Funding you earn now, next payment 02:00 UTC−0.0132%/8h= −14.5% APRpaid last 24h −0.026%
Price spread now: Coinbase International against Binance+0.537%7-day average −0.054% · you sell dearer than you buy
Net, funding: paid 7d − costs−$61as in the Funding arb table
Net, price: spread back to 7d avg − costs+$7as in the Price arb table
costs, in and out, $10k−$520.517% of the position
Funding, last 7 days−0.096%−$10 on $10k
+Price spread, last 4 days (all we have)−0.745%−$75 · spread now +0.537%, 7d avg −0.054%
=The price spread pays, funding is against you. Coinbase International is 0.591% dearer against Binance than usual: you sell high and buy low (spread +0.537% now, against its 7-day average of −0.054%): +$59 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 15 days. At the pace of the last 7 days (−0.096% in total) that is about 43 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance 1000SHIBUSDT | 0.000005963 | 0.0100 | pay 0.0100% / 8h | 5h 09m | $29.2M | $102.6M | 75x |
| Short | Coinbase International 1000SHIB-PERP-INTX | 0.000005995 | −0.0032 | pay 0.0004% / 1h | 9m 17s | $133K | $1.1M | 50x |
Binance 1000SHIBUSDT
Coinbase International 1000SHIB-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Binance. 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
- −$27.72
- Price spread: +0.537% → −0.054%
- $59.1
- Slippage, 4 orders
- −$31.67
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$20.29
- Costs to cover
- 0.517%
- Break-even
- from the start
Slippage from Binance: live order book, 4 min ago; Coinbase International: live order book, 4 min ago.
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 Binance live order book, 4 min ago | 0.84 bp | 9.3 bp −$9 | 16.1 bp −$161 | 63.3 bp −$6,330 | 203.3 bp −$101.7K |
| Sell Coinbase International live order book, 4 min ago | 7.54 bp | 22.5 bp −$22 | 30.3 bp −$303 | doesn't fit | doesn't fit |
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 | −0.0294% | 1h | 0.000005962 | −0.018% | $1.1M | $916K | 50x | as long as short |
| Coinbase International 1000SHIB-PERP-INTXshort | −0.0032% | 1h | 0.000005995 | +0.537% | $133K | $1.1M | 50x | |
| dYdX SHIB-USD | 0.0000% | 1h | 0.000005962 | −0.009% | $23K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000005964 | +0.017% | $192K | $2.3M | 2x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | 0.0000% | 1h | 0.000005963 | +0.001% | $46K | $61K | 25x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000005960 | −0.046% | $563 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | +1.292% | $248 | $134K | 5.5x | as long as short |
| BingX 1000SHIB-USDC | +0.0080% | 8h | 0.000005964 | +0.017% | — | $1.6M | — | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000005965 | +0.034% | $160K | $615K | 10x | as long as short |
| Hyperliquid kSHIB | +0.0100% | 1h | 0.000005967 | +0.068% | $3.6M | $4.8M | 10x | as long as short |
Kraken Futures PF_SHIBUSD
dYdX SHIB-USD
Kalshi KXKSHIBPERP
Deribit 1000SHIB_USDC-PERPETUAL
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
BingX 1000SHIB-USDC
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 | 0.000005962 | −0.013% | $40K | $319K | 50x | as long as short |
| Binance 1000SHIBUSDTlong | +0.0100% | 8h | 0.000005963 | long leg | $29.2M | $102.6M | 75x | |
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000005964 | +0.017% | $9.2M | $36.0M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000005959 | −0.066% | $6.9M | $5.9M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000005961 | −0.033% | $29.5M | $17.4M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000005960 | −0.050% | $4.9M | $2.7M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000005961 | −0.033% | $11.2M | $14.4M | 75x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0100% | 1h | 0.000005970 | +0.118% | $23K | $7K | 15x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000005963 | +0.001% | $6K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000005976 | +0.219% | $2K | $24K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000005964 | +0.017% | $494 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000005960 | −0.050% | $408K | $582K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000005964 | +0.017% | $2.1M | $6.7M | 50x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000005961 | −0.025% | $53K | $4K | 25x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0111% | 8h | 0.000005966 | +0.052% | $7K | $13 | 20x | as long as short |
| Pacifica kSHIB | +0.0135% | 1h | 0.000005964 | +0.017% | $12K | $4K | 10x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000005000 | −16.149% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000005961 | −0.033% | $872K | $887K | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000005960 | −0.052% | $1 | — | 20x | as long as short |
Aster 1000SHIBUSDT
OKX SHIB-USDT-SWAP
Gate SHIB_USDT
MEXC SHIB_USDT
KuCoin SHIBUSDTM
Bitget SHIBUSDT
Backpack kSHIB_USDC_PERP
Orderly PERP_1000SHIB_USDC
SunX SHIB-USDT
SoDEX 1000SHIB-USD
HTX SHIB-USDT
Phemex u1000SHIBUSDT
Extended 1000SHIB-USD
Paradex kSHIB-USD-PERP
Pacifica kSHIB
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Reya kSHIBRUSDPERP