Funding arb · Price arb /

DOGE

all DOGE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.027%

Price spread now: Backpack against Bybit+0.060%7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$320.315% of the position

Long on Bybit Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.105%+$11 on $10k

Price spread, last 4 days (all we have)−0.151%−$15 · spread now +0.060%, 7d avg +0.006%

Together, before fees−0.046%−$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.054% dearer against Bybit than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit DOGEUSDT	0.1005	0.0100	pay 0.0100% / 8h	7h 19m	$159.8M	$438.6M	75x
Short	Backpack DOGE_USDC_PERP	0.1006	0.0100	get 0.0013% / 1h	19m 46s	$364K	$1.1M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Bybit. 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 BybitbpFee BackpackbpOrdersPrice spread, now +0.060%Rate

Funding earned: $0
Price spread: +0.060% → +0.006%: $5.37
Slippage, 4 orders: −$10.53
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$26.16
Costs to cover: 0.315%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Backpack: 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 Bybit live order book, 4 min ago	0.50 bp	6.9 bp −$7	10.2 bp −$102	24.3 bp −$2,430	48.2 bp −$24.1K
Sell Backpack live order book, 4 min ago	0.50 bp	10.3 bp −$10	doesn't fit	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	−0.0176%	8h	0.1004	−0.090%	$152.8M	$271.3M	75x	as long as short
Kraken Futures PF_DOGEUSD	−0.0077%	1h	0.1006	+0.130%	$6.1M	$33.9M	50x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.1005	0.000%	$417K	$4.8M	2.8x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.1006	+0.107%	$24K	—	150x	as long as short
dYdX DOGE-USD	+0.0014%	1h	0.1005	−0.015%	$226K	$44K	10x	as long as short
Deribit DOGE_USDC-PERPETUAL	+0.0068%	1h	0.1007	+0.193%	$606K	$121K	25x	as long as short
Lighter DOGE	+0.0096%	1h	0.1006	+0.063%	$785K	$5.8M	15x	as long as short
Katana Perps DOGE-USD	+0.0100%	8h	0.1005	+0.030%	$841	$414K	10x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.1005	+0.025%	$515K	$971K	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.1006	+0.088%	$4.9M	$46.5M	75x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica DOGE	+0.0100%	1h	0.1004	−0.079%	$335K	$516K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.1006	+0.051%	$319.5M	$1.40B	75x	as long as short
Bybit DOGEUSDTlong	+0.0100%	8h	0.1005	long leg	$159.8M	$438.6M	75x
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.1005	0.000%	$111.4M	$969.7M	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.1006	+0.080%	$28K	$82K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.1007	+0.202%	$386K	$5K	10x	as long as short
Gate DOGE_USDT	+0.0100%	8h	0.1005	−0.040%	$244.6M	$130.0M	75x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.1006	+0.060%	$113.2M	$225.2M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.1007	+0.149%	$66.0M	$42.4M	75x	as long as short
BingX DOGE-USDT	+0.0100%	8h	0.1005	−0.030%	—	$76.1M	—	as long as short
Backpack DOGE_USDC_PERPshort	+0.0100%	1h	0.1006	+0.060%	$364K	$1.1M	15x
Variational Omni DOGE	+0.0100%	8h	0.1004	−0.051%	$989K	$8.1M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.1010	+0.498%	$265K	$124.1M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.1010	+0.478%	$633K	$4.5M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.1010	+0.498%	$148K	$268K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.1005	+0.010%	$267K	$635K	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.1007	+0.159%	$73K	$424K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.1007	+0.156%	$25K	$1K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.1007	+0.164%	$36K	$2.2M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.1006	+0.129%	$2K	$3.8M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.1007	+0.150%	$6.0M	$52.5M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.1006	+0.119%	$92.9M	$17.8M	50x	as long as short
Paradex DOGE-USD-PERP	+0.0100%	8h	0.1003	−0.197%	$18K	$5K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.1006	+0.057%	$532K	$3.9M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.1008	+0.317%	$19K	—	3x	as long as short
01 Exchange DOGEUSD	+0.0176%	1h	0.1006	+0.073%	$531	$4K	10x	as long as short
Reya DOGERUSDPERP	+0.0182%	1h	0.1005	−0.001%	$2K	—	20x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.1005	−0.010%	$15.4M	$25.6M	75x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0240%	1h	0.1007	+0.189%	$2.0M	$25.1M	50x	as long as short
Phoenix DOGE	+0.0240%	1h	0.1008	+0.341%	$65K	$283K	10x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0247% / S −0.0272%	1h	0.1006	+0.097%	$316K	—	200x	as long as short
RISEx DOGE/USDC	+0.0701%	1h	0.1006	+0.065%	$325K	$404K	10x	as long as short
Hyperliquid DOGE	+0.0809%	1h	0.1006	+0.109%	$122.6M	$95.1M	10x	as long as short
Injective DOGE/USDC PERP	+0.0973%	1h	0.1012	+0.697%	$5K	$239K	12x	as long as short