Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0229%/8h= −25.0% APRpaid last 24h −0.029%

Price spread now: Coinbase International against Paradex+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 Paradex Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Coinbase International is 0.049% dearer against Paradex 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 −$7 a day in funding at the current rate, which eats that in about 17 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex kSHIB-USD-PERP	0.000005998	0.0101	pay 0.0101% / 8h	2h 48m	$7K	$13	20x
Short	Coinbase International 1000SHIB-PERP-INTX	0.000006001	−0.0128	pay 0.0016% / 1h	48m 28s	$117K	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Paradex. 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 ParadexbpFee Coinbase InternationalbpOrdersPrice spread, now +0.049%Rate

Funding earned: −$48.01
Price spread: +0.049% → 0.000%: $4.85
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$57.16
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Coinbase International: live order book, 5 min ago. 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 Paradex no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 5 min ago	5.84 bp	10.8 bp −$11	17.5 bp −$175	doesn't fit	doesn't fit

Paradex: 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	−0.0596%	1h	0.000005979	−0.318%	$1.1M	$1.0M	50x	as long as short
Coinbase International 1000SHIB-PERP-INTXshort	−0.0128%	1h	0.000006001	+0.049%	$117K	$1.5M	50x
dYdX SHIB-USD	0.0000%	1h	0.000005991	−0.120%	$23K	$56K	10x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000005976	−0.365%	$110K	$3.2M	2x	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	0.0000%	1h	0.000005984	−0.235%	$46K	$65K	25x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S 0.0000%	1h	0.000005995	−0.058%	$566	—	150x	as long as short
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	+0.699%	$248	$134K	5.5x	as long as short
BingX 1000SHIB-USDT	+0.0070%	8h	0.000005995	−0.052%	—	$2.3M	—	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000005995	−0.052%	$158K	$630K	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000005995	−0.052%	$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	0.000005995	−0.052%	$12K	$5K	10x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000005998	−0.005%	$30.4M	$122.0M	75x	as long as short
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000005993	−0.085%	$9.5M	$41.4M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000005991	−0.118%	$7.1M	$7.1M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000005995	−0.052%	$28.7M	$19.1M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000005994	−0.068%	$4.6M	$3.1M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000005994	−0.068%	$11.3M	$16.9M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000005983	−0.252%	$23K	$7K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000005984	−0.235%	$6K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000005991	−0.118%	$2K	$26K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000005981	−0.285%	$496	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000005990	−0.135%	$408K	$586K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000005990	−0.135%	$2.1M	$7.3M	50x	as long as short
Paradex kSHIB-USD-PERPlong	+0.0101%	8h	0.000005998	long leg	$7K	$13	20x
Extended 1000SHIB-USD	+0.0104%	1h	0.000005993	−0.087%	$53K	$4K	25x	as long as short
Hyperliquid kSHIB	+0.0142%	1h	0.000005999	+0.015%	$3.6M	$5.3M	10x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0213% / S −0.2404%	1h	0.000005000	−16.640%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000005982	−0.268%	$917K	$914K	50x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000005992	−0.109%	$1	—	20x	as long as short