Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0074%/8h= +8.1% APRpaid last 24h +0.008%

Price spread now: BingX against gTrade (Gains Network)−0.081%46s7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on BingX

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

Funding pays, the price is against you. BingX is 0.081% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.081% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 3.7 days of funding at the current rate (+$2 a day). The two prices were read 46 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	gTrade (Gains Network) SHIB/USD	0.000006023	L +0.0006% / S −0.0001%	pay 0.0001% / 1h	48m 28s	$733	—	150x
Short	BingX 1000SHIB-USDT	0.000006018	0.0080	get 0.0080% / 8h	7h 48m	—	$2.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BingXbpOrdersPrice spread, now −0.081%Rate

Funding earned: $15.48
Price spread: −0.081% → 0.000%: −$8.14
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$12.66
Costs to cover: 0.200%
Break-even: 12.7 days

Slippage unknown: gTrade (Gains Network): no order-book sample; BingX: live order book, 4 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell BingX live order book, 4 min ago	1.65 bp	8.6 bp −$9	16.0 bp −$160	59.4 bp −$5,943	132.3 bp −$66.1K

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
dYdX SHIB-USD	0.0000%	1h	0.000006020	−0.048%	$23K	$64K	10x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000006024	+0.018%	$94K	$2.0M	2x	as long as short
gTrade (Gains Network) SHIB/USDlong	L +0.0006% / S −0.0001%	1h	0.000006023	long leg	$733	—	150x
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	+0.284%	$248	$134K	5.5x	as long as short
Coinbase International 1000SHIB-PERP-INTX	+0.0064%	1h	0.000006040	+0.284%	$76K	$769K	50x	as long as short
BingX 1000SHIB-USDTshort	+0.0080%	8h	0.000006018	−0.081%	—	$2.1M	—
Deribit 1000SHIB_USDC-PERPETUAL	+0.0082%	1h	0.000006028	+0.085%	$46K	$65K	25x	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000006028	+0.085%	$181K	$380K	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000006023	+0.010%	$35K	$178K	50x	as long as short
Pacifica kSHIB	+0.0100%	1h	0.000006025	+0.035%	$12K	$4K	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000SHIBUSDT	+0.0100%	8h	0.000006020	−0.048%	$29.4M	$97.0M	75x	as long as short
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000006016	−0.115%	$8.6M	$33.0M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000006017	−0.098%	$6.9M	$5.5M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000006020	−0.048%	$31.2M	$16.7M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000006026	+0.051%	$4.9M	$2.6M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000006014	−0.148%	$11.5M	$13.5M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000006028	+0.085%	$25K	$6K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000006027	+0.068%	$7K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000006036	+0.218%	$2K	$24K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000006028	+0.085%	$550	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000006021	−0.032%	$411K	$594K	75x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000006019	−0.069%	$54K	$4K	25x	as long as short
Paradex kSHIB-USD-PERP	+0.0104%	8h	0.000006021	−0.040%	$7K	—	20x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0213% / S −0.2404%	1h	0.000006000	−0.380%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000006022	−0.015%	$798K	$940K	50x	as long as short
Kraken Futures PF_SHIBUSD	+0.0260%	1h	0.000006028	+0.079%	$1.1M	$813K	50x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000006015	−0.138%	$1	—	20x	as long as short
Phemex u1000SHIBUSDT	+0.0458%	8h	0.000006031	+0.134%	$2.1M	$6.1M	50x	as long as short
Hyperliquid kSHIB	+0.0597%	1h	0.000006034	+0.184%	$4.4M	$4.0M	10x	as long as short