Funding you earn now, next payment 00:00 UTC−0.0031%/8h= −3.4% APRnext payment −$0.04 per $10,000 · paid last 24h +0.012%
Price spread now: Injective against Coinbase International−0.396%64s7-day average −0.047% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.024%−$2 on $10k
+Price spread, last 3 days (all we have)+0.189%+$19 · spread now −0.396%, 7d avg −0.047%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Injective is 0.349% cheaper against Coinbase International than usual: you would sell low and buy high (−$35 if the spread goes back to its 7-day average of −0.047%). Swap the legs. The two prices were read 64 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 | Coinbase International 1000SHIB-PERP-INTX | 0.000006064 | 0.0064 | pay 0.0008% / 1h | 28m 10s | $78K | $870K | 50x |
| Short | Injective SHIB/USDC PERP | 0.000006040 | 0.0033 | get 0.0004% / 1h | 28m 10s | $248 | $134K | 5.5x |
Coinbase International 1000SHIB-PERP-INTX
Injective SHIB/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Coinbase International. 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
- −$6.44
- Price spread: −0.396% → −0.047%
- −$34.91
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$51.37
- Costs to cover
- 0.100%
- Break-even
- never at this rate
Slippage unknown: Coinbase International: live order book, 45 min ago; 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 Coinbase International live order book, 45 min ago | 7.51 bp | 14.1 bp −$14 | 21.0 bp −$210 | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX SHIB-USD | 0.0000% | 1h | 0.000006072 | +0.132% | $23K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000006073 | +0.143% | $208K | $2.3M | 2x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | 0.0000% | 1h | 0.000006073 | +0.148% | $47K | $65K | 25x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S −0.0001% | 1h | 0.000006069 | +0.087% | $738 | — | 150x | as long as short |
| Injective SHIB/USDC PERPshort | +0.0033% | 1h | 0.000006040 | −0.396% | $248 | $134K | 5.5x | |
| Coinbase International 1000SHIB-PERP-INTXlong | +0.0064% | 1h | 0.000006064 | long leg | $78K | $870K | 50x | |
| BingX 1000SHIB-USDT | +0.0080% | 8h | 0.000006073 | +0.148% | — | $2.1M | — | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006077 | +0.214% | $240K | $469K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006065 | +0.024% | $37K | $179K | 50x | as long as short |
| Pacifica kSHIB | +0.0100% | 1h | 0.000006077 | +0.214% | $12K | $4K | 10x | as long as short |
dYdX SHIB-USD
Kalshi KXKSHIBPERP
Deribit 1000SHIB_USDC-PERPETUAL
gTrade (Gains Network) SHIB/USD
BingX 1000SHIB-USDT
Lighter 1000SHIB
Aster 1000SHIBUSDT
Pacifica kSHIBShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006074 | +0.165% | $29.7M | $98.4M | 75x | as long as short |
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000006073 | +0.148% | $9.3M | $34.7M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006070 | +0.099% | $7.0M | $5.6M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006074 | +0.165% | $31.4M | $16.8M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006073 | +0.148% | $4.9M | $2.6M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006073 | +0.148% | $11.5M | $13.8M | 75x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006073 | +0.148% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006079 | +0.247% | $2K | $24K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006075 | +0.181% | $521 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006072 | +0.132% | $416K | $597K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000006072 | +0.132% | $2.1M | $6.3M | 50x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006072 | +0.131% | $54K | $4K | 25x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0120% | 8h | 0.000006080 | +0.266% | $7K | $13 | 20x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000006000 | −1.055% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006070 | +0.099% | $807K | $939K | 50x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0229% | 1h | 0.000006073 | +0.148% | $23K | $7K | 15x | as long as short |
| Kraken Futures PF_SHIBUSD | +0.0258% | 1h | 0.000006076 | +0.197% | $1.2M | $830K | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006073 | +0.141% | $1 | — | 20x | as long as short |
| Hyperliquid kSHIB | +0.0690% | 1h | 0.000006082 | +0.297% | $4.4M | $4.0M | 10x | as long as short |
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
Extended 1000SHIB-USD
Paradex kSHIB-USD-PERP
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Backpack kSHIB_USDC_PERP
Kraken Futures PF_SHIBUSD
Reya kSHIBRUSDPERP
Hyperliquid kSHIB