Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.745%

Price spread now: dYdX against MEXC0.000%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on MEXC Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+1.434%+$143 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +1.434%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SHIB_USDT	0.000005956	0.0100	pay 0.0100% / 8h	2h 26m	$28.3M	$19.2M	300x
Short	dYdX SHIB-USD	0.000005956	0	get 0.0000% / 1h	26m 30s	$23K	$56K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against MEXC. 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 MEXCbpFee dYdXbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$21
Price spread: 0.000% → 0.000%: −$0.02
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$31.02
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 2 min ago; dYdX: 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 MEXC live order book, 2 min ago	0.84 bp	4.5 bp −$5	10.8 bp −$108	56.7 bp −$5,668	86.9 bp −$43.5K
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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
Kraken Futures PF_SHIBUSD	−0.0599%	1h	0.000005951	−0.085%	$1.1M	$1.1M	50x	as long as short
Coinbase International 1000SHIB-PERP-INTX	−0.0128%	1h	0.000005960	+0.067%	$117K	$1.5M	50x	as long as short
dYdX SHIB-USDshort	0.0000%	1h	0.000005956	0.000%	$23K	$56K	10x
Kalshi KXKSHIBPERP	0.0000%	8h	0.000005954	−0.027%	$109K	$3.2M	2x	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	0.0000%	1h	0.000005951	−0.084%	$46K	$65K	25x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S 0.0000%	1h	0.000005950	−0.094%	$562	—	150x	as long as short
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	+1.410%	$248	$134K	5.5x	as long as short
BingX 1000SHIB-USDC	+0.0070%	8h	0.000005954	−0.034%	—	$1.6M	—	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000005958	+0.034%	$156K	$635K	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000005957	+0.017%	$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	0.000005958	+0.034%	$12K	$5K	10x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000005956	−0.001%	$30.0M	$123.4M	75x	as long as short
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000005951	−0.084%	$9.4M	$41.7M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000005952	−0.067%	$7.0M	$7.3M	75x	as long as short
MEXC SHIB_USDTlong	+0.0100%	8h	0.000005956	long leg	$28.3M	$19.2M	300x
KuCoin SHIBUSDTM	+0.0100%	8h	0.000005956	0.000%	$4.6M	$3.2M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000005951	−0.084%	$11.2M	$17.1M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000005951	−0.084%	$23K	$7K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000005949	−0.118%	$6K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000005963	+0.118%	$2K	$27K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000005951	−0.084%	$498	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000005951	−0.084%	$406K	$590K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000005954	−0.034%	$2.0M	$7.4M	50x	as long as short
Paradex kSHIB-USD-PERP	+0.0101%	8h	0.000005955	−0.016%	$7K	$13	20x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000005952	−0.062%	$53K	$4K	25x	as long as short
Hyperliquid kSHIB	+0.0158%	1h	0.000005959	+0.050%	$3.6M	$5.3M	10x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0213% / S −0.2404%	1h	0.000005000	−16.051%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000005950	−0.101%	$891K	$914K	50x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000005951	−0.078%	$1	—	20x	as long as short