Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0021%/8h= −2.3% APRpaid last 24h −0.014%

Price spread now: Deribit against KuCoin+0.049%7-day average — · you sell dearer than you buy

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

Long on KuCoin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.043%−$4 on $10k

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Deribit is 0.049% dearer against KuCoin than usual: you sell high and buy low (spread +0.049% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 7.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SHIBUSDTM	0.000006076	0.0100	pay 0.0100% / 8h	41m 05s	$4.9M	$2.5M	75x
Short	Deribit 1000SHIB_USDC-PERPETUAL	0.000006079	0.0079	get 0.0010% / 1h	41m 05s	$47K	$65K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against KuCoin. 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 KuCoinbpFee DeribitbpOrdersPrice spread, now +0.049%Rate

Funding earned: −$4.39
Price spread: +0.049% → 0.000%: $4.94
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$18.45
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 2 min ago; Deribit: 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 KuCoin live order book, 2 min ago	1.65 bp	17.4 bp −$17	58.8 bp −$588	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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
dYdX SHIB-USD	0.0000%	1h	0.000006077	+0.016%	$23K	$64K	10x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000006078	+0.038%	$73K	$1.9M	2x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S −0.0001%	1h	0.000006079	+0.049%	$739	—	150x	as long as short
Coinbase International 1000SHIB-PERP-INTX	+0.0032%	1h	0.000006113	+0.609%	$81K	$791K	50x	as long as short
Deribit 1000SHIB_USDC-PERPETUALshort	+0.0079%	1h	0.000006079	+0.049%	$47K	$65K	25x
BingX 1000SHIB-USDC	+0.0080%	8h	0.000006076	0.000%	—	$1.6M	—	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000006078	+0.033%	$153K	$290K	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000006076	+0.002%	$35K	$175K	50x	as long as short
Pacifica kSHIB	+0.0100%	1h	0.000006079	+0.049%	$12K	$4K	10x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000006080	+0.073%	$29.9M	$94.9M	75x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000006081	+0.082%	$8.8M	$32.6M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000006076	0.000%	$7.0M	$5.6M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000006079	+0.049%	$30.6M	$16.3M	300x	as long as short
KuCoin SHIBUSDTMlong	+0.0100%	8h	0.000006076	long leg	$4.9M	$2.5M	75x
Bitget SHIBUSDT	+0.0100%	8h	0.000006079	+0.049%	$11.6M	$13.2M	75x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000006079	+0.049%	$7K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000006091	+0.247%	$2K	$24K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000006076	0.000%	$547	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000006079	+0.049%	$416K	$615K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000006080	+0.066%	$2.1M	$5.9M	50x	as long as short
Paradex kSHIB-USD-PERP	+0.0102%	8h	0.000006079	+0.058%	$7K	—	20x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000006073	−0.043%	$54K	$4K	25x	as long as short
Injective SHIB/USDC PERP	+0.0161%	1h	0.000006040	−0.592%	$248	$134K	5.5x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0213% / S −0.2404%	1h	0.000006000	−1.251%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000006081	+0.082%	$823K	$950K	50x	as long as short
Backpack kSHIB_USDC_PERP	+0.0229%	1h	0.000006081	+0.082%	$25K	$6K	15x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000006079	+0.057%	$1	—	20x	as long as short
Kraken Futures PF_SHIBUSD	+0.0379%	1h	0.000006078	+0.034%	$1.2M	$805K	50x	as long as short
Hyperliquid kSHIB	+0.0667%	1h	0.000006088	+0.197%	$4.4M	$4.0M	10x	as long as short