Funding you earn now, next payment 00:00 UTC+0.0373%/8h= +40.8% APRnext payment +$3.73 per $10,000 · paid last 24h −0.002%
Price spread now: Phemex against Bitget−0.110%56s7-day average +0.038% · you buy dearer than you sell
Net, funding: paid 7d − costs−$35as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$380.383% of the position
Funding, last 7 days+0.035%+$4 on $10k
+Price spread, last 3 days (all we have)+0.138%+$14 · spread now −0.110%, 7d avg +0.038%
=Funding pays, the price is against you. Phemex is 0.148% cheaper against Bitget than usual: you would sell low and buy high (spread −0.110% now, against its 7-day average of +0.038%). If the spread goes back, that is −$15 on $10k: about 32 hours of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.035% in total) that is about 29 days. The two prices were read 56 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 7 days it paid 0.035% in total (about 1.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.73 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 | Bitget DOGEUSDT | 0.1004 | −0.0273 | get 0.0273% / 8h | 1h 52m | $153.6M | $261.9M | 75x |
| Short | Phemex DOGEUSDT | 0.1003 | 0.0100 | get 0.0100% / 8h | 1h 52m | $92.9M | $19.1M | 50x |
Bitget DOGEUSDT
Phemex DOGEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Bitget. 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
- $78.33
- Price spread: −0.110% → +0.038%
- −$14.75
- Slippage, 4 orders
- −$14.26
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- $25.32
- Costs to cover
- 0.383%
- Break-even
- 4.7 days
Slippage from Bitget: live order book, 2 min ago; Phemex: live order book, 2 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 Bitget live order book, 2 min ago | 0.50 bp | 7.5 bp −$7 | 9.1 bp −$91 | 21.2 bp −$2,121 | 68.5 bp −$34.3K |
| Sell Phemex live order book, 2 min ago | 3.98 bp | 10.5 bp −$10 | 17.2 bp −$172 | 36.3 bp −$3,628 | 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 DOGEUSDTlong | −0.0273% | 8h | 0.1004 | long leg | $153.6M | $261.9M | 75x | |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.1004 | +0.057% | $379K | $4.4M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S −0.0001% | 1h | 0.1004 | +0.023% | $32K | — | 150x | as long as short |
| dYdX DOGE-USD | +0.0018% | 1h | 0.1004 | −0.009% | $225K | $44K | 10x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0019% | 1h | 0.1003 | −0.016% | $627K | $106K | 25x | as long as short |
| Phoenix DOGE | +0.0081% | 1h | 0.1008 | +0.406% | $16K | $222K | 10x | as long as short |
| Gate DOGE_USDT | +0.0087% | 8h | 0.1004 | +0.080% | $241.8M | $120.7M | 75x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.1004 | +0.064% | $771K | $5.3M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0096% | 8h | 0.1004 | +0.070% | $1K | $355K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1005 | +0.120% | $680K | $744K | 10x | as long as short |
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
dYdX DOGE-USD
Deribit DOGE_USDC-PERPETUAL
Phoenix DOGE
Gate DOGE_USDT
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 | 0.1005 | +0.130% | $5.0M | $41.3M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.1004 | +0.036% | $337K | $498K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.1004 | +0.060% | $319.1M | $1.28B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.1004 | +0.010% | $161.8M | $403.6M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1004 | +0.050% | $109.9M | $909.0M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.1005 | +0.149% | $28K | $76K | 10x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1005 | +0.130% | $110.5M | $213.9M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1005 | +0.110% | $66.0M | $39.4M | 75x | as long as short |
| BingX DOGE-USDC | +0.0100% | 8h | 0.1004 | +0.010% | — | $3.4M | — | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.1003 | −0.073% | $947K | $7.8M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1006 | +0.210% | $277K | $112.8M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1007 | +0.334% | $641K | $4.6M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1005 | +0.139% | $145K | $238K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.1004 | +0.090% | $272K | $534K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.1004 | +0.070% | $72K | $417K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1004 | +0.030% | $25K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1005 | +0.093% | $36K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1004 | 0.000% | $2K | $3.5M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1003 | −0.046% | $6.0M | $48.4M | 75x | as long as short |
| Phemex DOGEUSDTshort | +0.0100% | 8h | 0.1003 | −0.110% | $92.9M | $19.1M | 50x | |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09939 | −0.965% | $381K | $14K | 10x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.1004 | +0.023% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1004 | +0.014% | $548K | $3.6M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1004 | +0.077% | $19K | — | 3x | as long as short |
| 01 Exchange DOGEUSD | +0.0168% | 1h | 0.1005 | +0.101% | $530 | $4K | 10x | as long as short |
| Reya DOGERUSDPERP | +0.0175% | 1h | 0.1005 | +0.137% | $2K | — | 20x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0216% | 1h | 0.1004 | +0.050% | $2.0M | $22.9M | 50x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.1003 | −0.030% | $15.1M | $24.2M | 75x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0245% / S −0.0266% | 1h | 0.1004 | +0.025% | $312K | — | 200x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0363% | 1h | 0.1003 | −0.031% | $6.0M | $32.0M | 50x | as long as short |
| Backpack DOGE_USDC_PERP | +0.0368% | 1h | 0.1003 | −0.090% | $529K | $936K | 15x | as long as short |
| Hyperliquid DOGE | +0.0381% | 1h | 0.1006 | +0.219% | $110.6M | $80.8M | 10x | as long as short |
| RISEx DOGE/USDC | +0.0702% | 1h | 0.1005 | +0.154% | $315K | $472K | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.0966% | 1h | 0.1007 | +0.339% | $5K | $207K | 12x | as long as short |
Aster DOGEUSDT
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Arcus 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
SoDEX DOGE-USD
HTX DOGE-USDT
Bulk DOGE-USD
Paradex DOGE-USD-PERP
Extended DOGE-USD
Aevo DOGE-PERP
01 Exchange DOGEUSD
Reya DOGERUSDPERP
Coinbase International DOGE-PERP-INTX
BloFin DOGE-USDT
GMX DOGE/USD [ETH-USDC]
Kraken Futures PF_DOGEUSD
Backpack DOGE_USDC_PERP
Hyperliquid DOGE
RISEx DOGE/USDC
Injective DOGE/USDC PERP