Funding arb · Price arb /

SHIB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0042%/8h= −4.6% APRpaid last 24h −0.020%

Price spread now: BingX against SoDEX+0.099%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on SoDEX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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. BingX is 0.099% dearer against SoDEX than usual: you sell high and buy low (spread +0.099% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 7.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX 1000SHIB-USD	0.000006036	0.0100	pay 0.0013% / 1h	2m 42s	$509	$5K	10x
Short	BingX 1000SHIB-USDT	0.000006042	0.0058	get 0.0058% / 8h	2h 02m	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against SoDEX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee SoDEXbpFee BingXbpOrdersPrice spread, now +0.099%Rate

Funding earned: −$8.82
Price spread: +0.099% → 0.000%: $9.94
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: −$16.88
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; BingX: live order book, 15 min ago. 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 SoDEX no order-book sample	—	—	—	—	—
Sell BingX live order book, 15 min ago	1.67 bp	8.6 bp −$9	17.2 bp −$172	54.9 bp −$5,493	129.1 bp −$64.5K

SoDEX: 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
Kraken Futures PF_SHIBUSD	−0.0591%	1h	0.000006033	−0.048%	$1.1M	$1.0M	50x	as long as short
Coinbase International 1000SHIB-PERP-INTX	−0.0128%	1h	0.000006050	+0.232%	$123K	$1.6M	50x	as long as short
dYdX SHIB-USD	0.0000%	1h	0.000006039	+0.046%	$24K	$56K	10x	as long as short
Kalshi KXKSHIBPERP	0.0000%	8h	0.000006036	+0.003%	$115K	$3.2M	2x	as long as short
gTrade (Gains Network) SHIB/USD	L +0.0006% / S 0.0000%	1h	0.000006031	−0.081%	$569	—	150x	as long as short
Injective SHIB/USDC PERP	+0.0033%	1h	0.000006040	+0.066%	$248	$134K	5.5x	as long as short
BingX 1000SHIB-USDTshort	+0.0058%	8h	0.000006042	+0.099%	—	$2.3M	—
Deribit 1000SHIB_USDC-PERPETUAL	+0.0081%	1h	0.000006039	+0.050%	$47K	$65K	25x	as long as short
Lighter 1000SHIB	+0.0096%	1h	0.000006043	+0.116%	$157K	$638K	10x	as long as short
Aster 1000SHIBUSDT	+0.0100%	8h	0.000006038	+0.036%	$41K	$336K	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kSHIB	+0.0100%	1h	0.000006040	+0.066%	$12K	$5K	10x	as long as short
Binance 1000SHIBUSDT	+0.0100%	8h	0.000006043	+0.114%	$30.5M	$125.6M	75x	as long as short
OKX SHIB-USDT-SWAP	+0.0100%	8h	0.000006043	+0.116%	$9.2M	$43.3M	50x	as long as short
Gate SHIB_USDT	+0.0100%	8h	0.000006040	+0.066%	$7.1M	$7.4M	75x	as long as short
MEXC SHIB_USDT	+0.0100%	8h	0.000006038	+0.033%	$28.6M	$19.4M	300x	as long as short
KuCoin SHIBUSDTM	+0.0100%	8h	0.000006034	−0.033%	$4.7M	$3.2M	75x	as long as short
Bitget SHIBUSDT	+0.0100%	8h	0.000006044	+0.133%	$11.4M	$17.2M	75x	as long as short
Backpack kSHIB_USDC_PERP	+0.0100%	1h	0.000006036	0.000%	$23K	$7K	15x	as long as short
Orderly PERP_1000SHIB_USDC	+0.0100%	8h	0.000006037	+0.017%	$7K	$4K	20x	as long as short
SunX SHIB-USDT	+0.0100%	8h	0.000006047	+0.182%	$2K	$27K	20x	as long as short
SoDEX 1000SHIB-USDlong	+0.0100%	1h	0.000006036	long leg	$509	$5K	10x
HTX SHIB-USDT	+0.0100%	8h	0.000006040	+0.066%	$412K	$573K	75x	as long as short
Phemex u1000SHIBUSDT	+0.0100%	8h	0.000006040	+0.066%	$2.1M	$7.5M	50x	as long as short
Paradex kSHIB-USD-PERP	+0.0102%	8h	0.000006045	+0.153%	$7K	$13	20x	as long as short
Extended 1000SHIB-USD	+0.0104%	1h	0.000006042	+0.102%	$53K	$4K	25x	as long as short
Hyperliquid kSHIB	+0.0163%	1h	0.000006044	+0.133%	$3.6M	$5.3M	10x	as long as short
GMX SHIB/USD [ETH-USDC]	L +0.0212% / S −0.2404%	1h	0.000006000	−0.596%	$1K	—	100x	as long as short
BloFin SHIB-USDT	+0.0220%	8h	0.000006030	−0.099%	$862K	$932K	50x	as long as short
Reya kSHIBRUSDPERP	+0.0323%	1h	0.000006030	−0.101%	$1	—	20x	as long as short