Funding you earn now, next payment 05:00 UTC+0.0163%/8h= +17.8% APRpaid last 24h +0.025%
Price spread now: Phemex against Kraken Futures+0.064%7-day average +0.039% · you sell dearer than you buy
Net, funding: paid 7d − costs−$100as in the Funding arb table
Net, price: spread back to 7d avg − costs−$107as in the Price arb table
costs, in and out, $10k−$1101.095% of the position
Funding, last 7 days+0.094%+$9 on $10k
+Price spread, last 4 days (all we have)+0.005%$0 · spread now +0.064%, 7d avg +0.039%
=Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Phemex is 0.025% dearer against Kraken Futures than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.039%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_SHIBUSD | 0.000006226 | −0.0063 | get 0.0008% / 1h | 44m 12s | $1.2M | $978K | 50x |
| Short | Phemex u1000SHIBUSDT | 0.000006230 | 0.0100 | get 0.0100% / 8h | 3h 44m | $2.1M | $7.1M | 50x |
Kraken Futures PF_SHIBUSD
Phemex u1000SHIBUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- $34.22
- Price spread: +0.064% → +0.039%
- $2.54
- Slippage, 4 orders
- −$87.51
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$72.76
- Costs to cover
- 1.095%
- Break-even
- 21.9 days
Slippage from Kraken Futures: live order book, 4 min ago; Phemex: live order book, 5 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, 4 min ago | 4.81 bp | 14.4 bp −$14 | 22.7 bp −$227 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 5 min ago | 19.23 bp | 27.0 bp −$27 | 61.9 bp −$619 | 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 | −0.0168% | 1h | 0.000006217 | −0.145% | $123K | $1.3M | 50x | as long as short |
| Kraken Futures PF_SHIBUSDlong | −0.0063% | 1h | 0.000006226 | long leg | $1.2M | $978K | 50x | |
| dYdX SHIB-USD | 0.0000% | 1h | 0.000006215 | −0.179% | $24K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000006227 | +0.014% | $273K | $2.7M | 2x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000006230 | +0.059% | $588 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | −2.988% | $248 | $134K | 5.5x | as long as short |
| BingX 1000SHIB-USDT | +0.0080% | 8h | 0.000006229 | +0.048% | — | $2.2M | — | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006233 | +0.112% | $164K | $621K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006232 | +0.091% | $42K | $322K | 50x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006229 | +0.053% | $32.0M | $113.1M | 75x | as long as short |
Coinbase International 1000SHIB-PERP-INTX
dYdX SHIB-USD
Kalshi KXKSHIBPERP
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
BingX 1000SHIB-USDT
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 | 0.000006235 | +0.144% | $10.1M | $40.4M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006230 | +0.064% | $7.4M | $6.3M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006231 | +0.080% | $31.5M | $18.6M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006231 | +0.080% | $4.9M | $3.0M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006232 | +0.096% | $11.9M | $15.4M | 75x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006232 | +0.096% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006244 | +0.289% | $3K | $25K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006232 | +0.096% | $511 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006226 | 0.000% | $429K | $574K | 75x | as long as short |
| Phemex u1000SHIBUSDTshort | +0.0100% | 8h | 0.000006230 | +0.064% | $2.1M | $7.1M | 50x | |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006230 | +0.056% | $55K | $4K | 25x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0122% | 8h | 0.000006226 | +0.007% | $7K | $13 | 20x | as long as short |
| Hyperliquid kSHIB | +0.0143% | 1h | 0.000006235 | +0.144% | $3.7M | $5.0M | 10x | as long as short |
| Pacifica kSHIB | +0.0188% | 1h | 0.000006214 | −0.193% | $12K | $5K | 10x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0214% / S −0.2404% | 1h | 0.000006000 | −3.630% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006230 | +0.064% | $892K | $926K | 50x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | +0.0232% | 1h | 0.000006233 | +0.112% | $48K | $58K | 25x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006227 | +0.016% | $1 | — | 20x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0335% | 1h | 0.000006234 | +0.128% | $24K | $7K | 15x | as long as short |
OKX SHIB-USDT-SWAP
Gate SHIB_USDT
MEXC SHIB_USDT
KuCoin SHIBUSDTM
Bitget SHIBUSDT
Orderly PERP_1000SHIB_USDC
SunX SHIB-USDT
SoDEX 1000SHIB-USD
HTX SHIB-USDT
Extended 1000SHIB-USD
Paradex kSHIB-USD-PERP
Hyperliquid kSHIB
Pacifica kSHIB
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Deribit 1000SHIB_USDC-PERPETUAL
Reya kSHIBRUSDPERP
Backpack kSHIB_USDC_PERP