SHIB

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After costs, if the gap returns to its 7d average, $10k−$59

spread now+0.068%7d average−0.036%fees + slippage, in and out−$70spread needed0.698%

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex u1000SHIBUSDT	0.000005923	0.0100	pay 0.0100% / 8h	50m 51s	$2.1M	$4.2M	50x
Short	Lighter 1000SHIB	0.000005927	0.0096	get 0.0012% / 1h	50m 51s	$159K	$210K	10x

Price spread history

latest

Range statsloading…

share of time at each level, last 7D

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Position, each leg$Hold forhoursFee PhemexbpFee LighterbpOrdersClose when spread is

Slippage from Phemex: live order book, 4 min ago; Lighter: live order book, 55 min ago.

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	12.62 bp	31.4 bp −$31	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 55 min ago	1.75 bp	7.2 bp −$7	54.8 bp −$548	doesn't fit	doesn't fit

against the cheapest. Click to use as the short leg.

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
GMX SHIB/USD [ETH-USDC]	−15.583%	L +0.0215% / S −0.2404%	1h	$1K	—	100x	as long as short
Injective SHIB/USDC PERP	−2.634%	+0.0306%	1h	$236	$110K	5.5x	as long as short
Coinbase International 1000SHIB-PERP-INTX	−0.777%	−0.0008%	1h	$92K	$913K	50x	as long as short
Kalshi KXKSHIBPERP	−0.307%	0.0000%	8h	$290K	$976K	2x	as long as short
dYdX SHIB-USD	−0.301%	0.0000%	1h	$34K	$54K	10x	as long as short
Pacifica kSHIB	−0.270%	+0.0100%	1h	$12K	$3K	10x	as long as short
Paradex kSHIB-USD-PERP	−0.146%	+0.0098%	8h	$7K	—	20x	as long as short
Phemex u1000SHIBUSDTlong	0.000%	+0.0100%	8h	$2.1M	$4.2M	50x
SoDEX 1000SHIB-USD	+0.051%	+0.0100%	1h	$529	$6K	10x	as long as short
Lighter 1000SHIBshort	+0.068%	+0.0096%	1h	$159K	$210K	10x

Show all 29 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Orderly PERP_1000SHIB_USDC	+0.084%	+0.0100%	8h	$6K	$1K	20x	as long as short
Reya kSHIBRUSDPERP	+0.097%	+0.0323%	1h	$1	—	20x	as long as short
gTrade (Gains Network) SHIB/USD	+0.098%	L +0.0007% / S −0.0008%	1h	$1K	—	150x	as long as short
BloFin SHIB-USDT	+0.101%	+0.0220%	8h	$731K	$833K	50x	as long as short
Kraken Futures PF_SHIBUSD	+0.117%	+0.0356%	1h	$1.1M	$662K	50x	as long as short
Deribit 1000SHIB_USDC-PERPETUAL	+0.135%	+0.0087%	1h	$37K	$62K	25x	as long as short
HTX SHIB-USDT	+0.152%	+0.0100%	8h	$404K	$776K	75x	as long as short
BingX 1000SHIB-USDC	+0.169%	+0.0080%	8h	—	$1.6M	—	as long as short
SunX SHIB-USDT	+0.169%	+0.0100%	8h	$2K	$18K	20x	as long as short
Backpack kSHIB_USDC_PERP	+0.203%	+0.0171%	1h	$27K	$4K	15x	as long as short
Gate SHIB_USDT	+0.219%	+0.0069%	8h	$6.7M	$4.3M	75x	as long as short
Binance 1000SHIBUSDT	+0.245%	+0.0100%	8h	$28.8M	$61.9M	75x	as long as short
Extended 1000SHIB-USD	+0.254%	+0.0104%	1h	$52K	$6K	25x	as long as short
MEXC SHIB_USDT	+0.270%	+0.0100%	8h	$20.3M	$8.3M	300x	as long as short
Aster 1000SHIBUSDT	+0.295%	+0.0100%	8h	$47K	$164K	50x	as long as short
OKX SHIB-USDT-SWAP	+0.304%	+0.0100%	8h	$7.8M	$21.7M	50x	as long as short
KuCoin SHIBUSDTM	+0.304%	+0.0100%	8h	$5.0M	$2.1M	75x	as long as short
Bitget SHIBUSDT	+0.321%	+0.0100%	8h	$11.4M	$9.7M	75x	as long as short
Hyperliquid kSHIB	+0.439%	+0.0320%	1h	$3.6M	$2.2M	10x	as long as short