SHIB

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After costs, if the gap returns to its 7d average, $10k−$40

spread now+0.214%7d average+0.155%fees + slippage, in and out−$46spread needed0.462%

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXKSHIBPERP	0.000005948	0	get 0.0000% / 8h	2h 19m	$103K	$1.4M	2x
Short	Hyperliquid kSHIB	0.000005961	0.0507	get 0.0063% / 1h	19m 13s	$4.3M	$3.6M	10x

Price spread history

latest

Range statsloading…

share of time at each level, last 7D

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

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

Slippage from Kalshi: live order book, 1 min ago; Hyperliquid: live order book, 4 min ago.

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Kalshi live order book, 1 min ago	7.64 bp	13.6 bp −$14	22.7 bp −$227	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 4 min ago	0.84 bp	6.9 bp −$7	15.8 bp −$158	doesn't fit	doesn't fit

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

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
GMX SHIB/USD [ETH-USDC]	−15.942%	L +0.0214% / S −0.2404%	1h	$1K	—	100x	as long as short
Injective SHIB/USDC PERP	−3.048%	+0.0033%	1h	$236	$53K	5.5x	as long as short
OKX SHIB-USDT-SWAP	−0.072%	+0.0100%	8h	$7.8M	$26.2M	50x	as long as short
Lighter 1000SHIB	−0.039%	+0.0096%	1h	$152K	$306K	10x	as long as short
BloFin SHIB-USDT	−0.039%	+0.0220%	8h	$740K	$932K	50x	as long as short
Extended 1000SHIB-USD	−0.035%	+0.0104%	1h	$53K	$4K	25x	as long as short
KuCoin SHIBUSDTM	−0.022%	+0.0100%	8h	$4.7M	$2.3M	75x	as long as short
Gate SHIB_USDT	−0.005%	+0.0100%	8h	$6.7M	$5.2M	75x	as long as short
Bitget SHIBUSDT	−0.005%	+0.0100%	8h	$11.5M	$11.3M	75x	as long as short
BingX 1000SHIB-USDT	−0.005%	+0.0011%	8h	—	$2.1M	—	as long as short

Show all 29 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
SoDEX 1000SHIB-USD	−0.005%	+0.0100%	1h	$572	$5K	10x	as long as short
Kalshi KXKSHIBPERPlong	0.000%	0.0000%	8h	$103K	$1.4M	2x
dYdX SHIB-USD	+0.002%	+0.2848%	1h	$23K	$66K	10x	as long as short
Pacifica kSHIB	+0.012%	+0.0100%	1h	$11K	$4K	10x	as long as short
MEXC SHIB_USDT	+0.012%	+0.0100%	8h	$34.1M	$14.9M	300x	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	+0.012%	+0.0086%	1h	$42K	$64K	25x	as long as short
Aster 1000SHIBUSDT	+0.018%	+0.0100%	8h	$40K	$161K	50x	as long as short
gTrade (Gains Network) SHIB/USD	+0.022%	L +0.0006% / S −0.0006%	1h	$15K	—	150x	as long as short
Reya kSHIBRUSDPERP	+0.028%	+0.0323%	1h	$1	—	20x	as long as short
Phemex u1000SHIBUSDT	+0.029%	+0.0100%	8h	$2.1M	$4.7M	50x	as long as short
Kraken Futures PF_SHIBUSD	+0.030%	+0.0042%	1h	$1.1M	$735K	50x	as long as short
Orderly PERP_1000SHIB_USDC	+0.045%	+0.0100%	8h	$6K	$1K	20x	as long as short
HTX SHIB-USDT	+0.045%	+0.0100%	8h	$399K	$703K	75x	as long as short
Binance 1000SHIBUSDT	+0.076%	+0.0100%	8h	$28.8M	$79.5M	75x	as long as short
SunX SHIB-USDT	+0.163%	+0.0100%	8h	$2K	$22K	20x	as long as short
Paradex kSHIB-USD-PERP	+0.168%	+0.0099%	8h	$7K	—	20x	as long as short
Hyperliquid kSHIBshort	+0.214%	+0.0507%	1h	$4.3M	$3.6M	10x
Backpack kSHIB_USDC_PERP	+0.247%	+0.0100%	1h	$27K	$4K	15x	as long as short
Coinbase International 1000SHIB-PERP-INTX	+0.298%	−0.0048%	1h	$87K	$761K	50x	as long as short