Funding you earn now, next payment 23:00 UTC−0.0088%/8h= −9.6% APRnext payment −$0.11 per $10,000 · paid last 24h −0.006%
Price spread now: Coinbase International against Backpack−0.010%7-day average +0.029% · you buy dearer than you sell
Net, funding: paid 7d − costs−$45as in the Funding arb table
Net, price: spread back to 7d avg − costs−$38as in the Price arb table
costs, in and out, $10k−$340.337% of the position
Funding, last 7 days−0.108%−$11 on $10k
+Price spread, last 3 days (all we have)+0.058%+$6 · spread now −0.010%, 7d avg +0.029%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Coinbase International is 0.039% cheaper against Backpack than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.029%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack DOGE_USDC_PERP | 0.09899 | 0.0328 | pay 0.0041% / 1h | 10m 23s | $387K | $1.1M | 15x |
| Short | Coinbase International DOGE-PERP-INTX | 0.09898 | 0.0240 | get 0.0030% / 1h | 10m 23s | $2.0M | $24.0M | 50x |
Backpack DOGE_USDC_PERP
Coinbase International DOGE-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- −$18.51
- Price spread: −0.010% → +0.029%
- −$3.94
- Slippage, 4 orders
- −$13.75
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$56.19
- Costs to cover
- 0.337%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 4 min ago; Coinbase International: live order book, 4 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, 4 min ago | 0.50 bp | 5.6 bp −$6 | 14.4 bp −$144 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 4 min ago | 2.01 bp | 8.8 bp −$9 | 13.3 bp −$133 | 37.1 bp −$3,710 | doesn't fit |
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 | −0.0221% | 8h | 0.09898 | −0.010% | $151.1M | $270.1M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.09896 | −0.025% | $387K | $4.8M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.09909 | +0.099% | $24K | — | 150x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0003% | 1h | 0.09899 | −0.002% | $595K | $121K | 25x | as long as short |
| dYdX DOGE-USD | +0.0059% | 1h | 0.09910 | +0.111% | $222K | $44K | 10x | as long as short |
| Gate DOGE_USDT | +0.0070% | 8h | 0.09917 | +0.182% | $241.2M | $128.6M | 75x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.09922 | +0.228% | $783K | $5.6M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0098% | 8h | 0.09916 | +0.172% | $958 | $391K | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.09915 | +0.165% | $4.8M | $45.9M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.09917 | +0.178% | $330K | $510K | 20x | 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
Aster DOGEUSDT
Pacifica DOGEShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance DOGEUSDT | +0.0100% | 8h | 0.09919 | +0.202% | $314.5M | $1.38B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09914 | +0.152% | $155.9M | $434.2M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09914 | +0.152% | $108.8M | $947.3M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.09925 | +0.263% | $28K | $82K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09964 | +0.652% | $382K | $12K | 10x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09908 | +0.091% | $110.9M | $222.8M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09915 | +0.162% | $65.4M | $42.1M | 75x | as long as short |
| BingX DOGE-USDC | +0.0100% | 8h | 0.09904 | +0.051% | — | $3.4M | — | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.09894 | −0.050% | $1.0M | $8.1M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.09919 | +0.200% | $256K | $120.2M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.09915 | +0.166% | $634K | $4.6M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.09920 | +0.212% | $146K | $251K | 25x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.09906 | +0.071% | $508K | $976K | 10x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.09908 | +0.095% | $255K | $555K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.09896 | −0.030% | $72K | $433K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.09893 | −0.059% | $24K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09901 | +0.017% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.09896 | −0.030% | $2K | $3.6M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09896 | −0.025% | $5.9M | $52.0M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.09894 | −0.051% | $91.4M | $19.2M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.09921 | +0.227% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09920 | +0.213% | $520K | $3.7M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.09895 | −0.036% | $19K | — | 3x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0106% | 1h | 0.09892 | −0.071% | $5.9M | $33.6M | 50x | as long as short |
| Reya DOGERUSDPERP | +0.0180% | 1h | 0.09903 | +0.040% | $2K | — | 20x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.09893 | −0.061% | $15.2M | $25.1M | 75x | as long as short |
| 01 Exchange DOGEUSD | +0.0224% | 1h | 0.09927 | +0.278% | $524 | $4K | 10x | as long as short |
| Phoenix DOGE | +0.0239% | 1h | 0.09920 | +0.210% | $66K | $281K | 10x | as long as short |
| Coinbase International DOGE-PERP-INTXshort | +0.0240% | 1h | 0.09898 | −0.010% | $2.0M | $24.0M | 50x | |
| GMX DOGE/USD [ETH-USDC] | L +0.0243% / S −0.0262% | 1h | 0.09904 | +0.053% | $304K | — | 200x | as long as short |
| Backpack DOGE_USDC_PERPlong | +0.0328% | 1h | 0.09899 | long leg | $387K | $1.1M | 15x | |
| RISEx DOGE/USDC | +0.0708% | 1h | 0.09928 | +0.293% | $315K | $477K | 10x | as long as short |
| Hyperliquid DOGE | +0.0835% | 1h | 0.09921 | +0.217% | $115.9M | $90.2M | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1039% | 1h | 0.09980 | +0.818% | $5K | $239K | 12x | as long as short |
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Arcus DOGE-USD
Bulk DOGE-USD
MEXC DOGE_USDT
KuCoin DOGEUSDTM
BingX DOGE-USDC
Variational Omni DOGE
edgeX DOGEUSDC
GRVT DOGE_USDT_Perp
ApeX Omni DOGEUSDT
Nado DOGE-PERP
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
GMX DOGE/USD [ETH-USDC]
RISEx DOGE/USDC
Hyperliquid DOGE
Injective DOGE/USDC PERP