Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRnext payment −$1.00 per $10,000 · paid last 24h −0.029%
Price spread now: Kalshi against Orderly−0.273%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 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
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Kalshi is 0.273% cheaper against Orderly than usual: you would sell low and buy high (−$27 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_1000SHIB_USDC | 0.000005974 | 0.0100 | pay 0.0100% / 8h | 2h 24m | $6K | $4K | 20x |
| Short | Kalshi KXKSHIBPERP | 0.000005958 | 0 | get 0.0000% / 8h | 6h 24m | $109K | $3.2M | 2x |
Orderly PERP_1000SHIB_USDC
Kalshi KXKSHIBPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kalshi against Orderly. 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
- −$21
- Price spread: −0.273% → 0.000%
- −$27.28
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Net
- −$64.28
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Kalshi: live order book, 4 min ago. 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Kalshi live order book, 4 min ago | 7.89 bp | 14.4 bp −$14 | 21.8 bp −$218 | doesn't fit | doesn't fit |
Orderly: 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 | −0.0597% | 1h | 0.000005970 | −0.070% | $1.1M | $1.0M | 50x | as long as short |
| Coinbase International 1000SHIB-PERP-INTX | −0.0128% | 1h | 0.000005947 | −0.452% | $116K | $1.6M | 50x | as long as short |
| dYdX SHIB-USD | 0.0000% | 1h | 0.000005953 | −0.352% | $23K | $56K | 10x | as long as short |
| Kalshi KXKSHIBPERPshort | 0.0000% | 8h | 0.000005958 | −0.273% | $109K | $3.2M | 2x | |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000005970 | −0.060% | $563 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | +1.105% | $248 | $134K | 5.5x | as long as short |
| BingX 1000SHIB-USDT | +0.0066% | 8h | 0.000005954 | −0.335% | — | $2.3M | — | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | +0.0085% | 1h | 0.000005972 | −0.033% | $46K | $65K | 25x | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000005956 | −0.301% | $156K | $635K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000005954 | −0.334% | $41K | $336K | 50x | as long as short |
Kraken Futures PF_SHIBUSD
Coinbase International 1000SHIB-PERP-INTX
dYdX SHIB-USD
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
BingX 1000SHIB-USDT
Deribit 1000SHIB_USDC-PERPETUAL
Lighter 1000SHIB
Aster 1000SHIBUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica kSHIB | +0.0100% | 1h | 0.000005954 | −0.335% | $12K | $5K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000005954 | −0.335% | $30.0M | $123.6M | 75x | as long as short |
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000005949 | −0.418% | $9.2M | $42.0M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000005948 | −0.435% | $7.0M | $7.3M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000005952 | −0.368% | $28.2M | $19.2M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000005953 | −0.352% | $4.6M | $3.2M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000005953 | −0.352% | $11.2M | $17.1M | 75x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0100% | 1h | 0.000005959 | −0.251% | $23K | $7K | 15x | as long as short |
| Orderly PERP_1000SHIB_USDClong | +0.0100% | 8h | 0.000005974 | long leg | $6K | $4K | 20x | |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000005980 | +0.100% | $2K | $27K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000005969 | −0.084% | $502 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000005970 | −0.067% | $408K | $568K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000005972 | −0.033% | $2.0M | $7.4M | 50x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0101% | 8h | 0.000005957 | −0.279% | $7K | $13 | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000005952 | −0.362% | $53K | $4K | 25x | as long as short |
| Hyperliquid kSHIB | +0.0162% | 1h | 0.000005959 | −0.251% | $3.6M | $5.3M | 10x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000005000 | −16.304% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000005960 | −0.234% | $893K | $916K | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000005949 | −0.426% | $1 | — | 20x | as long as short |
Pacifica kSHIB
Binance 1000SHIBUSDT
OKX SHIB-USDT-SWAP
Gate SHIB_USDT
MEXC SHIB_USDT
KuCoin SHIBUSDTM
Bitget SHIBUSDT
Backpack kSHIB_USDC_PERP
SunX SHIB-USDT
SoDEX 1000SHIB-USD
HTX SHIB-USDT
Phemex u1000SHIBUSDT
Paradex kSHIB-USD-PERP
Extended 1000SHIB-USD
Hyperliquid kSHIB
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Reya kSHIBRUSDPERP