Funding arb · Price arb /

SHIB

all SHIB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0141%/8h= +15.5% APRpaid last 24h −0.012%

Price spread now: Deribit against Paradex−0.499%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 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

Funding pays, the price is against you. Deribit is 0.499% cheaper against Paradex than usual: you would sell low and buy high (spread −0.499% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$50 on $10k: about 12 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex kSHIB-USD-PERP	0.000006090	0.0104	pay 0.0104% / 8h	1h 45m	$7K	—	20x
Short	Deribit 1000SHIB_USDC-PERPETUAL	0.000006060	0.0245	get 0.0031% / 1h	45m 48s	$46K	$65K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.499%Rate

Funding earned: $29.7
Price spread: −0.499% → 0.000%: −$49.95
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$31.25
Costs to cover: 0.110%
Break-even: 14.4 days

Slippage unknown: Paradex: no order-book sample; Deribit: 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 Paradex no order-book sample	—	—	—	—	—
Sell Deribit no order-book sample	—	—	—	—	—

Paradex and Deribit: 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
dYdX SHIB-USD	0.0000%	1h	0.000006074	−0.264%	$23K	$64K	10x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000006059	−0.522%	$72K	$1.8M	2x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S −0.0001%	1h	0.000006053	−0.623%	$736	—	150x	as long as short
Coinbase International 1000SHIB-PERP-INTX	+0.0008%	1h	0.000006064	−0.434%	$85K	$784K	50x	as long as short
BingX 1000SHIB-USDT	+0.0068%	8h	0.000006076	−0.237%	—	$2.1M	—	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000006078	−0.204%	$154K	$287K	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000006072	−0.302%	$36K	$167K	50x	as long as short
Pacifica kSHIB	+0.0100%	1h	0.000006077	−0.220%	$12K	$4K	10x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000006083	−0.122%	$29.7M	$89.8M	75x	as long as short
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000006089	−0.023%	$8.5M	$30.2M	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate SHIB_USDT	+0.0100%	8h	0.000006075	−0.253%	$6.9M	$5.4M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000006083	−0.122%	$31.9M	$15.5M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000006075	−0.253%	$4.9M	$2.3M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000006077	−0.220%	$11.7M	$12.6M	75x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000006055	−0.582%	$7K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000006075	−0.253%	$2K	$23K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000006063	−0.450%	$543	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000006060	−0.499%	$408K	$618K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000006060	−0.499%	$2.1M	$5.5M	50x	as long as short
Paradex kSHIB-USD-PERPlong	+0.0104%	8h	0.000006090	long leg	$7K	—	20x
Extended 1000SHIB-USD	+0.0104%	1h	0.000006077	−0.217%	$54K	$4K	25x	as long as short
Injective SHIB/USDC PERP	+0.0141%	1h	0.000005975	−1.895%	$245	$99K	5.5x	as long as short
Backpack kSHIB_USDC_PERP	+0.0163%	1h	0.000006065	−0.417%	$25K	$5K	15x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0213% / S −0.2404%	1h	0.000006000	−1.485%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000006027	−1.041%	$706K	$944K	50x	as long as short
Deribit 1000SHIB_USDC-PERPETUALshort	+0.0245%	1h	0.000006060	−0.499%	$46K	$65K	25x
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000006055	−0.585%	$1	—	20x	as long as short
Kraken Futures PF_SHIBUSD	+0.0357%	1h	0.000006066	−0.397%	$1.2M	$772K	50x	as long as short
Hyperliquid kSHIB	+0.0975%	1h	0.000006089	−0.023%	$4.4M	$3.8M	10x	as long as short