Funding you earn now, next payment 21:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h −0.021%
Price spread now: Phoenix against Binance+0.151%7-day average +0.037% · you sell dearer than you buy
Net, funding: paid 7d − costs−$55as in the Funding arb table
Net, price: spread back to 7d avg − costs−$25as in the Price arb table
costs, in and out, $10k−$370.366% of the position
Funding, last 7 days−0.185%−$18 on $10k
+Price spread, last 3 days (all we have)+0.068%+$7 · spread now +0.151%, 7d avg +0.037%
=The price spread pays, funding is against you. Phoenix is 0.114% dearer against Binance than usual: you sell high and buy low (spread +0.151% now, against its 7-day average of +0.037%): +$11 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 19 days. At the pace of the last 7 days (−0.185% in total) that is about 4.3 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance DOGEUSDT | 0.09885 | 0.0100 | pay 0.0100% / 8h | 2h 44m | $316.7M | $1.25B | 75x |
| Short | Phoenix DOGE | 0.09900 | 0.0080 | get 0.0010% / 1h | 44m 43s | $15K | $225K | 10x |
Binance DOGEUSDT
Phoenix DOGEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Binance. 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
- −$4.24
- Price spread: +0.151% → +0.037%
- $11.38
- Slippage, 4 orders
- −$19.64
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$29.49
- Costs to cover
- 0.366%
- Break-even
- never at this rate
Slippage from Binance: live order book, 14 min ago; Phoenix: live order book, 39 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, 14 min ago | 0.50 bp | 5.8 bp −$6 | 8.7 bp −$87 | 16.9 bp −$1,688 | 47.2 bp −$23.6K |
| Sell Phoenix live order book, 39 min ago | 1.01 bp | 12.3 bp −$12 | 43.0 bp −$430 | 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 | −0.0279% | 8h | 0.09875 | −0.098% | $151.6M | $259.3M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.09890 | +0.055% | $354K | $4.3M | 2.8x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | 0.0000% | 1h | 0.09897 | +0.121% | $619K | $88K | 25x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S −0.0001% | 1h | 0.09892 | +0.075% | $31K | — | 150x | as long as short |
| dYdX DOGE-USD | +0.0042% | 1h | 0.09896 | +0.111% | $222K | $44K | 10x | as long as short |
| Gate DOGE_USDT | +0.0065% | 8h | 0.09878 | −0.067% | $234.9M | $118.4M | 75x | as long as short |
| Phoenix DOGEshort | +0.0080% | 1h | 0.09900 | +0.151% | $15K | $225K | 10x | |
| Katana Perps DOGE-USD | +0.0095% | 8h | 0.09893 | +0.084% | $2K | $334K | 10x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.09886 | +0.010% | $796K | $5.0M | 15x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.09895 | +0.105% | $628K | $695K | 10x | as long as short |
Bitget DOGEUSDT
Kalshi KXDOGEPERP
Deribit DOGE_USDC-PERPETUAL
gTrade (Gains Network) DOGE/USD
dYdX DOGE-USD
Gate DOGE_USDT
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 | 0.09886 | +0.018% | $4.9M | $40.1M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.09899 | +0.142% | $337K | $503K | 20x | as long as short |
| Binance DOGEUSDTlong | +0.0100% | 8h | 0.09885 | long leg | $316.7M | $1.25B | 75x | |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09880 | −0.047% | $153.8M | $393.7M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09886 | +0.014% | $107.4M | $882.6M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.09900 | +0.155% | $28K | $75K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09895 | +0.105% | $379K | $19K | 10x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09883 | −0.017% | $120.3M | $212.0M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09883 | −0.017% | $65.0M | $38.9M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.09882 | −0.027% | — | $73.2M | — | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.09894 | +0.090% | $931K | $7.8M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.09885 | +0.007% | $262K | $110.8M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.09895 | +0.105% | $622K | $4.7M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.09890 | +0.054% | $141K | $222K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.09891 | +0.066% | $274K | $545K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.09895 | +0.105% | $72K | $359K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.09893 | +0.083% | $24K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09900 | +0.159% | $35K | $2.1M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.09894 | +0.095% | $2K | $3.3M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09894 | +0.097% | $6.0M | $46.2M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.09891 | +0.064% | $91.8M | $19.0M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.09897 | +0.123% | $19K | $3K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09881 | −0.041% | $544K | $3.5M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.09896 | +0.111% | $19K | — | 3x | as long as short |
| Backpack DOGE_USDC_PERP | +0.0121% | 1h | 0.09889 | +0.044% | $524K | $855K | 15x | as long as short |
| Reya DOGERUSDPERP | +0.0173% | 1h | 0.09893 | +0.086% | $2K | — | 20x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.09890 | +0.054% | $15.3M | $23.6M | 75x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0224% | 1h | 0.09896 | +0.115% | $2.0M | $22.1M | 50x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0243% / S −0.0263% | 1h | 0.09891 | +0.064% | $305K | — | 200x | as long as short |
| 01 Exchange DOGEUSD | +0.0280% | 1h | 0.09895 | +0.108% | $522 | $4K | 10x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0289% | 1h | 0.09896 | +0.119% | $6.8M | $30.3M | 50x | as long as short |
| Hyperliquid DOGE | +0.0500% | 1h | 0.09893 | +0.081% | $110.4M | $77.7M | 10x | as long as short |
| RISEx DOGE/USDC | +0.0536% | 1h | 0.09903 | +0.181% | $312K | $469K | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1013% | 1h | 0.09920 | +0.358% | $5K | $153K | 12x | as long as short |
Aster DOGEUSDT
Pacifica DOGE
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
Phemex DOGEUSDT
Paradex DOGE-USD-PERP
Extended DOGE-USD
Aevo DOGE-PERP
Backpack DOGE_USDC_PERP
Reya DOGERUSDPERP
BloFin DOGE-USDT
Coinbase International DOGE-PERP-INTX
GMX DOGE/USD [ETH-USDC]
01 Exchange DOGEUSD
Kraken Futures PF_DOGEUSD
Hyperliquid DOGE
RISEx DOGE/USDC
Injective DOGE/USDC PERP