Funding you earn now, next payment 00:00 UTC−0.0232%/8h= −25.4% APRpaid last 24h −0.025%
Price spread now: BingX against Backpack−0.171%7-day average +0.005% · you buy dearer than you sell
Net, funding: paid 7d − costs−$30as in the Funding arb table
Net, price: spread back to 7d avg − costs−$43as in the Price arb table
costs, in and out, $10k−$250.250% of the position
Funding, last 7 days−0.046%−$5 on $10k
+Price spread, last 4 days (all we have)+0.240%+$24 · spread now −0.171%, 7d avg +0.005%
=Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and BingX is 0.176% cheaper against Backpack than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of +0.005%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.046% in total (about -2.4% 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 | Backpack DOGE_USDC_PERP | 0.09917 | 0.0332 | pay 0.0041% / 1h | 11m 33s | $387K | $1.1M | 15x |
| Short | BingX DOGE-USDT | 0.09900 | 0.0100 | get 0.0100% / 8h | 11m 33s | — | $75.9M | — |
Backpack DOGE_USDC_PERP
BingX DOGE-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX against Backpack. 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
- −$48.67
- Price spread: −0.171% → +0.005%
- −$17.6
- Slippage, 4 orders
- −$4.95
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$91.22
- Costs to cover
- 0.250%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 2 min ago; BingX: live order book, 2 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, 2 min ago | 0.50 bp | 5.6 bp −$6 | 14.4 bp −$144 | doesn't fit | doesn't fit |
| Sell BingX live order book, 2 min ago | 1.01 bp | 6.0 bp −$6 | 6.9 bp −$69 | 11.5 bp −$1,149 | 22.0 bp −$11.0K |
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 | −0.0222% | 8h | 0.09892 | −0.252% | $150.9M | $270.1M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.09921 | +0.042% | $387K | $4.8M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.09913 | −0.038% | $24K | — | 150x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0053% | 1h | 0.09915 | −0.023% | $596K | $117K | 25x | as long as short |
| dYdX DOGE-USD | +0.0060% | 1h | 0.09896 | −0.209% | $222K | $44K | 10x | as long as short |
| Gate DOGE_USDT | +0.0070% | 8h | 0.09896 | −0.212% | $240.8M | $128.6M | 75x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.09902 | −0.147% | $783K | $5.6M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0098% | 8h | 0.09898 | −0.192% | $2K | $391K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.09903 | −0.141% | $507K | $975K | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.09900 | −0.175% | $4.8M | $45.9M | 75x | as long as short |
Bitget DOGEUSDT
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
Deribit DOGE_USDC-PERPETUAL
dYdX DOGE-USD
Gate DOGE_USDT
Lighter DOGE
Katana Perps DOGE-USD
Nado DOGE-PERP
Aster DOGEUSDTShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica DOGE | +0.0100% | 1h | 0.09902 | −0.156% | $330K | $510K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.09900 | −0.171% | $313.9M | $1.38B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09897 | −0.202% | $155.6M | $434.1M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09901 | −0.161% | $108.5M | $945.2M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.09905 | −0.121% | $31K | $82K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09964 | +0.469% | $382K | $12K | 10x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09899 | −0.182% | $110.1M | $222.6M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09898 | −0.192% | $65.2M | $42.0M | 75x | as long as short |
| BingX DOGE-USDTshort | +0.0100% | 8h | 0.09900 | −0.171% | — | $75.9M | — | |
| Variational Omni DOGE | +0.0100% | 8h | 0.09953 | +0.364% | $1.0M | $8.1M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.09919 | +0.018% | $256K | $120.2M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.09915 | −0.016% | $634K | $4.6M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.09920 | +0.030% | $146K | $251K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.09894 | −0.232% | $254K | $555K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.09911 | −0.061% | $72K | $433K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.09909 | −0.078% | $24K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09916 | −0.013% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.09911 | −0.061% | $2K | $3.6M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09912 | −0.052% | $5.9M | $52.0M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.09912 | −0.050% | $91.6M | $19.2M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.09897 | −0.201% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09898 | −0.190% | $522K | $3.7M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.09910 | −0.066% | $19K | — | 3x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0106% | 1h | 0.09908 | −0.092% | $5.9M | $33.6M | 50x | as long as short |
| Reya DOGERUSDPERP | +0.0180% | 1h | 0.09898 | −0.192% | $2K | — | 20x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.09914 | −0.030% | $15.2M | $25.1M | 75x | as long as short |
| 01 Exchange DOGEUSD | +0.0224% | 1h | 0.09906 | −0.109% | $523 | $4K | 10x | as long as short |
| Phoenix DOGE | +0.0239% | 1h | 0.09920 | +0.028% | $66K | $281K | 10x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0240% | 1h | 0.09915 | −0.020% | $2.0M | $24.1M | 50x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0246% / S −0.0273% | 1h | 0.09912 | −0.046% | $312K | — | 200x | as long as short |
| Backpack DOGE_USDC_PERPlong | +0.0332% | 1h | 0.09917 | long leg | $387K | $1.1M | 15x | |
| RISEx DOGE/USDC | +0.0708% | 1h | 0.09905 | −0.123% | $314K | $477K | 10x | as long as short |
| Hyperliquid DOGE | +0.0838% | 1h | 0.09911 | −0.062% | $115.8M | $90.1M | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1039% | 1h | 0.09980 | +0.635% | $5K | $239K | 12x | as long as short |
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Arcus DOGE-USD
Bulk DOGE-USD
MEXC DOGE_USDT
KuCoin DOGEUSDTM
Variational Omni DOGE
edgeX DOGEUSDC
GRVT DOGE_USDT_Perp
ApeX Omni DOGEUSDT
Polymarket Perps DOGE-USD
Orderly PERP_DOGE_USDC
Derive DOGE-PERP
SunX DOGE-USDT
SoDEX DOGE-USD
HTX DOGE-USDT
Phemex DOGEUSDT
Paradex DOGE-USD-PERP
Extended DOGE-USD
Aevo DOGE-PERP
Kraken Futures PF_DOGEUSD
Reya DOGERUSDPERP
BloFin DOGE-USDT
01 Exchange DOGEUSD
Phoenix DOGE
Coinbase International DOGE-PERP-INTX
GMX DOGE/USD [ETH-USDC]
RISEx DOGE/USDC
Hyperliquid DOGE
Injective DOGE/USDC PERP