Funding you earn now, next payment 02:00 UTC−0.0667%/8h= −73.0% APRpaid last 24h +0.040%
Price spread now: Orderly against Kraken Futures−0.099%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 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
Both sides work against this trade now: funding costs −$20 a day on $10k at the current rate, and Orderly is 0.099% cheaper against Kraken Futures than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_SHIBUSD | 0.000005942 | 0.0767 | pay 0.0096% / 1h | 40m 10s | $1.1M | $851K | 50x |
| Short | Orderly PERP_1000SHIB_USDC | 0.000005936 | 0.0100 | get 0.0100% / 8h | 6h 40m | $6K | $4K | 20x |
Kraken Futures PF_SHIBUSD
Orderly PERP_1000SHIB_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$139.97
- Price spread: −0.099% → 0.000%
- −$9.95
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$165.92
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Kraken Futures: live order book, 3 min ago; Orderly: 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 Kraken Futures live order book, 3 min ago | 5.02 bp | 10.0 bp −$10 | 24.7 bp −$247 | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX SHIB-USD | 0.0000% | 1h | 0.000005925 | −0.283% | $23K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000005931 | −0.190% | $187K | $2.3M | 2x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S −0.0001% | 1h | 0.000005926 | −0.264% | $720 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | +1.651% | $248 | $134K | 5.5x | as long as short |
| Coinbase International 1000SHIB-PERP-INTX | +0.0072% | 1h | 0.000005938 | −0.066% | $154K | $974K | 50x | as long as short |
| BingX 1000SHIB-USDT | +0.0080% | 8h | 0.000005927 | −0.251% | — | $2.1M | — | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | +0.0087% | 1h | 0.000005937 | −0.083% | $45K | $65K | 25x | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000005945 | +0.052% | $161K | $608K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000005923 | −0.315% | $38K | $183K | 50x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000005946 | +0.064% | $29.1M | $101.6M | 75x | as long as short |
dYdX SHIB-USD
Kalshi KXKSHIBPERP
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
Coinbase International 1000SHIB-PERP-INTX
BingX 1000SHIB-USDT
Deribit 1000SHIB_USDC-PERPETUAL
Lighter 1000SHIB
Aster 1000SHIBUSDT
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 | 0.000005938 | −0.066% | $8.9M | $35.2M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000005923 | −0.318% | $6.8M | $5.7M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000005945 | +0.052% | $30.6M | $17.4M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000005938 | −0.066% | $4.9M | $2.7M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000005941 | −0.015% | $11.2M | $14.3M | 75x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0100% | 1h | 0.000005940 | −0.032% | $23K | $7K | 15x | as long as short |
| Orderly PERP_1000SHIB_USDCshort | +0.0100% | 8h | 0.000005936 | −0.099% | $6K | $4K | 20x | |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000005948 | +0.102% | $2K | $24K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000005939 | −0.049% | $523 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000005940 | −0.032% | $407K | $606K | 75x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000005936 | −0.094% | $53K | $4K | 25x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0125% | 8h | 0.000005930 | −0.196% | $7K | $13 | 20x | as long as short |
| Phemex u1000SHIBUSDT | +0.0129% | 8h | 0.000005950 | +0.136% | $2.1M | $6.6M | 50x | as long as short |
| Pacifica kSHIB | +0.0183% | 1h | 0.000005928 | −0.234% | $12K | $4K | 10x | as long as short |
| Hyperliquid kSHIB | +0.0205% | 1h | 0.000005923 | −0.318% | $3.6M | $4.7M | 10x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000005000 | −15.852% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006010 | +1.146% | $871K | $935K | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000005921 | −0.350% | $1 | — | 20x | as long as short |
| Kraken Futures PF_SHIBUSDlong | +0.0767% | 1h | 0.000005942 | long leg | $1.1M | $851K | 50x |
OKX SHIB-USDT-SWAP
Gate SHIB_USDT
MEXC SHIB_USDT
KuCoin SHIBUSDTM
Bitget SHIBUSDT
Backpack kSHIB_USDC_PERP
SunX SHIB-USDT
SoDEX 1000SHIB-USD
HTX SHIB-USDT
Extended 1000SHIB-USD
Paradex kSHIB-USD-PERP
Phemex u1000SHIBUSDT
Pacifica kSHIB
Hyperliquid kSHIB
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Reya kSHIBRUSDPERP