Funding you earn now, next payment 06:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.029%
Price spread now: Kalshi against Lighter−0.178%7-day average −0.036% · you buy dearer than you sell
Net, funding: paid 7d − costs−$46as in the Funding arb table
Net, price: spread back to 7d avg − costs−$60as in the Price arb table
costs, in and out, $10k−$460.456% of the position
Funding, last 7 days−0.005%−$1 on $10k
+Price spread, last 4 days (all we have)+0.112%+$11 · spread now −0.178%, 7d avg −0.036%
=Together, before fees+0.107%+ Points / potential airdropLighter: Season 3 · farm board+$11 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Kalshi is 0.143% cheaper against Lighter than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of −0.036%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter 1000SHIB | 0.000006052 | 0.0096 | pay 0.0012% / 1h | 10m 55s | $159K | $636K | 10x |
| Short | Kalshi KXKSHIBPERP | 0.000006041 | 0 | get 0.0000% / 8h | 6h 10m | $110K | $3.2M | 2x |
Lighter 1000SHIB
Kalshi KXKSHIBPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kalshi against Lighter. 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
- −$20.16
- Price spread: −0.178% → −0.036%
- −$14.28
- Slippage, 4 orders
- −$35.55
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Net
- −$79.99
- Costs to cover
- 0.456%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 20 min ago; Kalshi: live order book, 2 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 Lighter live order book, 20 min ago | 3.35 bp | 8.2 bp −$8 | 65.7 bp −$657 | doesn't fit | doesn't fit |
| Sell Kalshi live order book, 2 min ago | 6.55 bp | 14.5 bp −$15 | 23.5 bp −$235 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_SHIBUSD | −0.0589% | 1h | 0.000006046 | −0.097% | $1.2M | $1.0M | 50x | as long as short |
| Coinbase International 1000SHIB-PERP-INTX | −0.0128% | 1h | 0.000005947 | −1.735% | $116K | $1.5M | 50x | as long as short |
| dYdX SHIB-USD | 0.0000% | 1h | 0.000006033 | −0.317% | $24K | $56K | 10x | as long as short |
| Kalshi KXKSHIBPERPshort | 0.0000% | 8h | 0.000006041 | −0.178% | $110K | $3.2M | 2x | |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000006046 | −0.102% | $571 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | −0.198% | $248 | $134K | 5.5x | as long as short |
| BingX 1000SHIB-USDC | +0.0070% | 8h | 0.000006053 | +0.017% | — | $1.6M | — | as long as short |
| Lighter 1000SHIBlong | +0.0096% | 1h | 0.000006052 | long leg | $159K | $636K | 10x | |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006048 | −0.059% | $41K | $336K | 50x | as long as short |
| Pacifica kSHIB | +0.0100% | 1h | 0.000006035 | −0.281% | $12K | $5K | 10x | as long as short |
Kraken Futures PF_SHIBUSD
Coinbase International 1000SHIB-PERP-INTX
dYdX SHIB-USD
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
BingX 1000SHIB-USDC
Aster 1000SHIBUSDT
Pacifica kSHIBShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006054 | +0.033% | $30.6M | $124.7M | 75x | as long as short |
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000006049 | −0.050% | $9.3M | $43.1M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006045 | −0.116% | $7.1M | $7.4M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006056 | +0.066% | $28.5M | $19.3M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006050 | −0.033% | $4.7M | $3.2M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006050 | −0.033% | $11.4M | $17.1M | 75x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0100% | 1h | 0.000006052 | 0.000% | $23K | $7K | 15x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006049 | −0.050% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006059 | +0.116% | $2K | $27K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006048 | −0.066% | $518 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006050 | −0.033% | $412K | $572K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000006040 | −0.198% | $2.1M | $7.5M | 50x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0102% | 8h | 0.000006038 | −0.233% | $7K | $13 | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006047 | −0.078% | $53K | $4K | 25x | as long as short |
| Hyperliquid kSHIB | +0.0191% | 1h | 0.000006056 | +0.066% | $3.6M | $5.3M | 10x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0212% / S −0.2404% | 1h | 0.000006000 | −0.859% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006045 | −0.116% | $868K | $933K | 50x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | +0.0246% | 1h | 0.000006048 | −0.066% | $47K | $65K | 25x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006047 | −0.091% | $1 | — | 20x | as long as short |
Binance 1000SHIBUSDT
OKX SHIB-USDT-SWAP
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
Paradex kSHIB-USD-PERP
Extended 1000SHIB-USD
Hyperliquid kSHIB
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Deribit 1000SHIB_USDC-PERPETUAL
Reya kSHIBRUSDPERP