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Funding arb · Price arb /

DOGE

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.027%
Price spread now: Bybit against Backpack+0.140%45s7-day average +0.012% · you sell dearer than you buy
Net, funding: paid 7d − costs−$40as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$290.293% of the position
Long on BackpackShort on Bybit
What this pair did over the last
the charts below follow
Funding, last 7 days−0.105%−$11 on $10k
Price spread, last 7 days−0.154%−$15 · spread now +0.140%, 7d avg +0.012%
Together, before fees−0.260%−$26 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: Bybit is 0.129% dearer against Backpack than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of +0.012%. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBackpack DOGE_USDC_PERP0.099740.0100pay 0.0013% / 1h45m 24s$329K$1.1M15x
ShortBybit DOGEUSDT0.099880.0100get 0.0100% / 8h5h 45m$160.3M$440.1M75x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bybit 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

Funding earned
$0
Price spread: +0.140% → +0.012%
$12.87
Slippage, 4 orders
−$8.26
Fee Backpack: 5 bp × 2 orders
−$10
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
−$16.39
Costs to cover
0.293%
Break-even
never at this rate
Slippage from Backpack: live order book, 4 min ago; Bybit: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Backpack live order book, 4 min ago0.50 bp5.5 bp −$613.2 bp −$132doesn't fitdoesn't fit
Sell Bybit live order book, 4 min ago0.50 bp9.8 bp −$1012.2 bp −$12222.2 bp −$2,21844.3 bp −$22.2K

DOGE on 44 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget DOGEUSDT−0.0093%8h0.09986+0.120%$151.2M$274.0M75xas long as short
dYdX DOGE-USD0.0000%1h0.09980+0.061%$224K$49K10xas long as short
Kalshi KXDOGEPERP0.0000%8h0.09980+0.058%$445K$5.1M2.8xas long as short
gTrade (Gains Network) DOGE/USDL +0.0001% / S 0.0000%1h0.09987+0.130%$24K—150xas long as short
Lighter DOGE+0.0096%1h0.09988+0.142%$815K$6.1M15xas long as short
Katana Perps DOGE-USD+0.0099%8h0.09996+0.221%$836$434K10xas long as short
Nado DOGE-PERP+0.0100%1h0.09996+0.221%$533K$991K10xas long as short
Aster DOGEUSDT+0.0100%8h0.09994+0.205%$4.7M$48.5M75xas long as short
Pacifica DOGE+0.0100%1h0.09982+0.077%$328K$484K20xas long as short
Binance DOGEUSDT+0.0100%8h0.09992+0.183%$320.5M$1.43B75xas long as short
Show all 44 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit DOGEUSDTshort+0.0100%8h0.09988+0.140%$160.3M$440.1M75x
OKX DOGE-USDT-SWAP+0.0100%8h0.09995+0.211%$111.3M$987.6M50xas long as short
Bulk DOGE-USD+0.0100%1h0.09995+0.208%$383K$5K10xas long as short
Gate DOGE_USDT+0.0100%8h0.09987+0.130%$242.9M$131.6M75xas long as short
MEXC DOGE_USDT+0.0100%8h0.09991+0.170%$113.5M$229.4M300xas long as short
KuCoin DOGEUSDTM+0.0100%8h0.09998+0.241%$66.1M$43.3M75xas long as short
BingX DOGE-USDC+0.0100%8h0.09983+0.090%—$3.5M—as long as short
Backpack DOGE_USDC_PERPlong+0.0100%1h0.09974long leg$329K$1.1M15x
Variational Omni DOGE+0.0100%8h0.09980+0.058%$997K$8.2M—as long as short
edgeX DOGEUSDC+0.0100%4h0.09977+0.031%$296K$129.9M20xas long as short
GRVT DOGE_USDT_Perp+0.0100%8h0.09971−0.027%$635K$4.4M10xas long as short
Polymarket Perps DOGE-USD+0.0100%1h0.09991+0.170%$256K$731K10xas long as short
Orderly PERP_DOGE_USDC+0.0100%8h0.09994+0.201%$70K$440K50xas long as short
Derive DOGE-PERP+0.0100%1h0.09994+0.201%$25K$1K10xas long as short
SunX DOGE-USDT+0.0100%8h0.09999+0.248%$35K$2.2M30xas long as short
SoDEX DOGE-USD+0.0100%1h0.09995+0.211%$2K$3.9M10xas long as short
HTX DOGE-USDT+0.0100%8h0.09988+0.136%$5.9M$56.3M75xas long as short
Phemex DOGEUSDT+0.0100%8h0.09995+0.211%$92.0M$16.7M50xas long as short
Extended DOGE-USD+0.0104%1h0.09990+0.165%$558K$4.0M50xas long as short
Aevo DOGE-PERP+0.0104%1h0.09993+0.189%$19K—3xas long as short
Paradex DOGE-USD-PERP+0.0105%8h0.09991+0.167%$18K$6K30xas long as short
Deribit DOGE_USDC-PERPETUAL+0.0120%1h0.09996+0.224%$597K$118K25xas long as short
Reya DOGERUSDPERP+0.0186%1h0.09994+0.198%$2K—20xas long as short
01 Exchange DOGEUSD+0.0200%1h0.1000+0.285%$533$4K10xas long as short
BloFin DOGE-USDT+0.0220%8h0.09993+0.190%—$25.2M75xas long as short
Phoenix DOGE+0.0240%1h0.1000+0.293%$65K$288K10xas long as short
GMX DOGE/USD [ETH-USDC]L +0.0246% / S −0.0267%1h0.09986+0.125%$311K—200xas long as short
Coinbase International DOGE-PERP-INTX+0.0248%1h0.1000+0.271%$2.3M$26.1M50xas long as short
Kraken Futures PF_DOGEUSD+0.0306%1h0.09993+0.193%$5.7M$35.0M50xas long as short
ApeX Omni DOGEUSDT+0.0405%1h0.09980+0.060%$146K$276K25xas long as short
Hyperliquid DOGE+0.0415%1h0.1001+0.331%$122.0M$99.9M10xas long as short
RISEx DOGE/USDC+0.0747%1h0.1000+0.280%$403K$367K10xas long as short
Arcus DOGE-USD+0.0781%1h0.1001+0.341%$129K$179K10xas long as short
Injective DOGE/USDC PERP+0.1072%1h0.1000+0.261%$5K$239K12xas long as short