Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0094%/8hpaid last 24h +0.028%

Price spread now: OKX against gTrade (Gains Network)−0.279%7-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 OKX

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. OKX is 0.279% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.279% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$28 on $10k: about 9.9 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) SHIB/USD	0.000005914	L +0.0006% / S −0.0001%	pay 0.0001% / 1h	23m 38s	$719	—	150x
Short	OKX SHIB-USDT-SWAP	0.000005897	0.0100	get 0.0100% / 8h	4h 23m	$7.7M	$26.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.279%Rate

Funding earned: $19.68
Price spread: −0.279% → 0.000%: −$27.9
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$28.22
Costs to cover: 0.200%
Break-even: 17.0 days

Slippage unknown: gTrade (Gains Network): no order-book sample; OKX: 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 OKX live order book, 4 min ago	0.85 bp	8.8 bp −$9	23.6 bp −$236	doesn't fit	doesn't fit

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	0.000005915	+0.025%	$86K	$1.5M	2x	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	0.0000%	1h	0.000005915	+0.025%	$42K	$64K	25x	as long as short
gTrade (Gains Network) SHIB/USDlong	L +0.0006% / S −0.0001%	1h	0.000005914	long leg	$719	—	150x
Injective SHIB/USDC PERP	+0.0033%	1h	0.000005767	−2.477%	$236	$36K	5.5x	as long as short
BingX 1000SHIB-USDC	+0.0080%	8h	0.000005903	−0.178%	—	$1.6M	—	as long as short
Coinbase International 1000SHIB-PERP-INTX	+0.0088%	1h	0.000005916	+0.042%	$87K	$838K	50x	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000005904	−0.161%	$151K	$288K	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000005911	−0.043%	$37K	$160K	50x	as long as short
Pacifica kSHIB	+0.0100%	1h	0.000005904	−0.161%	$11K	$4K	10x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000005903	−0.178%	$28.9M	$84.7M	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-SWAPshort	+0.0100%	8h	0.000005897	−0.279%	$7.7M	$26.9M	50x
Gate SHIB_USDT	+0.0100%	8h	0.000005906	−0.127%	$6.7M	$5.4M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000005900	−0.228%	$32.7M	$14.9M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000005902	−0.194%	$4.8M	$2.4M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000005900	−0.228%	$11.4M	$12.1M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000005907	−0.110%	$27K	$4K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000005916	+0.042%	$6K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000005922	+0.144%	$2K	$23K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000005909	−0.076%	$566	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000005911	−0.042%	$399K	$636K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000005910	−0.059%	$2.1M	$5.1M	50x	as long as short
Paradex kSHIB-USD-PERP	+0.0100%	8h	0.000005907	−0.110%	$7K	—	20x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000005906	−0.125%	$52K	$4K	25x	as long as short
Kraken Futures PF_SHIBUSD	+0.0144%	1h	0.000005907	−0.116%	$1.1M	$718K	50x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0213% / S −0.2404%	1h	0.000005000	−15.448%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000005894	−0.330%	$726K	$1.0M	50x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000005911	−0.045%	$1	—	20x	as long as short
Hyperliquid kSHIB	+0.0546%	1h	0.000005916	+0.042%	$4.3M	$3.7M	10x	as long as short
dYdX SHIB-USD	+0.7084%	1h	0.000005904	−0.161%	$23K	$66K	10x	as long as short