Price spread: +0.083% → 0.000%
- $8.27
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $29.16
- Costs to cover
- 0.190%
- Break-even
- 1.9 days
Slippage unknown: Backpack: no order-book sample; Hyperliquid: live order book, 9 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 Backpack no order-book sample | — | — | — | — | — |
| Sell Hyperliquid live order book, 9 min ago | 0.83 bp | 10.2 bp −$10 | 17.9 bp −$179 | doesn't fit | doesn't fit |
Backpack: 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International 1000SHIB-PERP-INTX | −0.0016% | 1h | 0.000006025 | −0.397% | $117K | $1.6M | 50x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000006026 | −0.380% | $116K | $3.2M | 2x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000006024 | −0.405% | $570 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | −0.149% | $248 | $134K | 5.5x | as long as short |
| BingX 1000SHIB-USDT | +0.0070% | 8h | 0.000006053 | +0.066% | — | $2.3M | — | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006059 | +0.165% | $158K | $640K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006050 | +0.015% | $41K | $329K | 50x | as long as short |
| Pacifica kSHIB | +0.0100% | 1h | 0.000006054 | +0.083% | $12K | $5K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006057 | +0.130% | $30.5M | $127.4M | 75x | as long as short |
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000006051 | +0.033% | $9.2M | $43.6M | 50x | as long as short |
Coinbase International 1000SHIB-PERP-INTX
Kalshi KXKSHIBPERP
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
BingX 1000SHIB-USDT
Lighter 1000SHIB
Aster 1000SHIBUSDT
Pacifica kSHIB
Binance 1000SHIBUSDT
OKX SHIB-USDT-SWAPShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006041 | −0.132% | $7.1M | $7.3M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006052 | +0.050% | $28.1M | $19.8M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006044 | −0.083% | $4.7M | $3.2M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006055 | +0.099% | $11.4M | $17.1M | 75x | as long as short |
| Backpack kSHIB_USDC_PERPlong | +0.0100% | 1h | 0.000006049 | long leg | $23K | $8K | 15x | |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006039 | −0.165% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006041 | −0.132% | $2K | $27K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006036 | −0.215% | $517 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006030 | −0.314% | $411K | $576K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000006033 | −0.265% | $2.1M | $7.6M | 50x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0104% | 8h | 0.000006058 | +0.149% | $7K | $13 | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006044 | −0.085% | $53K | $4K | 25x | as long as short |
| Kraken Futures PF_SHIBUSD | +0.0199% | 1h | 0.000006034 | −0.244% | $1.2M | $1.0M | 50x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0212% / S −0.2404% | 1h | 0.000006000 | −0.810% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006033 | −0.265% | $868K | $939K | 50x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | +0.0247% | 1h | 0.000006038 | −0.182% | $50K | $59K | 25x | as long as short |
| Hyperliquid kSHIBshort | +0.0290% | 1h | 0.000006054 | +0.083% | $3.6M | $5.5M | 10x | |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006027 | −0.360% | $1 | — | 20x | as long as short |
| dYdX SHIB-USD | +0.1897% | 1h | 0.000006055 | +0.096% | $36K | $70K | 10x | as long as short |
Gate SHIB_USDT
MEXC SHIB_USDT
KuCoin SHIBUSDTM
Bitget SHIBUSDT
Orderly PERP_1000SHIB_USDC
SunX SHIB-USDT
SoDEX 1000SHIB-USD
HTX SHIB-USDT
Phemex u1000SHIBUSDT
Paradex kSHIB-USD-PERP
Extended 1000SHIB-USD
Kraken Futures PF_SHIBUSD
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Deribit 1000SHIB_USDC-PERPETUAL
Reya kSHIBRUSDPERP
dYdX SHIB-USD