Funding you earn now, next payment 00:00 UTC+0.0280%/8h= +30.7% APRpaid last 24h −0.056%
Price spread now: Kraken Futures against Phemex+0.073%7-day average −0.041% · you sell dearer than you buy
Net, funding: paid 7d − costs−$87as in the Funding arb table
Net, price: spread back to 7d avg − costs−$65as in the Price arb table
costs, in and out, $10k−$770.767% of the position
Funding, last 7 days−0.101%−$10 on $10k
+Price spread, last 3 days (all we have)−0.129%−$13 · spread now +0.073%, 7d avg −0.041%
=Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Kraken Futures is 0.114% dearer against Phemex than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of −0.041%. Mind the row above: over the last 7 days funding on this pair cost −0.101%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.101% in total (about -5.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex u1000SHIBUSDT | 0.000006061 | 0.0100 | pay 0.0100% / 8h | 38m 32s | $2.1M | $5.9M | 50x |
| Short | Kraken Futures PF_SHIBUSD | 0.000006065 | 0.0380 | get 0.0048% / 1h | 38m 32s | $1.2M | $804K | 50x |
Phemex u1000SHIBUSDT
Kraken Futures PF_SHIBUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- $58.85
- Price spread: +0.073% → −0.041%
- $11.38
- Slippage, 4 orders
- −$54.74
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$6.52
- Costs to cover
- 0.767%
- Break-even
- 7.8 days
Slippage from Phemex: live order book, 5 min ago; Kraken Futures: live order book, 5 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 | 7.39 bp | 18.8 bp −$19 | 55.7 bp −$557 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 5 min ago | 3.29 bp | 22.7 bp −$23 | 33.4 bp −$334 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX SHIB-USD | 0.0000% | 1h | 0.000006063 | +0.036% | $23K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000006063 | +0.038% | $73K | $1.9M | 2x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S −0.0001% | 1h | 0.000006065 | +0.058% | $738 | — | 150x | as long as short |
| Coinbase International 1000SHIB-PERP-INTX | +0.0032% | 1h | 0.000006113 | +0.858% | $81K | $791K | 50x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | +0.0080% | 1h | 0.000006067 | +0.099% | $46K | $65K | 25x | as long as short |
| BingX 1000SHIB-USDT | +0.0080% | 8h | 0.000006063 | +0.033% | — | $2.1M | — | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006064 | +0.049% | $153K | $290K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006060 | −0.009% | $35K | $175K | 50x | as long as short |
| Pacifica kSHIB | +0.0100% | 1h | 0.000006066 | +0.082% | $12K | $4K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006065 | +0.062% | $29.8M | $94.9M | 75x | as long as short |
dYdX SHIB-USD
Kalshi KXKSHIBPERP
gTrade (Gains Network) SHIB/USD
Coinbase International 1000SHIB-PERP-INTX
Deribit 1000SHIB_USDC-PERPETUAL
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 | 0.000006068 | +0.115% | $8.8M | $32.6M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006062 | +0.016% | $7.0M | $5.6M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006062 | +0.016% | $30.4M | $16.3M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006064 | +0.049% | $4.9M | $2.5M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006067 | +0.099% | $11.6M | $13.2M | 75x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006066 | +0.082% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006082 | +0.346% | $2K | $23K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006064 | +0.049% | $543 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006063 | +0.033% | $415K | $615K | 75x | as long as short |
| Phemex u1000SHIBUSDTlong | +0.0100% | 8h | 0.000006061 | long leg | $2.1M | $5.9M | 50x | |
| Paradex kSHIB-USD-PERP | +0.0102% | 8h | 0.000006066 | +0.087% | $7K | — | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006063 | +0.041% | $54K | $4K | 25x | as long as short |
| Injective SHIB/USDC PERP | +0.0161% | 1h | 0.000006040 | −0.346% | $248 | $134K | 5.5x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0177% | 1h | 0.000006063 | +0.033% | $25K | $6K | 15x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000006000 | −1.006% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006065 | +0.066% | $822K | $948K | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006064 | +0.050% | $1 | — | 20x | as long as short |
| Kraken Futures PF_SHIBUSDshort | +0.0380% | 1h | 0.000006065 | +0.073% | $1.2M | $804K | 50x | |
| Hyperliquid kSHIB | +0.0644% | 1h | 0.000006076 | +0.247% | $4.4M | $4.0M | 10x | as long as short |
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
Paradex kSHIB-USD-PERP
Extended 1000SHIB-USD
Injective SHIB/USDC PERP
Backpack kSHIB_USDC_PERP
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Reya kSHIBRUSDPERP
Hyperliquid kSHIB