Funding you earn now, next payment 08:00 UTC−0.0112%/8h= −12.3% APRnext payment −$0.14 per $10,000 · paid last 24h −0.031%
Price spread now: Backpack against GMX+19.620%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
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. Backpack is 19.620% dearer against GMX than usual: you sell high and buy low (spread +19.620% now, against zero (this spread has no 7-day history yet)): +$1,962 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 19 months.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX SHIB/USD [ETH-USDC] | 0.000005000 | L +0.0212% / S −0.2404% | pay 0.0027% / 1h | 22m 01s | $1K | — | 100x |
| Short | Backpack kSHIB_USDC_PERP | 0.000005981 | 0.0100 | get 0.0013% / 1h | 22m 01s | $23K | $8K | 15x |
GMX SHIB/USD [ETH-USDC]
Backpack kSHIB_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against GMX. 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
- −$23.58
- Price spread: +19.620% → 0.000%
- $1,962
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $1,916.42
- Costs to cover
- 0.220%
- Break-even
- from the start
Slippage unknown: GMX: no order-book sample; Backpack: 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 GMX no order-book sample | — | — | — | — | — |
| Sell Backpack no order-book sample | — | — | — | — | — |
GMX and Backpack: 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 | −0.0016% | 1h | 0.000006005 | +20.100% | $117K | $1.6M | 50x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000005997 | +19.930% | $119K | $3.2M | 2x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000005988 | +19.768% | $565 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | +20.800% | $248 | $134K | 5.5x | as long as short |
| BingX 1000SHIB-USDT | +0.0070% | 8h | 0.000005981 | +19.620% | — | $2.3M | — | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | +0.0084% | 1h | 0.000005989 | +19.780% | $50K | $59K | 25x | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000005990 | +19.800% | $156K | $642K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000005983 | +19.669% | $41K | $305K | 50x | as long as short |
| Pacifica kSHIB | +0.0100% | 1h | 0.000006000 | +20.000% | $12K | $6K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000005983 | +19.657% | $30.3M | $127.8M | 75x | as long as short |
Coinbase International 1000SHIB-PERP-INTX
Kalshi KXKSHIBPERP
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
BingX 1000SHIB-USDT
Deribit 1000SHIB_USDC-PERPETUAL
Lighter 1000SHIB
Aster 1000SHIBUSDT
Pacifica kSHIB
Binance 1000SHIBUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000005969 | +19.380% | $8.9M | $43.5M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000005982 | +19.640% | $7.0M | $7.3M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000005977 | +19.540% | $28.7M | $20.2M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000005987 | +19.740% | $4.7M | $3.2M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000005980 | +19.600% | $11.3M | $17.2M | 75x | as long as short |
| Backpack kSHIB_USDC_PERPshort | +0.0100% | 1h | 0.000005981 | +19.620% | $23K | $8K | 15x | |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000005991 | +19.820% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006000 | +20.000% | $2K | $27K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000005988 | +19.760% | $513 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000005992 | +19.840% | $408K | $576K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000005992 | +19.840% | $2.1M | $7.7M | 50x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0103% | 8h | 0.000005998 | +19.956% | $7K | $13 | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000005977 | +19.533% | $53K | $4K | 25x | as long as short |
| Kraken Futures PF_SHIBUSD | +0.0200% | 1h | 0.000005989 | +19.785% | $1.2M | $1.0M | 50x | as long as short |
| GMX SHIB/USD [ETH-USDC]long | L +0.0212% / S −0.2404% | 1h | 0.000005000 | long leg | $1K | — | 100x | |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000005982 | +19.640% | $868K | $933K | 50x | as long as short |
| Hyperliquid kSHIB | +0.0259% | 1h | 0.000005986 | +19.720% | $3.6M | $5.5M | 10x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000005990 | +19.801% | $1 | — | 20x | as long as short |
| dYdX SHIB-USD | +0.3982% | 1h | 0.000005997 | +19.937% | $35K | $70K | 10x | as long as short |
OKX SHIB-USDT-SWAP
Gate SHIB_USDT
MEXC SHIB_USDT
KuCoin SHIBUSDTM
Bitget SHIBUSDT
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
BloFin SHIB-USDT
Hyperliquid kSHIB
Reya kSHIBRUSDPERP
dYdX SHIB-USD