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Funding arb · Price arb /

DOGE

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 22:00 UTC−0.0007%/8h= −0.7% APRpaid last 24h −0.019%
Price spread now: OKX against Backpack+0.091%46s7-day average +0.010% · you sell dearer than you buy
Net, funding: paid 7d − costs−$31as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$250.249% of the position
Long on BackpackShort on OKX
What this pair did over the last
the charts below follow
Funding, last 7 days−0.056%−$6 on $10k
Price spread, last 4 days (all we have)+0.034%+$3 · spread now +0.091%, 7d avg +0.010%
Together, before fees−0.022%−$2 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.081% dearer against Backpack than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.010%. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBackpack DOGE_USDC_PERP0.098820.0107pay 0.0013% / 1h50m 20s$523K$803K15x
ShortOKX DOGE-USDT-SWAP0.098910.0100get 0.0100% / 8h2h 50m$107.5M$883.9M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

OKX against Backpack. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

click an exchange to add or hide it
latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
−$1.37
Price spread: +0.091% → +0.010%
$8.12
Slippage, 4 orders
−$4.94
Fee Backpack: 5 bp × 2 orders
−$10
Fee OKX: 5 bp × 2 orders
−$10
Net
−$18.19
Costs to cover
0.249%
Break-even
never at this rate
Slippage from Backpack: live order book, 38 min ago; OKX: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Backpack live order book, 38 min ago0.50 bp6.7 bp −$7454.2 bp −$4,542doesn't fitdoesn't fit
Sell OKX live order book, 4 min ago0.50 bp6.3 bp −$69.5 bp −$9519.9 bp −$1,99452.4 bp −$26.2K

DOGE on 44 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget DOGEUSDT−0.0278%8h0.09881−0.010%$151.6M$259.7M75xas long as short
Kalshi KXDOGEPERP0.0000%8h0.09881−0.014%$335K$4.2M2.8xas long as short
Deribit DOGE_USDC-PERPETUAL0.0000%1h0.098820.000%$618K$88K25xas long as short
gTrade (Gains Network) DOGE/USDL +0.0001% / S −0.0001%1h0.09888+0.060%$32K—150xas long as short
Gate DOGE_USDT+0.0062%8h0.09883+0.010%$234.9M$118.2M75xas long as short
dYdX DOGE-USD+0.0065%1h0.09891+0.091%$222K$44K10xas long as short
Phoenix DOGE+0.0080%1h0.09967+0.858%$15K$225K10xas long as short
Katana Perps DOGE-USD+0.0095%8h0.09885+0.030%$2K$335K10xas long as short
Lighter DOGE+0.0096%1h0.09896+0.138%$797K$5.0M15xas long as short
Nado DOGE-PERP+0.0100%1h0.09889+0.071%$628K$694K10xas long as short
Show all 44 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster DOGEUSDT+0.0100%8h0.09889+0.069%$4.8M$40.2M75xas long as short
Pacifica DOGE+0.0100%1h0.09892+0.097%$339K$524K20xas long as short
Binance DOGEUSDT+0.0100%8h0.09888+0.066%$317.1M$1.25B75xas long as short
Bybit DOGEUSDT+0.0100%8h0.09888+0.061%$154.3M$393.5M75xas long as short
OKX DOGE-USDT-SWAPshort+0.0100%8h0.09891+0.091%$107.5M$883.9M50x
Arcus DOGE-USD+0.0100%1h0.09891+0.091%$28K$75K10xas long as short
Bulk DOGE-USD+0.0100%1h0.09895+0.132%$379K$19K10xas long as short
MEXC DOGE_USDT+0.0100%8h0.09891+0.091%$110.9M$201.7M300xas long as short
KuCoin DOGEUSDTM+0.0100%8h0.09894+0.121%$65.3M$38.7M75xas long as short
BingX DOGE-USDT+0.0100%8h0.09890+0.081%—$73.1M—as long as short
Variational Omni DOGE+0.0100%8h0.09879−0.035%$1.1M$7.6M—as long as short
edgeX DOGEUSDC+0.0100%4h0.09950+0.691%$264K$110.1M20xas long as short
GRVT DOGE_USDT_Perp+0.0100%8h0.09992+1.117%$631K$4.7M10xas long as short
ApeX Omni DOGEUSDT+0.0100%1h0.09950+0.688%$142K$222K25xas long as short
Polymarket Perps DOGE-USD+0.0100%1h0.09893+0.112%$275K$546K10xas long as short
Orderly PERP_DOGE_USDC+0.0100%8h0.09889+0.071%$72K$363K50xas long as short
Derive DOGE-PERP+0.0100%1h0.09888+0.059%$24K$1K10xas long as short
SunX DOGE-USDT+0.0100%8h0.09885+0.033%$35K$2.1M30xas long as short
SoDEX DOGE-USD+0.0100%1h0.09877−0.051%$2K$3.3M10xas long as short
HTX DOGE-USDT+0.0100%8h0.09880−0.019%$6.0M$46.1M75xas long as short
Phemex DOGEUSDT+0.0100%8h0.09878−0.040%$91.7M$18.9M50xas long as short
Paradex DOGE-USD-PERP+0.0100%8h0.09888+0.056%$19K$3K30xas long as short
Extended DOGE-USD+0.0104%1h0.09888+0.058%$542K$3.5M50xas long as short
Aevo DOGE-PERP+0.0104%1h0.09890+0.082%$19K—3xas long as short
Backpack DOGE_USDC_PERPlong+0.0107%1h0.09882long leg$523K$803K15x
Reya DOGERUSDPERP+0.0173%1h0.09891+0.093%$2K—20xas long as short
BloFin DOGE-USDT+0.0220%8h0.098820.000%$15.3M$23.6M75xas long as short
Coinbase International DOGE-PERP-INTX+0.0224%1h0.09881−0.010%$2.0M$22.1M50xas long as short
GMX DOGE/USD [ETH-USDC]L +0.0243% / S −0.0263%1h0.09887+0.052%$305K—200xas long as short
Kraken Futures PF_DOGEUSD+0.0289%1h0.09879−0.029%$6.8M$30.3M50xas long as short
01 Exchange DOGEUSD+0.0432%1h0.09885+0.034%$522$4K10xas long as short
RISEx DOGE/USDC+0.0536%1h0.09892+0.101%$311K$469K10xas long as short
Hyperliquid DOGE+0.0586%1h0.09904+0.228%$111.5M$76.9M10xas long as short
Injective DOGE/USDC PERP+0.1013%1h0.09930+0.486%$5K$153K12xas long as short