Funding you earn now, next payment 00:00 UTC−0.0393%/8h= −43.1% APRnext payment −$0.49 per $10,000 · paid last 24h −0.022%
Price spread now: SoDEX against Backpack−0.049%50s7-day average +0.005% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$210.212% of the position
Funding, last 3 days (all we have)−0.013%−$1 on $10k
+Price spread, last 3 days (all we have)+0.106%+$11 · spread now −0.049%, 7d avg +0.005%
=Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and SoDEX is 0.055% cheaper against Backpack than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.005%). Swap the legs. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.013% in total (about -1.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.49 per $10,000. 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 | 0.1012 | 0.0493 | pay 0.0062% / 1h | 55m 20s | $540K | $960K | 15x |
| Short | SoDEX DOGE-USD | 0.1011 | 0.0100 | get 0.0013% / 1h | 55m 20s | $2K | $3.6M | 10x |
Backpack DOGE_USDC_PERP
SoDEX DOGE-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
SoDEX 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
- −$82.59
- Price spread: −0.049% → +0.005%
- −$5.47
- Slippage, 4 orders
- −$3.15
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Net
- −$109.21
- Costs to cover
- 0.212%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 24 min ago; SoDEX: 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, 24 min ago | 0.50 bp | 6.1 bp −$6 | 351.6 bp −$3,516 | doesn't fit | doesn't fit |
| Sell SoDEX live order book, 4 min ago | 0.50 bp | 4.5 bp −$4 | 8.4 bp −$84 | 148.1 bp −$14.8K | 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 | −0.0251% | 8h | 0.1011 | −0.128% | $154.2M | $267.4M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.1007 | −0.483% | $418K | $4.7M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S −0.0001% | 1h | 0.1012 | −0.028% | $33K | — | 150x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0017% | 1h | 0.1012 | −0.031% | $612K | $109K | 25x | as long as short |
| Phoenix DOGE | +0.0081% | 1h | 0.1012 | −0.030% | $67K | $281K | 10x | as long as short |
| Gate DOGE_USDT | +0.0089% | 8h | 0.1011 | −0.069% | $244.2M | $124.9M | 75x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.1012 | −0.004% | $796K | $5.4M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0097% | 8h | 0.1012 | +0.010% | $1K | $377K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1012 | −0.020% | $601K | $893K | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.1012 | +0.001% | $5.0M | $44.5M | 75x | as long as short |
Bitget DOGEUSDT
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
Deribit DOGE_USDC-PERPETUAL
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 | 0.1012 | −0.036% | $337K | $504K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.1012 | +0.010% | $323.0M | $1.34B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.1012 | −0.030% | $159.8M | $426.1M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1012 | −0.020% | $110.4M | $945.3M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.1013 | +0.079% | $28K | $77K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.1004 | −0.818% | $385K | $12K | 10x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1012 | −0.010% | $115.9M | $217.6M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1012 | −0.010% | $66.6M | $41.3M | 75x | as long as short |
| BingX DOGE-USDC | +0.0100% | 8h | 0.1011 | −0.049% | — | $3.4M | — | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.1006 | −0.552% | $1.0M | $8.1M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1007 | −0.450% | $276K | $117.0M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1008 | −0.435% | $642K | $4.5M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1008 | −0.385% | $148K | $247K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.1012 | −0.030% | $264K | $549K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.1012 | −0.020% | $74K | $433K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1011 | −0.045% | $25K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1012 | +0.033% | $36K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USDshort | +0.0100% | 1h | 0.1011 | −0.049% | $2K | $3.6M | 10x | |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1012 | +0.020% | $6.0M | $50.8M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.1012 | +0.010% | $93.7M | $19.2M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.1011 | −0.071% | $18K | $5K | 30x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0104% | 1h | 0.1011 | −0.050% | $6.0M | $33.0M | 50x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1011 | −0.088% | $557K | $3.6M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1012 | −0.038% | $19K | — | 3x | as long as short |
| dYdX DOGE-USD | +0.0158% | 1h | 0.1011 | −0.070% | $227K | $44K | 10x | as long as short |
| Reya DOGERUSDPERP | +0.0178% | 1h | 0.1012 | −0.029% | $2K | — | 20x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.1012 | +0.020% | $15.4M | $25.2M | 75x | as long as short |
| 01 Exchange DOGEUSD | +0.0232% | 1h | 0.1013 | +0.084% | $535 | $4K | 10x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0240% | 1h | 0.1012 | −0.010% | $2.0M | $24.0M | 50x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0245% / S −0.0267% | 1h | 0.1012 | −0.032% | $314K | — | 200x | as long as short |
| Backpack DOGE_USDC_PERPlong | +0.0493% | 1h | 0.1012 | long leg | $540K | $960K | 15x | |
| RISEx DOGE/USDC | +0.0708% | 1h | 0.1013 | +0.080% | $317K | $475K | 10x | as long as short |
| Hyperliquid DOGE | +0.0938% | 1h | 0.1013 | +0.143% | $115.9M | $85.6M | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1039% | 1h | 0.1014 | +0.208% | $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-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
HTX DOGE-USDT
Phemex DOGEUSDT
Paradex DOGE-USD-PERP
Kraken Futures PF_DOGEUSD
Extended DOGE-USD
Aevo DOGE-PERP
dYdX DOGE-USD
Reya DOGERUSDPERP
BloFin DOGE-USDT
01 Exchange DOGEUSD
Coinbase International DOGE-PERP-INTX
GMX DOGE/USD [ETH-USDC]
RISEx DOGE/USDC
Hyperliquid DOGE
Injective DOGE/USDC PERP