Funding you earn now, next payment 06:00 UTC+0.0188%/8h= +20.6% APRpaid last 24h +0.032%
Price spread now: Phemex against Coinbase International+0.066%7-day average +0.036% · you sell dearer than you buy
Net, funding: paid 7d − costs−$46as in the Funding arb table
Net, price: spread back to 7d avg − costs−$57as in the Price arb table
costs, in and out, $10k−$600.604% of the position
Funding, last 7 days+0.145%+$14 on $10k
+Price spread, last 4 days (all we have)+0.006%+$1 · spread now +0.066%, 7d avg +0.036%
=Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Phemex is 0.030% dearer against Coinbase International than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.036%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International 1000SHIB-PERP-INTX | 0.000006016 | −0.0088 | get 0.0011% / 1h | 0m 19s | $117K | $1.6M | 50x |
| Short | Phemex u1000SHIBUSDT | 0.000006020 | 0.0100 | get 0.0100% / 8h | 1h 00m | $2.1M | $7.7M | 50x |
Coinbase International 1000SHIB-PERP-INTX
Phemex u1000SHIBUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- $39.48
- Price spread: +0.066% → +0.036%
- $3.04
- Slippage, 4 orders
- −$38.4
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$17.87
- Costs to cover
- 0.604%
- Break-even
- 10.2 days
Slippage from Coinbase International: live order book, 3 min ago; Phemex: 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 Coinbase International live order book, 3 min ago | 8.31 bp | 18.1 bp −$18 | 22.4 bp −$224 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 4 min ago | 4.98 bp | 13.4 bp −$13 | 54.1 bp −$541 | 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 | −0.0374% | 1h | 0.000006012 | −0.074% | $1.1M | $1.0M | 50x | as long as short |
| Coinbase International 1000SHIB-PERP-INTXlong | −0.0088% | 1h | 0.000006016 | long leg | $117K | $1.6M | 50x | |
| dYdX SHIB-USD | 0.0000% | 1h | 0.000006008 | −0.136% | $23K | $56K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000006012 | −0.073% | $106K | $3.2M | 2x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000006013 | −0.043% | $568 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | +0.399% | $248 | $134K | 5.5x | as long as short |
| BingX 1000SHIB-USDT | +0.0069% | 8h | 0.000006016 | 0.000% | — | $2.3M | — | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | +0.0083% | 1h | 0.000006016 | 0.000% | $47K | $62K | 25x | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006019 | +0.050% | $157K | $641K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006018 | +0.026% | $41K | $336K | 50x | as long as short |
Kraken Futures PF_SHIBUSD
dYdX SHIB-USD
Kalshi KXKSHIBPERP
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
BingX 1000SHIB-USDT
Deribit 1000SHIB_USDC-PERPETUAL
Lighter 1000SHIB
Aster 1000SHIBUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica kSHIB | +0.0100% | 1h | 0.000006009 | −0.116% | $12K | $5K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006017 | +0.017% | $30.1M | $127.3M | 75x | as long as short |
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000006015 | −0.017% | $9.2M | $43.3M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006009 | −0.116% | $7.0M | $7.5M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006016 | 0.000% | $28.0M | $19.9M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006012 | −0.066% | $4.6M | $3.2M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006013 | −0.050% | $11.4M | $17.2M | 75x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0100% | 1h | 0.000006010 | −0.100% | $23K | $8K | 15x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006015 | −0.017% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006026 | +0.166% | $2K | $27K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006015 | −0.017% | $503 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006011 | −0.083% | $410K | $575K | 75x | as long as short |
| Phemex u1000SHIBUSDTshort | +0.0100% | 8h | 0.000006020 | +0.066% | $2.1M | $7.7M | 50x | |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006012 | −0.060% | $53K | $4K | 25x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0105% | 8h | 0.000006018 | +0.035% | $7K | $13 | 20x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0212% / S −0.2404% | 1h | 0.000006000 | −0.266% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006004 | −0.199% | $859K | $934K | 50x | as long as short |
| Hyperliquid kSHIB | +0.0227% | 1h | 0.000006023 | +0.116% | $3.6M | $5.4M | 10x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006013 | −0.058% | $1 | — | 20x | as long as short |
Pacifica kSHIB
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
Extended 1000SHIB-USD
Paradex kSHIB-USD-PERP
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Hyperliquid kSHIB
Reya kSHIBRUSDPERP