Funding you earn now, next payment 03:00 UTC+0.0972%/8h= +106.4% APRnext payment +$1.21 per $10,000 · paid last 24h +0.177%
Price spread now: Injective against Backpack+0.080%7-day average +0.196% · you sell dearer than you buy
Net, funding: paid 7d − costs+$75as in the Funding arb table
Net, price: spread back to 7d avg − costs−$85as in the Price arb table
costs, in and out, $10k−$730.731% of the position
Funding, last 7 days+1.478%+$148 on $10k
+Price spread, last 4 days (all we have)−0.069%−$7 · spread now +0.080%, 7d avg +0.196%
=Funding pays, the price is against you. Injective is 0.116% cheaper against Backpack than usual: you would sell low and buy high (spread +0.080% now, against its 7-day average of +0.196%). If the spread goes back, that is −$12 on $10k: about 10 hours of funding at the current rate (+$29 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack DOGE_USDC_PERP | 0.09992 | 0.0100 | pay 0.0013% / 1h | 45m 05s | $329K | $1.1M | 15x |
| Short | Injective DOGE/USDC PERP | 0.1000 | 0.1072 | get 0.0134% / 1h | 45m 05s | $5K | $239K | 12x |
Backpack DOGE_USDC_PERP
Injective DOGE/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- $204.09
- Price spread: +0.080% → +0.196%
- −$11.61
- Slippage, 4 orders
- −$63.07
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $119.38
- Costs to cover
- 0.731%
- Break-even
- 2.9 days
Slippage from Backpack: live order book, 4 min ago; Injective: live order book, 19 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 | 5.5 bp −$6 | 13.2 bp −$132 | doesn't fit | doesn't fit |
| Sell Injective live order book, 19 min ago | 29.97 bp | 30.0 bp −$30 | 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 | −0.0093% | 8h | 0.09985 | −0.070% | $151.2M | $274.0M | 75x | as long as short |
| dYdX DOGE-USD | 0.0000% | 1h | 0.09980 | −0.119% | $224K | $49K | 10x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.09985 | −0.069% | $445K | $5.1M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.09987 | −0.050% | $24K | — | 150x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.10000 | +0.079% | $815K | $6.1M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0099% | 8h | 0.09996 | +0.040% | $836 | $434K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.09996 | +0.040% | $533K | $991K | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.09995 | +0.028% | $4.7M | $48.5M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.09982 | −0.103% | $328K | $484K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.09995 | +0.030% | $320.6M | $1.43B | 75x | as long as short |
Bitget DOGEUSDT
dYdX DOGE-USD
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
Lighter DOGE
Katana Perps DOGE-USD
Nado DOGE-PERP
Aster DOGEUSDT
Pacifica DOGE
Binance DOGEUSDTShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09992 | 0.000% | $160.3M | $440.2M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09993 | +0.010% | $111.4M | $987.5M | 50x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09995 | +0.028% | $383K | $5K | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.09989 | −0.030% | $243.1M | $131.6M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09995 | +0.030% | $113.5M | $229.4M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09993 | +0.010% | $66.1M | $43.3M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.09992 | 0.000% | — | $76.2M | — | as long as short |
| Backpack DOGE_USDC_PERPlong | +0.0100% | 1h | 0.09992 | long leg | $329K | $1.1M | 15x | |
| Variational Omni DOGE | +0.0100% | 8h | 0.09980 | −0.123% | $997K | $8.2M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.09977 | −0.149% | $296K | $129.9M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.09971 | −0.207% | $635K | $4.4M | 10x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.09991 | −0.010% | $256K | $731K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.09994 | +0.020% | $70K | $440K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.09994 | +0.020% | $25K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09999 | +0.067% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.09995 | +0.030% | $2K | $3.9M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09988 | −0.044% | $5.9M | $56.3M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.09995 | +0.030% | $92.0M | $16.7M | 50x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09990 | −0.016% | $558K | $4.0M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.09993 | +0.009% | $19K | — | 3x | as long as short |
| Paradex DOGE-USD-PERP | +0.0105% | 8h | 0.09991 | −0.013% | $18K | $6K | 30x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0120% | 1h | 0.09996 | +0.043% | $597K | $118K | 25x | as long as short |
| Reya DOGERUSDPERP | +0.0186% | 1h | 0.09994 | +0.017% | $2K | — | 20x | as long as short |
| 01 Exchange DOGEUSD | +0.0200% | 1h | 0.1000 | +0.104% | $533 | $4K | 10x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.09993 | +0.010% | — | $25.2M | 75x | as long as short |
| Phoenix DOGE | +0.0240% | 1h | 0.1000 | +0.112% | $65K | $288K | 10x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0246% / S −0.0267% | 1h | 0.09986 | −0.055% | $311K | — | 200x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0248% | 1h | 0.1000 | +0.090% | $2.3M | $26.1M | 50x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0306% | 1h | 0.09993 | +0.013% | $5.7M | $35.0M | 50x | as long as short |
| ApeX Omni DOGEUSDT | +0.0405% | 1h | 0.09980 | −0.120% | $146K | $276K | 25x | as long as short |
| Hyperliquid DOGE | +0.0416% | 1h | 0.1000 | +0.120% | $122.0M | $99.9M | 10x | as long as short |
| RISEx DOGE/USDC | +0.0747% | 1h | 0.1000 | +0.099% | $403K | $367K | 10x | as long as short |
| Arcus DOGE-USD | +0.0781% | 1h | 0.1001 | +0.160% | $129K | $179K | 10x | as long as short |
| Injective DOGE/USDC PERPshort | +0.1072% | 1h | 0.1000 | +0.080% | $5K | $239K | 12x |
Bybit DOGEUSDT
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
Polymarket Perps DOGE-USD
Orderly PERP_DOGE_USDC
Derive DOGE-PERP
SunX DOGE-USDT
SoDEX DOGE-USD
HTX DOGE-USDT
Phemex DOGEUSDT
Extended DOGE-USD
Aevo DOGE-PERP
Paradex DOGE-USD-PERP
Deribit DOGE_USDC-PERPETUAL
Reya DOGERUSDPERP
01 Exchange DOGEUSD
BloFin DOGE-USDT
Phoenix DOGE
GMX DOGE/USD [ETH-USDC]
Coinbase International DOGE-PERP-INTX
Kraken Futures PF_DOGEUSD
ApeX Omni DOGEUSDT
Hyperliquid DOGE
RISEx DOGE/USDC
Arcus DOGE-USD