Funding you earn now, next payment 04:00 UTC−0.0264%/8h= −28.9% APRnext payment −$0.33 per $10,000 · paid last 24h −0.027%
Price spread now: Coinbase International against Lighter0.000%7-day average −0.015% · you sell dearer than you buy
Net, funding: paid 7d − costs−$49as in the Funding arb table
Net, price: spread back to 7d avg − costs−$48as in the Price arb table
costs, in and out, $10k−$490.491% of the position
Funding, last 7 days−0.003%$0 on $10k
+Price spread, last 4 days (all we have)−0.073%−$7 · spread now 0.000%, 7d avg −0.015%
=Together, before fees−0.076%+ Points / potential airdropLighter: Season 3 · farm board−$8 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.015%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.003% in total (about -0.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.33 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 | Lighter 1000SHIB | 0.000006218 | 0.0096 | pay 0.0012% / 1h | 46m 40s | $165K | $619K | 10x |
| Short | Coinbase International 1000SHIB-PERP-INTX | 0.000006218 | −0.0168 | pay 0.0021% / 1h | 46m 40s | $123K | $1.3M | 50x |
Lighter 1000SHIB
Coinbase International 1000SHIB-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Lighter. 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
- −$55.44
- Price spread: 0.000% → −0.015%
- $1.53
- Slippage, 4 orders
- −$39.11
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$103.02
- Costs to cover
- 0.491%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 54 min ago; Coinbase International: live order book, 2 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 Lighter live order book, 54 min ago | 1.68 bp | 7.9 bp −$8 | 64.3 bp −$643 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 2 min ago | 9.65 bp | 14.6 bp −$15 | 18.8 bp −$188 | 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-INTXshort | −0.0168% | 1h | 0.000006218 | 0.000% | $123K | $1.3M | 50x | |
| Kraken Futures PF_SHIBUSD | −0.0063% | 1h | 0.000006205 | −0.206% | $1.2M | $973K | 50x | as long as short |
| dYdX SHIB-USD | 0.0000% | 1h | 0.000006220 | +0.032% | $24K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000006229 | +0.185% | $273K | $2.7M | 2x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | 0.0000% | 1h | 0.000006213 | −0.080% | $48K | $58K | 25x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000006217 | −0.010% | $587 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | −2.863% | $248 | $134K | 5.5x | as long as short |
| BingX 1000SHIB-USDT | +0.0080% | 8h | 0.000006206 | −0.193% | — | $2.2M | — | as long as short |
| Lighter 1000SHIBlong | +0.0096% | 1h | 0.000006218 | long leg | $165K | $619K | 10x | |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006223 | +0.082% | $42K | $322K | 50x | as long as short |
Kraken Futures PF_SHIBUSD
dYdX SHIB-USD
Kalshi KXKSHIBPERP
Deribit 1000SHIB_USDC-PERPETUAL
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
BingX 1000SHIB-USDT
Aster 1000SHIBUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006214 | −0.069% | $31.9M | $112.5M | 75x | as long as short |
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000006216 | −0.032% | $10.0M | $40.1M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006211 | −0.113% | $7.3M | $6.3M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006210 | −0.129% | $31.4M | $18.6M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006219 | +0.016% | $4.8M | $2.9M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006209 | −0.145% | $11.8M | $15.4M | 75x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006214 | −0.064% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006223 | +0.080% | $3K | $25K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006213 | −0.080% | $500 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006231 | +0.209% | $428K | $574K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000006210 | −0.129% | $2.1M | $7.0M | 50x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006209 | −0.145% | $55K | $4K | 25x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0122% | 8h | 0.000006220 | +0.028% | $7K | $13 | 20x | as long as short |
| Hyperliquid kSHIB | +0.0134% | 1h | 0.000006227 | +0.145% | $3.7M | $5.0M | 10x | as long as short |
| Pacifica kSHIB | +0.0188% | 1h | 0.000006219 | +0.016% | $12K | $5K | 10x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0214% / S −0.2404% | 1h | 0.000006000 | −3.506% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006210 | −0.129% | $889K | $923K | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006217 | −0.008% | $1 | — | 20x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0388% | 1h | 0.000006212 | −0.096% | $24K | $7K | 15x | as long as short |
Binance 1000SHIBUSDT
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
Phemex u1000SHIBUSDT
Extended 1000SHIB-USD
Paradex kSHIB-USD-PERP
Hyperliquid kSHIB
Pacifica kSHIB
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Reya kSHIBRUSDPERP
Backpack kSHIB_USDC_PERP