Funding arb · Price arb /

DOGE

all DOGE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.027%

Price spread now: Binance against Backpack−0.139%7-day average +0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$290.289% of the position

Long on Backpack Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.062%−$6 on $10k

Price spread, last 4 days (all we have)+0.227%+$23 · spread now −0.139%, 7d avg +0.009%

Together, before fees+0.165%+$16 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.148% cheaper against Backpack than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack DOGE_USDC_PERP	0.1006	0.0100	pay 0.0013% / 1h	21m 17s	$364K	$1.1M	15x
Short	Binance DOGEUSDT	0.1005	0.0100	get 0.0100% / 8h	7h 21m	$319.3M	$1.40B	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Backpack. 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 BackpackbpFee BinancebpOrdersPrice spread, now −0.139%Rate

Funding earned: $0
Price spread: −0.139% → +0.009%: −$14.8
Slippage, 4 orders: −$8.92
Fee Backpack: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$43.73
Costs to cover: 0.289%
Break-even: never at this rate

Slippage from Backpack: live order book, 3 min ago; Binance: live order book, 8 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 Backpack live order book, 3 min ago	0.50 bp	6.6 bp −$7	26.7 bp −$267	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	0.50 bp	5.5 bp −$5	8.3 bp −$83	22.9 bp −$2,294	47.2 bp −$23.6K

DOGE on 44 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
Bitget DOGEUSDT	−0.0176%	8h	0.1004	−0.239%	$152.5M	$271.0M	75x	as long as short
Kraken Futures PF_DOGEUSD	−0.0077%	1h	0.1005	−0.149%	$6.1M	$33.9M	50x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.1009	+0.301%	$419K	$4.8M	2.8x	as long as short
Deribit DOGE_USDC-PERPETUAL	0.0000%	1h	0.1005	−0.135%	$604K	$121K	25x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.1005	−0.156%	$24K	—	150x	as long as short
dYdX DOGE-USD	+0.0015%	1h	0.1005	−0.099%	$226K	$44K	10x	as long as short
Lighter DOGE	+0.0096%	1h	0.1006	−0.011%	$791K	$5.8M	15x	as long as short
Katana Perps DOGE-USD	+0.0100%	8h	0.1005	−0.129%	$839	$412K	10x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.1004	−0.229%	$515K	$971K	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.1005	−0.135%	$4.9M	$46.5M	75x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica DOGE	+0.0100%	1h	0.1005	−0.076%	$335K	$516K	20x	as long as short
Binance DOGEUSDTshort	+0.0100%	8h	0.1005	−0.139%	$319.3M	$1.40B	75x
Bybit DOGEUSDT	+0.0100%	8h	0.1005	−0.159%	$159.7M	$438.5M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.1005	−0.149%	$111.1M	$969.2M	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.1006	−0.050%	$28K	$82K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.1007	+0.082%	$386K	$5K	10x	as long as short
Gate DOGE_USDT	+0.0100%	8h	0.1004	−0.179%	$244.2M	$129.7M	75x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.1004	−0.179%	$113.0M	$225.1M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.1004	−0.219%	$65.9M	$42.4M	75x	as long as short
BingX DOGE-USDC	+0.0100%	8h	0.1004	−0.179%	—	$3.4M	—	as long as short
Backpack DOGE_USDC_PERPlong	+0.0100%	1h	0.1006	long leg	$364K	$1.1M	15x
Variational Omni DOGE	+0.0100%	8h	0.1004	−0.171%	$989K	$8.1M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.1010	+0.378%	$265K	$124.1M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.1010	+0.358%	$633K	$4.5M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.1010	+0.378%	$148K	$268K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.1004	−0.239%	$267K	$636K	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.1005	−0.159%	$73K	$424K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.1004	−0.177%	$25K	$1K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.1005	−0.143%	$36K	$2.2M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.1005	−0.159%	$2K	$3.8M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.1006	+0.026%	$6.0M	$52.8M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.1006	+0.010%	$92.9M	$17.8M	50x	as long as short
Paradex DOGE-USD-PERP	+0.0100%	8h	0.1005	−0.121%	$18K	$5K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.1004	−0.177%	$532K	$3.9M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.1006	−0.039%	$19K	—	3x	as long as short
Reya DOGERUSDPERP	+0.0182%	1h	0.1004	−0.200%	$2K	—	20x	as long as short
01 Exchange DOGEUSD	+0.0184%	1h	0.1005	−0.153%	$530	$4K	10x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.1010	+0.368%	$15.4M	$25.8M	75x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0240%	1h	0.1007	+0.070%	$2.0M	$25.0M	50x	as long as short
Phoenix DOGE	+0.0240%	1h	0.1008	+0.222%	$65K	$283K	10x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0247% / S −0.0272%	1h	0.1005	−0.154%	$315K	—	200x	as long as short
RISEx DOGE/USDC	+0.0701%	1h	0.1006	−0.060%	$325K	$404K	10x	as long as short
Hyperliquid DOGE	+0.0813%	1h	0.1006	−0.060%	$122.5M	$95.0M	10x	as long as short
Injective DOGE/USDC PERP	+0.0973%	1h	0.1012	+0.576%	$5K	$239K	12x	as long as short