Funding you earn now, next payment 08:00 UTC−0.0152%/8h= −16.7% APRpaid last 24h +0.011%
Price spread now: Phemex against Deribit−0.050%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+0.038%+$4 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 −$5 a day on $10k at the current rate, and Phemex is 0.050% 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.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit 1000SHIB_USDC-PERPETUAL | 0.000005978 | 0.0252 | pay 0.0032% / 1h | 12m 27s | $50K | $59K | 25x |
| Short | Phemex u1000SHIBUSDT | 0.000005975 | 0.0100 | get 0.0100% / 8h | 12m 27s | $2.1M | $7.7M | 50x |
Deribit 1000SHIB_USDC-PERPETUAL
Phemex u1000SHIBUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- −$31.94
- Price spread: −0.050% → 0.000%
- −$5.02
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$55.96
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: Deribit: no order-book sample; Phemex: 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 Phemex live order book, 1 min ago | 2.51 bp | 22.6 bp −$23 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International 1000SHIB-PERP-INTX | −0.0016% | 1h | 0.000005961 | −0.284% | $116K | $1.6M | 50x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000005972 | −0.097% | $126K | $3.2M | 2x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000005972 | −0.095% | $564 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | +1.037% | $248 | $134K | 5.5x | as long as short |
| BingX 1000SHIB-USDT | +0.0070% | 8h | 0.000005976 | −0.033% | — | $2.3M | — | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000005981 | +0.050% | $156K | $644K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000005976 | −0.033% | $41K | $301K | 50x | as long as short |
| Pacifica kSHIB | +0.0100% | 1h | 0.000005980 | +0.033% | $12K | $6K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000005983 | +0.080% | $30.4M | $128.2M | 75x | as long as short |
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000005978 | 0.000% | $8.8M | $44.2M | 50x | as long as short |
Coinbase International 1000SHIB-PERP-INTX
Kalshi KXKSHIBPERP
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
BingX 1000SHIB-USDT
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 | 0.000005974 | −0.067% | $7.0M | $7.3M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000005973 | −0.084% | $28.6M | $20.2M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000005976 | −0.033% | $4.7M | $3.2M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000005978 | 0.000% | $11.3M | $17.2M | 75x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0100% | 1h | 0.000005976 | −0.033% | $23K | $8K | 15x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000005976 | −0.033% | $6K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000005987 | +0.151% | $2K | $27K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000005976 | −0.033% | $510 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000005975 | −0.050% | $407K | $576K | 75x | as long as short |
| Phemex u1000SHIBUSDTshort | +0.0100% | 8h | 0.000005975 | −0.050% | $2.1M | $7.7M | 50x | |
| Paradex kSHIB-USD-PERP | +0.0103% | 8h | 0.000005982 | +0.067% | $7K | $13 | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000005975 | −0.050% | $53K | $4K | 25x | as long as short |
| Kraken Futures PF_SHIBUSD | +0.0201% | 1h | 0.000005972 | −0.092% | $1.2M | $1.0M | 50x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0212% / S −0.2404% | 1h | 0.000005000 | −16.360% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000005973 | −0.084% | $844K | $932K | 50x | as long as short |
| Hyperliquid kSHIB | +0.0225% | 1h | 0.000005986 | +0.134% | $3.6M | $5.5M | 10x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUALlong | +0.0252% | 1h | 0.000005978 | long leg | $50K | $59K | 25x | |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000005978 | +0.003% | $1 | — | 20x | as long as short |
| dYdX SHIB-USD | +0.5504% | 1h | 0.000005978 | +0.003% | $35K | $70K | 10x | as long as short |
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
Paradex kSHIB-USD-PERP
Extended 1000SHIB-USD
Kraken Futures PF_SHIBUSD
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Hyperliquid kSHIB
Reya kSHIBRUSDPERP
dYdX SHIB-USD