Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.029%

Price spread now: Kraken Futures against KuCoin−0.022%7-day average +0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$730.734% of the position

Long on KuCoin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.111%−$11 on $10k

Price spread, last 4 days (all we have)+0.023%+$2 · spread now −0.022%, 7d avg +0.008%

Together, before fees−0.088%−$9 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.030% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.022% now, against its 7-day average of +0.008%). If the spread goes back, that is −$3 on $10k: about 24 hours of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.111%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SHIBUSDTM	0.000006010	0.0100	pay 0.0100% / 8h	34m 14s	$4.7M	$3.2M	75x
Short	Kraken Futures PF_SHIBUSD	0.000006009	0.0200	get 0.0025% / 1h	34m 14s	$1.2M	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.022%Rate

Funding earned: $20.92
Price spread: −0.022% → +0.008%: −$3.01
Slippage, 4 orders: −$51.37
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$55.47
Costs to cover: 0.734%
Break-even: 25.6 days

Slippage from KuCoin: live order book, 3 min ago; Kraken Futures: live order book, 4 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 KuCoin live order book, 3 min ago	2.50 bp	17.6 bp −$18	54.0 bp −$540	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 4 min ago	3.33 bp	19.2 bp −$19	28.9 bp −$289	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
Coinbase International 1000SHIB-PERP-INTX	−0.0016%	1h	0.000006002	−0.133%	$129K	$1.6M	50x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000006009	−0.023%	$119K	$3.2M	2x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S 0.0000%	1h	0.000006011	+0.015%	$567	—	150x	as long as short
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	+0.499%	$248	$134K	5.5x	as long as short
BingX 1000SHIB-USDT	+0.0070%	8h	0.000006011	+0.017%	—	$2.3M	—	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000006013	+0.050%	$156K	$640K	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000006010	−0.003%	$41K	$305K	50x	as long as short
Pacifica kSHIB	+0.0100%	1h	0.000006000	−0.166%	$12K	$6K	10x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000006010	−0.003%	$30.4M	$127.5M	75x	as long as short
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000006004	−0.100%	$9.2M	$43.3M	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate SHIB_USDT	+0.0100%	8h	0.000006010	0.000%	$7.1M	$7.3M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000006009	−0.017%	$29.0M	$20.1M	300x	as long as short
KuCoin SHIBUSDTMlong	+0.0100%	8h	0.000006010	long leg	$4.7M	$3.2M	75x
Bitget SHIBUSDT	+0.0100%	8h	0.000006011	+0.017%	$11.4M	$17.1M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000006004	−0.100%	$23K	$8K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000006013	+0.050%	$7K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000006010	0.000%	$2K	$27K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000006011	+0.017%	$515	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000006010	0.000%	$409K	$576K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000006013	+0.050%	$2.1M	$7.6M	50x	as long as short
Paradex kSHIB-USD-PERP	+0.0103%	8h	0.000006004	−0.106%	$7K	$13	20x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000006009	−0.019%	$53K	$4K	25x	as long as short
Kraken Futures PF_SHIBUSDshort	+0.0200%	1h	0.000006009	−0.022%	$1.2M	$1.0M	50x
GMX SHIB/USD [ETH-USDC]	L +0.0212% / S −0.2404%	1h	0.000006000	−0.166%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000006001	−0.150%	$867K	$935K	50x	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	+0.0249%	1h	0.000006016	+0.100%	$50K	$59K	25x	as long as short
Hyperliquid kSHIB	+0.0281%	1h	0.000006019	+0.150%	$3.6M	$5.5M	10x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000006009	−0.011%	$1	—	20x	as long as short
dYdX SHIB-USD	+0.2001%	1h	0.000006001	−0.153%	$35K	$70K	10x	as long as short