Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%
Price spread now: Phemex against Backpack−0.115%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
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—needs both histories
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.115% cheaper against Backpack than usual: you would sell low and buy high, −$12 on $10k if it 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 | 0.000006077 | 0.0100 | pay 0.0013% / 1h | 16m 40s | $25K | $6K | 15x |
| Short | Phemex u1000SHIBUSDT | 0.000006070 | 0.0100 | get 0.0100% / 8h | 1h 16m | $2.1M | $5.8M | 50x |
Backpack kSHIB_USDC_PERP
Phemex u1000SHIBUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- $0
- Price spread: −0.115% → 0.000%
- −$11.52
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$33.52
- Costs to cover
- 0.220%
- Break-even
- never at this rate
Slippage unknown: Backpack: no order-book sample; Phemex: live order book, 2 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 Phemex live order book, 2 min ago | 5.76 bp | 15.9 bp −$16 | 59.2 bp −$592 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX SHIB-USD | 0.0000% | 1h | 0.000006078 | +0.014% | $23K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000006078 | +0.016% | $73K | $1.9M | 2x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S −0.0001% | 1h | 0.000006070 | −0.115% | $738 | — | 150x | as long as short |
| Coinbase International 1000SHIB-PERP-INTX | +0.0008% | 1h | 0.000006070 | −0.115% | $81K | $785K | 50x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | +0.0079% | 1h | 0.000006074 | −0.049% | $47K | $65K | 25x | as long as short |
| BingX 1000SHIB-USDT | +0.0080% | 8h | 0.000006081 | +0.066% | — | $2.1M | — | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006079 | +0.033% | $153K | $290K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006074 | −0.046% | $35K | $175K | 50x | as long as short |
| Pacifica kSHIB | +0.0100% | 1h | 0.000006081 | +0.066% | $12K | $4K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006081 | +0.068% | $29.9M | $93.7M | 75x | as long as short |
dYdX SHIB-USD
Kalshi KXKSHIBPERP
gTrade (Gains Network) SHIB/USD
Coinbase International 1000SHIB-PERP-INTX
Deribit 1000SHIB_USDC-PERPETUAL
BingX 1000SHIB-USDT
Lighter 1000SHIB
Aster 1000SHIBUSDT
Pacifica kSHIB
Binance 1000SHIBUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000006084 | +0.115% | $8.8M | $32.1M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006081 | +0.066% | $7.0M | $5.6M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006075 | −0.033% | $30.7M | $16.2M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006081 | +0.066% | $4.9M | $2.5M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006083 | +0.099% | $11.6M | $13.1M | 75x | as long as short |
| Backpack kSHIB_USDC_PERPlong | +0.0100% | 1h | 0.000006077 | long leg | $25K | $6K | 15x | |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006071 | −0.099% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006082 | +0.082% | $2K | $23K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006072 | −0.082% | $539 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006072 | −0.082% | $414K | $618K | 75x | as long as short |
| Phemex u1000SHIBUSDTshort | +0.0100% | 8h | 0.000006070 | −0.115% | $2.1M | $5.8M | 50x | |
| Paradex kSHIB-USD-PERP | +0.0103% | 8h | 0.000006080 | +0.045% | $7K | — | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006082 | +0.087% | $54K | $4K | 25x | as long as short |
| Injective SHIB/USDC PERP | +0.0141% | 1h | 0.000006040 | −0.609% | $248 | $134K | 5.5x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000006000 | −1.267% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006070 | −0.115% | $817K | $949K | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006069 | −0.124% | $1 | — | 20x | as long as short |
| Kraken Futures PF_SHIBUSD | +0.0356% | 1h | 0.000006073 | −0.067% | $1.2M | $797K | 50x | as long as short |
| Hyperliquid kSHIB | +0.0812% | 1h | 0.000006088 | +0.181% | $4.4M | $4.0M | 10x | as long as short |
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
Paradex kSHIB-USD-PERP
Extended 1000SHIB-USD
Injective SHIB/USDC PERP
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Reya kSHIBRUSDPERP
Kraken Futures PF_SHIBUSD
Hyperliquid kSHIB