Funding you earn now, next payment 04:00 UTC−0.0069%/8h= −7.6% APRnext payment −$0.09 per $10,000 · paid last 24h −0.032%
Price spread now: Phoenix against Coinbase International+0.344%72s7-day average +0.009% · you sell dearer than you buy
Net, funding: paid 7d − costs−$59as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$460.461% of the position
Funding, last 7 days−0.132%−$13 on $10k
+Price spread, last 4 days (all we have)−0.325%−$32 · spread now +0.344%, 7d avg +0.009%
=The price spread pays, funding is against you. Phoenix is 0.335% dearer against Coinbase International than usual: you sell high and buy low (spread +0.344% now, against its 7-day average of +0.009%): +$34 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 16 days. The two prices were read 72 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International DOGE-PERP-INTX | 0.1014 | 0.0304 | pay 0.0038% / 1h | 11m 44s | $2.1M | $33.4M | 50x |
| Short | Phoenix DOGE | 0.1017 | 0.0235 | get 0.0029% / 1h | 11m 44s | $19K | $292K | 10x |
Coinbase International DOGE-PERP-INTX
Phoenix DOGEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- −$14.52
- Price spread: +0.344% → +0.009%
- $33.54
- Slippage, 4 orders
- −$29.08
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$27.05
- Costs to cover
- 0.461%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 2 min ago; Phoenix: live order book, 36 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, 2 min ago | 1.47 bp | 11.9 bp −$12 | 17.9 bp −$179 | 40.0 bp −$4,001 | doesn't fit |
| Sell Phoenix live order book, 36 min ago | 0.95 bp | 12.3 bp −$12 | 43.0 bp −$430 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.1015 | +0.079% | $682K | $6.3M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.1013 | −0.108% | $24K | — | 150x | as long as short |
| dYdX DOGE-USD | +0.0019% | 1h | 0.1015 | +0.082% | $228K | $70K | 10x | as long as short |
| Bitget DOGEUSDT | +0.0084% | 8h | 0.1014 | +0.049% | $132.0M | $317.8M | 75x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.1016 | +0.185% | $748K | $6.5M | 15x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1013 | −0.049% | $556K | $1.1M | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.1015 | +0.082% | $4.9M | $54.9M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.1015 | +0.115% | $324K | $519K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.1015 | +0.081% | $333.6M | $1.63B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.1014 | +0.020% | $165.4M | $502.1M | 75x | as long as short |
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
dYdX DOGE-USD
Bitget DOGEUSDT
Lighter DOGE
Nado DOGE-PERP
Aster DOGEUSDT
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDTShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1014 | +0.069% | $115.7M | $1.15B | 50x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.1016 | +0.236% | $390K | $16K | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.1014 | −0.010% | $249.5M | $147.1M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1014 | +0.049% | $114.8M | $247.4M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1015 | +0.099% | $66.7M | $48.3M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.1014 | +0.039% | — | $79.4M | — | as long as short |
| Backpack DOGE_USDC_PERP | +0.0100% | 1h | 0.1013 | −0.109% | $333K | $1.2M | 15x | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.1019 | +0.520% | $1.2M | $8.5M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1019 | +0.546% | $325K | $136.7M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1019 | +0.499% | $642K | $4.6M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1022 | +0.809% | $154K | $330K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.1012 | −0.148% | $261K | $1.0M | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.1013 | −0.089% | $66K | $458K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1013 | −0.121% | $19K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1013 | −0.070% | $35K | $2.3M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1013 | −0.099% | $2K | $5.1M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1013 | −0.109% | $5.9M | $65.8M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.1013 | −0.099% | $93.2M | $17.2M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.1014 | +0.039% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1013 | −0.088% | $488K | $4.1M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1013 | −0.099% | $19K | — | 3x | as long as short |
| Katana Perps DOGE-USD | +0.0120% | 8h | 0.1015 | +0.138% | $2K | $503K | 10x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0175% | 1h | 0.1013 | −0.080% | $575K | $247K | 25x | as long as short |
| Reya DOGERUSDPERP | +0.0193% | 1h | 0.1012 | −0.141% | $2K | — | 20x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.1017 | +0.286% | $16.4M | $26.9M | 75x | as long as short |
| Phoenix DOGEshort | +0.0235% | 1h | 0.1017 | +0.344% | $19K | $292K | 10x | |
| 01 Exchange DOGEUSD | +0.0240% | 1h | 0.1015 | +0.165% | $452 | $4K | 10x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0248% | 1h | 0.1013 | −0.119% | $5.5M | $39.5M | 50x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0255% / S −0.0299% | 1h | 0.1013 | −0.120% | $332K | — | 200x | as long as short |
| Coinbase International DOGE-PERP-INTXlong | +0.0304% | 1h | 0.1014 | long leg | $2.1M | $33.4M | 50x | |
| Hyperliquid DOGE | +0.0431% | 1h | 0.1016 | +0.207% | $126.6M | $111.4M | 10x | as long as short |
| Arcus DOGE-USD | +0.0634% | 1h | 0.1015 | +0.138% | $110K | $207K | 10x | as long as short |
| RISEx DOGE/USDC | +0.0728% | 1h | 0.1016 | +0.212% | $410K | $432K | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1062% | 1h | 0.1053 | +3.867% | $6K | $242K | 12x | as long as short |
OKX DOGE-USDT-SWAP
Bulk DOGE-USD
Gate DOGE_USDT
MEXC DOGE_USDT
KuCoin DOGEUSDTM
BingX DOGE-USDT
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
Phemex DOGEUSDT
Paradex DOGE-USD-PERP
Extended DOGE-USD
Aevo DOGE-PERP
Katana Perps DOGE-USD
Deribit DOGE_USDC-PERPETUAL
Reya DOGERUSDPERP
BloFin DOGE-USDT
01 Exchange DOGEUSD
Kraken Futures PF_DOGEUSD
GMX DOGE/USD [ETH-USDC]
Hyperliquid DOGE
Arcus DOGE-USD
RISEx DOGE/USDC
Injective DOGE/USDC PERP