data as of
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Funding arb /

SHIB

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Funding spread now, next payment 16:00 UTC+0.0175%/8h
paid, last 24h+0.004%paid, last 7 days+0.023%to open and close $10k−$81
Long on PhemexShort on Hyperliquid
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex u1000SHIBUSDT0.0000058930.0100pay 0.0100% / 8h51m 46s$2.1M$4.3M50x
ShortHyperliquid kSHIB0.0000059080.0275get 0.0034% / 1h51m 46s$3.5M$2.2M10x

Funding history

latest
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Funding on every exchange

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latest

Profit calculator

Funding earned
$36.7
Slippage, 4 orders
−$59.92
Fee Phemex: 6 bp × 2 orders
−$12
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$44.21
Break-even
15.4 days
Slippage from Phemex: live order book, 3 min ago; Hyperliquid: live order book, 1 min ago.

Price risk

price view
Price gap now
+0.255%
Avg gap 7d
+0.078%
A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Phemex live order book, 3 min ago12.62 bp31.4 bp −$31doesn't fitdoesn't fitdoesn't fit
Sell Hyperliquid live order book, 1 min ago3.39 bp12.7 bp −$1321.9 bp −$219doesn't fitdoesn't fit

SHIB on 29 venues

lowest funding first. Swap a leg.
ExchangeFunding /8hEveryOIVol 24hMax lev
Coinbase International 1000SHIB-PERP-INTX−0.0008%1h$92K$913K50xas long as short
dYdX SHIB-USD0.0000%1h$34K$54K10xas long as short
Kalshi KXKSHIBPERP0.0000%8h$289K$976K2xas long as short
Deribit 1000SHIB_USDC-PERPETUAL0.0000%1h$37K$62K25xas long as short
gTrade (Gains Network) SHIB/USDL +0.0007% / S −0.0008%1h$1K—150xas long as short
Gate SHIB_USDT+0.0067%8h$6.7M$4.2M75xas long as short
BingX 1000SHIB-USDC+0.0080%8h—$1.6M—as long as short
Lighter 1000SHIB+0.0096%1h$159K$210K10xas long as short
Paradex kSHIB-USD-PERP+0.0098%8h$7K—20xas long as short
Aster 1000SHIBUSDT+0.0100%8h$47K$164K50xas long as short
Show all 29 venues
ExchangeFunding /8hEveryOIVol 24hMax lev
Pacifica kSHIB+0.0100%1h$12K$3K10xas long as short
Binance 1000SHIBUSDT+0.0100%8h$28.6M$61.4M75xas long as short
OKX SHIB-USDT-SWAP+0.0100%8h$7.7M$21.4M50xas long as short
MEXC SHIB_USDT+0.0100%8h$20.1M$8.3M300xas long as short
KuCoin SHIBUSDTM+0.0100%8h$5.0M$2.1M75xas long as short
Bitget SHIBUSDT+0.0100%8h$11.2M$9.6M75xas long as short
Orderly PERP_1000SHIB_USDC+0.0100%8h$6K$1K20xas long as short
SunX SHIB-USDT+0.0100%8h$2K$18K20xas long as short
SoDEX 1000SHIB-USD+0.0100%1h$521$5K10xas long as short
HTX SHIB-USDT+0.0100%8h$401K$776K75xas long as short
Phemex u1000SHIBUSDTlong+0.0100%8h$2.1M$4.3M50x
Extended 1000SHIB-USD+0.0104%1h$52K$6K25xas long as short
Backpack kSHIB_USDC_PERP+0.0147%1h$27K$4K15xas long as short
GMX SHIB/USD [ETH-USDC]L +0.0215% / S −0.2404%1h$1K—100xas long as short
BloFin SHIB-USDT+0.0220%8h$704K$826K50xas long as short
Hyperliquid kSHIBshort+0.0275%1h$3.5M$2.2M10x
Injective SHIB/USDC PERP+0.0306%1h$236$110K5.5xas long as short
Reya kSHIBRUSDPERP+0.0323%1h$1—20xas long as short
Kraken Futures PF_SHIBUSD+0.0358%1h$1.1M$662K50xas long as short