Funding you earn now, next payment 07:00 UTC−0.0456%/8h= −50.0% APRnext payment −$0.57 per $10,000 · paid last 24h −0.016%
Price spread now: Kraken Futures against Deribit−0.046%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.066%−$7 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Kraken Futures is 0.046% cheaper against Deribit than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.066% in total (about -3.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.57 per $10,000. 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 | Deribit 1000SHIB_USDC-PERPETUAL | 0.000006017 | 0.0083 | pay 0.0010% / 1h | 22m 25s | $47K | $65K | 25x |
| Short | Kraken Futures PF_SHIBUSD | 0.000006014 | −0.0374 | pay 0.0047% / 1h | 22m 25s | $1.2M | $1.1M | 50x |
Deribit 1000SHIB_USDC-PERPETUAL
Kraken Futures PF_SHIBUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Deribit. 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
- −$95.83
- Price spread: −0.046% → 0.000%
- −$4.62
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$117.45
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Deribit: no order-book sample; Kraken Futures: live order book, 1 min ago. 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 Deribit no order-book sample | — | — | — | — | — |
| Sell Kraken Futures live order book, 1 min ago | 1.66 bp | 14.3 bp −$14 | 23.0 bp −$230 | doesn't fit | doesn't fit |
Deribit: 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_SHIBUSDshort | −0.0374% | 1h | 0.000006014 | −0.046% | $1.2M | $1.1M | 50x | |
| Coinbase International 1000SHIB-PERP-INTX | −0.0088% | 1h | 0.000006016 | −0.017% | $117K | $1.6M | 50x | as long as short |
| dYdX SHIB-USD | 0.0000% | 1h | 0.000006009 | −0.133% | $23K | $56K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000006019 | +0.028% | $106K | $3.3M | 2x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000006012 | −0.090% | $567 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | +0.382% | $248 | $134K | 5.5x | as long as short |
| BingX 1000SHIB-USDT | +0.0052% | 8h | 0.000006007 | −0.166% | — | $2.3M | — | as long as short |
| Deribit 1000SHIB_USDC-PERPETUALlong | +0.0083% | 1h | 0.000006017 | long leg | $47K | $65K | 25x | |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006015 | −0.033% | $156K | $641K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006005 | −0.201% | $41K | $336K | 50x | as long as short |
Coinbase International 1000SHIB-PERP-INTX
dYdX SHIB-USD
Kalshi KXKSHIBPERP
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
BingX 1000SHIB-USDT
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 | 0.000006013 | −0.066% | $12K | $5K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006011 | −0.100% | $30.1M | $128.3M | 75x | as long as short |
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000006008 | −0.150% | $9.1M | $43.4M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006007 | −0.166% | $7.1M | $7.4M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006003 | −0.233% | $27.9M | $19.7M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006007 | −0.166% | $4.7M | $3.2M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006009 | −0.133% | $11.3M | $17.4M | 75x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0100% | 1h | 0.000006012 | −0.083% | $23K | $8K | 15x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006017 | 0.000% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006032 | +0.249% | $2K | $27K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006015 | −0.033% | $508 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006011 | −0.100% | $409K | $577K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000006012 | −0.083% | $2.1M | $7.7M | 50x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0104% | 8h | 0.000006012 | −0.085% | $7K | $13 | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006007 | −0.161% | $53K | $4K | 25x | as long as short |
| Hyperliquid kSHIB | +0.0151% | 1h | 0.000006017 | 0.000% | $3.6M | $5.4M | 10x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0212% / S −0.2404% | 1h | 0.000006000 | −0.283% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006015 | −0.033% | $863K | $934K | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006007 | −0.174% | $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
Phemex u1000SHIBUSDT
Paradex kSHIB-USD-PERP
Extended 1000SHIB-USD
Hyperliquid kSHIB
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Reya kSHIBRUSDPERP