Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0103%/8h= −11.2% APRpaid last 24h −0.031%

Price spread now: BloFin against Reya+0.034%7-day average — · you sell dearer than you buy

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

Long on Reya Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread pays, funding is against you. BloFin is 0.034% dearer against Reya than usual: you sell high and buy low (spread +0.034% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 27 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya kSHIBRUSDPERP	0.000005945	0.0323	pay 0.0040% / 1h	3m 17s	$1	—	20x
Short	BloFin SHIB-USDT	0.000005947	0.0220	get 0.0220% / 8h	5h 03m	$875K	$879K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Reya. 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 ReyabpFee BloFinbpOrdersPrice spread, now +0.034%Rate

Funding earned: −$21.55
Price spread: +0.034% → 0.000%: $3.41
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$36.14
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; BloFin: live order book, 39 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 Reya no order-book sample	—	—	—	—	—
Sell BloFin live order book, 39 min ago	0.83 bp	8.7 bp −$9	17.2 bp −$172	doesn't fit	doesn't fit

Reya: 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	−0.0295%	1h	0.000005943	−0.033%	$1.1M	$919K	50x	as long as short
Coinbase International 1000SHIB-PERP-INTX	−0.0032%	1h	0.000005930	−0.252%	$125K	$1.1M	50x	as long as short
dYdX SHIB-USD	0.0000%	1h	0.000005933	−0.204%	$23K	$64K	10x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000005942	−0.052%	$191K	$2.3M	2x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S 0.0000%	1h	0.000005945	−0.006%	$561	—	150x	as long as short
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	+1.598%	$248	$134K	5.5x	as long as short
BingX 1000SHIB-USDT	+0.0080%	8h	0.000005948	+0.051%	—	$2.1M	—	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000005948	+0.051%	$160K	$615K	10x	as long as short
Hyperliquid kSHIB	+0.0100%	1h	0.000005952	+0.118%	$3.6M	$4.8M	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000005941	−0.067%	$40K	$320K	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000SHIBUSDT	+0.0100%	8h	0.000005948	+0.051%	$29.1M	$103.0M	75x	as long as short
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000005946	+0.017%	$9.2M	$36.0M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000005942	−0.050%	$6.9M	$5.9M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000005943	−0.033%	$29.4M	$17.5M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000005943	−0.033%	$4.9M	$2.7M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000005945	0.000%	$11.3M	$14.5M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000005946	+0.017%	$23K	$7K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000005947	+0.034%	$6K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000005958	+0.219%	$2K	$24K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000005949	+0.068%	$493	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000005939	−0.101%	$407K	$583K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000005947	+0.034%	$2.1M	$6.8M	50x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000005946	+0.022%	$53K	$4K	25x	as long as short
Paradex kSHIB-USD-PERP	+0.0110%	8h	0.000005938	−0.119%	$7K	$13	20x	as long as short
Pacifica kSHIB	+0.0135%	1h	0.000005935	−0.168%	$12K	$4K	10x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0213% / S −0.2404%	1h	0.000005000	−15.895%	$1K	—	100x	as long as short
BloFin SHIB-USDTshort	+0.0220%	8h	0.000005947	+0.034%	$875K	$879K	50x
Deribit 1000SHIB_USDC-PERPETUAL	+0.0255%	1h	0.000005948	+0.051%	$46K	$61K	25x	as long as short
Reya kSHIBRUSDPERPlong	+0.0323%	1h	0.000005945	long leg	$1	—	20x