Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.031%
Price spread now: Phemex against Deribit−0.072%7-day average +0.003% · you buy dearer than you sell
Net, funding: paid 7d − costs−$22as in the Funding arb table
Net, price: spread back to 7d avg − costs−$47as in the Price arb table
costs, in and out, $10k−$390.392% of the position
Funding, last 7 days+0.175%+$18 on $10k
+Price spread, last 3 days (all we have)+0.057%+$6 · spread now −0.072%, 7d avg +0.003%
=Funding pays, the price is against you. Phemex is 0.076% cheaper against Deribit than usual: you would sell low and buy high (spread −0.072% now, against its 7-day average of +0.003%). If the spread goes back, that is −$8 on $10k: about 2.5 days of funding at the current rate (+$3 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit DOGE_USDC-PERPETUAL | 0.09932 | 0 | get 0.0000% / 1h | 25m 34s | $621K | $103K | 25x |
| Short | Phemex DOGEUSDT | 0.09925 | 0.0100 | get 0.0100% / 8h | 2h 25m | $92.1M | $19.0M | 50x |
Deribit DOGE_USDC-PERPETUAL
Phemex DOGEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- $21
- Price spread: −0.072% → +0.003%
- −$7.59
- Slippage, 4 orders
- −$20.19
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$25.77
- Costs to cover
- 0.392%
- Break-even
- 15.6 days
Slippage from Deribit: live order book, 63 min ago; Phemex: live order book, 4 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, 63 min ago | 3.01 bp | 11.5 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phemex live order book, 4 min ago | 1.01 bp | 10.3 bp −$10 | 13.4 bp −$134 | 31.9 bp −$3,191 | 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 | −0.0279% | 8h | 0.09942 | +0.099% | $153.0M | $260.4M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.09921 | −0.114% | $373K | $4.3M | 2.8x | as long as short |
| Deribit DOGE_USDC-PERPETUALlong | 0.0000% | 1h | 0.09932 | long leg | $621K | $103K | 25x | |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S −0.0001% | 1h | 0.09926 | −0.058% | $32K | — | 150x | as long as short |
| Gate DOGE_USDT | +0.0071% | 8h | 0.09942 | +0.099% | $237.1M | $119.7M | 75x | as long as short |
| Phoenix DOGE | +0.0080% | 1h | 0.09864 | −0.691% | $15K | $225K | 10x | as long as short |
| Katana Perps DOGE-USD | +0.0095% | 8h | 0.09949 | +0.169% | $1K | $338K | 10x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.09938 | +0.053% | $788K | $5.1M | 15x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.09928 | −0.042% | $630K | $695K | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.09946 | +0.137% | $4.8M | $40.5M | 75x | as long as short |
Bitget DOGEUSDT
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
Gate DOGE_USDT
Phoenix DOGE
Katana Perps DOGE-USD
Lighter DOGE
Nado DOGE-PERP
Aster DOGEUSDTShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica DOGE | +0.0100% | 1h | 0.09945 | +0.129% | $337K | $494K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.09952 | +0.199% | $315.1M | $1.26B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09947 | +0.149% | $158.1M | $397.6M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09950 | +0.179% | $108.6M | $891.0M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.09957 | +0.250% | $28K | $75K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09838 | −0.949% | $377K | $19K | 10x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09944 | +0.119% | $113.0M | $218.4M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09934 | +0.018% | $65.1M | $39.1M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.09946 | +0.139% | — | $73.3M | — | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.09851 | −0.817% | $915K | $7.8M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.09902 | −0.301% | $263K | $112.0M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.09913 | −0.193% | $631K | $4.6M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.09910 | −0.224% | $141K | $223K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.09919 | −0.130% | $273K | $528K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.09930 | −0.022% | $57K | $397K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.09928 | −0.037% | $24K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09933 | +0.007% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.09929 | −0.032% | $2K | $3.3M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09930 | −0.019% | $6.0M | $46.8M | 75x | as long as short |
| Phemex DOGEUSDTshort | +0.0100% | 8h | 0.09925 | −0.072% | $92.1M | $19.0M | 50x | |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.09949 | +0.169% | $18K | $5K | 30x | as long as short |
| dYdX DOGE-USD | +0.0100% | 1h | 0.09940 | +0.082% | $223K | $44K | 10x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09948 | +0.154% | $549K | $3.6M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.09921 | −0.114% | $19K | — | 3x | as long as short |
| Reya DOGERUSDPERP | +0.0174% | 1h | 0.09920 | −0.122% | $2K | — | 20x | as long as short |
| 01 Exchange DOGEUSD | +0.0184% | 1h | 0.09956 | +0.240% | $526 | $4K | 10x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.09912 | −0.203% | $15.1M | $23.8M | 75x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0224% | 1h | 0.09933 | +0.008% | $2.0M | $22.4M | 50x | as long as short |
| Backpack DOGE_USDC_PERP | +0.0236% | 1h | 0.09935 | +0.028% | $524K | $931K | 15x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0243% / S −0.0264% | 1h | 0.09926 | −0.061% | $307K | — | 200x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0288% | 1h | 0.09926 | −0.061% | $5.9M | $31.6M | 50x | as long as short |
| Hyperliquid DOGE | +0.0432% | 1h | 0.09944 | +0.121% | $109.9M | $78.9M | 10x | as long as short |
| RISEx DOGE/USDC | +0.0536% | 1h | 0.09959 | +0.270% | $312K | $472K | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1013% | 1h | 0.09920 | −0.123% | $5K | $180K | 12x | as long as short |
Pacifica DOGE
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
Paradex DOGE-USD-PERP
dYdX DOGE-USD
Extended DOGE-USD
Aevo DOGE-PERP
Reya DOGERUSDPERP
01 Exchange DOGEUSD
BloFin DOGE-USDT
Coinbase International DOGE-PERP-INTX
Backpack DOGE_USDC_PERP
GMX DOGE/USD [ETH-USDC]
Kraken Futures PF_DOGEUSD
Hyperliquid DOGE
RISEx DOGE/USDC
Injective DOGE/USDC PERP