Funding you earn now, next payment 11:00 UTC+0.0080%/8h= +8.8% APRnext payment +$0.10 per $10,000 · paid last 24h +0.033%
Price spread now: Lighter against Coinbase International+0.730%7-day average +0.012% · you sell dearer than you buy
Net, funding: paid 7d − costs−$38as in the Funding arb table
Net, price: spread back to 7d avg − costs+$33as in the Price arb table
costs, in and out, $10k−$390.390% of the position
Funding, last 7 days+0.011%+$1 on $10k
+Price spread, last 4 days (all we have)−0.680%−$68 · spread now +0.730%, 7d avg +0.012%
=Together, before fees−0.669%+ Points / potential airdropLighter: Season 3 · farm board−$67 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Lighter is 0.718% dearer against Coinbase International than usual: you sell high and buy low: +$72 more if the spread goes back to its 7-day average of +0.012%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International 1000SHIB-PERP-INTX | 0.000005889 | 0.0016 | pay 0.0002% / 1h | 47m 05s | $142K | $1.7M | 50x |
| Short | Lighter 1000SHIB | 0.000005932 | 0.0096 | get 0.0012% / 1h | 47m 05s | $169K | $623K | 10x |
Coinbase International 1000SHIB-PERP-INTX
Lighter 1000SHIBFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- $16.8
- Price spread: +0.730% → +0.012%
- $71.78
- Slippage, 4 orders
- −$29.05
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $49.53
- Costs to cover
- 0.390%
- Break-even
- from the start
Slippage from Coinbase International: live order book, 5 min ago; Lighter: live order book, 51 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, 5 min ago | 4.21 bp | 10.9 bp −$11 | 17.3 bp −$173 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 51 min ago | 0.83 bp | 8.7 bp −$9 | 62.2 bp −$622 | doesn't fit | doesn't fit |
SHIB on 29 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000005920 | +0.520% | $143K | $3.9M | 2x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000005928 | +0.662% | $560 | — | 150x | as long as short |
| Coinbase International 1000SHIB-PERP-INTXlong | +0.0016% | 1h | 0.000005889 | long leg | $142K | $1.7M | 50x | |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | +2.564% | $248 | $134K | 5.5x | as long as short |
| BingX 1000SHIB-USDT | +0.0070% | 8h | 0.000005930 | +0.696% | — | $2.2M | — | as long as short |
| Lighter 1000SHIBshort | +0.0096% | 1h | 0.000005932 | +0.730% | $169K | $623K | 10x | |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000005929 | +0.688% | $43K | $285K | 50x | as long as short |
| Pacifica kSHIB | +0.0100% | 1h | 0.000005917 | +0.475% | $12K | $5K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000005934 | +0.764% | $30.8M | $131.4M | 75x | as long as short |
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000005927 | +0.645% | $8.7M | $47.2M | 50x | as long as short |
Kalshi KXKSHIBPERP
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
BingX 1000SHIB-USDT
Aster 1000SHIBUSDT
Pacifica kSHIB
Binance 1000SHIBUSDT
OKX SHIB-USDT-SWAPShow all 29 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate SHIB_USDT | +0.0100% | 8h | 0.000005929 | +0.679% | $7.0M | $6.8M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000005929 | +0.679% | $27.3M | $19.2M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000005930 | +0.696% | $4.7M | $3.3M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000005932 | +0.730% | $11.4M | $17.7M | 75x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0100% | 1h | 0.000005936 | +0.798% | $23K | $9K | 15x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000005933 | +0.747% | $6K | $2K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000005942 | +0.900% | $2K | $25K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000005930 | +0.696% | $513 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000005930 | +0.696% | $405K | $494K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000005937 | +0.815% | $2.1M | $7.8M | 50x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0102% | 8h | 0.000005920 | +0.527% | $7K | $13 | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000005927 | +0.641% | $52K | $4K | 25x | as long as short |
| Kraken Futures PF_SHIBUSD | +0.0210% | 1h | 0.000005931 | +0.719% | $1.2M | $1.0M | 50x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0211% / S −0.2404% | 1h | 0.000005000 | −15.096% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000005924 | +0.594% | $917K | $878K | 50x | as long as short |
| Hyperliquid kSHIB | +0.0239% | 1h | 0.000005937 | +0.815% | $3.6M | $5.2M | 10x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | +0.0256% | 1h | 0.000005933 | +0.747% | $51K | $50K | 25x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000005927 | +0.645% | $1 | — | 20x | as long as short |
| dYdX SHIB-USD | +1.1354% | 1h | 0.000005912 | +0.398% | $31K | $52K | 10x | as long as short |
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
Kraken Futures PF_SHIBUSD
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Hyperliquid kSHIB
Deribit 1000SHIB_USDC-PERPETUAL
Reya kSHIBRUSDPERP
dYdX SHIB-USD