Funding you earn now, next payment 22:00 UTC+0.0158%/8h= +17.3% APRnext payment +$0.20 per $10,000 · paid last 24h +0.085%
Price spread now: Hyperliquid against Backpack+0.011%7-day average +0.094% · you sell dearer than you buy
Net, funding: paid 7d − costs−$15as in the Funding arb table
Net, price: spread back to 7d avg − costs−$32as in the Price arb table
costs, in and out, $10k−$230.232% of the position
Funding, last 7 days+0.080%+$8 on $10k
+Price spread, last 4 days (all we have)+0.138%+$14 · spread now +0.011%, 7d avg +0.094%
=Together, before fees+0.218%+ Points / potential airdropHyperliquid: Season 2 · farm board+$22 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hyperliquid is 0.083% cheaper against Backpack than usual: you would sell low and buy high (spread +0.011% now, against its 7-day average of +0.094%). If the spread goes back, that is −$8 on $10k: about 42 hours of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.080% in total) that is about 7.2 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack DOGE_USDC_PERP | 0.09954 | 0.0253 | pay 0.0032% / 1h | 18m 47s | $525K | $931K | 15x |
| Short | Hyperliquid DOGE | 0.09955 | 0.0410 | get 0.0051% / 1h | 18m 47s | $109.9M | $79.2M | 10x |
Backpack DOGE_USDC_PERP
Hyperliquid DOGEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid 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
- $33.09
- Price spread: +0.011% → +0.094%
- −$8.3
- Slippage, 4 orders
- −$4.21
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $1.57
- Costs to cover
- 0.232%
- Break-even
- 6.7 days
Slippage from Backpack: live order book, 5 min ago; Hyperliquid: live order book, 5 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, 5 min ago | 0.50 bp | 5.5 bp −$6 | 428.2 bp −$4,282 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 5 min ago | 0.05 bp | 5.6 bp −$6 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget DOGEUSDT | −0.0280% | 8h | 0.09937 | −0.171% | $152.6M | $260.8M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.09978 | +0.246% | $370K | $4.4M | 2.8x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | 0.0000% | 1h | 0.09962 | +0.081% | $623K | $103K | 25x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S −0.0001% | 1h | 0.09957 | +0.034% | $32K | — | 150x | as long as short |
| Gate DOGE_USDT | +0.0069% | 8h | 0.09949 | −0.050% | $236.9M | $120.2M | 75x | as long as short |
| Phoenix DOGE | +0.0080% | 1h | 0.09960 | +0.060% | $15K | $225K | 10x | as long as short |
| dYdX DOGE-USD | +0.0085% | 1h | 0.09983 | +0.287% | $224K | $44K | 10x | as long as short |
| Katana Perps DOGE-USD | +0.0095% | 8h | 0.09976 | +0.221% | $1K | $343K | 10x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.09960 | +0.060% | $784K | $5.1M | 15x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.09969 | +0.151% | $632K | $697K | 10x | as long as short |
Bitget DOGEUSDT
Kalshi KXDOGEPERP
Deribit DOGE_USDC-PERPETUAL
gTrade (Gains Network) DOGE/USD
Gate DOGE_USDT
Phoenix DOGE
dYdX DOGE-USD
Katana Perps DOGE-USD
Lighter DOGE
Nado DOGE-PERPShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster DOGEUSDT | +0.0100% | 8h | 0.09951 | −0.029% | $4.8M | $40.6M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.09988 | +0.341% | $337K | $495K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.09951 | −0.025% | $315.3M | $1.27B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09944 | −0.100% | $157.7M | $398.6M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09949 | −0.050% | $108.8M | $893.6M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.09983 | +0.291% | $28K | $75K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09975 | +0.211% | $382K | $15K | 10x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09953 | −0.010% | $112.2M | $219.3M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09952 | −0.020% | $65.3M | $39.3M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.09947 | −0.070% | — | $73.4M | — | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.09967 | +0.130% | $937K | $7.8M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.09972 | +0.185% | $265K | $112.6M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.09955 | +0.008% | $625K | $4.6M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.09970 | +0.161% | $142K | $224K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.09970 | +0.165% | $273K | $529K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.09960 | +0.060% | $57K | $397K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.09960 | +0.064% | $24K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09980 | +0.258% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.09956 | +0.020% | $2K | $3.4M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09954 | −0.002% | $6.0M | $47.2M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.09948 | −0.060% | $92.3M | $19.0M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.09989 | +0.349% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09952 | −0.020% | $550K | $3.6M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.09960 | +0.057% | $19K | — | 3x | as long as short |
| Reya DOGERUSDPERP | +0.0174% | 1h | 0.09964 | +0.096% | $2K | — | 20x | as long as short |
| 01 Exchange DOGEUSD | +0.0176% | 1h | 0.09979 | +0.247% | $527 | $4K | 10x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.09957 | +0.030% | $15.0M | $23.9M | 75x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0224% | 1h | 0.09970 | +0.161% | $2.0M | $22.6M | 50x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0244% / S −0.0247% | 1h | 0.09958 | +0.038% | $318K | — | 200x | as long as short |
| Backpack DOGE_USDC_PERPlong | +0.0253% | 1h | 0.09954 | long leg | $525K | $931K | 15x | |
| Kraken Futures PF_DOGEUSD | +0.0287% | 1h | 0.09954 | 0.000% | $6.0M | $31.8M | 50x | as long as short |
| Hyperliquid DOGEshort | +0.0410% | 1h | 0.09955 | +0.011% | $109.9M | $79.2M | 10x | |
| RISEx DOGE/USDC | +0.0536% | 1h | 0.09985 | +0.308% | $313K | $472K | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1013% | 1h | 0.1000 | +0.462% | $5K | $180K | 12x | as long as short |
Aster DOGEUSDT
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Arcus DOGE-USD
Bulk DOGE-USD
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
Reya DOGERUSDPERP
01 Exchange DOGEUSD
BloFin DOGE-USDT
Coinbase International DOGE-PERP-INTX
GMX DOGE/USD [ETH-USDC]
Kraken Futures PF_DOGEUSD
RISEx DOGE/USDC
Injective DOGE/USDC PERP