Funding arb · Price arb /

SHIB

all SHIB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h 0.000%

Price spread now: Lighter against Paradex+0.086%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 Lighter

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 · Lighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. Lighter is 0.086% dearer against Paradex than usual: you sell high and buy low (spread +0.086% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 14 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex kSHIB-USD-PERP	0.000005997	0.0116	pay 0.0116% / 8h	6h 16m	$7K	$13	20x
Short	Lighter 1000SHIB	0.000006002	0.0096	get 0.0012% / 1h	16m 09s	$162K	$610K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.086%Rate

Funding earned: −$4.24
Price spread: +0.086% → 0.000%: $8.55
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Lighter: 0 bp × 2 orders: $0
Net: $0.32
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; Lighter: live order book, 34 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 Lighter live order book, 34 min ago	2.49 bp	14.4 bp −$14	68.5 bp −$685	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 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-USD	0.0000%	1h	0.000005999	+0.034%	$23K	$64K	10x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000006004	+0.111%	$191K	$2.3M	2x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S −0.0001%	1h	0.000006000	+0.049%	$730	—	150x	as long as short
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	+0.719%	$248	$134K	5.5x	as long as short
Coinbase International 1000SHIB-PERP-INTX	+0.0072%	1h	0.000006027	+0.502%	$136K	$1.1M	50x	as long as short
BingX 1000SHIB-USDC	+0.0080%	8h	0.000005999	+0.036%	—	$1.6M	—	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	+0.0083%	1h	0.000006002	+0.086%	$46K	$64K	25x	as long as short
Lighter 1000SHIBshort	+0.0096%	1h	0.000006002	+0.086%	$162K	$610K	10x
Hyperliquid kSHIB	+0.0100%	1h	0.000006009	+0.202%	$3.6M	$4.7M	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000006003	+0.103%	$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	+0.069%	$29.4M	$102.1M	75x	as long as short
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000005999	+0.036%	$9.3M	$36.1M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000005999	+0.036%	$6.9M	$5.7M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000006001	+0.069%	$30.2M	$17.5M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000006000	+0.052%	$4.9M	$2.7M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000006001	+0.069%	$11.3M	$14.3M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000005999	+0.036%	$23K	$7K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000006001	+0.069%	$7K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000006015	+0.302%	$2K	$24K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000006000	+0.052%	$515	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000005998	+0.019%	$411K	$595K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000006000	+0.052%	$2.1M	$6.6M	50x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000005997	+0.008%	$53K	$4K	25x	as long as short
Paradex kSHIB-USD-PERPlong	+0.0116%	8h	0.000005997	long leg	$7K	$13	20x
Pacifica kSHIB	+0.0183%	1h	0.000005999	+0.036%	$12K	$4K	10x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0213% / S −0.2404%	1h	0.000005000	−16.623%	$1K	—	100x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000006003	+0.101%	$1	—	20x	as long as short
Kraken Futures PF_SHIBUSD	+0.0760%	1h	0.000005994	−0.049%	$1.1M	$873K	50x	as long as short