Funding arb · Price arb /

DOGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.027%

Price spread now: Backpack against HTX+0.261%7-day average −0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1as in the Price arb table

costs, in and out, $10k−$300.303% of the position

Long on HTX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.006%+$1 on $10k

Price spread, last 4 days (all we have)−0.310%−$31 · spread now +0.261%, 7d avg −0.034%

Together, before fees−0.305%−$30 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: Backpack is 0.295% dearer against HTX than usual: you sell high and buy low, +$30 on $10k if it goes back to its 7-day average of −0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX DOGE-USDT	0.09905	0.0100	pay 0.0100% / 8h	4h 54m	$5.9M	$56.9M	75x
Short	Backpack DOGE_USDC_PERP	0.09931	0.0100	get 0.0013% / 1h	54m 49s	$311K	$1.1M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against HTX. 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 HTXbpFee BackpackbpOrdersPrice spread, now +0.261%Rate

Funding earned: $0
Price spread: +0.261% → −0.034%: $29.5
Slippage, 4 orders: −$8.32
Fee HTX: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$0.81
Costs to cover: 0.303%
Break-even: never at this rate

Slippage from HTX: live order book, 4 min ago; Backpack: 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 HTX live order book, 4 min ago	2.32 bp	9.1 bp −$9	15.7 bp −$157	47.2 bp −$4,723	doesn't fit
Sell Backpack live order book, 4 min ago	0.50 bp	5.5 bp −$6	81.4 bp −$814	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	−0.0064%	8h	0.09914	+0.090%	$149.8M	$274.4M	75x	as long as short
Kraken Futures PF_DOGEUSD	−0.0032%	1h	0.09932	+0.270%	$5.7M	$35.4M	50x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.09935	+0.299%	$430K	$5.1M	2.8x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.09928	+0.230%	$23K	—	150x	as long as short
dYdX DOGE-USD	+0.0001%	1h	0.09920	+0.149%	$223K	$49K	10x	as long as short
Deribit DOGE_USDC-PERPETUAL	+0.0092%	1h	0.09935	+0.298%	$594K	$118K	25x	as long as short
Lighter DOGE	+0.0096%	1h	0.09927	+0.221%	$749K	$6.2M	15x	as long as short
Katana Perps DOGE-USD	+0.0100%	8h	0.09904	−0.011%	$895	$446K	10x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.09906	+0.009%	$527K	$1.0M	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.09927	+0.218%	$4.7M	$48.9M	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	0.09922	+0.172%	$322K	$482K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.09919	+0.143%	$316.8M	$1.45B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.09914	+0.090%	$160.4M	$441.4M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.09914	+0.090%	$110.8M	$987.9M	50x	as long as short
Gate DOGE_USDT	+0.0100%	8h	0.09921	+0.161%	$242.7M	$132.5M	75x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.09911	+0.060%	$112.0M	$232.8M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.09922	+0.171%	$65.5M	$43.4M	75x	as long as short
BingX DOGE-USDT	+0.0100%	8h	0.09921	+0.161%	—	$76.4M	—	as long as short
Backpack DOGE_USDC_PERPshort	+0.0100%	1h	0.09931	+0.261%	$311K	$1.1M	15x
Variational Omni DOGE	+0.0100%	8h	0.09912	+0.068%	$973K	$8.2M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.09876	−0.290%	$293K	$128.8M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.09883	−0.219%	$622K	$4.4M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.09870	−0.354%	$143K	$282K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.09910	+0.045%	$255K	$766K	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.09933	+0.282%	$70K	$438K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.09933	+0.280%	$24K	$1K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.09934	+0.294%	$35K	$2.2M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.09931	+0.261%	$2K	$3.9M	10x	as long as short
HTX DOGE-USDTlong	+0.0100%	8h	0.09905	long leg	$5.9M	$56.9M	75x
Phemex DOGEUSDT	+0.0100%	8h	0.09933	+0.282%	$91.3M	$16.6M	50x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.09900	−0.051%	$379K	$0	10x	as long as short
Paradex DOGE-USD-PERP	+0.0101%	8h	0.09914	+0.093%	$18K	$7K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.09923	+0.183%	$495K	$4.0M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.09933	+0.283%	$19K	—	3x	as long as short
Reya DOGERUSDPERP	+0.0188%	1h	0.09917	+0.123%	$2K	—	20x	as long as short
01 Exchange DOGEUSD	+0.0200%	1h	0.09913	+0.084%	$528	$4K	10x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.09933	+0.282%	$15.6M	$25.1M	75x	as long as short
Phoenix DOGE	+0.0240%	1h	0.09915	+0.097%	$64K	$288K	10x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0246% / S −0.0269%	1h	0.09927	+0.216%	$310K	—	200x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0296%	1h	0.09941	+0.362%	$2.3M	$26.6M	50x	as long as short
Hyperliquid DOGE	+0.0353%	1h	0.09930	+0.248%	$120.9M	$99.7M	10x	as long as short
Arcus DOGE-USD	+0.0690%	1h	0.09922	+0.171%	$117K	$189K	10x	as long as short
RISEx DOGE/USDC	+0.0695%	1h	0.09916	+0.112%	$400K	$411K	10x	as long as short
Injective DOGE/USDC PERP	+0.1004%	1h	0.09950	+0.453%	$5K	$239K	12x	as long as short