Funding you earn now, next payment 00:00 UTC+0.0205%/8h= +22.5% APRnext payment +$0.26 per $10,000 · paid last 24h +0.055%
Price spread now: Backpack against Deribit+0.077%7-day average −0.016% · you sell dearer than you buy
Net, funding: paid 7d − costs−$9as in the Funding arb table
Net, price: spread back to 7d avg − costs−$21as in the Price arb table
costs, in and out, $10k−$300.299% of the position
Funding, last 7 days+0.213%+$21 on $10k
+Price spread, last 3 days (all we have)−0.150%−$15 · spread now +0.077%, 7d avg −0.016%
=Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Backpack is 0.092% dearer against Deribit than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.016%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit DOGE_USDC-PERPETUAL | 0.1006 | 0.0208 | pay 0.0026% / 1h | 58m 27s | $609K | $109K | 25x |
| Short | Backpack DOGE_USDC_PERP | 0.1006 | 0.0413 | get 0.0052% / 1h | 58m 27s | $537K | $959K | 15x |
Deribit DOGE_USDC-PERPETUAL
Backpack DOGE_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Deribit. 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
- $43.13
- Price spread: +0.077% → −0.016%
- $9.24
- Slippage, 4 orders
- −$12.93
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $22.43
- Costs to cover
- 0.299%
- Break-even
- 3.4 days
Slippage from Deribit: live order book, 20 min ago; Backpack: live order book, 20 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 Deribit live order book, 20 min ago | 4.98 bp | 8.5 bp −$8 | 14.4 bp −$144 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 20 min ago | 0.50 bp | 5.9 bp −$6 | 12.4 bp −$124 | 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 | −0.0253% | 8h | 0.1007 | +0.106% | $153.8M | $267.1M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.1003 | −0.226% | $415K | $4.7M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S −0.0001% | 1h | 0.1005 | −0.100% | $32K | — | 150x | as long as short |
| Phoenix DOGE | +0.0081% | 1h | 0.1002 | −0.315% | $66K | $221K | 10x | as long as short |
| Gate DOGE_USDT | +0.0095% | 8h | 0.1007 | +0.136% | $242.6M | $124.6M | 75x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.1007 | +0.192% | $793K | $5.4M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0097% | 8h | 0.1008 | +0.246% | $1K | $377K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1008 | +0.231% | $596K | $890K | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.1007 | +0.180% | $5.0M | $44.2M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.1007 | +0.133% | $336K | $504K | 20x | as long as short |
Bitget DOGEUSDT
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
Phoenix DOGE
Gate DOGE_USDT
Lighter DOGE
Katana Perps DOGE-USD
Nado DOGE-PERP
Aster DOGEUSDT
Pacifica DOGEShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance DOGEUSDT | +0.0100% | 8h | 0.1008 | +0.206% | $320.5M | $1.33B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.1007 | +0.186% | $159.5M | $424.1M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1008 | +0.216% | $110.0M | $939.6M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.1008 | +0.226% | $28K | $77K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.1004 | −0.190% | $385K | $12K | 10x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1008 | +0.196% | $116.3M | $217.3M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1008 | +0.196% | $66.5M | $41.3M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.1007 | +0.186% | — | $74.8M | — | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.1001 | −0.489% | $1.0M | $8.1M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1003 | −0.284% | $277K | $116.9M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1001 | −0.420% | $638K | $4.5M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1003 | −0.252% | $147K | $246K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.1007 | +0.166% | $263K | $549K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.1005 | −0.073% | $73K | $432K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1005 | −0.083% | $25K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1003 | −0.268% | $36K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1005 | −0.013% | $2K | $3.6M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1005 | −0.021% | $6.0M | $50.7M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.1005 | −0.023% | $93.1M | $19.2M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.1008 | +0.199% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1007 | +0.171% | $554K | $3.6M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1005 | −0.042% | $19K | — | 3x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0104% | 1h | 0.1005 | −0.012% | $6.0M | $32.9M | 50x | as long as short |
| dYdX DOGE-USD | +0.0139% | 1h | 0.1006 | +0.082% | $226K | $44K | 10x | as long as short |
| Reya DOGERUSDPERP | +0.0178% | 1h | 0.1007 | +0.175% | $2K | — | 20x | as long as short |
| Deribit DOGE_USDC-PERPETUALlong | +0.0208% | 1h | 0.1006 | long leg | $609K | $109K | 25x | |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.1005 | −0.083% | $15.3M | $25.0M | 75x | as long as short |
| 01 Exchange DOGEUSD | +0.0232% | 1h | 0.1008 | +0.239% | $532 | $4K | 10x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0240% | 1h | 0.1004 | −0.162% | $2.0M | $23.8M | 50x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0245% / S −0.0209% | 1h | 0.1004 | −0.154% | $344K | — | 200x | as long as short |
| Backpack DOGE_USDC_PERPshort | +0.0413% | 1h | 0.1006 | +0.077% | $537K | $959K | 15x | |
| RISEx DOGE/USDC | +0.0708% | 1h | 0.1008 | +0.237% | $316K | $475K | 10x | as long as short |
| Hyperliquid DOGE | +0.0908% | 1h | 0.1009 | +0.345% | $115.3M | $85.4M | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1039% | 1h | 0.1005 | −0.053% | $5K | $239K | 12x | as long as short |
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Arcus DOGE-USD
Bulk DOGE-USD
MEXC DOGE_USDT
KuCoin DOGEUSDTM
BingX DOGE-USDT
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
Kraken Futures PF_DOGEUSD
dYdX DOGE-USD
Reya DOGERUSDPERP
BloFin DOGE-USDT
01 Exchange DOGEUSD
Coinbase International DOGE-PERP-INTX
GMX DOGE/USD [ETH-USDC]
RISEx DOGE/USDC
Hyperliquid DOGE
Injective DOGE/USDC PERP