Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0113%/8h= −12.4% APRpaid last 24h −0.029%

Price spread now: Aster against GMX+0.289%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 0.289% dearer against GMX than usual: you sell high and buy low (spread +0.289% now, against zero (this spread has no 7-day history yet)): +$29 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 8.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX SHIB/USD [ETH-USDC]	0.000006000	L +0.0213% / S −0.2404%	pay 0.0027% / 1h	23m 56s	$1K	—	100x
Short	Aster 1000SHIBUSDT	0.000006017	0.0100	get 0.0100% / 8h	4h 23m	$40K	$321K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against GMX. 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 GMXbpFee AsterbpOrdersPrice spread, now +0.289%Rate

Funding earned: −$23.78
Price spread: +0.289% → 0.000%: $28.88
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: −$14.9
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; Aster: live order book, 33 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 GMX no order-book sample	—	—	—	—	—
Sell Aster live order book, 33 min ago	5.88 bp	41.8 bp −$42	146.6 bp −$1,466	doesn't fit	doesn't fit

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
Kraken Futures PF_SHIBUSD	−0.0350%	1h	0.000006014	+0.236%	$1.1M	$931K	50x	as long as short
Coinbase International 1000SHIB-PERP-INTX	−0.0088%	1h	0.000006010	+0.167%	$126K	$1.1M	50x	as long as short
dYdX SHIB-USD	0.0000%	1h	0.000006020	+0.331%	$23K	$64K	10x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000006018	+0.307%	$194K	$2.3M	2x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S 0.0000%	1h	0.000006016	+0.258%	$568	—	150x	as long as short
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	+0.667%	$248	$134K	5.5x	as long as short
BingX 1000SHIB-USDT	+0.0080%	8h	0.000006013	+0.217%	—	$2.1M	—	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	+0.0083%	1h	0.000006017	+0.283%	$46K	$58K	25x	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000006021	+0.350%	$160K	$608K	10x	as long as short
Aster 1000SHIBUSDTshort	+0.0100%	8h	0.000006017	+0.289%	$40K	$321K	50x

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kSHIB	+0.0100%	1h	0.000006020	+0.333%	$12K	$5K	10x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000006017	+0.286%	$29.6M	$104.3M	75x	as long as short
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000006015	+0.250%	$9.4M	$36.9M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000006012	+0.200%	$7.0M	$5.9M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000006013	+0.217%	$30.1M	$17.8M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000006013	+0.217%	$4.8M	$2.7M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000006015	+0.250%	$11.4M	$14.6M	75x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000006019	+0.317%	$7K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000006026	+0.433%	$2K	$24K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000006019	+0.317%	$477	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000006021	+0.350%	$411K	$557K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000006022	+0.367%	$2.1M	$6.9M	50x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000006012	+0.203%	$53K	$4K	25x	as long as short
Paradex kSHIB-USD-PERP	+0.0119%	8h	0.000006023	+0.390%	$7K	$13	20x	as long as short
Hyperliquid kSHIB	+0.0134%	1h	0.000006027	+0.450%	$3.6M	$4.8M	10x	as long as short
Backpack kSHIB_USDC_PERP	+0.0141%	1h	0.000006020	+0.333%	$23K	$7K	15x	as long as short
GMX SHIB/USD [ETH-USDC]long	L +0.0213% / S −0.2404%	1h	0.000006000	long leg	$1K	—	100x
BloFin SHIB-USDT	+0.0220%	8h	0.000006030	+0.500%	$871K	$896K	50x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000006017	+0.288%	$1	—	20x	as long as short