Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0101%/8h= −11.0% APRpaid last 24h +0.029%

Price spread now: Aster against Kraken Futures−0.148%7-day average +0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$660.660% of the position

Long on Kraken Futures Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.135%+$13 on $10k

Price spread, last 4 days (all we have)+0.158%+$16 · spread now −0.148%, 7d avg +0.026%

Together, before fees+0.293%+ Points / potential airdropAster: Stage 5 · farm board+$29 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Aster is 0.174% cheaper against Kraken Futures than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of +0.026%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.135%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SHIBUSD	0.000005973	0.0201	pay 0.0025% / 1h	11m 32s	$1.2M	$1.0M	50x
Short	Aster 1000SHIBUSDT	0.000005964	0.0100	get 0.0100% / 8h	11m 32s	$41K	$301K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Kraken Futures. 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 Kraken FuturesbpFee AsterbpOrdersPrice spread, now −0.148%Rate

Funding earned: −$21.17
Price spread: −0.148% → +0.026%: −$17.41
Slippage, 4 orders: −$48.02
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$104.6
Costs to cover: 0.660%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; Aster: live order book, 25 min ago.

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 Kraken Futures live order book, 2 min ago	3.35 bp	11.6 bp −$12	25.9 bp −$259	doesn't fit	doesn't fit
Sell Aster live order book, 25 min ago	4.16 bp	25.5 bp −$25	101.0 bp −$1,010	doesn't fit	doesn't fit

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	0.000005961	−0.196%	$116K	$1.6M	50x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000005979	+0.097%	$126K	$3.2M	2x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S 0.0000%	1h	0.000005974	+0.017%	$564	—	150x	as long as short
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	+1.127%	$248	$134K	5.5x	as long as short
BingX 1000SHIB-USDT	+0.0070%	8h	0.000005958	−0.246%	—	$2.3M	—	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000005963	−0.162%	$155K	$644K	10x	as long as short
Aster 1000SHIBUSDTshort	+0.0100%	8h	0.000005964	−0.148%	$41K	$301K	50x
Pacifica kSHIB	+0.0100%	1h	0.000005960	−0.212%	$12K	$6K	10x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000005961	−0.189%	$30.3M	$128.2M	75x	as long as short
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000005952	−0.346%	$8.8M	$44.0M	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate SHIB_USDT	+0.0100%	8h	0.000005957	−0.263%	$7.0M	$7.3M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000005958	−0.246%	$28.6M	$20.2M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000005959	−0.229%	$4.7M	$3.2M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000005959	−0.229%	$11.3M	$17.2M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000005975	+0.039%	$23K	$8K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000005977	+0.072%	$6K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000005991	+0.307%	$2K	$27K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000005975	+0.039%	$511	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000005974	+0.022%	$407K	$576K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000005980	+0.122%	$2.1M	$7.7M	50x	as long as short
Paradex kSHIB-USD-PERP	+0.0103%	8h	0.000005959	−0.224%	$7K	$13	20x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000005957	−0.270%	$53K	$4K	25x	as long as short
Kraken Futures PF_SHIBUSDlong	+0.0201%	1h	0.000005973	long leg	$1.2M	$1.0M	50x
GMX SHIB/USD [ETH-USDC]	L +0.0212% / S −0.2404%	1h	0.000005000	−16.286%	$1K	—	100x	as long as short
Hyperliquid kSHIB	+0.0220%	1h	0.000005971	−0.028%	$3.6M	$5.5M	10x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000005973	+0.005%	$844K	$932K	50x	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	+0.0252%	1h	0.000005976	+0.055%	$50K	$59K	25x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000005978	+0.092%	$1	—	20x	as long as short
dYdX SHIB-USD	+0.5542%	1h	0.000005959	−0.225%	$35K	$70K	10x	as long as short