Funding you earn now, next payment 23:00 UTC−0.0055%/8h= −6.0% APRnext payment −$0.07 per $10,000 · paid last 24h +0.012%
Price spread now: Kraken Futures against Backpack−0.405%7-day average +0.020% · you buy dearer than you sell
Net, funding: paid 7d − costs−$33as in the Funding arb table
Net, price: spread back to 7d avg − costs−$74as in the Price arb table
costs, in and out, $10k−$320.317% of the position
Funding, last 7 days−0.008%−$1 on $10k
+Price spread, last 3 days (all we have)+0.458%+$46 · spread now −0.405%, 7d avg +0.020%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Kraken Futures is 0.425% cheaper against Backpack than usual: you would sell low and buy high (−$43 if the spread goes back to its 7-day average of +0.020%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack DOGE_USDC_PERP | 0.1014 | 0.0416 | pay 0.0052% / 1h | 42m 37s | $535K | $936K | 15x |
| Short | Kraken Futures PF_DOGEUSD | 0.1010 | 0.0361 | get 0.0045% / 1h | 42m 37s | $6.0M | $32.1M | 50x |
Backpack DOGE_USDC_PERP
Kraken Futures PF_DOGEUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- −$11.55
- Price spread: −0.405% → +0.020%
- −$42.5
- Slippage, 4 orders
- −$11.74
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$85.78
- Costs to cover
- 0.317%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 41 min ago; Kraken Futures: live order book, 1 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, 41 min ago | 0.50 bp | 5.5 bp −$6 | 428.2 bp −$4,282 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 1 min ago | 1.49 bp | 11.7 bp −$12 | 14.1 bp −$141 | 29.2 bp −$2,922 | 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 | −0.0272% | 8h | 0.1014 | −0.020% | $155.2M | $263.3M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.1011 | −0.357% | $404K | $4.5M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S −0.0001% | 1h | 0.1009 | −0.530% | $32K | — | 150x | as long as short |
| dYdX DOGE-USD | +0.0013% | 1h | 0.1012 | −0.168% | $227K | $44K | 10x | as long as short |
| Phoenix DOGE | +0.0081% | 1h | 0.1008 | −0.569% | $16K | $222K | 10x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0087% | 1h | 0.1009 | −0.495% | $611K | $105K | 25x | as long as short |
| Gate DOGE_USDT | +0.0093% | 8h | 0.1013 | −0.118% | $243.8M | $121.6M | 75x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.1014 | −0.067% | $793K | $5.3M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0096% | 8h | 0.1011 | −0.355% | $1K | $356K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1011 | −0.330% | $713K | $775K | 10x | as long as short |
Bitget DOGEUSDT
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
dYdX DOGE-USD
Phoenix DOGE
Deribit DOGE_USDC-PERPETUAL
Gate DOGE_USDT
Lighter DOGE
Katana Perps DOGE-USD
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 | 0.1013 | −0.089% | $5.2M | $42.1M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.1013 | −0.083% | $339K | $497K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.1014 | −0.059% | $322.7M | $1.29B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.1013 | −0.108% | $163.9M | $409.0M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1014 | −0.049% | $110.5M | $925.4M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.1017 | +0.296% | $29K | $76K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.1003 | −1.104% | $384K | $14K | 10x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1013 | −0.069% | $110.8M | $215.0M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1013 | −0.089% | $66.3M | $39.5M | 75x | as long as short |
| BingX DOGE-USDC | +0.0100% | 8h | 0.1013 | −0.079% | — | $3.4M | — | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.1003 | −1.059% | $934K | $7.8M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1006 | −0.852% | $276K | $113.4M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1006 | −0.817% | $641K | $4.5M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1006 | −0.809% | $147K | $240K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.1010 | −0.394% | $272K | $536K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.1009 | −0.542% | $73K | $417K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1009 | −0.548% | $25K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1010 | −0.452% | $36K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1010 | −0.414% | $2K | $3.5M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1012 | −0.217% | $6.1M | $48.9M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.1012 | −0.207% | $93.8M | $19.0M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0101% | 8h | 0.1013 | −0.070% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1015 | +0.121% | $561K | $3.6M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1009 | −0.500% | $19K | — | 3x | as long as short |
| Reya DOGERUSDPERP | +0.0176% | 1h | 0.1010 | −0.388% | $2K | — | 20x | as long as short |
| 01 Exchange DOGEUSD | +0.0184% | 1h | 0.1011 | −0.306% | $534 | $4K | 10x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0216% | 1h | 0.1011 | −0.306% | $2.0M | $23.2M | 50x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.1012 | −0.217% | $15.4M | $24.6M | 75x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0245% / S −0.0267% | 1h | 0.1009 | −0.538% | $314K | — | 200x | as long as short |
| Kraken Futures PF_DOGEUSDshort | +0.0361% | 1h | 0.1010 | −0.405% | $6.0M | $32.1M | 50x | |
| Backpack DOGE_USDC_PERPlong | +0.0416% | 1h | 0.1014 | long leg | $535K | $936K | 15x | |
| Hyperliquid DOGE | +0.0439% | 1h | 0.1014 | +0.030% | $111.8M | $81.5M | 10x | as long as short |
| RISEx DOGE/USDC | +0.0702% | 1h | 0.1011 | −0.320% | $317K | $474K | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.0966% | 1h | 0.1013 | −0.118% | $5K | $207K | 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-USDC
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
Coinbase International DOGE-PERP-INTX
BloFin DOGE-USDT
GMX DOGE/USD [ETH-USDC]
Hyperliquid DOGE
RISEx DOGE/USDC
Injective DOGE/USDC PERP