Funding arb · Price arb /

DOGE

all DOGE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.027%

Price spread now: Bulk against Backpack−0.394%7-day average +0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$300.300% of the position

Long on Backpack Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.009%−$1 on $10k

Price spread, last 4 days (all we have)+0.480%+$48 · spread now −0.394%, 7d avg +0.026%

Together, before fees+0.470%+$47 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: Bulk is 0.419% cheaper against Backpack than usual: you would sell low and buy high, −$42 on $10k if it goes back to its 7-day average of +0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack DOGE_USDC_PERP	0.09909	0.0100	pay 0.0013% / 1h	33m 31s	$343K	$1.1M	15x
Short	Bulk DOGE-USD	0.09870	0.0100	get 0.0013% / 1h	33m 31s	$378K	$5K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk 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 BulkbpOrdersPrice spread, now −0.394%Rate

Funding earned: $0
Price spread: −0.394% → +0.026%: −$41.91
Slippage, 4 orders: −$13.04
Fee Backpack: 5 bp × 2 orders: −$10
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$71.95
Costs to cover: 0.300%
Break-even: never at this rate

Slippage from Backpack: live order book, just now; Bulk: live order book, 35 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, just now	0.51 bp	5.8 bp −$6	12.2 bp −$122	doesn't fit	doesn't fit
Sell Bulk live order book, 35 min ago	4.95 bp	8.4 bp −$8	8.4 bp −$84	13.6 bp −$1,361	23.3 bp −$11.7K

DOGE on 43 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	−0.0122%	8h	0.09876	−0.333%	$149.7M	$273.5M	75x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.09897	−0.122%	$387K	$5.0M	2.8x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.09881	−0.283%	$23K	—	150x	as long as short
dYdX DOGE-USD	+0.0022%	1h	0.09878	−0.313%	$222K	$51K	10x	as long as short
Kraken Futures PF_DOGEUSD	+0.0067%	1h	0.09902	−0.073%	$5.8M	$34.1M	50x	as long as short
Lighter DOGE	+0.0096%	1h	0.09890	−0.193%	$768K	$6.0M	15x	as long as short
Katana Perps DOGE-USD	+0.0099%	8h	0.09878	−0.313%	$825	$430K	10x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.09887	−0.222%	$482K	$972K	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.09880	−0.293%	$4.6M	$48.3M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.09885	−0.241%	$326K	$504K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance DOGEUSDT	+0.0100%	8h	0.09886	−0.227%	$313.0M	$1.43B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.09882	−0.272%	$156.5M	$443.9M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.09886	−0.232%	$108.8M	$974.0M	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.09889	−0.202%	$127K	$178K	10x	as long as short
Bulk DOGE-USDshort	+0.0100%	1h	0.09870	−0.394%	$378K	$5K	10x
Gate DOGE_USDT	+0.0100%	8h	0.09871	−0.383%	$239.8M	$131.6M	75x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.09884	−0.252%	$108.9M	$229.0M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.09884	−0.252%	$65.3M	$43.1M	75x	as long as short
BingX DOGE-USDC	+0.0100%	8h	0.09884	−0.252%	—	$3.4M	—	as long as short
Backpack DOGE_USDC_PERPlong	+0.0100%	1h	0.09909	long leg	$343K	$1.1M	15x
Variational Omni DOGE	+0.0100%	8h	0.09884	−0.253%	$973K	$8.2M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.09884	−0.256%	$271K	$128.3M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.09887	−0.226%	$622K	$4.5M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.09880	−0.293%	$144K	$276K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.09876	−0.333%	$254K	$642K	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.09900	−0.091%	$70K	$440K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.09898	−0.109%	$24K	$1K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.09904	−0.049%	$35K	$2.2M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.09902	−0.071%	$2K	$3.7M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.09902	−0.076%	$5.9M	$54.7M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.09904	−0.050%	$91.3M	$17.4M	50x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.09867	−0.420%	$523K	$3.9M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.09900	−0.086%	$19K	—	3x	as long as short
Paradex DOGE-USD-PERP	+0.0113%	8h	0.09882	−0.268%	$18K	$6K	30x	as long as short
Deribit DOGE_USDC-PERPETUAL	+0.0164%	1h	0.09901	−0.079%	$592K	$118K	25x	as long as short
Reya DOGERUSDPERP	+0.0184%	1h	0.09882	−0.274%	$2K	—	20x	as long as short
01 Exchange DOGEUSD	+0.0192%	1h	0.09884	−0.252%	$527	$4K	10x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0240%	1h	0.09877	−0.323%	$2.0M	$24.9M	50x	as long as short
Phoenix DOGE	+0.0241%	1h	0.09898	−0.110%	$64K	$284K	10x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0245% / S −0.0267%	1h	0.09883	−0.260%	$307K	—	200x	as long as short
RISEx DOGE/USDC	+0.0563%	1h	0.09882	−0.269%	$318K	$404K	10x	as long as short
Hyperliquid DOGE	+0.0701%	1h	0.09896	−0.130%	$120.4M	$97.2M	10x	as long as short
Injective DOGE/USDC PERP	+0.1004%	1h	0.09900	−0.091%	$5K	$239K	12x	as long as short