Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.6035%/8hnext payment −$7.54 per $10,000 · paid last 24h −0.815%

Price spread now: gTrade (Gains Network) against dYdX+0.034%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on dYdX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 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

The price spread pays, funding is against you. gTrade (Gains Network) is 0.034% dearer against dYdX than usual: you sell high and buy low (spread +0.034% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$181 a day in funding at the current rate, which eats that in about under an hour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX SHIB-USD	0.000005923	0.6036	pay 0.0755% / 1h	3m 53s	$23K	$66K	10x
Short	gTrade (Gains Network) SHIB/USD	0.000005925	L +0.0006% / S −0.0001%	get 0.0000% / 1h	3m 53s	$721	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against dYdX. 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 dYdXbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.034%Rate

Funding earned: −$1,267.34
Price spread: +0.034% → 0.000%: $3.38
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$1,283.97
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: dYdX: no order-book sample; gTrade (Gains Network): 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 dYdX no order-book sample	—	—	—	—	—
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

dYdX and gTrade (Gains Network): 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
Kalshi KXKSHIBPERP	0.0000%	8h	0.000005928	+0.081%	$86K	$1.5M	2x	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	0.0000%	1h	0.000005929	+0.101%	$42K	$64K	25x	as long as short
BingX 1000SHIB-USDT	+0.0003%	8h	0.000005926	+0.051%	—	$2.1M	—	as long as short
gTrade (Gains Network) SHIB/USDshort	L +0.0006% / S −0.0001%	1h	0.000005925	+0.034%	$721	—	150x
Injective SHIB/USDC PERP	+0.0033%	1h	0.000005767	−2.634%	$236	$36K	5.5x	as long as short
Coinbase International 1000SHIB-PERP-INTX	+0.0088%	1h	0.000005887	−0.608%	$92K	$843K	50x	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000005927	+0.068%	$151K	$289K	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000005929	+0.099%	$35K	$160K	50x	as long as short
Pacifica kSHIB	+0.0100%	1h	0.000005926	+0.051%	$11K	$4K	10x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000005930	+0.118%	$29.0M	$84.9M	75x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000005923	0.000%	$7.7M	$27.1M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000005923	0.000%	$6.7M	$5.4M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000005923	0.000%	$32.8M	$14.9M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000005927	+0.068%	$4.8M	$2.4M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000005927	+0.068%	$11.4M	$12.2M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000005928	+0.084%	$27K	$4K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000005925	+0.034%	$6K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000005933	+0.169%	$2K	$23K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000005931	+0.135%	$555	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000005924	+0.017%	$400K	$636K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000005929	+0.101%	$2.1M	$5.1M	50x	as long as short
Paradex kSHIB-USD-PERP	+0.0100%	8h	0.000005925	+0.028%	$7K	—	20x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000005924	+0.020%	$52K	$4K	25x	as long as short
Kraken Futures PF_SHIBUSD	+0.0143%	1h	0.000005925	+0.031%	$1.1M	$719K	50x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0213% / S −0.2404%	1h	0.000005000	−15.583%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000005915	−0.135%	$724K	$1.1M	50x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000005920	−0.057%	$1	—	20x	as long as short
Hyperliquid kSHIB	+0.0564%	1h	0.000005938	+0.253%	$4.3M	$3.7M	10x	as long as short
dYdX SHIB-USDlong	+0.6036%	1h	0.000005923	long leg	$23K	$66K	10x