Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.827%

Price spread now: dYdX against OKX−0.001%7-day average — · you buy dearer than you sell

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

Long on OKX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+1.436%+$144 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 +1.436%, 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	OKX SHIB-USDT-SWAP	0.000005999	0.0100	pay 0.0100% / 8h	6h 16m	$9.3M	$36.1M	50x
Short	dYdX SHIB-USD	0.000005999	0	get 0.0000% / 1h	16m 09s	$23K	$64K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against OKX. 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 OKXbpFee dYdXbpOrdersPrice spread, now −0.001%Rate

Funding earned: −$21
Price spread: −0.001% → 0.000%: −$0.13
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$41.13
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: OKX: 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 OKX live order book, 2 min ago	0.83 bp	8.6 bp −$9	21.8 bp −$218	doesn't fit	doesn't fit
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 28 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
dYdX SHIB-USDshort	0.0000%	1h	0.000005999	−0.001%	$23K	$64K	10x
Kalshi KXKSHIBPERP	0.0000%	8h	0.000006004	+0.075%	$191K	$2.3M	2x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S −0.0001%	1h	0.000006000	+0.013%	$730	—	150x	as long as short
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	+0.683%	$248	$134K	5.5x	as long as short
Coinbase International 1000SHIB-PERP-INTX	+0.0072%	1h	0.000006027	+0.467%	$136K	$1.1M	50x	as long as short
BingX 1000SHIB-USDC	+0.0080%	8h	0.000005999	0.000%	—	$1.6M	—	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	+0.0083%	1h	0.000006002	+0.050%	$46K	$64K	25x	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000006002	+0.050%	$162K	$610K	10x	as long as short
Hyperliquid kSHIB	+0.0100%	1h	0.000006009	+0.167%	$3.6M	$4.7M	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000006003	+0.067%	$93K	$246K	50x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000SHIBUSDT	+0.0100%	8h	0.000006001	+0.033%	$29.4M	$102.1M	75x	as long as short
OKX SHIB-USDT-SWAPlong	+0.0100%	8h	0.000005999	long leg	$9.3M	$36.1M	50x
Gate SHIB_USDT	+0.0100%	8h	0.000005999	0.000%	$6.9M	$5.7M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000006001	+0.033%	$30.2M	$17.5M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000006000	+0.017%	$4.9M	$2.7M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000006001	+0.033%	$11.3M	$14.3M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000005999	0.000%	$23K	$7K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000006001	+0.033%	$7K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000006015	+0.267%	$2K	$24K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000006000	+0.017%	$515	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000005998	−0.017%	$411K	$595K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000006000	+0.017%	$2.1M	$6.6M	50x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000005997	−0.028%	$53K	$4K	25x	as long as short
Paradex kSHIB-USD-PERP	+0.0116%	8h	0.000005997	−0.036%	$7K	$13	20x	as long as short
Pacifica kSHIB	+0.0183%	1h	0.000005999	0.000%	$12K	$4K	10x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0213% / S −0.2404%	1h	0.000005000	−16.653%	$1K	—	100x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000006003	+0.066%	$1	—	20x	as long as short
Kraken Futures PF_SHIBUSD	+0.0760%	1h	0.000005994	−0.084%	$1.1M	$873K	50x	as long as short