Funding you earn now, next payment 04:00 UTC−0.0019%/8h= −2.0% APRnext payment −$0.02 per $10,000 · paid last 24h −0.040%
Price spread now: Phoenix against GMX+0.930%65s7-day average +0.010% · 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)−0.191%−$19 on $10k
+Price spread, last 4 days (all we have)−0.979%−$98 · spread now +0.930%, 7d avg +0.010%
=The price spread pays, funding is against you. Phoenix is 0.920% dearer against GMX than usual: you sell high and buy low (spread +0.930% now, against its 7-day average of +0.010%): +$92 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5 months. At the pace of the last 3 days (−0.191% in total) that is about 16 days. The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX DOGE/USD [ETH-USDC] | 0.1005 | L +0.0253% / S −0.0292% | pay 0.0032% / 1h | 8m 23s | $328K | — | 200x |
| Short | Phoenix DOGE | 0.1015 | 0.0235 | get 0.0029% / 1h | 8m 23s | $18K | $292K | 10x |
GMX DOGE/USD [ETH-USDC]
Phoenix DOGEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- −$3.91
- Price spread: +0.930% → +0.010%
- $92.01
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $69.11
- Costs to cover
- 0.190%
- Break-even
- from the start
Slippage unknown: GMX: no order-book sample; Phoenix: live order book, 39 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 Phoenix live order book, 39 min ago | 0.95 bp | 12.3 bp −$12 | 43.0 bp −$430 | doesn't fit | 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 | 0.1008 | +0.205% | $659K | $6.3M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.1006 | +0.028% | $24K | — | 150x | as long as short |
| dYdX DOGE-USD | +0.0018% | 1h | 0.1004 | −0.143% | $225K | $70K | 10x | as long as short |
| Bitget DOGEUSDT | +0.0089% | 8h | 0.1008 | +0.202% | $130.5M | $318.9M | 75x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.1005 | −0.022% | $743K | $6.5M | 15x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1005 | −0.087% | $551K | $1.1M | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.1006 | +0.022% | $4.8M | $55.1M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.1004 | −0.116% | $321K | $520K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.1006 | +0.067% | $329.1M | $1.63B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.1007 | +0.112% | $162.8M | $504.3M | 75x | as long as short |
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
dYdX DOGE-USD
Bitget DOGEUSDT
Lighter DOGE
Nado DOGE-PERP
Aster DOGEUSDT
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDTShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1007 | +0.122% | $114.5M | $1.15B | 50x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.1016 | +1.066% | $390K | $16K | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.1006 | +0.003% | $247.0M | $147.6M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1005 | −0.007% | $113.6M | $248.3M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1006 | +0.003% | $66.2M | $48.5M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.1006 | +0.043% | — | $79.5M | — | as long as short |
| Backpack DOGE_USDC_PERP | +0.0100% | 1h | 0.1006 | +0.023% | $325K | $1.2M | 15x | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.1013 | +0.755% | $1.1M | $8.6M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1017 | +1.107% | $324K | $136.3M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1016 | +1.077% | $644K | $4.7M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1017 | +1.147% | $153K | $330K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.1005 | −0.087% | $261K | $1.1M | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.1007 | +0.112% | $65K | $458K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1006 | +0.099% | $19K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1007 | +0.178% | $35K | $2.3M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1007 | +0.182% | $2K | $5.1M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1007 | +0.150% | $6.0M | $65.9M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.1008 | +0.202% | $92.7M | $17.1M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.1004 | −0.178% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1007 | +0.126% | $483K | $4.1M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1007 | +0.187% | $19K | — | 3x | as long as short |
| Katana Perps DOGE-USD | +0.0119% | 8h | 0.1004 | −0.166% | $2K | $503K | 10x | as long as short |
| Reya DOGERUSDPERP | +0.0193% | 1h | 0.1005 | −0.036% | $2K | — | 20x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.1006 | +0.083% | $16.3M | $26.8M | 75x | as long as short |
| 01 Exchange DOGEUSD | +0.0232% | 1h | 0.1004 | −0.099% | $447 | $4K | 10x | as long as short |
| Phoenix DOGEshort | +0.0235% | 1h | 0.1015 | +0.930% | $18K | $292K | 10x | |
| Kraken Futures PF_DOGEUSD | +0.0250% | 1h | 0.1007 | +0.190% | $5.5M | $39.8M | 50x | as long as short |
| GMX DOGE/USD [ETH-USDC]long | L +0.0253% / S −0.0292% | 1h | 0.1005 | long leg | $328K | — | 200x | |
| Coinbase International DOGE-PERP-INTX | +0.0304% | 1h | 0.1008 | +0.222% | $2.1M | $33.3M | 50x | as long as short |
| Hyperliquid DOGE | +0.0400% | 1h | 0.1006 | +0.053% | $125.0M | $112.2M | 10x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0435% | 1h | 0.1008 | +0.227% | $572K | $247K | 25x | as long as short |
| Arcus DOGE-USD | +0.0634% | 1h | 0.1005 | −0.017% | $109K | $207K | 10x | as long as short |
| RISEx DOGE/USDC | +0.0728% | 1h | 0.1005 | −0.082% | $405K | $433K | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1062% | 1h | 0.1053 | +4.727% | $6K | $242K | 12x | as long as short |
OKX DOGE-USDT-SWAP
Bulk DOGE-USD
Gate DOGE_USDT
MEXC DOGE_USDT
KuCoin DOGEUSDTM
BingX DOGE-USDT
Backpack DOGE_USDC_PERP
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
Katana Perps DOGE-USD
Reya DOGERUSDPERP
BloFin DOGE-USDT
01 Exchange DOGEUSD
Kraken Futures PF_DOGEUSD
Coinbase International DOGE-PERP-INTX
Hyperliquid DOGE
Deribit DOGE_USDC-PERPETUAL
Arcus DOGE-USD
RISEx DOGE/USDC
Injective DOGE/USDC PERP