Funding you earn now, next payment 02:00 UTC−0.0148%/8h= −16.2% APRpaid last 24h −0.025%
Price spread now: Phemex against Coinbase International−0.070%7-day average −0.010% · you buy dearer than you sell
Net, funding: paid 7d − costs−$34as in the Funding arb table
Net, price: spread back to 7d avg − costs−$45as in the Price arb table
costs, in and out, $10k−$390.393% of the position
Funding, last 7 days+0.057%+$6 on $10k
+Price spread, last 4 days (all we have)+0.116%+$12 · spread now −0.070%, 7d avg −0.010%
=Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Phemex is 0.060% cheaper against Coinbase International than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.010%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.057%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International DOGE-PERP-INTX | 0.09966 | 0.0248 | pay 0.0031% / 1h | 13m 27s | $2.3M | $26.4M | 50x |
| Short | Phemex DOGEUSDT | 0.09959 | 0.0100 | get 0.0100% / 8h | 5h 13m | $91.6M | $16.6M | 50x |
Coinbase International DOGE-PERP-INTX
Phemex DOGEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Coinbase International. 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
- −$31.08
- Price spread: −0.070% → −0.010%
- −$6
- Slippage, 4 orders
- −$17.34
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$76.42
- Costs to cover
- 0.393%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 6 min ago; Phemex: live order book, 6 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 Coinbase International live order book, 6 min ago | 1.50 bp | 9.9 bp −$10 | 17.8 bp −$178 | 47.0 bp −$4,701 | doesn't fit |
| Sell Phemex live order book, 6 min ago | 1.00 bp | 10.4 bp −$10 | 16.4 bp −$164 | 35.8 bp −$3,575 | 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 | −0.0074% | 8h | 0.09920 | −0.462% | $150.1M | $274.0M | 75x | as long as short |
| dYdX DOGE-USD | 0.0000% | 1h | 0.09942 | −0.246% | $223K | $49K | 10x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.09965 | −0.006% | $430K | $5.2M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.09930 | −0.364% | $24K | — | 150x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.09952 | −0.136% | $771K | $6.2M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0100% | 8h | 0.09944 | −0.221% | $898 | $443K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.09941 | −0.246% | $532K | $996K | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.09944 | −0.217% | $4.7M | $48.7M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.09950 | −0.163% | $327K | $483K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.09933 | −0.331% | $317.9M | $1.44B | 75x | as long as short |
Bitget DOGEUSDT
dYdX DOGE-USD
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
Lighter DOGE
Katana Perps DOGE-USD
Nado DOGE-PERP
Aster DOGEUSDT
Pacifica DOGE
Binance DOGEUSDTShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09927 | −0.391% | $159.8M | $441.8M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09928 | −0.381% | $110.9M | $984.8M | 50x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09966 | −0.001% | $382K | $0 | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.09932 | −0.341% | $243.0M | $133.6M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09933 | −0.331% | $111.5M | $231.4M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09945 | −0.211% | $65.8M | $43.4M | 75x | as long as short |
| BingX DOGE-USDC | +0.0100% | 8h | 0.09937 | −0.291% | — | $3.5M | — | as long as short |
| Backpack DOGE_USDC_PERP | +0.0100% | 1h | 0.09957 | −0.090% | $328K | $1.1M | 15x | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.09975 | +0.086% | $988K | $8.2M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.09941 | −0.253% | $295K | $129.0M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.09949 | −0.168% | $631K | $4.4M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.09940 | −0.261% | $145K | $279K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.09937 | −0.289% | $251K | $741K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.09927 | −0.391% | $70K | $438K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.09925 | −0.407% | $24K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09962 | −0.042% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.09962 | −0.040% | $2K | $3.9M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09955 | −0.108% | $6.0M | $56.7M | 75x | as long as short |
| Phemex DOGEUSDTshort | +0.0100% | 8h | 0.09959 | −0.070% | $91.6M | $16.6M | 50x | |
| Paradex DOGE-USD-PERP | +0.0102% | 8h | 0.09941 | −0.248% | $18K | $6K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09939 | −0.266% | $499K | $4.1M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.09925 | −0.406% | $19K | — | 3x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0121% | 1h | 0.09964 | −0.020% | $595K | $118K | 25x | as long as short |
| Reya DOGERUSDPERP | +0.0187% | 1h | 0.09936 | −0.299% | $2K | — | 20x | as long as short |
| 01 Exchange DOGEUSD | +0.0216% | 1h | 0.09947 | −0.191% | $530 | $4K | 10x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.09965 | −0.010% | $15.7M | $25.1M | 75x | as long as short |
| Phoenix DOGE | +0.0240% | 1h | 0.09951 | −0.151% | $65K | $288K | 10x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0246% / S −0.0269% | 1h | 0.09929 | −0.372% | $311K | — | 200x | as long as short |
| Coinbase International DOGE-PERP-INTXlong | +0.0248% | 1h | 0.09966 | long leg | $2.3M | $26.4M | 50x | |
| Kraken Futures PF_DOGEUSD | +0.0307% | 1h | 0.09959 | −0.070% | $5.7M | $35.3M | 50x | as long as short |
| Hyperliquid DOGE | +0.0525% | 1h | 0.09952 | −0.141% | $121.3M | $99.9M | 10x | as long as short |
| RISEx DOGE/USDC | +0.0747% | 1h | 0.09950 | −0.163% | $402K | $368K | 10x | as long as short |
| Arcus DOGE-USD | +0.0781% | 1h | 0.09955 | −0.110% | $128K | $179K | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1072% | 1h | 0.1000 | +0.341% | $5K | $239K | 12x | as long as short |
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Bulk DOGE-USD
Gate DOGE_USDT
MEXC DOGE_USDT
KuCoin DOGEUSDTM
BingX DOGE-USDC
Backpack DOGE_USDC_PERP
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
Paradex DOGE-USD-PERP
Extended DOGE-USD
Aevo DOGE-PERP
Deribit DOGE_USDC-PERPETUAL
Reya DOGERUSDPERP
01 Exchange DOGEUSD
BloFin DOGE-USDT
Phoenix DOGE
GMX DOGE/USD [ETH-USDC]
Kraken Futures PF_DOGEUSD
Hyperliquid DOGE
RISEx DOGE/USDC
Arcus DOGE-USD
Injective DOGE/USDC PERP