SHIB

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC−0.0030%/8h= −3.3% APRnext payment −$0.30 per $10,000 · paid last 24h −0.007%

Price spread now: BingX against Phemex0.000%7-day average −0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$660.658% of the position

Long on Phemex Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.112%−$11 on $10k

Price spread, last 4 days (all we have)−0.082%−$8 · spread now 0.000%, 7d avg −0.048%

Together, before fees−0.194%−$19 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.048% dearer against Phemex than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.048%): +$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 5.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex u1000SHIBUSDT	0.000005964	0.0100	pay 0.0100% / 8h	7h 24m	$2.1M	$7.7M	50x
Short	BingX 1000SHIB-USDC	0.000005964	0.0070	get 0.0070% / 8h	7h 24m	—	$1.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Phemex. 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 PhemexbpFee BingXbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$6.3
Price spread: 0.000% → −0.048%: $4.82
Slippage, 4 orders: −$43.8
Fee Phemex: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$67.28
Costs to cover: 0.658%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; BingX: live order book, 8 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 Phemex live order book, 5 min ago	7.60 bp	16.0 bp −$16	54.6 bp −$546	doesn't fit	doesn't fit
Sell BingX live order book, 8 min ago	3.38 bp	16.3 bp −$16	43.6 bp −$436	194.7 bp −$19.5K	893.4 bp −$446.7K

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	−0.0024%	1h	0.000005980	+0.268%	$129K	$1.7M	50x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000005947	−0.285%	$154K	$3.2M	2x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S 0.0000%	1h	0.000005945	−0.312%	$561	—	150x	as long as short
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	+1.274%	$248	$134K	5.5x	as long as short
Gate SHIB_USDT	+0.0056%	8h	0.000005961	−0.050%	$7.0M	$7.0M	75x	as long as short
BingX 1000SHIB-USDCshort	+0.0070%	8h	0.000005964	0.000%	—	$1.6M	—
Lighter 1000SHIB	+0.0096%	1h	0.000005967	+0.050%	$155K	$643K	10x	as long as short
Hyperliquid kSHIB	+0.0100%	1h	0.000005970	+0.101%	$3.6M	$5.5M	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000005962	−0.028%	$41K	$298K	50x	as long as short
Pacifica kSHIB	+0.0100%	1h	0.000005953	−0.184%	$12K	$6K	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000SHIBUSDT	+0.0100%	8h	0.000005966	+0.027%	$30.4M	$128.3M	75x	as long as short
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000005961	−0.050%	$8.8M	$44.8M	50x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000005959	−0.084%	$28.1M	$20.2M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000005963	−0.017%	$4.6M	$3.2M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000005962	−0.034%	$11.3M	$17.3M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000005966	+0.034%	$23K	$9K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000005966	+0.034%	$6K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000005976	+0.201%	$2K	$26K	20x	as long as short
SoDEX 1000SHIB-USD	+0.0100%	1h	0.000005965	+0.017%	$508	$5K	10x	as long as short
HTX SHIB-USDT	+0.0100%	8h	0.000005958	−0.101%	$410K	$570K	75x	as long as short
Phemex u1000SHIBUSDTlong	+0.0100%	8h	0.000005964	long leg	$2.1M	$7.7M	50x
Kraken Futures PF_SHIBUSD	+0.0100%	1h	0.000005963	−0.025%	$1.2M	$1.0M	50x	as long as short
Paradex kSHIB-USD-PERP	+0.0101%	8h	0.000005954	−0.166%	$7K	$13	20x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000005961	−0.052%	$53K	$4K	25x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0212% / S −0.2404%	1h	0.000005000	−16.164%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000005945	−0.319%	$852K	$926K	50x	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	+0.0253%	1h	0.000005967	+0.050%	$53K	$55K	25x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000005962	−0.042%	$1	—	20x	as long as short
dYdX SHIB-USD	+0.9956%	1h	0.000005949	−0.254%	$31K	$87K	10x	as long as short