Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0100%/8h= −11.0% APRpaid last 24h −0.029%

Price spread now: gTrade (Gains Network) against OKX+0.030%7-day average — · you sell dearer than you buy

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

Long on OKX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 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

The price spread pays, funding is against you. gTrade (Gains Network) is 0.030% dearer against OKX than usual: you sell high and buy low (spread +0.030% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 24 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SHIB-USDT-SWAP	0.000006001	0.0100	pay 0.0100% / 8h	1h 14m	$9.1M	$43.1M	50x
Short	gTrade (Gains Network) SHIB/USD	0.000006003	L +0.0006% / S 0.0000%	pay 0.0000% / 1h	14m 46s	$567	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against OKX. 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 OKXbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.030%Rate

Funding earned: −$21.08
Price spread: +0.030% → 0.000%: $3
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$38.08
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 4 min ago; gTrade (Gains Network): 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 OKX live order book, 4 min ago	0.83 bp	9.9 bp −$10	20.6 bp −$206	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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
Kraken Futures PF_SHIBUSD	−0.0374%	1h	0.000006006	+0.079%	$1.1M	$1.0M	50x	as long as short
Coinbase International 1000SHIB-PERP-INTX	−0.0088%	1h	0.000006016	+0.250%	$117K	$1.6M	50x	as long as short
dYdX SHIB-USD	0.0000%	1h	0.000006006	+0.083%	$23K	$56K	10x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000006006	+0.085%	$106K	$3.3M	2x	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	0.0000%	1h	0.000006007	+0.100%	$47K	$62K	25x	as long as short
gTrade (Gains Network) SHIB/USDshort	L +0.0006% / S 0.0000%	1h	0.000006003	+0.030%	$567	—	150x
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	+0.650%	$248	$134K	5.5x	as long as short
BingX 1000SHIB-USDT	+0.0065%	8h	0.000006006	+0.083%	—	$2.3M	—	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000006009	+0.133%	$156K	$641K	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000006008	+0.119%	$41K	$336K	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kSHIB	+0.0100%	1h	0.000006008	+0.117%	$12K	$5K	10x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000006008	+0.120%	$30.1M	$127.3M	75x	as long as short
OKX SHIB-USDT-SWAPlong	+0.0100%	8h	0.000006001	long leg	$9.1M	$43.1M	50x
Gate SHIB_USDT	+0.0100%	8h	0.000006002	+0.017%	$7.1M	$7.4M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000006007	+0.100%	$27.9M	$19.7M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000006005	+0.067%	$4.7M	$3.2M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000006006	+0.083%	$11.3M	$17.2M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000006008	+0.117%	$23K	$8K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000006008	+0.117%	$7K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000006017	+0.267%	$2K	$27K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000006005	+0.067%	$508	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000006012	+0.183%	$410K	$575K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000006010	+0.150%	$2.1M	$7.7M	50x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000006001	−0.004%	$53K	$4K	25x	as long as short
Paradex kSHIB-USD-PERP	+0.0104%	8h	0.000006008	+0.116%	$7K	$13	20x	as long as short
Hyperliquid kSHIB	+0.0197%	1h	0.000006015	+0.233%	$3.6M	$5.4M	10x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0212% / S −0.2404%	1h	0.000006000	−0.017%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000006005	+0.067%	$858K	$933K	50x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000006003	+0.042%	$1	—	20x	as long as short