Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0087%/8h= −9.5% APRpaid last 24h +0.017%

Price spread now: Aster against Injective+0.117%7-day average — · you sell dearer than you buy

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

Long on Injective Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 0.117% dearer against Injective than usual: you sell high and buy low (spread +0.117% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective SHIB/USDC PERP	0.000005964	0.0187	pay 0.0023% / 1h	10m 46s	$245	$67K	5.5x
Short	Aster 1000SHIBUSDT	0.000005971	0.0100	get 0.0100% / 8h	2h 10m	$35K	$179K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Injective. 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 InjectivebpFee AsterbpOrdersPrice spread, now +0.117%Rate

Funding earned: −$18.21
Price spread: +0.117% → 0.000%: $11.74
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Aster: 4 bp × 2 orders: −$8
Net: −$14.49
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Aster: live order book, 10 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 Injective no order-book sample	—	—	—	—	—
Sell Aster live order book, 10 min ago	5.85 bp	13.9 bp −$14	139.9 bp −$1,399	doesn't fit	doesn't fit

Injective: 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	0.000005968	+0.075%	$58K	$1.7M	2x	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	0.0000%	1h	0.000005971	+0.117%	$46K	$65K	25x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S −0.0001%	1h	0.000005974	+0.173%	$727	—	150x	as long as short
Coinbase International 1000SHIB-PERP-INTX	+0.0016%	1h	0.000005980	+0.268%	$89K	$758K	50x	as long as short
Kraken Futures PF_SHIBUSD	+0.0056%	1h	0.000005969	+0.082%	$1.1M	$764K	50x	as long as short
BingX 1000SHIB-USDC	+0.0080%	8h	0.000005970	+0.101%	—	$1.6M	—	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000005973	+0.151%	$152K	$286K	10x	as long as short
Aster 1000SHIBUSDTshort	+0.0100%	8h	0.000005971	+0.117%	$35K	$179K	50x
Pacifica kSHIB	+0.0100%	1h	0.000005975	+0.184%	$12K	$4K	10x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000005977	+0.217%	$29.0M	$88.6M	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	0.000005976	+0.201%	$7.6M	$28.1M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000005967	+0.050%	$6.8M	$5.4M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000005975	+0.184%	$31.7M	$15.8M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000005974	+0.168%	$4.9M	$2.3M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000005973	+0.151%	$11.6M	$12.4M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000005973	+0.151%	$25K	$5K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000005972	+0.134%	$6K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000005977	+0.218%	$2K	$23K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000005968	+0.067%	$542	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000005967	+0.050%	$403K	$615K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000005973	+0.151%	$2.1M	$5.5M	50x	as long as short
Paradex kSHIB-USD-PERP	+0.0100%	8h	0.000005983	+0.312%	$7K	—	20x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000005970	+0.093%	$53K	$4K	25x	as long as short
Injective SHIB/USDC PERPlong	+0.0187%	1h	0.000005964	long leg	$245	$67K	5.5x
GMX SHIB/USD [ETH-USDC]	L +0.0213% / S −0.2404%	1h	0.000005000	−16.164%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000005972	+0.134%	$711K	$964K	50x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000005973	+0.155%	$1	—	20x	as long as short
Hyperliquid kSHIB	+0.0679%	1h	0.000005982	+0.302%	$4.3M	$3.7M	10x	as long as short
dYdX SHIB-USD	+0.7495%	1h	0.000005970	+0.094%	$23K	$64K	10x	as long as short