Funding you earn now, next payment 05:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.029%
Price spread now: Kalshi against Lighter+0.239%7-day average −0.035% · you sell dearer than you buy
Net, funding: paid 7d − costs−$53as in the Funding arb table
Net, price: spread back to 7d avg − costs−$25as in the Price arb table
costs, in and out, $10k−$520.522% of the position
Funding, last 7 days−0.005%$0 on $10k
+Price spread, last 4 days (all we have)−0.297%−$30 · spread now +0.239%, 7d avg −0.035%
=Together, before fees−0.302%+ Points / potential airdropLighter: Season 3 · farm board−$30 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Kalshi is 0.275% dearer against Lighter than usual: you sell high and buy low (spread +0.239% now, against its 7-day average of −0.035%): +$27 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 9.5 days. At the pace of the last 7 days (−0.005% in total) that is about 14 months.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter 1000SHIB | 0.000006102 | 0.0096 | pay 0.0012% / 1h | 14m 47s | $160K | $627K | 10x |
| Short | Kalshi KXKSHIBPERP | 0.000006117 | 0 | get 0.0000% / 8h | 7h 14m | $190K | $2.9M | 2x |
Lighter 1000SHIB
Kalshi KXKSHIBPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kalshi 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
- −$20.16
- Price spread: +0.239% → −0.035%
- $27.48
- Slippage, 4 orders
- −$42.22
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Net
- −$44.91
- Costs to cover
- 0.522%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 21 min ago; Kalshi: live order book, 4 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, 21 min ago | 2.41 bp | 11.3 bp −$11 | 60.8 bp −$608 | doesn't fit | doesn't fit |
| Sell Kalshi live order book, 4 min ago | 8.73 bp | 13.7 bp −$14 | 19.9 bp −$199 | 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 | 0.000006131 | +0.475% | $123K | $1.5M | 50x | as long as short |
| Kraken Futures PF_SHIBUSD | −0.0064% | 1h | 0.000006106 | +0.073% | $1.2M | $1.0M | 50x | as long as short |
| dYdX SHIB-USD | 0.0000% | 1h | 0.000006100 | −0.033% | $23K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERPshort | 0.0000% | 8h | 0.000006117 | +0.239% | $190K | $2.9M | 2x | |
| Deribit 1000SHIB_USDC-PERPETUAL | 0.0000% | 1h | 0.000006108 | +0.098% | $50K | $61K | 25x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000006108 | +0.090% | $577 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | −1.016% | $248 | $134K | 5.5x | as long as short |
| BingX 1000SHIB-USDC | +0.0070% | 8h | 0.000006107 | +0.082% | — | $1.6M | — | as long as short |
| Lighter 1000SHIBlong | +0.0096% | 1h | 0.000006102 | long leg | $160K | $627K | 10x | |
| Hyperliquid kSHIB | +0.0100% | 1h | 0.000006119 | +0.279% | $3.6M | $5.2M | 10x | as long as short |
Coinbase International 1000SHIB-PERP-INTX
Kraken Futures PF_SHIBUSD
dYdX SHIB-USD
Deribit 1000SHIB_USDC-PERPETUAL
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
BingX 1000SHIB-USDC
Hyperliquid kSHIBShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006106 | +0.065% | $42K | $331K | 50x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006108 | +0.091% | $31.2M | $117.8M | 75x | as long as short |
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000006102 | 0.000% | $9.8M | $41.2M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006106 | +0.066% | $7.3M | $6.9M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006103 | +0.016% | $30.0M | $18.9M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006108 | +0.098% | $4.7M | $3.0M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006113 | +0.180% | $11.7M | $16.3M | 75x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0100% | 1h | 0.000006110 | +0.131% | $23K | $7K | 15x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006108 | +0.098% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006116 | +0.229% | $2K | $26K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006107 | +0.082% | $502 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006112 | +0.164% | $419K | $579K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000006110 | +0.131% | $2.1M | $7.2M | 50x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0101% | 8h | 0.000006102 | −0.008% | $7K | $13 | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006104 | +0.030% | $54K | $4K | 25x | as long as short |
| Pacifica kSHIB | +0.0188% | 1h | 0.000006106 | +0.066% | $12K | $5K | 10x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000006000 | −1.672% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006104 | +0.033% | $946K | $913K | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006110 | +0.131% | $1 | — | 20x | as long as short |
Aster 1000SHIBUSDT
Binance 1000SHIBUSDT
OKX SHIB-USDT-SWAP
Gate SHIB_USDT
MEXC SHIB_USDT
KuCoin SHIBUSDTM
Bitget SHIBUSDT
Backpack kSHIB_USDC_PERP
Orderly PERP_1000SHIB_USDC
SunX SHIB-USDT
SoDEX 1000SHIB-USD
HTX SHIB-USDT
Phemex u1000SHIBUSDT
Paradex kSHIB-USD-PERP
Extended 1000SHIB-USD
Pacifica kSHIB
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Reya kSHIBRUSDPERP