Funding you earn now, next payment 00:00 UTC+0.0509%/8h= +55.8% APRpaid last 24h +0.049%
Price spread now: Hyperliquid against Bitget+0.133%7-day average +0.085% · you sell dearer than you buy
Net, funding: paid 7d − costs−$31as in the Funding arb table
Net, price: spread back to 7d avg − costs−$38as in the Price arb table
costs, in and out, $10k−$430.432% of the position
Funding, last 7 days+0.118%+$12 on $10k
+Price spread, last 7 days−0.040%−$4 · spread now +0.133%, 7d avg +0.085%
=Together, before fees+0.078%+ Points / potential airdropHyperliquid: Season 2 · farm board+$8 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Hyperliquid is 0.048% dearer against Bitget than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.085%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.118% in total (about 6.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bitget SHIBUSDT | 0.000006025 | 0.0100 | pay 0.0100% / 8h | 4m 41s | $11.5M | $13.5M | 75x |
| Short | Hyperliquid kSHIB | 0.000006033 | 0.0609 | get 0.0076% / 1h | 4m 41s | $4.4M | $4.0M | 10x |
Bitget SHIBUSDT
Hyperliquid kSHIBFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Bitget. 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
- $106.95
- Price spread: +0.133% → +0.085%
- $4.8
- Slippage, 4 orders
- −$22.2
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $68.55
- Costs to cover
- 0.432%
- Break-even
- 2.5 days
Slippage from Bitget: live order book, 4 min ago; Hyperliquid: live order book, 7 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 Bitget live order book, 4 min ago | 0.83 bp | 8.7 bp −$9 | 14.7 bp −$147 | 51.2 bp −$5,116 | doesn't fit |
| Sell Hyperliquid live order book, 7 min ago | 1.67 bp | 8.5 bp −$9 | 15.9 bp −$159 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX SHIB-USD | 0.0000% | 1h | 0.000006022 | −0.048% | $23K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000006011 | −0.229% | $77K | $1.9M | 2x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S −0.0001% | 1h | 0.000006015 | −0.166% | $731 | — | 150x | as long as short |
| Coinbase International 1000SHIB-PERP-INTX | +0.0032% | 1h | 0.000005990 | −0.581% | $76K | $793K | 50x | as long as short |
| BingX 1000SHIB-USDC | +0.0080% | 8h | 0.000006022 | −0.050% | — | $1.6M | — | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006025 | 0.000% | $166K | $320K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006021 | −0.068% | $35K | $173K | 50x | as long as short |
| Pacifica kSHIB | +0.0100% | 1h | 0.000006025 | 0.000% | $12K | $4K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006027 | +0.030% | $29.4M | $96.4M | 75x | as long as short |
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000006029 | +0.066% | $8.6M | $32.9M | 50x | as long as short |
dYdX SHIB-USD
Kalshi KXKSHIBPERP
gTrade (Gains Network) SHIB/USD
Coinbase International 1000SHIB-PERP-INTX
BingX 1000SHIB-USDC
Lighter 1000SHIB
Aster 1000SHIBUSDT
Pacifica kSHIB
Binance 1000SHIBUSDT
OKX SHIB-USDT-SWAPShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006020 | −0.083% | $6.9M | $5.7M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006023 | −0.033% | $31.2M | $16.8M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006014 | −0.183% | $4.9M | $2.6M | 75x | as long as short |
| Bitget SHIBUSDTlong | +0.0100% | 8h | 0.000006025 | long leg | $11.5M | $13.5M | 75x | |
| Backpack kSHIB_USDC_PERP | +0.0100% | 1h | 0.000006019 | −0.100% | $25K | $6K | 15x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006017 | −0.133% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006024 | −0.017% | $2K | $24K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006019 | −0.100% | $539 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006013 | −0.199% | $411K | $618K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000006011 | −0.232% | $2.1M | $6.1M | 50x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0102% | 8h | 0.000006026 | +0.024% | $7K | — | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006021 | −0.061% | $53K | $4K | 25x | as long as short |
| Injective SHIB/USDC PERP | +0.0161% | 1h | 0.000006040 | +0.249% | $248 | $134K | 5.5x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000006000 | −0.415% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006010 | −0.249% | $804K | $938K | 50x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | +0.0249% | 1h | 0.000006017 | −0.133% | $46K | $65K | 25x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006014 | −0.188% | $1 | — | 20x | as long as short |
| Kraken Futures PF_SHIBUSD | +0.0383% | 1h | 0.000006017 | −0.134% | $1.1M | $818K | 50x | as long as short |
| Hyperliquid kSHIBshort | +0.0609% | 1h | 0.000006033 | +0.133% | $4.4M | $4.0M | 10x |
Gate SHIB_USDT
MEXC SHIB_USDT
KuCoin SHIBUSDTM
Backpack kSHIB_USDC_PERP
Orderly PERP_1000SHIB_USDC
SunX SHIB-USDT
SoDEX 1000SHIB-USD
HTX SHIB-USDT
Phemex u1000SHIBUSDT
Paradex kSHIB-USD-PERP
Extended 1000SHIB-USD
Injective SHIB/USDC PERP
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Deribit 1000SHIB_USDC-PERPETUAL
Reya kSHIBRUSDPERP
Kraken Futures PF_SHIBUSD