Funding you earn now, next payment 06:00 UTC−0.0150%/8h= −16.4% APRpaid last 24h −0.038%
Price spread now: Phemex against GMX+0.029%7-day average −0.006% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.137%−$14 on $10k
+Price spread, last 4 days (all we have)−0.079%−$8 · spread now +0.029%, 7d avg −0.006%
=The price spread pays, funding is against you. Phemex is 0.035% dearer against GMX than usual: you sell high and buy low (spread +0.029% now, against its 7-day average of −0.006%): +$4 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 19 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX DOGE/USD [ETH-USDC] | 0.09912 | L +0.0250% / S −0.0288% | pay 0.0031% / 1h | 14m 57s | $315K | — | 200x |
| Short | Phemex DOGEUSDT | 0.09915 | 0.0100 | get 0.0100% / 8h | 2h 14m | $91.1M | $17.1M | 50x |
GMX DOGE/USD [ETH-USDC]
Phemex DOGEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against GMX. 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
- −$31.43
- Price spread: +0.029% → −0.006%
- $3.5
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$51.93
- Costs to cover
- 0.240%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Phemex: live order book, 4 min ago. Net counts fees only.
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 GMX no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 4 min ago | 2.52 bp | 10.8 bp −$11 | 19.0 bp −$190 | 35.1 bp −$3,511 | doesn't fit |
GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | 0.09917 | +0.048% | $595K | $6.5M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.09913 | +0.004% | $34K | — | 150x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0002% | 1h | 0.09915 | +0.031% | $5.6M | $39.9M | 50x | as long as short |
| dYdX DOGE-USD | +0.0031% | 1h | 0.09915 | +0.032% | $223K | $70K | 10x | as long as short |
| Polymarket Perps DOGE-USD | +0.0037% | 1h | 0.09909 | −0.032% | $267K | $1.2M | 10x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.09923 | +0.111% | $846K | $6.8M | 15x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.09915 | +0.029% | $538K | $1.1M | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.09913 | +0.014% | $4.4M | $57.3M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.09920 | +0.076% | $317K | $514K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.09914 | +0.019% | $324.1M | $1.69B | 75x | as long as short |
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
Kraken Futures PF_DOGEUSD
dYdX DOGE-USD
Polymarket Perps DOGE-USD
Lighter DOGE
Nado DOGE-PERP
Aster DOGEUSDT
Pacifica DOGE
Binance DOGEUSDTShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09910 | −0.021% | $163.1M | $517.7M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09915 | +0.029% | $115.9M | $1.17B | 50x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09881 | −0.317% | $379K | $16K | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.09911 | −0.011% | $246.5M | $153.8M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09914 | +0.019% | $110.1M | $255.9M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09915 | +0.029% | $66.0M | $49.7M | 75x | as long as short |
| Bitget DOGEUSDT | +0.0100% | 8h | 0.09905 | −0.072% | $140.1M | $339.7M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.09912 | −0.001% | — | $80.5M | — | as long as short |
| Backpack DOGE_USDC_PERP | +0.0100% | 1h | 0.09917 | +0.049% | $298K | $1.3M | 15x | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.09907 | −0.053% | $1.1M | $8.7M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.09920 | +0.078% | $312K | $139.3M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.09927 | +0.150% | $624K | $4.7M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.09920 | +0.080% | $147K | $344K | 25x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.09913 | +0.009% | $67K | $473K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.09913 | +0.005% | $19K | $7K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09921 | +0.089% | $35K | $2.3M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.09915 | +0.029% | $2K | $5.3M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09918 | +0.060% | $5.9M | $68.1M | 75x | as long as short |
| Phemex DOGEUSDTshort | +0.0100% | 8h | 0.09915 | +0.029% | $91.1M | $17.1M | 50x | |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.09915 | +0.034% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09908 | −0.038% | $482K | $4.1M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.09914 | +0.018% | $19K | — | 3x | as long as short |
| Hyperliquid DOGE | +0.0105% | 1h | 0.09924 | +0.120% | $123.0M | $115.7M | 10x | as long as short |
| Katana Perps DOGE-USD | +0.0111% | 8h | 0.09914 | +0.019% | $888 | $527K | 10x | as long as short |
| Reya DOGERUSDPERP | +0.0195% | 1h | 0.09912 | −0.003% | $2K | — | 20x | as long as short |
| 01 Exchange DOGEUSD | +0.0200% | 1h | 0.09921 | +0.088% | $441 | $4K | 10x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.09916 | +0.039% | $15.9M | $26.8M | 75x | as long as short |
| Arcus DOGE-USD | +0.0231% | 1h | 0.09920 | +0.080% | $27K | $299K | 10x | as long as short |
| Phoenix DOGE | +0.0240% | 1h | 0.09930 | +0.182% | $18K | $382K | 10x | as long as short |
| GMX DOGE/USD [ETH-USDC]long | L +0.0250% / S −0.0288% | 1h | 0.09912 | long leg | $315K | — | 200x | |
| Deribit DOGE_USDC-PERPETUAL | +0.0275% | 1h | 0.09918 | +0.062% | $563K | $247K | 25x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0304% | 1h | 0.09921 | +0.090% | $1.9M | $34.1M | 50x | as long as short |
| RISEx DOGE/USDC | +0.0686% | 1h | 0.09922 | +0.099% | $400K | $445K | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1217% | 1h | 0.1053 | +6.234% | $6K | $242K | 12x | as long as short |
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Bulk DOGE-USD
Gate DOGE_USDT
MEXC DOGE_USDT
KuCoin DOGEUSDTM
Bitget DOGEUSDT
BingX DOGE-USDT
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
Paradex DOGE-USD-PERP
Extended DOGE-USD
Aevo DOGE-PERP
Hyperliquid DOGE
Katana Perps DOGE-USD
Reya DOGERUSDPERP
01 Exchange DOGEUSD
BloFin DOGE-USDT
Arcus DOGE-USD
Phoenix DOGE
Deribit DOGE_USDC-PERPETUAL
Coinbase International DOGE-PERP-INTX
RISEx DOGE/USDC
Injective DOGE/USDC PERP