Funding you earn now, next payment 05:00 UTC+0.0142%/8h= +15.5% APRnext payment +$0.18 per $10,000 · paid last 24h −0.050%
Price spread now: Deribit against Backpack+0.082%7-day average +0.010% · you sell dearer than you buy
Net, funding: paid 7d − costs−$52as in the Funding arb table
Net, price: spread back to 7d avg − costs−$24as in the Price arb table
costs, in and out, $10k−$310.312% of the position
Funding, last 7 days−0.208%−$21 on $10k
+Price spread, last 4 days (all we have)−0.008%−$1 · spread now +0.082%, 7d avg +0.010%
=Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Deribit is 0.072% dearer against Backpack than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.010%. Mind the row above: over the last 7 days funding on this pair cost −0.208%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack DOGE_USDC_PERP | 0.1016 | 0.0100 | pay 0.0013% / 1h | 13m 25s | $340K | $1.2M | 15x |
| Short | Deribit DOGE_USDC-PERPETUAL | 0.1017 | 0.0242 | get 0.0030% / 1h | 13m 25s | $577K | $247K | 25x |
Backpack DOGE_USDC_PERP
Deribit DOGE_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- $29.82
- Price spread: +0.082% → +0.010%
- $7.17
- Slippage, 4 orders
- −$14.18
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $5.81
- Costs to cover
- 0.312%
- Break-even
- 5.6 days
Slippage from Backpack: live order book, 1 min ago; Deribit: live order book, 40 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, 1 min ago | 0.49 bp | 5.9 bp −$6 | 16.0 bp −$160 | doesn't fit | doesn't fit |
| Sell Deribit live order book, 40 min ago | 5.70 bp | 9.7 bp −$10 | 54.4 bp −$544 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.1017 | +0.136% | $688K | $6.3M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.1016 | −0.008% | $24K | — | 150x | as long as short |
| dYdX DOGE-USD | +0.0020% | 1h | 0.1016 | −0.005% | $228K | $70K | 10x | as long as short |
| Bitget DOGEUSDT | +0.0080% | 8h | 0.1017 | +0.089% | $132.2M | $317.4M | 75x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.1017 | +0.104% | $751K | $6.5M | 15x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1017 | +0.128% | $557K | $1.1M | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.1017 | +0.079% | $4.9M | $54.9M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.1017 | +0.061% | $324K | $519K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.1017 | +0.079% | $334.3M | $1.62B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.1016 | +0.030% | $165.9M | $501.2M | 75x | as long as short |
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
dYdX DOGE-USD
Bitget DOGEUSDT
Lighter DOGE
Nado DOGE-PERP
Aster DOGEUSDT
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDTShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1017 | +0.049% | $115.5M | $1.15B | 50x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.1029 | +1.319% | $395K | $16K | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.1017 | +0.069% | $250.7M | $146.9M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1017 | +0.039% | $116.1M | $246.3M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1017 | +0.049% | $66.8M | $48.3M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.1017 | +0.108% | — | $79.4M | — | as long as short |
| Backpack DOGE_USDC_PERPlong | +0.0100% | 1h | 0.1016 | long leg | $340K | $1.2M | 15x | |
| Variational Omni DOGE | +0.0100% | 8h | 0.1019 | +0.292% | $1.2M | $8.5M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1019 | +0.319% | $325K | $136.7M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1019 | +0.272% | $642K | $4.6M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1022 | +0.581% | $154K | $330K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.1016 | −0.010% | $264K | $1.0M | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.1017 | +0.059% | $69K | $468K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1017 | +0.040% | $19K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1017 | +0.087% | $35K | $2.3M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1017 | +0.059% | $2K | $5.1M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1017 | +0.044% | $6.0M | $65.6M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.1017 | +0.089% | $93.4M | $17.0M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.1017 | +0.044% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1016 | +0.021% | $491K | $4.1M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1017 | +0.043% | $19K | — | 3x | as long as short |
| Katana Perps DOGE-USD | +0.0120% | 8h | 0.1017 | +0.138% | $1K | $503K | 10x | as long as short |
| Reya DOGERUSDPERP | +0.0193% | 1h | 0.1017 | +0.071% | $2K | — | 20x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.1018 | +0.236% | $16.4M | $27.0M | 75x | as long as short |
| Phoenix DOGE | +0.0235% | 1h | 0.1017 | +0.117% | $19K | $292K | 10x | as long as short |
| Deribit DOGE_USDC-PERPETUALshort | +0.0242% | 1h | 0.1017 | +0.082% | $577K | $247K | 25x | |
| Kraken Futures PF_DOGEUSD | +0.0247% | 1h | 0.1017 | +0.041% | $5.4M | $39.2M | 50x | as long as short |
| 01 Exchange DOGEUSD | +0.0248% | 1h | 0.1017 | +0.076% | $452 | $4K | 10x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0255% / S −0.0309% | 1h | 0.1017 | +0.056% | $328K | — | 200x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0304% | 1h | 0.1018 | +0.207% | $2.2M | $33.4M | 50x | as long as short |
| Hyperliquid DOGE | +0.0443% | 1h | 0.1017 | +0.128% | $126.8M | $111.3M | 10x | as long as short |
| Arcus DOGE-USD | +0.0634% | 1h | 0.1018 | +0.236% | $110K | $207K | 10x | as long as short |
| RISEx DOGE/USDC | +0.0728% | 1h | 0.1018 | +0.174% | $411K | $431K | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1062% | 1h | 0.1053 | +3.632% | $6K | $242K | 12x | as long as short |
OKX DOGE-USDT-SWAP
Bulk DOGE-USD
Gate DOGE_USDT
MEXC DOGE_USDT
KuCoin DOGEUSDTM
BingX DOGE-USDT
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
Katana Perps DOGE-USD
Reya DOGERUSDPERP
BloFin DOGE-USDT
Phoenix DOGE
Kraken Futures PF_DOGEUSD
01 Exchange DOGEUSD
GMX DOGE/USD [ETH-USDC]
Coinbase International DOGE-PERP-INTX
Hyperliquid DOGE
Arcus DOGE-USD
RISEx DOGE/USDC
Injective DOGE/USDC PERP