Funding you earn now, next payment 03:00 UTC+0.0242%/8h= +26.5% APRnext payment +$0.30 per $10,000 · paid last 24h −0.002%
Price spread now: Phoenix against dYdX+0.571%46s7-day average +0.057% · you sell dearer than you buy
Net, funding: paid 7d − costs−$116as 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−$1041.041% of the position
Funding, last 7 days−0.120%−$12 on $10k
+Price spread, last 4 days (all we have)−0.327%−$33 · spread now +0.571%, 7d avg +0.057%
=Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Phoenix is 0.514% dearer against dYdX than usual: you sell high and buy low: +$51 more if the spread goes back to its 7-day average of +0.057%. Mind the row above: over the last 7 days funding on this pair cost −0.120%, so the current rate has only just turned in your favour. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.120% in total (about -6.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.30 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | dYdX DOGE-USD | 0.09857 | 0.0001 | pay 0.0000% / 1h | 48m 11s | $221K | $49K | 10x |
| Short | Phoenix DOGE | 0.09913 | 0.0242 | get 0.0030% / 1h | 48m 11s | $64K | $288K | 10x |
dYdX DOGE-USD
Phoenix DOGEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against dYdX. 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
- $50.78
- Price spread: +0.571% → +0.057%
- $51.39
- Slippage, 4 orders
- −$87.11
- Fee dYdX: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$1.94
- Costs to cover
- 1.041%
- Break-even
- 7.3 days
Slippage from dYdX: live order book, 11 min ago; Phoenix: live order book, 5 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 dYdX live order book, 11 min ago | 28.73 bp | 36.7 bp −$37 | 50.4 bp −$504 | 54.8 bp −$5,482 | 184.3 bp −$92.1K |
| Sell Phoenix live order book, 5 min ago | 1.01 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget DOGEUSDT | −0.0061% | 8h | 0.09860 | +0.034% | $149.1M | $275.0M | 75x | as long as short |
| Kraken Futures PF_DOGEUSD | −0.0032% | 1h | 0.09860 | +0.035% | $5.7M | $35.4M | 50x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.09864 | +0.073% | $431K | $5.2M | 2.8x | as long as short |
| dYdX DOGE-USDlong | +0.0001% | 1h | 0.09857 | long leg | $221K | $49K | 10x | |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.09863 | +0.060% | $23K | — | 150x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0014% | 1h | 0.09865 | +0.087% | $589K | $118K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0026% | 1h | 0.09860 | +0.034% | $257K | $830K | 10x | as long as short |
| Katana Perps DOGE-USD | +0.0096% | 8h | 0.09869 | +0.126% | $2K | $448K | 10x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.09869 | +0.130% | $744K | $6.2M | 15x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.09864 | +0.075% | $523K | $1.0M | 10x | as long as short |
Bitget DOGEUSDT
Kraken Futures PF_DOGEUSD
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
Deribit DOGE_USDC-PERPETUAL
Polymarket Perps DOGE-USD
Katana Perps DOGE-USD
Lighter DOGE
Nado DOGE-PERPShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster DOGEUSDT | +0.0100% | 8h | 0.09863 | +0.065% | $4.5M | $48.9M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.09863 | +0.061% | $320K | $482K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.09864 | +0.078% | $314.9M | $1.45B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09865 | +0.085% | $158.8M | $443.3M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09867 | +0.105% | $109.9M | $984.9M | 50x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09930 | +0.745% | $381K | $0 | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.09861 | +0.045% | $242.0M | $133.0M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09865 | +0.085% | $111.2M | $233.6M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09862 | +0.055% | $65.1M | $43.5M | 75x | as long as short |
| BingX DOGE-USDC | +0.0100% | 8h | 0.09859 | +0.024% | — | $3.5M | — | as long as short |
| Backpack DOGE_USDC_PERP | +0.0100% | 1h | 0.09864 | +0.075% | $309K | $1.1M | 15x | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.09868 | +0.113% | $979K | $8.1M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.09908 | +0.518% | $295K | $129.1M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.09916 | +0.598% | $624K | $4.4M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.09870 | +0.136% | $143K | $283K | 25x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.09865 | +0.085% | $69K | $436K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.09863 | +0.060% | $24K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09871 | +0.141% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.09861 | +0.045% | $2K | $4.0M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09864 | +0.075% | $5.9M | $57.2M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.09865 | +0.085% | $90.7M | $16.6M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0101% | 8h | 0.09861 | +0.042% | $18K | $7K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09862 | +0.053% | $495K | $4.1M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.09860 | +0.038% | $19K | — | 3x | as long as short |
| 01 Exchange DOGEUSD | +0.0184% | 1h | 0.09875 | +0.182% | $526 | $4K | 10x | as long as short |
| Reya DOGERUSDPERP | +0.0188% | 1h | 0.09862 | +0.057% | $2K | — | 20x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.09855 | −0.016% | $15.4M | $24.9M | 75x | as long as short |
| Phoenix DOGEshort | +0.0242% | 1h | 0.09913 | +0.571% | $64K | $288K | 10x | |
| GMX DOGE/USD [ETH-USDC] | L +0.0246% / S −0.0269% | 1h | 0.09863 | +0.062% | $309K | — | 200x | as long as short |
| Hyperliquid DOGE | +0.0278% | 1h | 0.09876 | +0.193% | $120.2M | $100.1M | 10x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0296% | 1h | 0.09865 | +0.085% | $2.3M | $26.5M | 50x | as long as short |
| Arcus DOGE-USD | +0.0690% | 1h | 0.09886 | +0.298% | $117K | $189K | 10x | as long as short |
| RISEx DOGE/USDC | +0.0695% | 1h | 0.09877 | +0.207% | $399K | $411K | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1004% | 1h | 0.09890 | +0.339% | $5K | $239K | 12x | as long as short |
Aster DOGEUSDT
Pacifica DOGE
Binance DOGEUSDT
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
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
01 Exchange DOGEUSD
Reya DOGERUSDPERP
BloFin DOGE-USDT
GMX DOGE/USD [ETH-USDC]
Hyperliquid DOGE
Coinbase International DOGE-PERP-INTX
Arcus DOGE-USD
RISEx DOGE/USDC
Injective DOGE/USDC PERP