Funding you earn now, next payment 02:00 UTC+0.0065%/8h= +7.2% APRnext payment +$0.08 per $10,000 · paid last 24h +0.014%
Price spread now: Injective against Coinbase International+0.751%64s7-day average −0.038% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.118%+$12 on $10k
+Price spread, last 4 days (all we have)−0.659%−$66 · spread now +0.751%, 7d avg −0.038%
=Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Injective is 0.789% dearer against Coinbase International than usual: you sell high and buy low: +$79 more if the spread goes back to its 7-day average of −0.038%. The two prices were read 64 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International 1000SHIB-PERP-INTX | 0.000005995 | −0.0032 | get 0.0004% / 1h | 9m 39s | $133K | $1.1M | 50x |
| Short | Injective SHIB/USDC PERP | 0.000006040 | 0.0033 | get 0.0004% / 1h | 9m 39s | $248 | $134K | 5.5x |
Coinbase International 1000SHIB-PERP-INTX
Injective SHIB/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $13.72
- Price spread: +0.751% → −0.038%
- $78.89
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $82.59
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Coinbase International: live order book, 4 min ago; Injective: 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 Coinbase International live order book, 4 min ago | 7.54 bp | 12.5 bp −$13 | 20.2 bp −$202 | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_SHIBUSD | −0.0294% | 1h | 0.000005972 | −0.383% | $1.1M | $916K | 50x | as long as short |
| Coinbase International 1000SHIB-PERP-INTXlong | −0.0032% | 1h | 0.000005995 | long leg | $133K | $1.1M | 50x | |
| dYdX SHIB-USD | 0.0000% | 1h | 0.000005962 | −0.543% | $23K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000005980 | −0.249% | $192K | $2.3M | 2x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | 0.0000% | 1h | 0.000005975 | −0.334% | $46K | $61K | 25x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000005972 | −0.377% | $564 | — | 150x | as long as short |
| Injective SHIB/USDC PERPshort | +0.0033% | 1h | 0.000006040 | +0.751% | $248 | $134K | 5.5x | |
| BingX 1000SHIB-USDT | +0.0080% | 8h | 0.000005961 | −0.567% | — | $2.1M | — | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000005966 | −0.484% | $160K | $615K | 10x | as long as short |
| Hyperliquid kSHIB | +0.0100% | 1h | 0.000005972 | −0.384% | $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
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 | 0.000005968 | −0.450% | $41K | $319K | 50x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000005963 | −0.534% | $29.2M | $102.6M | 75x | as long as short |
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000005962 | −0.550% | $9.2M | $36.0M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000005959 | −0.601% | $6.9M | $5.9M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000005961 | −0.567% | $29.5M | $17.4M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000005964 | −0.517% | $4.9M | $2.7M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000005961 | −0.567% | $11.2M | $14.4M | 75x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0100% | 1h | 0.000005970 | −0.417% | $23K | $7K | 15x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000005976 | −0.317% | $6K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000005992 | −0.050% | $2K | $24K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000005974 | −0.350% | $494 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000005970 | −0.417% | $409K | $582K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000005973 | −0.367% | $2.1M | $6.7M | 50x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000005958 | −0.614% | $53K | $4K | 25x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0111% | 8h | 0.000005966 | −0.483% | $7K | $13 | 20x | as long as short |
| Pacifica kSHIB | +0.0135% | 1h | 0.000005964 | −0.517% | $12K | $4K | 10x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000005000 | −16.597% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000005988 | −0.117% | $875K | $891K | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000005973 | −0.366% | $1 | — | 20x | as long as short |
Aster 1000SHIBUSDT
Binance 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