Funding you earn now, next payment 23:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.014%
Price spread now: Deribit against Phemex+0.033%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.048%−$5 on $10k
+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. Deribit is 0.033% dearer against Phemex than usual: you sell high and buy low (spread +0.033% 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 26 hours. At the pace of the last 7 days (−0.048% in total) that is about 4.8 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex u1000SHIBUSDT | 0.000006062 | 0.0100 | pay 0.0100% / 8h | 1h 05m | $2.1M | $5.8M | 50x |
| Short | Deribit 1000SHIB_USDC-PERPETUAL | 0.000006064 | 0 | get 0.0000% / 1h | 5m 24s | $46K | $65K | 25x |
Phemex u1000SHIBUSDT
Deribit 1000SHIB_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Phemex. 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
- −$21
- Price spread: +0.033% → 0.000%
- $3.3
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$36.7
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: Phemex: live order book, 3 min ago; Deribit: 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 Phemex live order book, 3 min ago | 4.12 bp | 18.0 bp −$18 | 54.8 bp −$548 | doesn't fit | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
Deribit: 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX SHIB-USD | 0.0000% | 1h | 0.000006060 | −0.033% | $23K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000006062 | +0.003% | $73K | $1.9M | 2x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUALshort | 0.0000% | 1h | 0.000006064 | +0.033% | $46K | $65K | 25x | |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S −0.0001% | 1h | 0.000006061 | −0.018% | $737 | — | 150x | as long as short |
| Coinbase International 1000SHIB-PERP-INTX | +0.0008% | 1h | 0.000006062 | 0.000% | $80K | $787K | 50x | as long as short |
| BingX 1000SHIB-USDT | +0.0080% | 8h | 0.000006064 | +0.033% | — | $2.1M | — | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006060 | −0.033% | $153K | $290K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006061 | −0.013% | $35K | $175K | 50x | as long as short |
| Pacifica kSHIB | +0.0100% | 1h | 0.000006061 | −0.016% | $12K | $4K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006066 | +0.072% | $29.8M | $93.9M | 75x | as long as short |
dYdX SHIB-USD
Kalshi KXKSHIBPERP
gTrade (Gains Network) SHIB/USD
Coinbase International 1000SHIB-PERP-INTX
BingX 1000SHIB-USDT
Lighter 1000SHIB
Aster 1000SHIBUSDT
Pacifica kSHIB
Binance 1000SHIBUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000006061 | −0.016% | $8.8M | $31.9M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006057 | −0.082% | $6.9M | $5.6M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006065 | +0.049% | $30.6M | $16.3M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006062 | 0.000% | $4.9M | $2.5M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006063 | +0.016% | $11.6M | $13.1M | 75x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0100% | 1h | 0.000006063 | +0.016% | $25K | $6K | 15x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006063 | +0.016% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006072 | +0.165% | $2K | $23K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006061 | −0.016% | $541 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006064 | +0.033% | $414K | $613K | 75x | as long as short |
| Phemex u1000SHIBUSDTlong | +0.0100% | 8h | 0.000006062 | long leg | $2.1M | $5.8M | 50x | |
| Paradex kSHIB-USD-PERP | +0.0103% | 8h | 0.000006065 | +0.045% | $7K | — | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006058 | −0.061% | $54K | $4K | 25x | as long as short |
| Injective SHIB/USDC PERP | +0.0141% | 1h | 0.000006040 | −0.363% | $248 | $134K | 5.5x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000006000 | −1.023% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006060 | −0.033% | $819K | $947K | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006060 | −0.026% | $1 | — | 20x | as long as short |
| Kraken Futures PF_SHIBUSD | +0.0357% | 1h | 0.000006064 | +0.030% | $1.2M | $800K | 50x | as long as short |
| Hyperliquid kSHIB | +0.0779% | 1h | 0.000006073 | +0.181% | $4.4M | $4.0M | 10x | as long as short |
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
Paradex kSHIB-USD-PERP
Extended 1000SHIB-USD
Injective SHIB/USDC PERP
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Reya kSHIBRUSDPERP
Kraken Futures PF_SHIBUSD
Hyperliquid kSHIB