Funding arb · Price arb /

DOGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.003%

Price spread now: Kalshi against Deribit+0.351%7-day average −0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs$0as in the Price arb table

costs, in and out, $10k−$400.404% of the position

Long on Deribit Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 3 days (all we have)−0.372%−$37 · spread now +0.351%, 7d avg −0.051%

Together, before fees−0.369%−$37 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: Kalshi is 0.401% dearer against Deribit than usual: you sell high and buy low, +$40 on $10k if it goes back to its 7-day average of −0.051%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit DOGE_USDC-PERPETUAL	0.1012	0	get 0.0000% / 1h	43m 05s	$613K	$113K	25x
Short	Kalshi KXDOGEPERP	0.1016	0	get 0.0000% / 8h	4h 43m	$420K	$4.7M	2.8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Deribit. 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 DeribitbpFee KalshibpOrdersPrice spread, now +0.351%Rate

Funding earned: $0
Price spread: +0.351% → −0.051%: $40.14
Slippage, 4 orders: −$23.37
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$0.22
Costs to cover: 0.404%
Break-even: never at this rate

Slippage from Deribit: live order book, 36 min ago; Kalshi: live order book, just now.

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, 36 min ago	4.98 bp	8.5 bp −$8	14.4 bp −$144	doesn't fit	doesn't fit
Sell Kalshi live order book, just now	5.23 bp	12.2 bp −$12	17.7 bp −$177	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	−0.0242%	8h	0.1010	−0.177%	$154.0M	$268.4M	75x	as long as short
Kalshi KXDOGEPERPshort	0.0000%	8h	0.1016	+0.351%	$420K	$4.7M	2.8x
Deribit DOGE_USDC-PERPETUALlong	0.0000%	1h	0.1012	long leg	$613K	$113K	25x
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.1012	+0.013%	$25K	—	150x	as long as short
Gate DOGE_USDT	+0.0077%	8h	0.1011	−0.068%	$244.2M	$126.1M	75x	as long as short
dYdX DOGE-USD	+0.0093%	1h	0.1016	+0.373%	$228K	$44K	10x	as long as short
Lighter DOGE	+0.0096%	1h	0.1013	+0.043%	$819K	$5.5M	15x	as long as short
Katana Perps DOGE-USD	+0.0097%	8h	0.1014	+0.179%	$980	$389K	10x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.1014	+0.174%	$604K	$899K	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.1012	−0.001%	$5.1M	$45.2M	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	0.1016	+0.433%	$339K	$506K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.1011	−0.069%	$323.3M	$1.35B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.1011	−0.068%	$159.7M	$429.5M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.1012	−0.048%	$110.0M	$953.4M	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.1014	+0.238%	$31K	$80K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.1015	+0.238%	$389K	$12K	10x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.1012	−0.039%	$113.9M	$220.0M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.1012	−0.039%	$66.5M	$41.8M	75x	as long as short
BingX DOGE-USDC	+0.0100%	8h	0.1011	−0.068%	—	$3.4M	—	as long as short
Variational Omni DOGE	+0.0100%	8h	0.1018	+0.626%	$1.1M	$8.1M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.1018	+0.629%	$279K	$118.3M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.1018	+0.584%	$641K	$4.6M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.1019	+0.683%	$150K	$249K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.1013	+0.120%	$262K	$555K	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.1012	+0.031%	$74K	$433K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.1012	−0.007%	$25K	$1K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.1012	+0.010%	$36K	$2.2M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.1012	−0.029%	$2K	$3.6M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.1011	−0.066%	$6.1M	$51.5M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.1012	−0.029%	$93.6M	$19.2M	50x	as long as short
Paradex DOGE-USD-PERP	+0.0100%	8h	0.1015	+0.335%	$18K	$5K	30x	as long as short
Kraken Futures PF_DOGEUSD	+0.0104%	1h	0.1011	−0.083%	$6.0M	$33.2M	50x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.1011	−0.111%	$558K	$3.7M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.1012	−0.007%	$19K	—	3x	as long as short
Reya DOGERUSDPERP	+0.0178%	1h	0.1013	+0.091%	$2K	—	20x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.1012	−0.019%	$15.4M	$25.5M	75x	as long as short
Phoenix DOGE	+0.0239%	1h	0.1015	+0.292%	$67K	$281K	10x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0240%	1h	0.1012	−0.009%	$2.1M	$24.3M	50x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0253% / S −0.0291%	1h	0.1012	+0.014%	$333K	—	200x	as long as short
01 Exchange DOGEUSD	+0.0256%	1h	0.1015	+0.248%	$536	$4K	10x	as long as short
Backpack DOGE_USDC_PERP	+0.0450%	1h	0.1012	+0.001%	$541K	$963K	15x	as long as short
RISEx DOGE/USDC	+0.0708%	1h	0.1015	+0.254%	$318K	$475K	10x	as long as short
Hyperliquid DOGE	+0.0950%	1h	0.1013	+0.139%	$118.3M	$88.0M	10x	as long as short
Injective DOGE/USDC PERP	+0.1039%	1h	0.1020	+0.782%	$5K	$239K	12x	as long as short