Funding you earn now, next payment 23:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h −0.017%
Price spread now: Coinbase International against BingX+0.067%7-day average +0.004% · you sell dearer than you buy
Net, funding: paid 7d − costs−$52as in the Funding arb table
Net, price: spread back to 7d avg − costs−$46as in the Price arb table
costs, in and out, $10k−$520.522% of the position
Funding, last 7 days−0.001%$0 on $10k
+Price spread, last 3 days (all we have)−0.067%−$7 · spread now +0.067%, 7d avg +0.004%
=The price spread pays, funding is against you. Coinbase International is 0.063% dearer against BingX than usual: you sell high and buy low (spread +0.067% now, against its 7-day average of +0.004%): +$6 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.4 days. At the pace of the last 7 days (−0.001% in total) that is about 21 months.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BingX 1000SHIB-USDC | 0.000005998 | 0.0080 | pay 0.0080% / 8h | 20m 30s | — | $1.6M | — |
| Short | Coinbase International 1000SHIB-PERP-INTX | 0.000006002 | 0.0032 | get 0.0004% / 1h | 20m 30s | $76K | $795K | 50x |
BingX 1000SHIB-USDC
Coinbase International 1000SHIB-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against BingX. 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
- −$10.08
- Price spread: +0.067% → +0.004%
- $6.3
- Slippage, 4 orders
- −$32.17
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$55.95
- Costs to cover
- 0.522%
- Break-even
- never at this rate
Slippage from BingX: live order book, 12 min ago; Coinbase International: live order book, 58 min ago.
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 BingX live order book, 12 min ago | 1.66 bp | 13.9 bp −$14 | 35.6 bp −$356 | 250.8 bp −$25.1K | 921.4 bp −$460.7K |
| Sell Coinbase International live order book, 58 min ago | 6.59 bp | 13.2 bp −$13 | 19.2 bp −$192 | doesn't fit | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit 1000SHIB_USDC-PERPETUAL | −0.0083% | 1h | 0.000005996 | −0.033% | $46K | $65K | 25x | as long as short |
| dYdX SHIB-USD | 0.0000% | 1h | 0.000006002 | +0.066% | $23K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000006009 | +0.177% | $77K | $1.9M | 2x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S −0.0001% | 1h | 0.000006001 | +0.050% | $730 | — | 150x | as long as short |
| Coinbase International 1000SHIB-PERP-INTXshort | +0.0032% | 1h | 0.000006002 | +0.067% | $76K | $795K | 50x | |
| BingX 1000SHIB-USDClong | +0.0080% | 8h | 0.000005998 | long leg | — | $1.6M | — | |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006005 | +0.117% | $151K | $293K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006002 | +0.062% | $35K | $173K | 50x | as long as short |
| Pacifica kSHIB | +0.0100% | 1h | 0.000006001 | +0.050% | $12K | $4K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000005996 | −0.038% | $29.4M | $95.8M | 75x | as long as short |
Deribit 1000SHIB_USDC-PERPETUAL
dYdX SHIB-USD
Kalshi KXKSHIBPERP
gTrade (Gains Network) SHIB/USD
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 | 0.000005996 | −0.033% | $8.6M | $32.6M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000005994 | −0.067% | $6.9M | $5.6M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006000 | +0.033% | $31.1M | $16.7M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006000 | +0.033% | $4.9M | $2.6M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000005998 | 0.000% | $11.4M | $13.4M | 75x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0100% | 1h | 0.000006002 | +0.067% | $25K | $6K | 15x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000005998 | 0.000% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006008 | +0.167% | $2K | $24K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000005998 | 0.000% | $539 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006001 | +0.050% | $410K | $618K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000006002 | +0.067% | $2.1M | $6.1M | 50x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0101% | 8h | 0.000006002 | +0.060% | $7K | — | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000005998 | +0.006% | $53K | $4K | 25x | as long as short |
| Injective SHIB/USDC PERP | +0.0161% | 1h | 0.000006040 | +0.700% | $248 | $134K | 5.5x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000006000 | +0.033% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006000 | +0.033% | $811K | $937K | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006003 | +0.087% | $1 | — | 20x | as long as short |
| Kraken Futures PF_SHIBUSD | +0.0385% | 1h | 0.000005996 | −0.037% | $1.1M | $812K | 50x | as long as short |
| Hyperliquid kSHIB | +0.0615% | 1h | 0.000006015 | +0.283% | $4.3M | $4.0M | 10x | as long as short |
OKX SHIB-USDT-SWAP
Gate SHIB_USDT
MEXC SHIB_USDT
KuCoin SHIBUSDTM
Bitget SHIBUSDT
Backpack kSHIB_USDC_PERP
Orderly PERP_1000SHIB_USDC
SunX SHIB-USDT
SoDEX 1000SHIB-USD
HTX SHIB-USDT
Phemex u1000SHIBUSDT
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