SHIB

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0468%/8h= +51.2% APRnext payment +$0.58 per $10,000 · paid last 24h −0.006%

Price spread now: Coinbase International against Kraken Futures+0.344%7-day average 0.000% · you sell dearer than you buy

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$650.647% of the position

Long on Kraken Futures Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.049%−$5 on $10k

Price spread, last 4 days (all we have)−0.384%−$38 · spread now +0.344%, 7d avg 0.000%

Together, before fees−0.433%−$43 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Coinbase International is 0.343% dearer against Kraken Futures than usual: you sell high and buy low: +$34 more if the spread goes back to its 7-day average of 0.000%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.049% in total (about -2.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.58 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SHIBUSD	0.000005980	−0.0596	get 0.0074% / 1h	45m 59s	$1.1M	$1.0M	50x
Short	Coinbase International 1000SHIB-PERP-INTX	0.000006001	−0.0128	pay 0.0016% / 1h	45m 59s	$117K	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.344%Rate

Funding earned: $98.22
Price spread: +0.344% → 0.000%: $34.34
Slippage, 4 orders: −$44.69
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $67.87
Costs to cover: 0.647%
Break-even: 2.2 days

Slippage from Kraken Futures: live order book, 2 min ago; Coinbase International: live order book, 3 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	3.34 bp	16.0 bp −$16	28.3 bp −$283	doesn't fit	doesn't fit
Sell Coinbase International live order book, 3 min ago	10.02 bp	15.0 bp −$15	19.2 bp −$192	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
Kraken Futures PF_SHIBUSDlong	−0.0596%	1h	0.000005980	long leg	$1.1M	$1.0M	50x
Coinbase International 1000SHIB-PERP-INTXshort	−0.0128%	1h	0.000006001	+0.344%	$117K	$1.5M	50x
dYdX SHIB-USD	0.0000%	1h	0.000005987	+0.108%	$23K	$56K	10x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000005989	+0.141%	$111K	$3.2M	2x	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	0.0000%	1h	0.000005985	+0.076%	$46K	$65K	25x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S 0.0000%	1h	0.000005985	+0.073%	$565	—	150x	as long as short
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	+0.996%	$248	$134K	5.5x	as long as short
BingX 1000SHIB-USDT	+0.0070%	8h	0.000005986	+0.093%	—	$2.3M	—	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000005987	+0.110%	$157K	$631K	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000005989	+0.148%	$41K	$336K	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kSHIB	+0.0100%	1h	0.000005992	+0.193%	$12K	$5K	10x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000005990	+0.160%	$30.3M	$122.2M	75x	as long as short
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000005989	+0.143%	$9.5M	$41.5M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000005986	+0.093%	$7.1M	$7.1M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000005987	+0.110%	$28.7M	$19.1M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000005987	+0.110%	$4.6M	$3.1M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000005988	+0.126%	$11.3M	$16.9M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000005989	+0.143%	$23K	$7K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000005982	+0.026%	$6K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000006002	+0.361%	$2K	$26K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000005985	+0.076%	$502	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000005992	+0.193%	$408K	$581K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000005990	+0.160%	$2.1M	$7.3M	50x	as long as short
Paradex kSHIB-USD-PERP	+0.0101%	8h	0.000005991	+0.169%	$7K	$13	20x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000005986	+0.096%	$53K	$4K	25x	as long as short
Hyperliquid kSHIB	+0.0148%	1h	0.000005994	+0.227%	$3.6M	$5.3M	10x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0213% / S −0.2404%	1h	0.000005000	−16.394%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000005984	+0.060%	$908K	$916K	50x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000005984	+0.060%	$1	—	20x	as long as short