Funding you earn now, next payment 08:00 UTC−0.0419%/8h= −45.9% APRnext payment −$4.19 per $10,000 · paid last 24h 0.000%
Price spread now: Phemex against BingX−0.139%7-day average +0.051% · you buy dearer than you sell
Net, funding: paid 7d − costs−$42as in the Funding arb table
Net, price: spread back to 7d avg − costs−$62as in the Price arb table
costs, in and out, $10k−$430.430% of the position
Funding, last 7 days+0.005%$0 on $10k
+Price spread, last 3 days (all we have)+0.166%+$17 · spread now −0.139%, 7d avg +0.051%
=Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Phemex is 0.190% cheaper against BingX than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of +0.051%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.005% in total (about 0.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$4.19 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 | BingX DOGE-USDC | 0.1009 | 0.0100 | pay 0.0100% / 8h | 7h 39m | — | $3.4M | — |
| Short | Phemex DOGEUSDT | 0.1008 | −0.0319 | pay 0.0319% / 8h | 7h 39m | $93.0M | $18.4M | 50x |
BingX DOGE-USDC
Phemex DOGEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against BingX. 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
- −$88.04
- Price spread: −0.139% → +0.051%
- −$19.02
- Slippage, 4 orders
- −$20.98
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$150.04
- Costs to cover
- 0.430%
- Break-even
- never at this rate
Slippage from BingX: live order book, 5 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 BingX live order book, 5 min ago | 1.50 bp | 8.4 bp −$8 | 15.0 bp −$150 | 34.6 bp −$3,462 | 110.6 bp −$55.3K |
| Sell Phemex live order book, 4 min ago | 3.99 bp | 16.1 bp −$16 | 23.2 bp −$232 | 46.6 bp −$4,665 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Phemex DOGEUSDTshort | −0.0319% | 8h | 0.1008 | −0.139% | $93.0M | $18.4M | 50x | |
| Bitget DOGEUSDT | −0.0192% | 8h | 0.1008 | −0.119% | $153.5M | $270.8M | 75x | as long as short |
| Kraken Futures PF_DOGEUSD | −0.0077% | 1h | 0.1008 | −0.152% | $6.1M | $33.9M | 50x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.1008 | −0.142% | $401K | $4.8M | 2.8x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | 0.0000% | 1h | 0.1008 | −0.121% | $606K | $121K | 25x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.1008 | −0.124% | $24K | — | 150x | as long as short |
| dYdX DOGE-USD | +0.0029% | 1h | 0.1007 | −0.191% | $226K | $44K | 10x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.1009 | −0.025% | $843K | $5.7M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0100% | 8h | 0.1007 | −0.168% | $851 | $403K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1008 | −0.144% | $517K | $973K | 10x | as long as short |
Bitget DOGEUSDT
Kraken Futures PF_DOGEUSD
Kalshi KXDOGEPERP
Deribit DOGE_USDC-PERPETUAL
gTrade (Gains Network) DOGE/USD
dYdX DOGE-USD
Lighter DOGE
Katana Perps DOGE-USD
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 | 0.1009 | +0.010% | $5.0M | $46.6M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.1008 | −0.153% | $336K | $517K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.1009 | −0.006% | $320.5M | $1.40B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.1009 | −0.030% | $159.8M | $438.3M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1009 | −0.020% | $110.6M | $972.7M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.1009 | −0.050% | $28K | $82K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.10000 | −0.904% | $383K | $12K | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.1009 | −0.030% | $244.9M | $128.4M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1009 | +0.010% | $114.1M | $223.5M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1009 | +0.030% | $66.2M | $42.5M | 75x | as long as short |
| BingX DOGE-USDClong | +0.0100% | 8h | 0.1009 | long leg | — | $3.4M | — | |
| Backpack DOGE_USDC_PERP | +0.0100% | 1h | 0.1009 | 0.000% | $369K | $1.1M | 15x | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.1006 | −0.268% | $1.0M | $8.1M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1004 | −0.539% | $264K | $122.4M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1006 | −0.299% | $640K | $4.6M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1000 | −0.902% | $147K | $260K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.1007 | −0.168% | $265K | $556K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.1008 | −0.129% | $73K | $433K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1008 | −0.129% | $25K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1008 | −0.092% | $36K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1008 | −0.149% | $2K | $3.8M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1008 | −0.140% | $6.0M | $52.5M | 75x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.1008 | −0.085% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1009 | −0.040% | $603K | $3.8M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1008 | −0.132% | $19K | — | 3x | as long as short |
| Reya DOGERUSDPERP | +0.0181% | 1h | 0.1008 | −0.130% | $2K | — | 20x | as long as short |
| 01 Exchange DOGEUSD | +0.0200% | 1h | 0.1008 | −0.083% | $532 | $4K | 10x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.1007 | −0.228% | $15.4M | $25.6M | 75x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0240% | 1h | 0.1008 | −0.099% | $2.0M | $24.9M | 50x | as long as short |
| Phoenix DOGE | +0.0240% | 1h | 0.1002 | −0.683% | $67K | $283K | 10x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0244% / S −0.0263% | 1h | 0.1008 | −0.136% | $311K | — | 200x | as long as short |
| RISEx DOGE/USDC | +0.0701% | 1h | 0.1008 | −0.064% | $319K | $478K | 10x | as long as short |
| Hyperliquid DOGE | +0.0852% | 1h | 0.1011 | +0.139% | $121.7M | $92.5M | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.0973% | 1h | 0.1011 | +0.188% | $5K | $239K | 12x | as long as short |
Aster DOGEUSDT
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Arcus DOGE-USD
Bulk DOGE-USD
Gate DOGE_USDT
MEXC DOGE_USDT
KuCoin DOGEUSDTM
Backpack DOGE_USDC_PERP
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
01 Exchange DOGEUSD
BloFin DOGE-USDT
Coinbase International DOGE-PERP-INTX
Phoenix DOGE
GMX DOGE/USD [ETH-USDC]
RISEx DOGE/USDC
Hyperliquid DOGE
Injective DOGE/USDC PERP