Settings8H · net · $10k
Funding arb · Price arb /

SHIB

all SHIB markets
SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 09:00 UTC+0.0131%/8h= +14.3% APRpaid last 24h +0.023%
Price spread now: BingX against Coinbase International−0.246%7-day average +0.010% · you buy dearer than you sell
Net, funding: paid 7d − costs−$46as in the Funding arb table
Net, price: spread back to 7d avg − costs−$74as in the Price arb table
costs, in and out, $10k−$480.484% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days+0.028%+$3 on $10k
Price spread, last 4 days (all we have)+0.446%+$45 · spread now −0.246%, 7d avg +0.010%
Together, before fees+0.474%+$47 on $10k · with fees, hour by hour
Funding pays, the price is against you. BingX is 0.256% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.246% now, against its 7-day average of +0.010%). If the spread goes back, that is −$26 on $10k: about 6.5 days of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.028% in total) that is about 2 months.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongCoinbase International 1000SHIB-PERP-INTX0.000006109−0.0080get 0.0010% / 1h57m 49s$132K$1.7M50x
ShortBingX 1000SHIB-USDT0.0000060940.0051get 0.0051% / 8h6h 57m$2.2M

Funding history

latest
Range statsloading…

Price spread between the two exchanges

BingX against Coinbase International. 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

Funding earned
$27.51
Price spread: −0.246% → +0.010%
−$25.57
Slippage, 4 orders
−$28.35
Fee Coinbase International: 5 bp × 2 orders
−$10
Fee BingX: 5 bp × 2 orders
−$10
Net
−$46.41
Costs to cover
0.484%
Break-even
18.8 days
Slippage from Coinbase International: live order book, 1 min ago; BingX: live order book, 10 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Coinbase International live order book, 1 min ago9.02 bp14.0 bp −$1422.7 bp −$227doesn't fitdoesn't fit
Sell BingX live order book, 10 min ago1.65 bp7.7 bp −$814.8 bp −$14863.9 bp −$6,387137.5 bp −$68.8K

SHIB on 29 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Coinbase International 1000SHIB-PERP-INTXlong−0.0080%1h0.000006109long leg$132K$1.7M50x
dYdX SHIB-USD0.0000%1h0.000006097−0.200%$32K$75K10xas long as short
Kalshi KXKSHIBPERP0.0000%8h0.000006097−0.195%$108K$3.5M2xas long as short
gTrade (Gains Network) SHIB/USDL +0.0006% / S 0.0000%1h0.000006113+0.067%$577150xas long as short
Injective SHIB/USDC PERP+0.0033%1h0.000006040−1.129%$248$134K5.5xas long as short
Kraken Futures PF_SHIBUSD+0.0036%1h0.000006096−0.206%$1.2M$1.0M50xas long as short
BingX 1000SHIB-USDTshort+0.0051%8h0.000006094−0.246%$2.2M
Deribit 1000SHIB_USDC-PERPETUAL+0.0078%1h0.000006102−0.115%$49K$46K25xas long as short
Lighter 1000SHIB+0.0096%1h0.000006101−0.131%$157K$623K10xas long as short
Aster 1000SHIBUSDT+0.0100%8h0.000006096−0.205%$41K$295K50xas long as short
Show all 29 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Pacifica kSHIB+0.0100%1h0.000006098−0.180%$12K$6K10xas long as short
Binance 1000SHIBUSDT+0.0100%8h0.000006097−0.193%$31.4M$129.8M75xas long as short
OKX SHIB-USDT-SWAP+0.0100%8h0.000006097−0.196%$9.8M$47.0M50xas long as short
Gate SHIB_USDT+0.0100%8h0.000006094−0.246%$7.2M$6.8M75xas long as short
MEXC SHIB_USDT+0.0100%8h0.000006093−0.262%$27.9M$19.8M300xas long as short
KuCoin SHIBUSDTM+0.0100%8h0.000006092−0.278%$4.7M$3.2M75xas long as short
Bitget SHIBUSDT+0.0100%8h0.000006097−0.196%$11.5M$17.7M75xas long as short
Backpack kSHIB_USDC_PERP+0.0100%1h0.000006096−0.213%$24K$9K15xas long as short
Orderly PERP_1000SHIB_USDC+0.0100%8h0.000006104−0.082%$7K$4K20xas long as short
SunX SHIB-USDT+0.0100%8h0.000006107−0.033%$2K$26K20xas long as short
SoDEX 1000SHIB-USD+0.0100%1h0.000006097−0.196%$516$5K10xas long as short
HTX SHIB-USDT+0.0100%8h0.000006096−0.213%$418K$514K75xas long as short
Phemex u1000SHIBUSDT+0.0100%8h0.000006100−0.147%$2.1M$7.8M50xas long as short
Paradex kSHIB-USD-PERP+0.0101%8h0.000006100−0.140%$7K$1320xas long as short
Extended 1000SHIB-USD+0.0104%1h0.000006096−0.215%$54K$4K25xas long as short
GMX SHIB/USD [ETH-USDC]L +0.0212% / S −0.2404%1h0.000006000−1.784%$1K100xas long as short
BloFin SHIB-USDT+0.0220%8h0.000006096−0.213%$914K$942K50xas long as short
Hyperliquid kSHIB+0.0297%1h0.000006102−0.115%$3.7M$5.5M10xas long as short
Reya kSHIBRUSDPERP+0.0323%1h0.000006095−0.231%$120xas long as short