Funding arb · Price arb /

DOGE

all DOGE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0151%/8h= +16.5% APRpaid last 24h +0.030%

Price spread now: Kraken Futures against Bybit+0.234%7-day average +0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$350.354% of the position

Long on Bybit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.106%+$11 on $10k

Price spread, last 4 days (all we have)−0.235%−$23 · spread now +0.234%, 7d avg +0.030%

Together, before fees−0.129%−$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Kraken Futures is 0.204% dearer against Bybit than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of +0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit DOGEUSDT	0.1000	0.0100	pay 0.0100% / 8h	3h 01m	$162.8M	$508.2M	75x
Short	Kraken Futures PF_DOGEUSD	0.1003	0.0251	get 0.0031% / 1h	1m 35s	$5.5M	$40.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.234%Rate

Funding earned: $31.7
Price spread: +0.234% → +0.030%: $20.45
Slippage, 4 orders: −$14.41
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $16.74
Costs to cover: 0.354%
Break-even: 3.3 days

Slippage from Bybit: live order book, 3 min ago; Kraken Futures: live order book, 3 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, 3 min ago	0.50 bp	6.7 bp −$7	9.7 bp −$97	21.3 bp −$2,130	44.3 bp −$22.2K
Sell Kraken Futures live order book, 3 min ago	2.99 bp	8.0 bp −$8	9.9 bp −$99	22.5 bp −$2,251	273.2 bp −$136.6K

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
Kalshi KXDOGEPERP	0.0000%	8h	0.1002	+0.211%	$660K	$6.4M	2.8x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.1002	+0.217%	$23K	—	150x	as long as short
dYdX DOGE-USD	+0.0016%	1h	0.09988	−0.143%	$224K	$70K	10x	as long as short
Lighter DOGE	+0.0096%	1h	0.09998	−0.037%	$737K	$6.5M	15x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.1000	+0.030%	$549K	$1.1M	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.1000	+0.020%	$4.5M	$55.9M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.09990	−0.120%	$319K	$520K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.1001	+0.039%	$326.6M	$1.65B	75x	as long as short
Bybit DOGEUSDTlong	+0.0100%	8h	0.1000	long leg	$162.8M	$508.2M	75x
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.1000	0.000%	$113.8M	$1.15B	50x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bulk DOGE-USD	+0.0100%	1h	0.1002	+0.169%	$385K	$16K	10x	as long as short
Gate DOGE_USDT	+0.0100%	8h	0.09989	−0.130%	$244.6M	$149.7M	75x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.09995	−0.070%	$111.4M	$249.3M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.09984	−0.180%	$65.7M	$48.6M	75x	as long as short
Bitget DOGEUSDT	+0.0100%	8h	0.09994	−0.080%	$129.8M	$320.5M	75x	as long as short
BingX DOGE-USDC	+0.0100%	8h	0.09992	−0.100%	—	$3.5M	—	as long as short
Backpack DOGE_USDC_PERP	+0.0100%	1h	0.1002	+0.150%	$319K	$1.2M	15x	as long as short
Variational Omni DOGE	+0.0100%	8h	0.1010	+0.957%	$1.1M	$8.6M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.1004	+0.336%	$320K	$137.4M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.1008	+0.763%	$638K	$4.7M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.1003	+0.280%	$151K	$332K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.1004	+0.350%	$261K	$1.1M	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.1003	+0.230%	$66K	$463K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.1002	+0.193%	$19K	$1K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.1003	+0.268%	$35K	$2.3M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.1003	+0.260%	$2K	$5.1M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.1002	+0.206%	$5.9M	$66.2M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.1002	+0.220%	$92.2M	$17.1M	50x	as long as short
Paradex DOGE-USD-PERP	+0.0100%	8h	0.09989	−0.133%	$18K	$5K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.09992	−0.101%	$478K	$4.1M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.1003	+0.243%	$19K	—	3x	as long as short
Katana Perps DOGE-USD	+0.0118%	8h	0.09999	−0.030%	$1K	$512K	10x	as long as short
Deribit DOGE_USDC-PERPETUAL	+0.0159%	1h	0.1003	+0.286%	$569K	$247K	25x	as long as short
Reya DOGERUSDPERP	+0.0193%	1h	0.1003	+0.278%	$2K	—	20x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.1002	+0.200%	$16.1M	$26.7M	75x	as long as short
01 Exchange DOGEUSD	+0.0224%	1h	0.09997	−0.045%	$445	$4K	10x	as long as short
Phoenix DOGE	+0.0235%	1h	0.1008	+0.749%	$18K	$292K	10x	as long as short
Kraken Futures PF_DOGEUSDshort	+0.0251%	1h	0.1003	+0.234%	$5.5M	$40.0M	50x
GMX DOGE/USD [ETH-USDC]	L +0.0253% / S −0.0286%	1h	0.1002	+0.219%	$330K	—	200x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0304%	1h	0.1003	+0.310%	$2.1M	$33.5M	50x	as long as short
Hyperliquid DOGE	+0.0369%	1h	0.09990	−0.123%	$124.8M	$113.2M	10x	as long as short
Arcus DOGE-USD	+0.0634%	1h	0.1001	+0.040%	$108K	$207K	10x	as long as short
RISEx DOGE/USDC	+0.0728%	1h	0.1000	−0.020%	$403K	$436K	10x	as long as short
Injective DOGE/USDC PERP	+0.1062%	1h	0.1053	+5.279%	$6K	$242K	12x	as long as short