Funding you earn now, next payment 00:00 UTC−0.0313%/8h= −34.3% APRpaid last 24h −0.029%
Price spread now: Orderly against Backpack−0.149%7-day average −0.002% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.096%−$10 on $10k
+Price spread, last 3 days (all we have)+0.198%+$20 · spread now −0.149%, 7d avg −0.002%
=Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Orderly is 0.147% cheaper against Backpack than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.002%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.096% in total (about -5.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack DOGE_USDC_PERP | 0.1006 | 0.0413 | pay 0.0052% / 1h | 59m 05s | $537K | $959K | 15x |
| Short | Orderly PERP_DOGE_USDC | 0.1005 | 0.0100 | get 0.0100% / 8h | 59m 05s | $73K | $432K | 50x |
Backpack DOGE_USDC_PERP
Orderly PERP_DOGE_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- −$65.81
- Price spread: −0.149% → −0.002%
- −$14.69
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$96.5
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Backpack: live order book, 20 min ago; Orderly: no order-book sample. Net counts fees only.
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, 20 min ago | 0.50 bp | 6.1 bp −$6 | 351.6 bp −$3,516 | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.0254% | 8h | 0.1004 | −0.179% | $153.5M | $267.0M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.1003 | −0.302% | $415K | $4.7M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S −0.0001% | 1h | 0.1005 | −0.177% | $32K | — | 150x | as long as short |
| dYdX DOGE-USD | +0.0066% | 1h | 0.1002 | −0.380% | $225K | $44K | 10x | as long as short |
| Phoenix DOGE | +0.0081% | 1h | 0.1002 | −0.392% | $66K | $221K | 10x | as long as short |
| Gate DOGE_USDT | +0.0094% | 8h | 0.1005 | −0.129% | $242.2M | $124.5M | 75x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.1006 | −0.039% | $792K | $5.4M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0097% | 8h | 0.1002 | −0.407% | $837 | $375K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1002 | −0.402% | $572K | $865K | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.1005 | −0.093% | $5.0M | $44.2M | 75x | as long as short |
Bitget DOGEUSDT
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
dYdX DOGE-USD
Phoenix DOGE
Gate DOGE_USDT
Lighter DOGE
Katana Perps DOGE-USD
Nado DOGE-PERP
Aster DOGEUSDTShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica DOGE | +0.0100% | 1h | 0.1003 | −0.338% | $334K | $504K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.1006 | −0.070% | $319.9M | $1.33B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.1005 | −0.099% | $159.7M | $423.4M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1006 | −0.070% | $109.8M | $937.2M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.1003 | −0.328% | $28K | $77K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.1004 | −0.266% | $385K | $12K | 10x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1006 | −0.079% | $116.2M | $217.3M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1005 | −0.099% | $66.3M | $41.3M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.1006 | −0.070% | — | $74.8M | — | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.1001 | −0.565% | $1.0M | $8.1M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1003 | −0.360% | $277K | $116.9M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1001 | −0.496% | $638K | $4.5M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1003 | −0.328% | $147K | $246K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.1002 | −0.407% | $262K | $549K | 10x | as long as short |
| Orderly PERP_DOGE_USDCshort | +0.0100% | 8h | 0.1005 | −0.149% | $73K | $432K | 50x | |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1005 | −0.160% | $25K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1003 | −0.344% | $36K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1005 | −0.089% | $2K | $3.6M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1005 | −0.097% | $6.0M | $50.7M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.1005 | −0.099% | $93.1M | $19.2M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.1002 | −0.400% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1005 | −0.119% | $554K | $3.6M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1005 | −0.118% | $19K | — | 3x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0104% | 1h | 0.1005 | −0.088% | $6.0M | $32.9M | 50x | as long as short |
| Reya DOGERUSDPERP | +0.0178% | 1h | 0.1003 | −0.363% | $2K | — | 20x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0208% | 1h | 0.1006 | −0.077% | $609K | $109K | 25x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.1005 | −0.159% | $15.3M | $25.0M | 75x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0240% | 1h | 0.1004 | −0.238% | $2.0M | $23.8M | 50x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0245% / S −0.0209% | 1h | 0.1004 | −0.231% | $344K | — | 200x | as long as short |
| 01 Exchange DOGEUSD | +0.0272% | 1h | 0.1003 | −0.350% | $529 | $4K | 10x | as long as short |
| Backpack DOGE_USDC_PERPlong | +0.0413% | 1h | 0.1006 | long leg | $537K | $959K | 15x | |
| RISEx DOGE/USDC | +0.0708% | 1h | 0.1003 | −0.338% | $314K | $475K | 10x | as long as short |
| Hyperliquid DOGE | +0.0978% | 1h | 0.1007 | +0.089% | $115.0M | $85.4M | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1039% | 1h | 0.1005 | −0.129% | $5K | $239K | 12x | as long as short |
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
Derive DOGE-PERP
SunX DOGE-USDT
SoDEX DOGE-USD
HTX DOGE-USDT
Phemex DOGEUSDT
Paradex DOGE-USD-PERP
Extended DOGE-USD
Aevo DOGE-PERP
Kraken Futures PF_DOGEUSD
Reya DOGERUSDPERP
Deribit DOGE_USDC-PERPETUAL
BloFin DOGE-USDT
Coinbase International DOGE-PERP-INTX
GMX DOGE/USD [ETH-USDC]
01 Exchange DOGEUSD
RISEx DOGE/USDC
Hyperliquid DOGE
Injective DOGE/USDC PERP