Funding you earn now, next payment 06:00 UTC−0.0067%/8h= −7.3% APRnext payment −$0.08 per $10,000 · paid last 24h −0.012%
Price spread now: Injective against Backpack+0.583%72s7-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—needs both histories
The price spread pays, funding is against you. Injective is 0.583% dearer against Backpack than usual: you sell high and buy low (spread +0.583% now, against zero (this spread has no 7-day history yet)): +$58 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 29 days. The two prices were read 72 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 | Backpack kSHIB_USDC_PERP | 0.000006005 | 0.0100 | pay 0.0013% / 1h | 14m 04s | $23K | $7K | 15x |
| Short | Injective SHIB/USDC PERP | 0.000006040 | 0.0033 | get 0.0004% / 1h | 14m 04s | $248 | $134K | 5.5x |
Backpack kSHIB_USDC_PERP
Injective SHIB/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- −$14
- Price spread: +0.583% → 0.000%
- $58.28
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $34.26
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Backpack: no order-book sample; Injective: 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 Backpack no order-book sample | — | — | — | — | — |
| Sell Injective no order-book sample | — | — | — | — | — |
Backpack and Injective: 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 | −0.0593% | 1h | 0.000006007 | +0.033% | $1.1M | $1.0M | 50x | as long as short |
| Coinbase International 1000SHIB-PERP-INTX | −0.0128% | 1h | 0.000005947 | −0.966% | $116K | $1.6M | 50x | as long as short |
| dYdX SHIB-USD | 0.0000% | 1h | 0.000006002 | −0.053% | $23K | $56K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000006013 | +0.137% | $110K | $3.2M | 2x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000006004 | −0.025% | $567 | — | 150x | as long as short |
| Injective SHIB/USDC PERPshort | +0.0033% | 1h | 0.000006040 | +0.583% | $248 | $134K | 5.5x | |
| BingX 1000SHIB-USDC | +0.0070% | 8h | 0.000006004 | −0.017% | — | $1.6M | — | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | +0.0083% | 1h | 0.000006009 | +0.067% | $47K | $65K | 25x | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006011 | +0.100% | $158K | $636K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006003 | −0.039% | $41K | $336K | 50x | as long as short |
Kraken Futures PF_SHIBUSD
Coinbase International 1000SHIB-PERP-INTX
dYdX SHIB-USD
Kalshi KXKSHIBPERP
gTrade (Gains Network) SHIB/USD
BingX 1000SHIB-USDC
Deribit 1000SHIB_USDC-PERPETUAL
Lighter 1000SHIB
Aster 1000SHIBUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica kSHIB | +0.0100% | 1h | 0.000006006 | +0.017% | $12K | $5K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006006 | +0.017% | $30.3M | $124.4M | 75x | as long as short |
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000006002 | −0.050% | $9.2M | $42.7M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006004 | −0.017% | $7.0M | $7.3M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006001 | −0.067% | $28.3M | $19.3M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006003 | −0.033% | $4.7M | $3.2M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006005 | 0.000% | $11.3M | $17.1M | 75x | as long as short |
| Backpack kSHIB_USDC_PERPlong | +0.0100% | 1h | 0.000006005 | long leg | $23K | $7K | 15x | |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006009 | +0.067% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006018 | +0.216% | $2K | $27K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006007 | +0.033% | $513 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006008 | +0.050% | $409K | $572K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000006010 | +0.083% | $2.1M | $7.5M | 50x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0102% | 8h | 0.000006010 | +0.087% | $7K | $13 | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006003 | −0.035% | $53K | $4K | 25x | as long as short |
| Hyperliquid kSHIB | +0.0184% | 1h | 0.000006011 | +0.100% | $3.6M | $5.3M | 10x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000006000 | −0.083% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006007 | +0.033% | $894K | $926K | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006002 | −0.053% | $1 | — | 20x | as long as short |
Pacifica kSHIB
Binance 1000SHIBUSDT
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
Phemex u1000SHIBUSDT
Paradex kSHIB-USD-PERP
Extended 1000SHIB-USD
Hyperliquid kSHIB
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Reya kSHIBRUSDPERP