SHIB

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After costs, if the gap returns to its 7d average, $10k−$29

spread now+0.140%7d average+0.082%fees + slippage, in and out−$35spread needed0.351%

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX 1000SHIB-USDT	0.000005726	0.0080	pay 0.0080% / 8h	2h 40m	—	$2.1M	—
Short	Hyperliquid kSHIB	0.000005734	0.0100	get 0.0013% / 1h	40m 18s	$3.1M	$1.2M	10x

Price spread history

latest

Range statsloading…

share of time at each level, last 7D

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Position, each leg$Hold forhoursFee BingXbpFee HyperliquidbpOrdersClose when spread is

Slippage from BingX: live order book, 14 min ago; Hyperliquid: live order book, 2 min ago.

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy BingX live order book, 14 min ago	2.62 bp	7.6 bp −$8	12.3 bp −$123	46.0 bp −$4,603	124.4 bp −$62.2K
Sell Hyperliquid live order book, 2 min ago	0.87 bp	6.4 bp −$6	12.2 bp −$122	doesn't fit	doesn't fit

against the cheapest. Click to use as the short leg.

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
GMX SHIB/USD [ETH-USDC]	−12.679%	L +0.0214% / S −0.2404%	1h	$1K	—	100x	as long as short
Injective SHIB/USDC PERP	−4.418%	+0.0033%	1h	$224	$92K	5.5x	as long as short
BloFin SHIB-USDT	−0.087%	+0.0220%	8h	$722K	$735K	50x	as long as short
dYdX SHIB-USD	−0.038%	0.0000%	1h	$33K	$54K	10x	as long as short
Gate SHIB_USDT	−0.017%	+0.0079%	8h	$6.4M	$3.6M	75x	as long as short
Kalshi KXKSHIBPERP	−0.003%	0.0000%	8h	$284K	$831K	2x	as long as short
BingX 1000SHIB-USDTlong	0.000%	+0.0080%	8h	—	$2.1M	—
Backpack kSHIB_USDC_PERP	0.000%	+0.0100%	1h	$24K	$3K	15x	as long as short
MEXC SHIB_USDT	+0.017%	+0.0100%	8h	$19.7M	$7.8M	300x	as long as short
HTX SHIB-USDT	+0.017%	+0.0100%	8h	$389K	$709K	75x	as long as short

Show all 29 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Extended 1000SHIB-USD	+0.023%	+0.0104%	1h	$51K	$6K	25x	as long as short
gTrade (Gains Network) SHIB/USD	+0.026%	L +0.0006% / S −0.0001%	1h	$697	—	150x	as long as short
Paradex kSHIB-USD-PERP	+0.029%	+0.0100%	8h	$7K	—	20x	as long as short
Lighter 1000SHIB	+0.035%	+0.0096%	1h	$154K	$180K	10x	as long as short
Pacifica kSHIB	+0.035%	+0.0100%	1h	$11K	$2K	10x	as long as short
Coinbase International 1000SHIB-PERP-INTX	+0.035%	+0.0048%	1h	$90K	$907K	50x	as long as short
OKX SHIB-USDT-SWAP	+0.035%	+0.0100%	8h	$7.5M	$17.8M	50x	as long as short
KuCoin SHIBUSDTM	+0.035%	+0.0100%	8h	$4.5M	$1.8M	75x	as long as short
Reya kSHIBRUSDPERP	+0.044%	+0.0323%	1h	$1	—	20x	as long as short
Aster 1000SHIBUSDT	+0.046%	+0.0100%	8h	$44K	$154K	50x	as long as short
Orderly PERP_1000SHIB_USDC	+0.070%	+0.0100%	8h	$6K	$1K	20x	as long as short
Phemex u1000SHIBUSDT	+0.070%	+0.0100%	8h	$2.1M	$3.9M	50x	as long as short
Binance 1000SHIBUSDT	+0.074%	+0.0100%	8h	$27.6M	$52.5M	75x	as long as short
Bitget SHIBUSDT	+0.087%	+0.0100%	8h	$11.1M	$8.3M	75x	as long as short
SoDEX 1000SHIB-USD	+0.087%	+0.0100%	1h	$521	$6K	10x	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	+0.087%	+0.0099%	1h	$45K	$52K	25x	as long as short
Hyperliquid kSHIBshort	+0.140%	+0.0100%	1h	$3.1M	$1.2M	10x
Kraken Futures PF_SHIBUSD	+0.173%	+0.0174%	1h	$1.1M	$592K	50x	as long as short
SunX SHIB-USDT	+0.227%	+0.0100%	8h	$2K	$15K	20x	as long as short