SHIB

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0262%/8h= −28.7% APRnext payment −$0.33 per $10,000 · paid last 24h 0.000%

Price spread now: Kraken Futures against Coinbase International+0.124%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$630.629% of the position

Long on Coinbase International Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.058%+$6 on $10k

Price spread, last 4 days (all we have)0.000%$0 · spread now +0.124%, 7d avg +0.014%

Together, before fees+0.058%+$6 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.109% dearer against Coinbase International than usual: you sell high and buy low (spread +0.124% now, against its 7-day average of +0.014%): +$11 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 33 hours. Mind the row above: over the last 7 days funding on this pair paid +0.058%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.058% in total (about 3.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.33 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International 1000SHIB-PERP-INTX	0.000005958	−0.0032	get 0.0004% / 1h	26m 20s	$134K	$1.1M	50x
Short	Kraken Futures PF_SHIBUSD	0.000005965	−0.0294	pay 0.0037% / 1h	26m 20s	$1.1M	$904K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Coinbase InternationalbpFee Kraken FuturesbpOrdersPrice spread, now +0.124%Rate

Funding earned: −$55.06
Price spread: +0.124% → +0.014%: $10.92
Slippage, 4 orders: −$42.87
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$107
Costs to cover: 0.629%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; Kraken Futures: live order book, 2 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 Coinbase International live order book, 2 min ago	9.22 bp	14.2 bp −$14	22.8 bp −$228	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 2 min ago	3.35 bp	14.6 bp −$15	28.8 bp −$288	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
Kraken Futures PF_SHIBUSDshort	−0.0294%	1h	0.000005965	+0.124%	$1.1M	$904K	50x
Coinbase International 1000SHIB-PERP-INTXlong	−0.0032%	1h	0.000005958	long leg	$134K	$1.1M	50x
dYdX SHIB-USD	0.0000%	1h	0.000005966	+0.131%	$23K	$64K	10x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000005969	+0.188%	$191K	$2.3M	2x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S 0.0000%	1h	0.000005965	+0.109%	$563	—	150x	as long as short
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	+1.376%	$248	$134K	5.5x	as long as short
BingX 1000SHIB-USDT	+0.0080%	8h	0.000005968	+0.168%	—	$2.1M	—	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	+0.0085%	1h	0.000005969	+0.185%	$46K	$61K	25x	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000005969	+0.185%	$160K	$614K	10x	as long as short
Hyperliquid kSHIB	+0.0100%	1h	0.000005976	+0.302%	$3.6M	$4.8M	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster 1000SHIBUSDT	+0.0100%	8h	0.000005969	+0.182%	$41K	$318K	50x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000005970	+0.201%	$29.2M	$102.4M	75x	as long as short
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000005969	+0.185%	$9.2M	$35.9M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000005963	+0.084%	$6.9M	$5.8M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000005968	+0.168%	$29.4M	$17.4M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000005968	+0.168%	$4.9M	$2.7M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000005967	+0.151%	$11.2M	$14.3M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000005967	+0.151%	$23K	$7K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000005970	+0.201%	$6K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000005978	+0.336%	$2K	$24K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000005969	+0.185%	$494	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000005965	+0.117%	$408K	$583K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000005965	+0.117%	$2.1M	$6.7M	50x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000005966	+0.128%	$53K	$4K	25x	as long as short
Paradex kSHIB-USD-PERP	+0.0111%	8h	0.000005968	+0.170%	$7K	$13	20x	as long as short
Pacifica kSHIB	+0.0135%	1h	0.000005969	+0.185%	$12K	$4K	10x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0213% / S −0.2404%	1h	0.000005000	−16.079%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000005964	+0.101%	$870K	$893K	50x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000005968	+0.170%	$1	—	20x	as long as short