Funding you earn now, next payment 05:00 UTC+0.0073%/8h= +8.0% APRpaid last 24h +0.063%
Price spread now: Hyperliquid against Phemex+0.338%48s7-day average +0.080% · you sell dearer than you buy
Net, funding: paid 7d − costs−$81as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$890.890% of the position
Funding, last 7 days+0.084%+$8 on $10k
+Price spread, last 4 days (all we have)−0.247%−$25 · spread now +0.338%, 7d avg +0.080%
=Together, before fees−0.163%+ Points / potential airdropHyperliquid: Season 2 · farm board−$16 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Hyperliquid is 0.257% dearer against Phemex than usual: you sell high and buy low: +$26 more if the spread goes back to its 7-day average of +0.080%. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex u1000SHIBUSDT | 0.000006217 | 0.0100 | pay 0.0100% / 8h | 3h 49m | $2.2M | $7.0M | 50x |
| Short | Hyperliquid kSHIB | 0.000006238 | 0.0173 | get 0.0022% / 1h | 49m 25s | $3.7M | $5.0M | 10x |
Phemex u1000SHIBUSDT
Hyperliquid kSHIBFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid 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
- $15.43
- Price spread: +0.338% → +0.080%
- $25.73
- Slippage, 4 orders
- −$68.02
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$47.87
- Costs to cover
- 0.890%
- Break-even
- 28.7 days
Slippage from Phemex: live order book, 4 min ago; Hyperliquid: 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 Phemex live order book, 4 min ago | 24.13 bp | 32.0 bp −$32 | doesn't fit | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 2 min ago | 3.21 bp | 15.3 bp −$15 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International 1000SHIB-PERP-INTX | −0.0168% | 1h | 0.000006217 | 0.000% | $109K | $1.3M | 50x | as long as short |
| Kraken Futures PF_SHIBUSD | −0.0063% | 1h | 0.000006213 | −0.057% | $1.2M | $964K | 50x | as long as short |
| dYdX SHIB-USD | 0.0000% | 1h | 0.000006242 | +0.401% | $24K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000006225 | +0.135% | $180K | $2.5M | 2x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | 0.0000% | 1h | 0.000006214 | −0.048% | $48K | $58K | 25x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000006229 | +0.188% | $588 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | −2.847% | $248 | $134K | 5.5x | as long as short |
| BingX 1000SHIB-USDC | +0.0080% | 8h | 0.000006227 | +0.161% | — | $1.6M | — | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006244 | +0.434% | $167K | $618K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006232 | +0.241% | $43K | $322K | 50x | as long as short |
Coinbase International 1000SHIB-PERP-INTX
Kraken Futures PF_SHIBUSD
dYdX SHIB-USD
Kalshi KXKSHIBPERP
Deribit 1000SHIB_USDC-PERPETUAL
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
BingX 1000SHIB-USDC
Lighter 1000SHIB
Aster 1000SHIBUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006232 | +0.241% | $32.0M | $111.5M | 75x | as long as short |
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000006225 | +0.129% | $10.0M | $39.9M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006228 | +0.177% | $7.2M | $6.2M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006231 | +0.225% | $31.7M | $18.6M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006231 | +0.225% | $4.9M | $2.9M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006232 | +0.241% | $11.8M | $15.2M | 75x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006229 | +0.193% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006226 | +0.145% | $3K | $25K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006216 | −0.016% | $498 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006219 | +0.032% | $426K | $572K | 75x | as long as short |
| Phemex u1000SHIBUSDTlong | +0.0100% | 8h | 0.000006217 | long leg | $2.2M | $7.0M | 50x | |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006220 | +0.041% | $55K | $4K | 25x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0122% | 8h | 0.000006232 | +0.247% | $7K | $13 | 20x | as long as short |
| Hyperliquid kSHIBshort | +0.0173% | 1h | 0.000006238 | +0.338% | $3.7M | $5.0M | 10x | |
| Pacifica kSHIB | +0.0188% | 1h | 0.000006237 | +0.322% | $12K | $5K | 10x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0214% / S −0.2404% | 1h | 0.000006000 | −3.490% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006223 | +0.097% | $899K | $924K | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006228 | +0.177% | $1 | — | 20x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0423% | 1h | 0.000006229 | +0.193% | $24K | $7K | 15x | as long as short |
Binance 1000SHIBUSDT
OKX SHIB-USDT-SWAP
Gate SHIB_USDT
MEXC SHIB_USDT
KuCoin SHIBUSDTM
Bitget SHIBUSDT
Orderly PERP_1000SHIB_USDC
SunX SHIB-USDT
SoDEX 1000SHIB-USD
HTX SHIB-USDT
Extended 1000SHIB-USD
Paradex kSHIB-USD-PERP
Pacifica kSHIB
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Reya kSHIBRUSDPERP
Backpack kSHIB_USDC_PERP