Funding you earn now, next payment 03:00 UTC+0.0393%/8h= +43.1% APRnext payment +$0.49 per $10,000 · paid last 24h +0.040%
Price spread now: Backpack against Kraken Futures+0.213%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 5 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
Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Backpack is 0.213% dearer against Kraken Futures than usual: you sell high and buy low: +$21 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_SHIBUSD | 0.000005981 | −0.0293 | get 0.0037% / 1h | 56m 40s | $1.1M | $888K | 50x |
| Short | Backpack kSHIB_USDC_PERP | 0.000005994 | 0.0100 | get 0.0013% / 1h | 56m 40s | $23K | $7K | 15x |
Kraken Futures PF_SHIBUSD
Backpack kSHIB_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Kraken Futures. 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
- $82.61
- Price spread: +0.213% → 0.000%
- $21.32
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $83.93
- Costs to cover
- 0.200%
- Break-even
- from the start
Slippage unknown: Kraken Futures: live order book, 2 min ago; Backpack: 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 Kraken Futures live order book, 2 min ago | 8.34 bp | 16.6 bp −$17 | 23.8 bp −$238 | doesn't fit | doesn't fit |
| Sell Backpack no order-book sample | — | — | — | — | — |
Backpack: 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 28 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_SHIBUSDlong | −0.0293% | 1h | 0.000005981 | long leg | $1.1M | $888K | 50x | |
| Coinbase International 1000SHIB-PERP-INTX | −0.0032% | 1h | 0.000006021 | +0.665% | $135K | $1.1M | 50x | as long as short |
| dYdX SHIB-USD | 0.0000% | 1h | 0.000006029 | +0.798% | $23K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000005985 | +0.061% | $192K | $2.3M | 2x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000005985 | +0.058% | $565 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | +0.982% | $248 | $134K | 5.5x | as long as short |
| BingX 1000SHIB-USDT | +0.0080% | 8h | 0.000006044 | +1.049% | — | $2.1M | — | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | +0.0084% | 1h | 0.000005986 | +0.079% | $46K | $64K | 25x | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006033 | +0.865% | $162K | $610K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006001 | +0.335% | $51K | $315K | 50x | as long as short |
Coinbase International 1000SHIB-PERP-INTX
dYdX SHIB-USD
Kalshi KXKSHIBPERP
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
BingX 1000SHIB-USDT
Deribit 1000SHIB_USDC-PERPETUAL
Lighter 1000SHIB
Aster 1000SHIBUSDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006033 | +0.872% | $29.5M | $101.9M | 75x | as long as short |
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000006047 | +1.099% | $9.3M | $36.2M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006036 | +0.915% | $7.0M | $5.7M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006041 | +0.999% | $30.1M | $17.3M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006019 | +0.631% | $4.9M | $2.7M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006045 | +1.066% | $11.3M | $14.2M | 75x | as long as short |
| Backpack kSHIB_USDC_PERPshort | +0.0100% | 1h | 0.000005994 | +0.213% | $23K | $7K | 15x | |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000005985 | +0.063% | $6K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000005996 | +0.247% | $2K | $24K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000005986 | +0.079% | $512 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000005984 | +0.046% | $409K | $582K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000005984 | +0.046% | $2.1M | $6.6M | 50x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006043 | +1.033% | $53K | $4K | 25x | as long as short |
| Hyperliquid kSHIB | +0.0108% | 1h | 0.000006027 | +0.765% | $3.6M | $4.7M | 10x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0113% | 8h | 0.000006046 | +1.075% | $7K | $13 | 20x | as long as short |
| Pacifica kSHIB | +0.0135% | 1h | 0.000006030 | +0.815% | $12K | $4K | 10x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000005000 | −16.405% | $1K | — | 100x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000005982 | +0.018% | $1 | — | 20x | as long as short |
Binance 1000SHIBUSDT
OKX SHIB-USDT-SWAP
Gate SHIB_USDT
MEXC SHIB_USDT
KuCoin SHIBUSDTM
Bitget SHIBUSDT
Orderly PERP_1000SHIB_USDC
SunX SHIB-USDT
SoDEX 1000SHIB-USD
HTX SHIB-USDT
Phemex u1000SHIBUSDT
Extended 1000SHIB-USD
Hyperliquid kSHIB
Paradex kSHIB-USD-PERP
Pacifica kSHIB
GMX SHIB/USD [ETH-USDC]
Reya kSHIBRUSDPERP