Funding you earn now, next payment 22:00 UTC−0.0007%/8h= −0.7% APRpaid last 24h −0.021%
Price spread now: Phemex against Backpack−0.040%7-day average +0.024% · you buy dearer than you sell
Net, funding: paid 7d − costs−$48as in the Funding arb table
Net, price: spread back to 7d avg − costs−$51as in the Price arb table
costs, in and out, $10k−$440.443% of the position
Funding, last 7 days−0.035%−$4 on $10k
+Price spread, last 3 days (all we have)+0.097%+$10 · spread now −0.040%, 7d avg +0.024%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.064% cheaper against Backpack than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.024%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack DOGE_USDC_PERP | 0.09882 | 0.0107 | pay 0.0013% / 1h | 50m 24s | $523K | $803K | 15x |
| Short | Phemex DOGEUSDT | 0.09878 | 0.0100 | get 0.0100% / 8h | 2h 50m | $91.7M | $18.9M | 50x |
Backpack DOGE_USDC_PERP
Phemex DOGEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- −$1.37
- Price spread: −0.040% → +0.024%
- −$6.42
- Slippage, 4 orders
- −$22.33
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$52.12
- Costs to cover
- 0.443%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 38 min ago; Phemex: live order book, 4 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, 38 min ago | 0.50 bp | 6.7 bp −$7 | 454.2 bp −$4,542 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 4 min ago | 1.00 bp | 13.1 bp −$13 | 34.7 bp −$347 | 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 | −0.0278% | 8h | 0.09881 | −0.010% | $151.6M | $259.7M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.09881 | −0.014% | $335K | $4.2M | 2.8x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | 0.0000% | 1h | 0.09882 | 0.000% | $618K | $88K | 25x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S −0.0001% | 1h | 0.09888 | +0.060% | $32K | — | 150x | as long as short |
| Gate DOGE_USDT | +0.0062% | 8h | 0.09883 | +0.010% | $234.9M | $118.2M | 75x | as long as short |
| dYdX DOGE-USD | +0.0065% | 1h | 0.09891 | +0.091% | $222K | $44K | 10x | as long as short |
| Phoenix DOGE | +0.0080% | 1h | 0.09967 | +0.858% | $15K | $225K | 10x | as long as short |
| Katana Perps DOGE-USD | +0.0095% | 8h | 0.09885 | +0.030% | $2K | $335K | 10x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.09896 | +0.138% | $797K | $5.0M | 15x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.09889 | +0.071% | $628K | $694K | 10x | as long as short |
Bitget DOGEUSDT
Kalshi KXDOGEPERP
Deribit DOGE_USDC-PERPETUAL
gTrade (Gains Network) DOGE/USD
Gate DOGE_USDT
dYdX DOGE-USD
Phoenix DOGE
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 | 0.09889 | +0.069% | $4.8M | $40.2M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.09892 | +0.097% | $339K | $524K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.09888 | +0.066% | $317.1M | $1.25B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09888 | +0.061% | $154.3M | $393.5M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09891 | +0.091% | $107.5M | $883.9M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.09891 | +0.091% | $28K | $75K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09895 | +0.132% | $379K | $19K | 10x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09891 | +0.091% | $110.9M | $201.7M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09894 | +0.121% | $65.3M | $38.7M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.09890 | +0.081% | — | $73.1M | — | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.09879 | −0.035% | $1.1M | $7.6M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.09950 | +0.691% | $264K | $110.1M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.09992 | +1.117% | $631K | $4.7M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.09950 | +0.688% | $142K | $222K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.09893 | +0.112% | $275K | $546K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.09889 | +0.071% | $72K | $363K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.09888 | +0.059% | $24K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09885 | +0.033% | $35K | $2.1M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.09877 | −0.051% | $2K | $3.3M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09880 | −0.019% | $6.0M | $46.1M | 75x | as long as short |
| Phemex DOGEUSDTshort | +0.0100% | 8h | 0.09878 | −0.040% | $91.7M | $18.9M | 50x | |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.09888 | +0.056% | $19K | $3K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09888 | +0.058% | $542K | $3.5M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.09890 | +0.082% | $19K | — | 3x | as long as short |
| Backpack DOGE_USDC_PERPlong | +0.0107% | 1h | 0.09882 | long leg | $523K | $803K | 15x | |
| Reya DOGERUSDPERP | +0.0173% | 1h | 0.09891 | +0.093% | $2K | — | 20x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.09882 | 0.000% | $15.3M | $23.6M | 75x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0224% | 1h | 0.09881 | −0.010% | $2.0M | $22.1M | 50x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0243% / S −0.0263% | 1h | 0.09887 | +0.052% | $305K | — | 200x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0289% | 1h | 0.09879 | −0.029% | $6.8M | $30.3M | 50x | as long as short |
| 01 Exchange DOGEUSD | +0.0432% | 1h | 0.09885 | +0.034% | $522 | $4K | 10x | as long as short |
| RISEx DOGE/USDC | +0.0536% | 1h | 0.09892 | +0.101% | $311K | $469K | 10x | as long as short |
| Hyperliquid DOGE | +0.0586% | 1h | 0.09904 | +0.228% | $111.5M | $76.9M | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1013% | 1h | 0.09930 | +0.486% | $5K | $153K | 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
Paradex DOGE-USD-PERP
Extended DOGE-USD
Aevo DOGE-PERP
Reya DOGERUSDPERP
BloFin DOGE-USDT
Coinbase International DOGE-PERP-INTX
GMX DOGE/USD [ETH-USDC]
Kraken Futures PF_DOGEUSD
01 Exchange DOGEUSD
RISEx DOGE/USDC
Hyperliquid DOGE
Injective DOGE/USDC PERP