Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.2304%/8h= +252.2% APRpaid last 24h +0.697%

Price spread now: GMX against Gate−1.607%177s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Gate Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. GMX is 1.607% cheaper against Gate than usual: you would sell low and buy high (spread −1.607% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$161 on $10k: about 2.3 days of funding at the current rate (+$69 a day). The two prices were read 177 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	Gate SHIB_USDT	0.000006098	0.0100	pay 0.0100% / 8h	6h 58m	$7.2M	$6.8M	75x
Short	GMX SHIB/USD [ETH-USDC]	0.000006000	L +0.0212% / S −0.2404%	get 0.0300% / 1h	58m 09s	$1K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Gate. 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

Position, each leg$Hold fordaysFee GatebpFee GMXbpOrdersPrice spread, now −1.607%Rate

Funding earned: $483.74
Price spread: −1.607% → 0.000%: −$160.71
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee GMX: 6 bp × 2 orders: −$12
Net: $296.04
Costs to cover: 0.270%
Break-even: 2.7 days

Slippage unknown: Gate: live order book, just now; GMX: 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 Gate live order book, just now	1.64 bp	16.4 bp −$16	43.2 bp −$432	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	−0.0080%	1h	0.000006109	+0.180%	$132K	$1.7M	50x	as long as short
dYdX SHIB-USD	0.0000%	1h	0.000006097	−0.020%	$32K	$75K	10x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000006097	−0.015%	$108K	$3.5M	2x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S 0.0000%	1h	0.000006113	+0.248%	$577	—	150x	as long as short
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	−0.951%	$248	$134K	5.5x	as long as short
Kraken Futures PF_SHIBUSD	+0.0036%	1h	0.000006096	−0.026%	$1.2M	$1.0M	50x	as long as short
BingX 1000SHIB-USDC	+0.0070%	8h	0.000006102	+0.066%	—	$1.6M	—	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	+0.0078%	1h	0.000006102	+0.066%	$49K	$46K	25x	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000006101	+0.049%	$157K	$623K	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000006099	+0.017%	$41K	$295K	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kSHIB	+0.0100%	1h	0.000006098	0.000%	$12K	$6K	10x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000006097	−0.012%	$31.4M	$129.8M	75x	as long as short
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000006093	−0.082%	$9.8M	$47.0M	50x	as long as short
Gate SHIB_USDTlong	+0.0100%	8h	0.000006098	long leg	$7.2M	$6.8M	75x
MEXC SHIB_USDT	+0.0100%	8h	0.000006098	0.000%	$27.9M	$19.8M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000006100	+0.033%	$4.7M	$3.2M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000006100	+0.033%	$11.5M	$17.7M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000006099	+0.016%	$24K	$9K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000006104	+0.098%	$7K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000006107	+0.148%	$2K	$26K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000006097	−0.016%	$516	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000006096	−0.033%	$418K	$514K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000006100	+0.033%	$2.1M	$7.8M	50x	as long as short
Paradex kSHIB-USD-PERP	+0.0101%	8h	0.000006100	+0.040%	$7K	$13	20x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000006098	−0.002%	$54K	$4K	25x	as long as short
GMX SHIB/USD [ETH-USDC]short	L +0.0212% / S −0.2404%	1h	0.000006000	−1.607%	$1K	—	100x
BloFin SHIB-USDT	+0.0220%	8h	0.000006096	−0.033%	$914K	$942K	50x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000006095	−0.051%	$1	—	20x	as long as short
Hyperliquid kSHIB	+0.0339%	1h	0.000006107	+0.148%	$3.7M	$5.5M	10x	as long as short