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Funding arb · Price arb /

DOGE

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Funding you earn now, next payment 04:00 UTC+0.0135%/8h= +14.8% APRnext payment +$0.17 per $10,000 · paid last 24h −0.002%
Price spread now: Phoenix against Bulk−1.186%7-day average +0.039% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$164as in the Price arb table
costs, in and out, $10k−$410.412% of the position
Long on BulkShort on Phoenix
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)−0.065%−$7 on $10k
Price spread, last 4 days (all we have)+1.373%+$137 · spread now −1.186%, 7d avg +0.039%
Together, before fees+1.308%+$131 on $10k · with fees, hour by hour
Funding pays, the price is against you. Phoenix is 1.226% cheaper against Bulk than usual: you would sell low and buy high (spread −1.186% now, against its 7-day average of +0.039%). If the spread goes back, that is −$123 on $10k: about 30 days of funding at the current rate (+$4 a day). Mind the row above: over the last 4 days funding on this pair cost −0.065%, so the current rate has only just turned in your favour.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBulk DOGE-USD0.10290.0100pay 0.0013% / 1h12m 58s$395K$16K10x
ShortPhoenix DOGE0.10170.0235get 0.0029% / 1h12m 58s$19K$292K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phoenix against Bulk. 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

Funding earned
$28.32
Price spread: −1.186% → +0.039%
−$122.55
Slippage, 4 orders
−$27.16
Fee Bulk: 3.5 bp × 2 orders
−$7
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
−$135.38
Costs to cover
0.412%
Break-even
40.5 days
Slippage from Bulk: live order book, 41 min ago; Phoenix: live order book, 35 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bulk live order book, 41 min ago4.76 bp8.3 bp −$88.3 bp −$8318.6 bp −$1,85830.5 bp −$15.2K
Sell Phoenix live order book, 35 min ago0.95 bp12.3 bp −$1243.0 bp −$430doesn't fitdoesn't fit

DOGE on 44 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Kalshi KXDOGEPERP0.0000%8h0.1017−1.190%$688K$6.3M2.8xas long as short
gTrade (Gains Network) DOGE/USDL +0.0001% / S 0.0000%1h0.1016−1.309%$24K—150xas long as short
dYdX DOGE-USD+0.0020%1h0.1016−1.307%$228K$70K10xas long as short
Bitget DOGEUSDT+0.0080%8h0.1016−1.331%$132.0M$317.5M75xas long as short
Lighter DOGE+0.0096%1h0.1017−1.224%$751K$6.5M15xas long as short
Nado DOGE-PERP+0.0100%1h0.1017−1.175%$557K$1.1M10xas long as short
Aster DOGEUSDT+0.0100%8h0.1017−1.241%$4.9M$54.9M75xas long as short
Pacifica DOGE+0.0100%1h0.1017−1.241%$324K$519K20xas long as short
Binance DOGEUSDT+0.0100%8h0.1016−1.283%$334.1M$1.62B75xas long as short
Bybit DOGEUSDT+0.0100%8h0.1016−1.302%$165.9M$501.4M75xas long as short
Show all 44 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX DOGE-USDT-SWAP+0.0100%8h0.1016−1.292%$115.7M$1.15B50xas long as short
Bulk DOGE-USDlong+0.0100%1h0.1029long leg$395K$16K10x
Gate DOGE_USDT+0.0100%8h0.1016−1.302%$250.3M$146.9M75xas long as short
MEXC DOGE_USDT+0.0100%8h0.1016−1.302%$115.4M$246.8M300xas long as short
KuCoin DOGEUSDTM+0.0100%8h0.1016−1.282%$66.8M$48.3M75xas long as short
BingX DOGE-USDT+0.0100%8h0.1016−1.292%—$79.4M—as long as short
Backpack DOGE_USDC_PERP+0.0100%1h0.1016−1.292%$338K$1.2M15xas long as short
Variational Omni DOGE+0.0100%8h0.1019−1.013%$1.2M$8.5M—as long as short
edgeX DOGEUSDC+0.0100%4h0.1019−0.987%$325K$136.7M20xas long as short
GRVT DOGE_USDT_Perp+0.0100%8h0.1019−1.033%$642K$4.6M10xas long as short
ApeX Omni DOGEUSDT+0.0100%1h0.1022−0.729%$154K$330K25xas long as short
Polymarket Perps DOGE-USD+0.0100%1h0.1016−1.311%$264K$1.0M10xas long as short
Orderly PERP_DOGE_USDC+0.0100%8h0.1016−1.350%$69K$468K50xas long as short
Derive DOGE-PERP+0.0100%1h0.1015−1.378%$19K$1K10xas long as short
SunX DOGE-USDT+0.0100%8h0.1016−1.265%$35K$2.3M30xas long as short
SoDEX DOGE-USD+0.0100%1h0.1016−1.272%$2K$5.1M10xas long as short
HTX DOGE-USDT+0.0100%8h0.1016−1.277%$6.0M$65.6M75xas long as short
Phemex DOGEUSDT+0.0100%8h0.1016−1.282%$93.5M$17.2M50xas long as short
Paradex DOGE-USD-PERP+0.0100%8h0.1017−1.258%$18K$5K30xas long as short
Extended DOGE-USD+0.0104%1h0.1016−1.355%$491K$4.1M50xas long as short
Aevo DOGE-PERP+0.0104%1h0.1016−1.343%$19K—3xas long as short
Deribit DOGE_USDC-PERPETUAL+0.0114%1h0.1016−1.305%$577K$247K25xas long as short
Katana Perps DOGE-USD+0.0120%8h0.1017−1.166%$1K$503K10xas long as short
Reya DOGERUSDPERP+0.0193%1h0.1017−1.231%$2K—20xas long as short
BloFin DOGE-USDT+0.0220%8h0.1017−1.243%$16.4M$26.9M75xas long as short
Phoenix DOGEshort+0.0235%1h0.1017−1.186%$19K$292K10x
Kraken Futures PF_DOGEUSD+0.0248%1h0.1016−1.272%$5.5M$39.5M50xas long as short
01 Exchange DOGEUSD+0.0248%1h0.1017−1.227%$452$4K10xas long as short
GMX DOGE/USD [ETH-USDC]L +0.0255% / S −0.0309%1h0.1016−1.307%$328K—200xas long as short
Coinbase International DOGE-PERP-INTX+0.0304%1h0.1017−1.166%$2.2M$33.4M50xas long as short
Hyperliquid DOGE+0.0441%1h0.1017−1.224%$126.7M$111.3M10xas long as short
Arcus DOGE-USD+0.0634%1h0.1018−1.068%$110K$207K10xas long as short
RISEx DOGE/USDC+0.0728%1h0.1018−1.130%$411K$431K10xas long as short
Injective DOGE/USDC PERP+0.1062%1h0.1053+2.283%$6K$242K12xas long as short