SHIB

Alert

Spread before costs (cost unknown: a leg has no order-book sample)+18.560%

7d average—if it closes, per $10,000$1856funding while held, a day+$7.45

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX SHIB/USD [ETH-USDC]	0.000005000	L +0.0213% / S −0.2404%	pay 0.0027% / 1h	34m 23s	$1K	—	100x
Short	Hyperliquid kSHIB	0.000005928	0.0462	get 0.0058% / 1h	34m 23s	$4.3M	$3.6M	10x

Price spread history

latest

Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Position, each leg$Hold forhoursFee GMXbpFee HyperliquidbpOrdersClose when spread is

Spread captured: $1,856
Funding while held: $7.45
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $1,842.45
Spread needed to break even: 0.210%

Slippage unknown: GMX: no order-book sample; Hyperliquid: live order book, 9 min ago. Net counts fees only.

Cost of waiting

funding view

Funding /8h: +0.0248%
Per $10,000 a day: +$7.45
Average in range /8h: —

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 Hyperliquid live order book, 9 min ago	2.53 bp	11.4 bp −$11	19.3 bp −$193	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 price on every exchange

against the cheapest. Click to use as the short leg.

GMX0.000005000cheapest

Injective0.000005767+15.340%

Coinbase International0.000005911+18.220%

MEXC0.000005914+18.280%

OKX0.000005915+18.300%

Extended0.000005915+18.304%

BingX0.000005916+18.320%

Reya0.000005917+18.332%

Orderly0.000005917+18.340%

SoDEX0.000005917+18.340%

Binance0.000005918+18.355%

gTrade (Gains Network)0.000005919+18.378%

Deribit0.000005919+18.380%

Gate0.000005919+18.380%

KuCoin0.000005920+18.400%

Bitget0.000005920+18.400%

Phemex0.000005920+18.400%

Kraken Futures0.000005920+18.408%

HTX0.000005921+18.420%

Aster0.000005922+18.432%

Lighter0.000005925+18.500%

Paradex0.000005927+18.533%

Pacifica0.000005927+18.540%

dYdX0.000005927+18.547%

Hyperliquid0.000005928+18.560%

BloFin0.000005929+18.580%

Backpack0.000005931+18.620%

Kalshi0.000005932+18.634%

SunX0.000005934+18.680%

SHIB on 29 venues

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
GMX SHIB/USD [ETH-USDC]long	0.000%	L +0.0213% / S −0.2404%	1h	$1K	—	100x
Injective SHIB/USDC PERP	+15.340%	+0.0033%	1h	$236	$53K	5.5x	as long as short
Coinbase International 1000SHIB-PERP-INTX	+18.220%	−0.0048%	1h	$86K	$759K	50x	as long as short
MEXC SHIB_USDT	+18.280%	+0.0100%	8h	$33.5M	$14.7M	300x	as long as short
OKX SHIB-USDT-SWAP	+18.300%	+0.0100%	8h	$7.8M	$26.1M	50x	as long as short
Extended 1000SHIB-USD	+18.304%	+0.0104%	1h	$52K	$6K	25x	as long as short
BingX 1000SHIB-USDT	+18.320%	−0.0005%	8h	—	$2.2M	—	as long as short
Reya kSHIBRUSDPERP	+18.332%	+0.0323%	1h	$1	—	20x	as long as short
Orderly PERP_1000SHIB_USDC	+18.340%	+0.0100%	8h	$6K	$1K	20x	as long as short
SoDEX 1000SHIB-USD	+18.340%	+0.0100%	1h	$552	$5K	10x	as long as short

Show all 29 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Binance 1000SHIBUSDT	+18.355%	+0.0100%	8h	$28.6M	$79.2M	75x	as long as short
gTrade (Gains Network) SHIB/USD	+18.378%	L +0.0006% / S −0.0006%	1h	$15K	—	150x	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	+18.380%	+0.0088%	1h	$42K	$64K	25x	as long as short
Gate SHIB_USDT	+18.380%	+0.0100%	8h	$6.7M	$5.1M	75x	as long as short
KuCoin SHIBUSDTM	+18.400%	+0.0100%	8h	$4.7M	$2.4M	75x	as long as short
Bitget SHIBUSDT	+18.400%	+0.0100%	8h	$11.5M	$11.4M	75x	as long as short
Phemex u1000SHIBUSDT	+18.400%	+0.0100%	8h	$2.1M	$4.7M	50x	as long as short
Kraken Futures PF_SHIBUSD	+18.408%	+0.0042%	1h	$1.1M	$734K	50x	as long as short
HTX SHIB-USDT	+18.420%	+0.0100%	8h	$397K	$703K	75x	as long as short
Aster 1000SHIBUSDT	+18.432%	+0.0100%	8h	$40K	$161K	50x	as long as short
Lighter 1000SHIB	+18.500%	+0.0096%	1h	$151K	$305K	10x	as long as short
Paradex kSHIB-USD-PERP	+18.533%	+0.0099%	8h	$7K	—	20x	as long as short
Pacifica kSHIB	+18.540%	+0.0100%	1h	$11K	$4K	10x	as long as short
dYdX SHIB-USD	+18.547%	+0.3580%	1h	$23K	$66K	10x	as long as short
Hyperliquid kSHIBshort	+18.560%	+0.0462%	1h	$4.3M	$3.6M	10x
BloFin SHIB-USDT	+18.580%	+0.0220%	8h	$745K	$920K	50x	as long as short
Backpack kSHIB_USDC_PERP	+18.620%	+0.0100%	1h	$27K	$4K	15x	as long as short
Kalshi KXKSHIBPERP	+18.634%	0.0000%	8h	$106K	$1.5M	2x	as long as short
SunX SHIB-USDT	+18.680%	+0.0100%	8h	$2K	$22K	20x	as long as short