Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0112%/8h= −12.3% APRpaid last 24h −0.031%

Price spread now: HTX against GMX+19.040%7-day average — · you sell dearer than you buy

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

Long on GMX Short on HTX

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. HTX is 19.040% dearer against GMX than usual: you sell high and buy low (spread +19.040% now, against zero (this spread has no 7-day history yet)): +$1,904 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	8m 57s	$1K	—	100x
Short	HTX SHIB-USDT	0.000005952	0.0100	get 0.0100% / 8h	8m 57s	$405K	$577K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against GMX. 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 GMXbpFee HTXbpOrdersPrice spread, now +19.040%Rate

Funding earned: −$23.55
Price spread: +19.040% → 0.000%: $1,904
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: $1,856.45
Costs to cover: 0.240%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; HTX: live order book, 30 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 GMX no order-book sample	—	—	—	—	—
Sell HTX live order book, 30 min ago	0.83 bp	32.1 bp −$32	111.2 bp −$1,112	doesn't fit	doesn't fit

GMX: 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	0.000005959	+19.180%	$119K	$1.6M	50x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000005949	+18.972%	$126K	$3.2M	2x	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	0.0000%	1h	0.000005948	+18.960%	$50K	$59K	25x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S 0.0000%	1h	0.000005949	+18.976%	$561	—	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	0.000005951	+19.020%	—	$2.3M	—	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000005953	+19.060%	$155K	$644K	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000005953	+19.069%	$40K	$301K	50x	as long as short
Pacifica kSHIB	+0.0100%	1h	0.000005950	+19.000%	$12K	$6K	10x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000005955	+19.108%	$30.3M	$128.4M	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	0.000005951	+19.020%	$8.7M	$44.4M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000005949	+18.980%	$7.0M	$7.4M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000005948	+18.960%	$28.6M	$20.3M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000005950	+19.000%	$4.7M	$3.2M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000005951	+19.020%	$11.3M	$17.3M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000005950	+19.000%	$23K	$8K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000005951	+19.020%	$6K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000005963	+19.260%	$2K	$27K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000005946	+18.920%	$508	$5K	10x	as long as short
HTX SHIB-USDTshort	+0.0100%	8h	0.000005952	+19.040%	$405K	$577K	75x
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000005955	+19.100%	$2.1M	$7.7M	50x	as long as short
Paradex kSHIB-USD-PERP	+0.0103%	8h	0.000005955	+19.090%	$7K	$13	20x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000005950	+19.003%	$53K	$4K	25x	as long as short
Kraken Futures PF_SHIBUSD	+0.0202%	1h	0.000005945	+18.907%	$1.2M	$1.0M	50x	as long as short
Hyperliquid kSHIB	+0.0204%	1h	0.000005955	+19.100%	$3.6M	$5.5M	10x	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	0.000005944	+18.880%	$842K	$927K	50x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000005948	+18.960%	$1	—	20x	as long as short
dYdX SHIB-USD	+0.5731%	1h	0.000005949	+18.985%	$35K	$70K	10x	as long as short