Funding you earn now, next payment 09:00 UTC−0.9983%/8h= −1093.2% APRpaid last 24h −0.700%
Price spread now: Kalshi against dYdX+0.221%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−1.651%−$165 on $10k
+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. Kalshi is 0.221% dearer against dYdX than usual: you sell high and buy low (spread +0.221% now, against zero (this spread has no 7-day history yet)): +$22 on $10k if it goes back. Holding the pair costs −$300 a day in funding at the current rate, which eats that in about 2 hours. At the pace of the last 7 days (−1.651% in total) that is about 22 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -1.651% in total (about -86.1% a year). A funding rate is set anew for every payment. 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 | dYdX SHIB-USD | 0.000005969 | 0.9983 | pay 0.1248% / 1h | 36m 19s | $23K | $82K | 10x |
| Short | Kalshi KXKSHIBPERP | 0.000005982 | 0 | get 0.0000% / 8h | 3h 36m | $144K | $3.2M | 2x |
dYdX SHIB-USD
Kalshi KXKSHIBPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kalshi against dYdX. 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
- −$2,096.5
- Price spread: +0.221% → 0.000%
- $22.07
- Slippage, 4 orders
- no order book: not counted
- Fee dYdX: 5 bp × 2 orders
- −$10
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Net
- −$2,094.43
- Costs to cover
- 0.200%
- Break-even
- from the start
Slippage unknown: dYdX: no order-book sample; Kalshi: live order book, 2 min ago. 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 Kalshi live order book, 2 min ago | 7.69 bp | 14.2 bp −$14 | 21.2 bp −$212 | doesn't fit | doesn't fit |
dYdX: 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International 1000SHIB-PERP-INTX | −0.0024% | 1h | 0.000005980 | +0.186% | $129K | $1.7M | 50x | as long as short |
| Kalshi KXKSHIBPERPshort | 0.0000% | 8h | 0.000005982 | +0.221% | $144K | $3.2M | 2x | |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000005978 | +0.152% | $564 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | +1.191% | $248 | $134K | 5.5x | as long as short |
| BingX 1000SHIB-USDC | +0.0070% | 8h | 0.000005970 | +0.018% | — | $1.6M | — | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | +0.0085% | 1h | 0.000005972 | +0.052% | $50K | $55K | 25x | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000005972 | +0.052% | $155K | $642K | 10x | as long as short |
| Gate SHIB_USDT | +0.0099% | 8h | 0.000005965 | −0.066% | $7.0M | $7.0M | 75x | as long as short |
| Kraken Futures PF_SHIBUSD | +0.0100% | 1h | 0.000005969 | −0.005% | $1.2M | $1.0M | 50x | as long as short |
| Hyperliquid kSHIB | +0.0100% | 1h | 0.000005973 | +0.068% | $3.6M | $5.5M | 10x | as long as short |
Coinbase International 1000SHIB-PERP-INTX
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
BingX 1000SHIB-USDC
Deribit 1000SHIB_USDC-PERPETUAL
Lighter 1000SHIB
Gate SHIB_USDT
Kraken Futures PF_SHIBUSD
Hyperliquid kSHIBShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000005968 | −0.012% | $41K | $297K | 50x | as long as short |
| Pacifica kSHIB | +0.0100% | 1h | 0.000005971 | +0.035% | $12K | $6K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000005968 | −0.023% | $30.4M | $128.1M | 75x | as long as short |
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000005967 | −0.032% | $8.9M | $44.8M | 50x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000005963 | −0.099% | $28.5M | $20.0M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000005965 | −0.066% | $4.7M | $3.2M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000005970 | +0.018% | $11.3M | $17.2M | 75x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0100% | 1h | 0.000005977 | +0.135% | $23K | $8K | 15x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000005969 | +0.001% | $6K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000005980 | +0.186% | $2K | $27K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000005972 | +0.052% | $513 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000005981 | +0.202% | $413K | $567K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000005981 | +0.202% | $2.1M | $7.7M | 50x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0101% | 8h | 0.000005970 | +0.020% | $7K | $13 | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000005966 | −0.050% | $53K | $4K | 25x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0212% / S −0.2404% | 1h | 0.000005000 | −16.233% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000005974 | +0.085% | $850K | $929K | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000005967 | −0.035% | $1 | — | 20x | as long as short |
| dYdX SHIB-USDlong | +0.9983% | 1h | 0.000005969 | long leg | $23K | $82K | 10x |
Aster 1000SHIBUSDT
Pacifica kSHIB
Binance 1000SHIBUSDT
OKX SHIB-USDT-SWAP
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
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Reya kSHIBRUSDPERP