Funding you earn now, next payment 22:00 UTC−0.0149%/8h= −16.3% APRnext payment −$0.19 per $10,000 · paid last 24h −0.019%
Price spread now: Polymarket Perps against Backpack−0.048%7-day average +0.008% · you buy dearer than you sell
Net, funding: paid 7d − costs−$65as in the Funding arb table
Net, price: spread back to 7d avg − costs−$33as in the Price arb table
costs, in and out, $10k−$270.272% of the position
Funding, last 7 days−0.377%−$38 on $10k
+Price spread, last 3 days (all we have)+0.288%+$29 · spread now −0.048%, 7d avg +0.008%
=Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Polymarket Perps is 0.057% cheaper against Backpack than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.008%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack DOGE_USDC_PERP | 0.09921 | 0.0249 | pay 0.0031% / 1h | 15m 30s | $524K | $931K | 15x |
| Short | Polymarket Perps DOGE-USD | 0.09916 | 0.0100 | get 0.0013% / 1h | 15m 30s | $271K | $529K | 10x |
Backpack DOGE_USDC_PERP
Polymarket Perps DOGE-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Polymarket Perps 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
- −$31.32
- Price spread: −0.048% → +0.008%
- −$5.68
- Slippage, 4 orders
- −$9.2
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$64.21
- Costs to cover
- 0.272%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 8 min ago; Polymarket Perps: live order book, 7 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, 8 min ago | 0.50 bp | 5.5 bp −$6 | 428.2 bp −$4,282 | doesn't fit | doesn't fit |
| Sell Polymarket Perps live order book, 7 min ago | 2.65 bp | 7.8 bp −$8 | 8.0 bp −$80 | 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 | −0.0281% | 8h | 0.09911 | −0.101% | $151.9M | $261.1M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.09926 | +0.048% | $368K | $4.4M | 2.8x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | 0.0000% | 1h | 0.09915 | −0.057% | $620K | $106K | 25x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S −0.0001% | 1h | 0.09937 | +0.159% | $32K | — | 150x | as long as short |
| Gate DOGE_USDT | +0.0073% | 8h | 0.09921 | 0.000% | $236.3M | $120.5M | 75x | as long as short |
| Phoenix DOGE | +0.0080% | 1h | 0.09978 | +0.572% | $15K | $225K | 10x | as long as short |
| dYdX DOGE-USD | +0.0091% | 1h | 0.09927 | +0.056% | $223K | $44K | 10x | as long as short |
| Katana Perps DOGE-USD | +0.0096% | 8h | 0.09923 | +0.020% | $840 | $344K | 10x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.09934 | +0.130% | $781K | $5.1M | 15x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.09929 | +0.081% | $629K | $698K | 10x | as long as short |
Bitget DOGEUSDT
Kalshi KXDOGEPERP
Deribit DOGE_USDC-PERPETUAL
gTrade (Gains Network) DOGE/USD
Gate DOGE_USDT
Phoenix DOGE
dYdX DOGE-USD
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 | 0.09922 | +0.014% | $4.8M | $40.6M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.09932 | +0.112% | $335K | $495K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.09938 | +0.167% | $314.9M | $1.27B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09933 | +0.121% | $158.5M | $399.2M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09921 | 0.000% | $108.7M | $891.8M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.09929 | +0.081% | $28K | $76K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09975 | +0.544% | $382K | $15K | 10x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09924 | +0.030% | $112.5M | $219.9M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09922 | +0.010% | $65.0M | $39.3M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.09937 | +0.161% | — | $73.5M | — | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.09967 | +0.463% | $937K | $7.8M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.09944 | +0.229% | $264K | $112.8M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.09945 | +0.237% | $634K | $4.6M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.09940 | +0.192% | $144K | $226K | 25x | as long as short |
| Polymarket Perps DOGE-USDshort | +0.0100% | 1h | 0.09916 | −0.048% | $271K | $529K | 10x | |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.09915 | −0.060% | $57K | $397K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.09913 | −0.082% | $24K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09929 | +0.079% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.09914 | −0.071% | $2K | $3.4M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09912 | −0.088% | $6.0M | $47.4M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.09915 | −0.060% | $92.0M | $19.0M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.09930 | +0.096% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09922 | +0.007% | $547K | $3.6M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.09916 | −0.050% | $19K | — | 3x | as long as short |
| 01 Exchange DOGEUSD | +0.0168% | 1h | 0.09926 | +0.053% | $524 | $4K | 10x | as long as short |
| Reya DOGERUSDPERP | +0.0174% | 1h | 0.09920 | −0.011% | $2K | — | 20x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.09937 | +0.161% | $15.1M | $23.9M | 75x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0224% | 1h | 0.09912 | −0.091% | $2.0M | $22.5M | 50x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0244% / S −0.0247% | 1h | 0.09935 | +0.146% | $317K | — | 200x | as long as short |
| Backpack DOGE_USDC_PERPlong | +0.0249% | 1h | 0.09921 | long leg | $524K | $931K | 15x | |
| Kraken Futures PF_DOGEUSD | +0.0288% | 1h | 0.09913 | −0.076% | $6.0M | $31.8M | 50x | as long as short |
| Hyperliquid DOGE | +0.0408% | 1h | 0.09931 | +0.100% | $109.5M | $79.4M | 10x | as long as short |
| RISEx DOGE/USDC | +0.0536% | 1h | 0.09931 | +0.105% | $312K | $472K | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1013% | 1h | 0.09980 | +0.595% | $5K | $180K | 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
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
01 Exchange DOGEUSD
Reya DOGERUSDPERP
BloFin DOGE-USDT
Coinbase International DOGE-PERP-INTX
GMX DOGE/USD [ETH-USDC]
Kraken Futures PF_DOGEUSD
Hyperliquid DOGE
RISEx DOGE/USDC
Injective DOGE/USDC PERP