Funding arb · Price arb /

DOGE

all DOGE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against Binance+0.253%7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$3as in the Price arb table

costs, in and out, $10k−$240.241% of the position

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.040%+$4 on $10k

Price spread, last 4 days (all we have)−0.231%−$23 · spread now +0.253%, 7d avg +0.043%

Together, before fees−0.191%+ Points / potential airdropLighter: Season 3 · farm board−$19 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: Lighter is 0.210% dearer against Binance than usual: you sell high and buy low, +$21 on $10k if it goes back to its 7-day average of +0.043%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance DOGEUSDT	0.1010	0.0100	pay 0.0100% / 8h	1h 37m	$324.9M	$1.30B	75x
Short	Lighter DOGE	0.1012	0.0096	get 0.0012% / 1h	37m 56s	$791K	$5.3M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Binance. 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

Position, each leg$Hold fordaysFee BinancebpFee LighterbpOrdersPrice spread, now +0.253%Rate

Funding earned: −$0.84
Price spread: +0.253% → +0.043%: $21
Slippage, 4 orders: −$14.13
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$3.98
Costs to cover: 0.241%
Break-even: never at this rate

Slippage from Binance: live order book, 6 min ago; Lighter: live order book, 5 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 Binance live order book, 6 min ago	0.50 bp	5.9 bp −$6	9.2 bp −$92	20.4 bp −$2,044	46.1 bp −$23.1K
Sell Lighter live order book, 5 min ago	2.41 bp	9.7 bp −$10	18.4 bp −$184	34.5 bp −$3,446	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	−0.0270%	8h	0.1008	−0.130%	$154.3M	$264.5M	75x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.1014	+0.393%	$429K	$4.6M	2.8x	as long as short
Deribit DOGE_USDC-PERPETUAL	0.0000%	1h	0.1013	+0.297%	$613K	$105K	25x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S −0.0001%	1h	0.1015	+0.515%	$32K	—	150x	as long as short
dYdX DOGE-USD	+0.0011%	1h	0.1014	+0.434%	$228K	$44K	10x	as long as short
Phoenix DOGE	+0.0081%	1h	0.1017	+0.711%	$16K	$222K	10x	as long as short
Gate DOGE_USDT	+0.0088%	8h	0.1009	−0.041%	$242.6M	$122.5M	75x	as long as short
Lighter DOGEshort	+0.0096%	1h	0.1012	+0.253%	$791K	$5.3M	15x
Katana Perps DOGE-USD	+0.0096%	8h	0.1014	+0.484%	$848	$361K	10x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.1015	+0.514%	$712K	$779K	10x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster DOGEUSDT	+0.0100%	8h	0.1010	+0.075%	$5.2M	$42.6M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.1015	+0.509%	$340K	$503K	20x	as long as short
Binance DOGEUSDTlong	+0.0100%	8h	0.1010	long leg	$324.9M	$1.30B	75x
Bybit DOGEUSDT	+0.0100%	8h	0.1009	−0.031%	$163.5M	$411.1M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.1009	−0.011%	$110.1M	$927.2M	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.1016	+0.593%	$29K	$76K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.1017	+0.753%	$390K	$17K	10x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.1010	+0.029%	$111.8M	$215.8M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.1010	+0.029%	$66.0M	$39.9M	75x	as long as short
BingX DOGE-USDC	+0.0100%	8h	0.1010	+0.068%	—	$3.4M	—	as long as short
Variational Omni DOGE	+0.0100%	8h	0.1017	+0.745%	$954K	$7.8M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.1017	+0.726%	$279K	$114.1M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.1016	+0.663%	$647K	$4.5M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.1018	+0.831%	$148K	$240K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.1015	+0.514%	$273K	$535K	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.1015	+0.504%	$74K	$432K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.1015	+0.491%	$25K	$1K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.1014	+0.400%	$36K	$2.2M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.1013	+0.306%	$2K	$3.5M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.1012	+0.218%	$6.1M	$49.4M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.1012	+0.247%	$93.8M	$19.0M	50x	as long as short
Paradex DOGE-USD-PERP	+0.0101%	8h	0.1015	+0.486%	$18K	$5K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.1010	+0.025%	$562K	$3.6M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.1012	+0.269%	$19K	—	3x	as long as short
Reya DOGERUSDPERP	+0.0176%	1h	0.1015	+0.566%	$2K	—	20x	as long as short
01 Exchange DOGEUSD	+0.0192%	1h	0.1015	+0.563%	$536	$4K	10x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0216%	1h	0.1013	+0.355%	$2.1M	$23.5M	50x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.1013	+0.306%	$15.2M	$25.0M	75x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0247% / S −0.0271%	1h	0.1015	+0.518%	$318K	—	200x	as long as short
Kraken Futures PF_DOGEUSD	+0.0360%	1h	0.1012	+0.263%	$6.0M	$32.3M	50x	as long as short
Hyperliquid DOGE	+0.0426%	1h	0.1011	+0.090%	$111.5M	$81.8M	10x	as long as short
Backpack DOGE_USDC_PERP	+0.0437%	1h	0.1013	+0.286%	$542K	$940K	15x	as long as short
RISEx DOGE/USDC	+0.0702%	1h	0.1015	+0.578%	$318K	$477K	10x	as long as short
Injective DOGE/USDC PERP	+0.0966%	1h	0.1022	+1.227%	$5K	$207K	12x	as long as short