Funding you earn now, next payment 05:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h −0.012%
Price spread now: Deribit against Backpack−0.033%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 6 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.033% cheaper against Backpack than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack kSHIB_USDC_PERP | 0.000006022 | 0.0100 | pay 0.0013% / 1h | 0m 49s | $23K | $7K | 15x |
| Short | Deribit 1000SHIB_USDC-PERPETUAL | 0.000006020 | 0 | get 0.0000% / 1h | 0m 49s | $47K | $65K | 25x |
Backpack kSHIB_USDC_PERP
Deribit 1000SHIB_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$21
- Price spread: −0.033% → 0.000%
- −$3.32
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$41.32
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Backpack: 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 Backpack no order-book sample | — | — | — | — | — |
| Sell Deribit no order-book sample | — | — | — | — | — |
Backpack 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International 1000SHIB-PERP-INTX | −0.0168% | 1h | 0.000006051 | +0.482% | $118K | $1.6M | 50x | as long as short |
| Kraken Futures PF_SHIBUSD | −0.0065% | 1h | 0.000006015 | −0.113% | $1.1M | $1.0M | 50x | as long as short |
| dYdX SHIB-USD | 0.0000% | 1h | 0.000006021 | −0.020% | $23K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000006020 | −0.032% | $134K | $3.1M | 2x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUALshort | 0.0000% | 1h | 0.000006020 | −0.033% | $47K | $65K | 25x | |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000006017 | −0.080% | $568 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | +0.299% | $248 | $134K | 5.5x | as long as short |
| BingX 1000SHIB-USDT | +0.0070% | 8h | 0.000006015 | −0.116% | — | $2.3M | — | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006020 | −0.033% | $158K | $630K | 10x | as long as short |
| Hyperliquid kSHIB | +0.0100% | 1h | 0.000006024 | +0.033% | $3.6M | $5.3M | 10x | as long as short |
Coinbase International 1000SHIB-PERP-INTX
Kraken Futures PF_SHIBUSD
dYdX SHIB-USD
Kalshi KXKSHIBPERP
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
BingX 1000SHIB-USDT
Lighter 1000SHIB
Hyperliquid kSHIBShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006020 | −0.038% | $41K | $336K | 50x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006020 | −0.036% | $30.4M | $121.0M | 75x | as long as short |
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000006013 | −0.149% | $9.6M | $41.2M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006013 | −0.149% | $7.1M | $7.0M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006015 | −0.116% | $28.8M | $19.1M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006018 | −0.066% | $4.7M | $3.1M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006014 | −0.133% | $11.3M | $16.8M | 75x | as long as short |
| Backpack kSHIB_USDC_PERPlong | +0.0100% | 1h | 0.000006022 | long leg | $23K | $7K | 15x | |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006020 | −0.033% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006029 | +0.116% | $2K | $26K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006021 | −0.017% | $500 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006024 | +0.033% | $410K | $590K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000006022 | 0.000% | $2.1M | $7.2M | 50x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0101% | 8h | 0.000006023 | +0.018% | $7K | $13 | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006013 | −0.156% | $53K | $4K | 25x | as long as short |
| Pacifica kSHIB | +0.0188% | 1h | 0.000006019 | −0.050% | $12K | $5K | 10x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000006000 | −0.365% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006017 | −0.083% | $925K | $911K | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006016 | −0.095% | $1 | — | 20x | as long as short |
Aster 1000SHIBUSDT
Binance 1000SHIBUSDT
OKX SHIB-USDT-SWAP
Gate SHIB_USDT
MEXC SHIB_USDT
KuCoin SHIBUSDTM
Bitget SHIBUSDT
Orderly PERP_1000SHIB_USDC
SunX SHIB-USDT
SoDEX 1000SHIB-USD
HTX SHIB-USDT
Phemex u1000SHIBUSDT
Paradex kSHIB-USD-PERP
Extended 1000SHIB-USD
Pacifica kSHIB
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Reya kSHIBRUSDPERP