Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0237%/8h= −26.0% APRpaid last 24h −0.048%

Price spread now: Coinbase International against Paradex+0.338%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Coinbase International

What this pair did over the last

the charts below follow

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—+ Points / potential airdropParadex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Coinbase International is 0.338% dearer against Paradex than usual: you sell high and buy low (spread +0.338% now, against zero (this spread has no 7-day history yet)): +$34 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 4.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex kSHIB-USD-PERP	0.000006060	0.0101	pay 0.0101% / 8h	3h 09m	$7K	$16	20x
Short	Coinbase International 1000SHIB-PERP-INTX	0.000006080	−0.0136	pay 0.0017% / 1h	9m 27s	$126K	$1.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Paradex. 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 ParadexbpFee Coinbase InternationalbpOrdersPrice spread, now +0.338%Rate

Funding earned: −$49.79
Price spread: +0.338% → 0.000%: $33.83
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$29.96
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; Coinbase International: live order book, 2 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 Paradex no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 2 min ago	9.08 bp	15.7 bp −$16	22.4 bp −$224	doesn't fit	doesn't fit

Paradex: 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 exchanges

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-INTXshort	−0.0136%	1h	0.000006080	+0.338%	$126K	$1.9M	50x
Kalshi KXKSHIBPERP	0.0000%	8h	0.000006062	+0.045%	$185K	$3.0M	2x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S 0.0000%	1h	0.000006060	+0.008%	$572	—	150x	as long as short
Injective SHIB/USDC PERP	+0.0033%	1h	0.000005991	−1.130%	$246	$104K	5.5x	as long as short
BingX 1000SHIB-USDT	+0.0070%	8h	0.000006059	−0.008%	—	$2.4M	—	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000006067	+0.124%	$334K	$691K	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000006060	+0.008%	$43K	$238K	50x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000006060	+0.005%	$32.2M	$103.6M	75x	as long as short
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000006056	−0.058%	$8.4M	$40.3M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000006059	−0.008%	$7.2M	$5.2M	75x	as long as short

Show all 29 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SHIB_USDT	+0.0100%	8h	0.000006058	−0.025%	$25.4M	$11.9M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000006059	−0.008%	$5.0M	$2.7M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000006057	−0.041%	$11.6M	$15.1M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000006065	+0.091%	$25K	$7K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000006062	+0.041%	$7K	—	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000006071	+0.190%	$2K	$17K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000006063	+0.058%	$571	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000006058	−0.025%	$406K	$341K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000006070	+0.173%	$2.0M	$7.0M	50x	as long as short
Paradex kSHIB-USD-PERPlong	+0.0101%	8h	0.000006060	long leg	$7K	$16	20x
Extended 1000SHIB-USD	+0.0104%	1h	0.000006056	−0.058%	$54K	—	25x	as long as short
Pacifica kSHIB	+0.0129%	1h	0.000006063	+0.058%	$12K	$3K	10x	as long as short
Kraken Futures PF_SHIBUSD	+0.0129%	1h	0.000006064	+0.076%	$1.2M	$957K	50x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0211% / S −0.2404%	1h	0.000006000	−0.982%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000006057	−0.041%	$842K	$682K	50x	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	+0.0245%	1h	0.000006066	+0.107%	$65K	$45K	25x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000006059	−0.012%	$1	—	20x	as long as short
Hyperliquid kSHIB	+0.0609%	1h	0.000006068	+0.140%	$3.6M	$3.0M	10x	as long as short
dYdX SHIB-USD	+0.9029%	1h	0.000006064	+0.067%	$32K	$41K	10x	as long as short