Funding you earn now, next payment 10:00 UTC−0.0223%/8h= −24.4% APRnext payment −$0.28 per $10,000 · paid last 24h −0.066%
Price spread now: Backpack against Reya−0.028%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Backpack is 0.028% cheaper against Reya than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Reya kSHIBRUSDPERP | 0.000006076 | 0.0323 | pay 0.0040% / 1h | 17m 58s | $1 | — | 20x |
| Short | Backpack kSHIB_USDC_PERP | 0.000006074 | 0.0100 | get 0.0013% / 1h | 17m 58s | $23K | $9K | 15x |
Reya kSHIBRUSDPERP
Backpack kSHIB_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Reya. 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
- −$46.75
- Price spread: −0.028% → 0.000%
- −$2.84
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$65.59
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Reya: no order-book sample; Backpack: 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 Reya no order-book sample | — | — | — | — | — |
| Sell Backpack no order-book sample | — | — | — | — | — |
Reya and Backpack: 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 exchanges
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 | −0.0080% | 1h | 0.000006071 | −0.078% | $132K | $1.7M | 50x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000006072 | −0.063% | $80K | $3.5M | 2x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S 0.0000% | 1h | 0.000006066 | −0.155% | $573 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | −0.588% | $248 | $134K | 5.5x | as long as short |
| Kraken Futures PF_SHIBUSD | +0.0036% | 1h | 0.000006076 | +0.012% | $1.2M | $1.0M | 50x | as long as short |
| BingX 1000SHIB-USDT | +0.0070% | 8h | 0.000006070 | −0.094% | — | $2.2M | — | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006076 | +0.005% | $157K | $625K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006069 | −0.116% | $40K | $288K | 50x | as long as short |
| Pacifica kSHIB | +0.0100% | 1h | 0.000006072 | −0.061% | $12K | $5K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006069 | −0.110% | $31.5M | $129.4M | 75x | as long as short |
Coinbase International 1000SHIB-PERP-INTX
Kalshi KXKSHIBPERP
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
Kraken Futures PF_SHIBUSD
BingX 1000SHIB-USDT
Lighter 1000SHIB
Aster 1000SHIBUSDT
Pacifica kSHIB
Binance 1000SHIBUSDTShow all 29 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000006068 | −0.127% | $9.7M | $46.8M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006068 | −0.127% | $7.1M | $6.8M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006064 | −0.193% | $28.2M | $20.2M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006066 | −0.160% | $4.7M | $3.2M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006067 | −0.144% | $11.4M | $17.7M | 75x | as long as short |
| Backpack kSHIB_USDC_PERPshort | +0.0100% | 1h | 0.000006074 | −0.028% | $23K | $9K | 15x | |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006079 | +0.054% | $7K | $2K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006088 | +0.202% | $2K | $26K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006077 | +0.021% | $523 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006072 | −0.061% | $417K | $479K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000006072 | −0.061% | $2.1M | $7.7M | 50x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0101% | 8h | 0.000006072 | −0.055% | $7K | $13 | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006068 | −0.124% | $54K | $4K | 25x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0212% / S −0.2404% | 1h | 0.000006000 | −1.246% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006066 | −0.160% | $926K | $929K | 50x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | +0.0244% | 1h | 0.000006080 | +0.070% | $49K | $46K | 25x | as long as short |
| Reya kSHIBRUSDPERPlong | +0.0323% | 1h | 0.000006076 | long leg | $1 | — | 20x | |
| Hyperliquid kSHIB | +0.0387% | 1h | 0.000006079 | +0.054% | $3.7M | $5.2M | 10x | as long as short |
| dYdX SHIB-USD | +0.8507% | 1h | 0.000006070 | −0.094% | $32K | $64K | 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
Phemex u1000SHIBUSDT
Paradex kSHIB-USD-PERP
Extended 1000SHIB-USD
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Deribit 1000SHIB_USDC-PERPETUAL
Hyperliquid kSHIB
dYdX SHIB-USD