Funding you earn now, next payment 02:00 UTC−0.0113%/8h= −12.4% APRnext payment −$0.14 per $10,000 · paid last 24h −0.146%
Price spread now: Phoenix against Hyperliquid−0.151%7-day average −0.025% · you buy dearer than you sell
Net, funding: paid 7d − costs−$70as in the Funding arb table
Net, price: spread back to 7d avg − costs−$49as in the Price arb table
costs, in and out, $10k−$370.365% of the position
Funding, last 7 days−0.338%−$34 on $10k
+Price spread, last 4 days (all we have)+0.429%+$43 · spread now −0.151%, 7d avg −0.025%
=Together, before fees+0.091%+ Points / potential airdropHyperliquid: Season 2 · farm board+$9 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Phoenix is 0.126% cheaper against Hyperliquid than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.025%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid DOGE | 0.09930 | 0.0353 | pay 0.0044% / 1h | 54m 33s | $120.9M | $99.7M | 10x |
| Short | Phoenix DOGE | 0.09915 | 0.0240 | get 0.0030% / 1h | 54m 33s | $64K | $288K | 10x |
Hyperliquid DOGE
Phoenix DOGEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Hyperliquid. 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
- −$23.72
- Price spread: −0.151% → −0.025%
- −$12.59
- Slippage, 4 orders
- −$20.5
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$72.81
- Costs to cover
- 0.365%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 9 min ago; Phoenix: live order book, 63 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 Hyperliquid live order book, 9 min ago | 0.10 bp | 6.6 bp −$7 | 9.0 bp −$90 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 63 min ago | 1.00 bp | 12.4 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 | −0.0063% | 8h | 0.09904 | −0.259% | $149.7M | $274.4M | 75x | as long as short |
| Kraken Futures PF_DOGEUSD | −0.0032% | 1h | 0.09932 | +0.022% | $5.7M | $35.4M | 50x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.09935 | +0.050% | $430K | $5.1M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.09928 | −0.018% | $23K | — | 150x | as long as short |
| dYdX DOGE-USD | +0.0001% | 1h | 0.09920 | −0.100% | $223K | $49K | 10x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0092% | 1h | 0.09935 | +0.049% | $594K | $118K | 25x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.09927 | −0.027% | $749K | $6.2M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0099% | 8h | 0.09904 | −0.259% | $895 | $446K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.09914 | −0.158% | $528K | $1.0M | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.09923 | −0.067% | $4.7M | $48.9M | 75x | as long as short |
Bitget DOGEUSDT
Kraken Futures PF_DOGEUSD
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
dYdX DOGE-USD
Deribit DOGE_USDC-PERPETUAL
Lighter DOGE
Katana Perps DOGE-USD
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 | 0.09922 | −0.077% | $322K | $482K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.09911 | −0.186% | $316.6M | $1.45B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09908 | −0.219% | $160.2M | $441.4M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09909 | −0.208% | $110.6M | $987.4M | 50x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09930 | +0.003% | $381K | $0 | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.09916 | −0.138% | $242.6M | $132.5M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09911 | −0.188% | $112.0M | $232.8M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09922 | −0.078% | $65.5M | $43.4M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.09912 | −0.178% | — | $76.4M | — | as long as short |
| Backpack DOGE_USDC_PERP | +0.0100% | 1h | 0.09931 | +0.013% | $311K | $1.1M | 15x | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.09912 | −0.180% | $973K | $8.2M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.09876 | −0.537% | $293K | $128.8M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.09883 | −0.466% | $622K | $4.4M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.09870 | −0.601% | $143K | $282K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.09910 | −0.202% | $255K | $766K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.09933 | +0.033% | $70K | $438K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.09933 | +0.032% | $24K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09934 | +0.045% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.09931 | +0.013% | $2K | $3.9M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09905 | −0.248% | $5.9M | $56.9M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.09933 | +0.033% | $91.3M | $16.6M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0101% | 8h | 0.09914 | −0.155% | $18K | $7K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09907 | −0.232% | $495K | $4.0M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.09933 | +0.034% | $19K | — | 3x | as long as short |
| Reya DOGERUSDPERP | +0.0188% | 1h | 0.09917 | −0.125% | $2K | — | 20x | as long as short |
| 01 Exchange DOGEUSD | +0.0200% | 1h | 0.09913 | −0.167% | $528 | $4K | 10x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.09933 | +0.033% | $15.6M | $25.1M | 75x | as long as short |
| Phoenix DOGEshort | +0.0240% | 1h | 0.09915 | −0.151% | $64K | $288K | 10x | |
| GMX DOGE/USD [ETH-USDC] | L +0.0246% / S −0.0269% | 1h | 0.09927 | −0.032% | $310K | — | 200x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0296% | 1h | 0.09941 | +0.114% | $2.3M | $26.6M | 50x | as long as short |
| Hyperliquid DOGElong | +0.0353% | 1h | 0.09930 | long leg | $120.9M | $99.7M | 10x | |
| Arcus DOGE-USD | +0.0690% | 1h | 0.09922 | −0.078% | $117K | $189K | 10x | as long as short |
| RISEx DOGE/USDC | +0.0695% | 1h | 0.09916 | −0.138% | $400K | $411K | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1004% | 1h | 0.09950 | +0.204% | $5K | $239K | 12x | as long as short |
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
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
Reya DOGERUSDPERP
01 Exchange DOGEUSD
BloFin DOGE-USDT
GMX DOGE/USD [ETH-USDC]
Coinbase International DOGE-PERP-INTX
Arcus DOGE-USD
RISEx DOGE/USDC
Injective DOGE/USDC PERP