Funding you earn now, next payment 02:00 UTC−0.0667%/8h= −73.1% APRpaid last 24h +0.040%
Price spread now: OKX against Kraken Futures+0.398%7-day average −0.023% · you sell dearer than you buy
Net, funding: paid 7d − costs−$49as in the Funding arb table
Net, price: spread back to 7d avg − costs−$16as in the Price arb table
costs, in and out, $10k−$580.585% of the position
Funding, last 7 days+0.093%+$9 on $10k
+Price spread, last 3 days (all we have)−0.392%−$39 · spread now +0.398%, 7d avg −0.023%
=The price spread pays, funding is against you. OKX is 0.420% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.398% now, against its 7-day average of −0.023%): +$42 on $10k if it goes back. Holding the pair costs −$20 a day in funding at the current rate, which eats that in about 2.1 days. Mind the row above: over the last 7 days funding on this pair paid +0.093%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.093% in total (about 4.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_SHIBUSD | 0.000005936 | 0.0767 | pay 0.0096% / 1h | 37m 59s | $1.1M | $860K | 50x |
| Short | OKX SHIB-USDT-SWAP | 0.000005960 | 0.0100 | get 0.0100% / 8h | 6h 37m | $8.9M | $35.4M | 50x |
Kraken Futures PF_SHIBUSD
OKX SHIB-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- −$140.12
- Price spread: +0.398% → −0.023%
- $42.05
- Slippage, 4 orders
- −$38.47
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$156.55
- Costs to cover
- 0.585%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, just now; OKX: live order book, 1 min ago.
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, just now | 4.20 bp | 14.2 bp −$14 | 29.6 bp −$296 | doesn't fit | doesn't fit |
| Sell OKX live order book, 1 min ago | 0.84 bp | 12.3 bp −$12 | 29.2 bp −$292 | doesn't fit | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX SHIB-USD | 0.0000% | 1h | 0.000005950 | +0.229% | $23K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000005952 | +0.256% | $187K | $2.3M | 2x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | 0.0000% | 1h | 0.000005939 | +0.044% | $45K | $65K | 25x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S −0.0001% | 1h | 0.000005945 | +0.138% | $723 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | +1.745% | $248 | $134K | 5.5x | as long as short |
| Coinbase International 1000SHIB-PERP-INTX | +0.0072% | 1h | 0.000005947 | +0.179% | $149K | $1.0M | 50x | as long as short |
| BingX 1000SHIB-USDC | +0.0080% | 8h | 0.000005955 | +0.313% | — | $1.6M | — | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000005943 | +0.111% | $161K | $609K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000005937 | +0.007% | $39K | $183K | 50x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000005956 | +0.335% | $29.1M | $101.8M | 75x | as long as short |
dYdX SHIB-USD
Kalshi KXKSHIBPERP
Deribit 1000SHIB_USDC-PERPETUAL
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
Coinbase International 1000SHIB-PERP-INTX
BingX 1000SHIB-USDC
Lighter 1000SHIB
Aster 1000SHIBUSDT
Binance 1000SHIBUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX SHIB-USDT-SWAPshort | +0.0100% | 8h | 0.000005960 | +0.398% | $8.9M | $35.4M | 50x | |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000005949 | +0.212% | $6.9M | $5.7M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000005950 | +0.229% | $30.6M | $17.4M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000005951 | +0.246% | $4.9M | $2.7M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000005951 | +0.246% | $11.2M | $14.3M | 75x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0100% | 1h | 0.000005947 | +0.179% | $23K | $7K | 15x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000005945 | +0.145% | $6K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000005954 | +0.297% | $2K | $24K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000005940 | +0.061% | $520 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000005944 | +0.128% | $407K | $608K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000005941 | +0.078% | $2.1M | $6.6M | 50x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000005951 | +0.243% | $53K | $4K | 25x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0124% | 8h | 0.000005953 | +0.279% | $7K | $13 | 20x | as long as short |
| Hyperliquid kSHIB | +0.0165% | 1h | 0.000005953 | +0.280% | $3.6M | $4.7M | 10x | as long as short |
| Pacifica kSHIB | +0.0183% | 1h | 0.000005953 | +0.280% | $12K | $4K | 10x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000005000 | −15.774% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006010 | +1.240% | $871K | $935K | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000005954 | +0.298% | $1 | — | 20x | as long as short |
| Kraken Futures PF_SHIBUSDlong | +0.0767% | 1h | 0.000005936 | long leg | $1.1M | $860K | 50x |
Gate SHIB_USDT
MEXC SHIB_USDT
KuCoin SHIBUSDTM
Bitget SHIBUSDT
Backpack kSHIB_USDC_PERP
Orderly PERP_1000SHIB_USDC
SunX SHIB-USDT
SoDEX 1000SHIB-USD
HTX SHIB-USDT
Phemex u1000SHIBUSDT
Extended 1000SHIB-USD
Paradex kSHIB-USD-PERP
Hyperliquid kSHIB
Pacifica kSHIB
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Reya kSHIBRUSDPERP