Funding arb · Price arb /

DOGE

all DOGE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.009%

Price spread now: Backpack against BloFin0.000%7-day average −0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$270.265% of the position

Long on BloFin Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.165%−$17 on $10k

Price spread, last 4 days (all we have)−0.036%−$4 · spread now 0.000%, 7d avg −0.020%

Together, before fees−0.202%−$20 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.020%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin DOGE-USDT	0.09943	0.0220	pay 0.0220% / 8h	52m 33s	$15.5M	$26.9M	75x
Short	Backpack DOGE_USDC_PERP	0.09943	0.0100	get 0.0013% / 1h	52m 33s	$301K	$1.3M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against BloFin. 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 BloFinbpFee BackpackbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$25.2
Price spread: 0.000% → −0.020%: $1.98
Slippage, 4 orders: −$4.54
Fee BloFin: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$49.76
Costs to cover: 0.265%
Break-even: never at this rate

Slippage from BloFin: live order book, 6 min ago; Backpack: live order book, 1 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 BloFin live order book, 6 min ago	1.00 bp	8.2 bp −$8	10.9 bp −$109	22.7 bp −$2,272	39.1 bp −$19.5K
Sell Backpack live order book, 1 min ago	0.50 bp	5.8 bp −$6	18.0 bp −$180	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
Kraken Futures PF_DOGEUSD	−0.0060%	1h	0.09936	−0.070%	$5.6M	$40.6M	50x	as long as short
dYdX DOGE-USD	0.0000%	1h	0.09943	0.000%	$223K	$69K	10x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.09940	−0.030%	$609K	$6.5M	2.8x	as long as short
Deribit DOGE_USDC-PERPETUAL	0.0000%	1h	0.09939	−0.038%	$570K	$252K	25x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.09937	−0.064%	$35K	—	150x	as long as short
Bitget DOGEUSDT	+0.0030%	8h	0.09938	−0.050%	$140.9M	$344.9M	75x	as long as short
Injective DOGE/USDC PERP	+0.0033%	1h	0.1053	+5.904%	$6K	$242K	12x	as long as short
Polymarket Perps DOGE-USD	+0.0044%	1h	0.09942	−0.010%	$259K	$1.2M	10x	as long as short
Lighter DOGE	+0.0096%	1h	0.09953	+0.100%	$841K	$6.8M	15x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.09940	−0.030%	$536K	$1.1M	10x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid DOGE	+0.0100%	1h	0.09952	+0.094%	$123.8M	$117.1M	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.09943	+0.002%	$4.5M	$58.9M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.09941	−0.020%	$317K	$501K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.09945	+0.022%	$328.5M	$1.72B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.09944	+0.010%	$163.9M	$522.5M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.09945	+0.020%	$115.9M	$1.20B	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.09941	−0.020%	$17K	$308K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.09979	+0.364%	$383K	$16K	10x	as long as short
Gate DOGE_USDT	+0.0100%	8h	0.09934	−0.091%	$248.8M	$155.3M	75x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.09940	−0.030%	$111.5M	$257.1M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.09945	+0.020%	$66.3M	$50.0M	75x	as long as short
BingX DOGE-USDT	+0.0100%	8h	0.09937	−0.060%	—	$53.3M	—	as long as short
Backpack DOGE_USDC_PERPshort	+0.0100%	1h	0.09943	0.000%	$301K	$1.3M	15x
Variational Omni DOGE	+0.0100%	8h	0.09950	+0.067%	$1.1M	$8.7M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.09979	+0.358%	$304K	$139.7M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.09970	+0.272%	$628K	$4.6M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.09970	+0.272%	$145K	$341K	25x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.09936	−0.070%	$70K	$470K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.09935	−0.085%	$19K	$7K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.09962	+0.191%	$35K	$2.3M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.09937	−0.060%	$2K	$5.4M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.09936	−0.074%	$5.9M	$68.8M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.09942	−0.010%	$91.1M	$16.8M	50x	as long as short
Paradex DOGE-USD-PERP	+0.0100%	8h	0.09936	−0.072%	$18K	$5K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.09934	−0.086%	$488K	$4.1M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.09939	−0.040%	$19K	—	3x	as long as short
Katana Perps DOGE-USD	+0.0107%	8h	0.09944	+0.010%	$831	$537K	10x	as long as short
Phoenix DOGE	+0.0160%	1h	0.09959	+0.165%	$18K	$382K	10x	as long as short
Reya DOGERUSDPERP	+0.0199%	1h	0.09942	−0.013%	$2K	—	20x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0216%	1h	0.09938	−0.050%	$1.9M	$34.6M	50x	as long as short
BloFin DOGE-USDTlong	+0.0220%	8h	0.09943	long leg	$15.5M	$26.9M	75x
GMX DOGE/USD [ETH-USDC]	L +0.0250% / S −0.0297%	1h	0.09936	−0.072%	$313K	—	200x	as long as short
01 Exchange DOGEUSD	+0.0288%	1h	0.09953	+0.099%	$443	$4K	10x	as long as short
RISEx DOGE/USDC	+0.0731%	1h	0.09949	+0.062%	$400K	$458K	10x	as long as short