Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.2304%/8h= +252.2% APRpaid last 24h +0.631%

Price spread now: GMX against MEXC−1.023%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 GMX

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. GMX is 1.023% cheaper against MEXC than usual: you would sell low and buy high (spread −1.023% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$102 on $10k: about 36 hours of funding at the current rate (+$69 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SHIB_USDT	0.000006062	0.0100	pay 0.0100% / 8h	4h 12m	$30.3M	$17.8M	300x
Short	GMX SHIB/USD [ETH-USDC]	0.000006000	L +0.0213% / S −0.2404%	get 0.0300% / 1h	12m 25s	$1K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −1.023%Rate

Funding earned: $483.74
Price spread: −1.023% → 0.000%: −$102.28
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: $369.47
Costs to cover: 0.120%
Break-even: 1.7 days

Slippage unknown: MEXC: live order book, 1 min ago; GMX: 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, 1 min ago	0.83 bp	3.8 bp −$4	8.8 bp −$88	44.9 bp −$4,494	79.9 bp −$39.9K
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	−0.0348%	1h	0.000006053	−0.156%	$1.1M	$936K	50x	as long as short
Coinbase International 1000SHIB-PERP-INTX	−0.0088%	1h	0.000006016	−0.759%	$125K	$1.1M	50x	as long as short
dYdX SHIB-USD	0.0000%	1h	0.000006051	−0.184%	$23K	$64K	10x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000006037	−0.414%	$190K	$2.3M	2x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S 0.0000%	1h	0.000006062	+0.003%	$572	—	150x	as long as short
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	−0.363%	$248	$134K	5.5x	as long as short
BingX 1000SHIB-USDT	+0.0080%	8h	0.000006063	+0.016%	—	$2.1M	—	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000006057	−0.082%	$161K	$608K	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000006059	−0.043%	$41K	$321K	50x	as long as short
Pacifica kSHIB	+0.0100%	1h	0.000006053	−0.148%	$12K	$5K	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000SHIBUSDT	+0.0100%	8h	0.000006066	+0.066%	$29.9M	$105.2M	75x	as long as short
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000006064	+0.033%	$9.5M	$37.2M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000006061	−0.016%	$7.0M	$6.0M	75x	as long as short
MEXC SHIB_USDTlong	+0.0100%	8h	0.000006062	long leg	$30.3M	$17.8M	300x
KuCoin SHIBUSDTM	+0.0100%	8h	0.000006057	−0.082%	$4.8M	$2.7M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000006062	0.000%	$11.6M	$14.6M	75x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000006066	+0.066%	$7K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000006060	−0.033%	$2K	$24K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000006052	−0.165%	$478	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000006050	−0.198%	$413K	$555K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000006050	−0.198%	$2.1M	$6.9M	50x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000006060	−0.032%	$54K	$4K	25x	as long as short
Paradex kSHIB-USD-PERP	+0.0118%	8h	0.000006063	+0.012%	$7K	$13	20x	as long as short
Backpack kSHIB_USDC_PERP	+0.0124%	1h	0.000006056	−0.099%	$23K	$7K	15x	as long as short
Hyperliquid kSHIB	+0.0132%	1h	0.000006071	+0.148%	$3.6M	$4.8M	10x	as long as short
GMX SHIB/USD [ETH-USDC]short	L +0.0213% / S −0.2404%	1h	0.000006000	−1.023%	$1K	—	100x
BloFin SHIB-USDT	+0.0220%	8h	0.000006048	−0.231%	$890K	$897K	50x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000006063	+0.020%	$1	—	20x	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	+0.0410%	1h	0.000006067	+0.082%	$46K	$58K	25x	as long as short