Funding you earn now, next payment 23:00 UTC−0.0553%/8h= −60.6% APRnext payment −$0.69 per $10,000 · paid last 24h −0.180%
Price spread now: Backpack against Injective−0.169%72s7-day average −0.199% · you buy dearer than you sell
Net, funding: paid 7d − costs−$229as 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−$820.817% of the position
Funding, last 7 days−1.476%−$148 on $10k
+Price spread, last 3 days (all we have)+0.203%+$20 · spread now −0.169%, 7d avg −0.199%
=The price spread pays, funding is against you. Backpack is 0.030% dearer against Injective than usual: you sell high and buy low (spread −0.169% now, against its 7-day average of −0.199%): +$3 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 4 hours. The two prices were read 72 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 | Injective DOGE/USDC PERP | 0.1006 | 0.0966 | pay 0.0121% / 1h | 59m 34s | $5K | $239K | 12x |
| Short | Backpack DOGE_USDC_PERP | 0.1004 | 0.0413 | get 0.0052% / 1h | 59m 34s | $536K | $959K | 15x |
Injective DOGE/USDC PERP
Backpack DOGE_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Injective. 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
- −$116.13
- Price spread: −0.169% → −0.199%
- $3.02
- Slippage, 4 orders
- −$71.67
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$194.81
- Costs to cover
- 0.817%
- Break-even
- never at this rate
Slippage from Injective: live order book, 19 min ago; Backpack: live order book, 19 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 Injective live order book, 19 min ago | 34.84 bp | 34.9 bp −$35 | doesn't fit | doesn't fit | doesn't fit |
| Sell Backpack live order book, 19 min ago | 0.50 bp | 5.9 bp −$6 | 12.4 bp −$124 | 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 | −0.0254% | 8h | 0.1002 | −0.437% | $153.0M | $267.0M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.1002 | −0.367% | $415K | $4.7M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S −0.0001% | 1h | 0.1004 | −0.198% | $32K | — | 150x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0009% | 1h | 0.1004 | −0.216% | $608K | $109K | 25x | as long as short |
| dYdX DOGE-USD | +0.0066% | 1h | 0.1002 | −0.350% | $225K | $44K | 10x | as long as short |
| Phoenix DOGE | +0.0081% | 1h | 0.1004 | −0.212% | $66K | $222K | 10x | as long as short |
| Gate DOGE_USDT | +0.0094% | 8h | 0.1002 | −0.417% | $241.3M | $124.5M | 75x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.1003 | −0.273% | $790K | $5.4M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0097% | 8h | 0.1002 | −0.378% | $837 | $375K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1004 | −0.229% | $573K | $865K | 10x | as long as short |
Bitget DOGEUSDT
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
Deribit DOGE_USDC-PERPETUAL
dYdX DOGE-USD
Phoenix DOGE
Gate DOGE_USDT
Lighter DOGE
Katana Perps DOGE-USD
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 | 0.1003 | −0.345% | $5.0M | $44.2M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.1003 | −0.308% | $334K | $504K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.1002 | −0.358% | $318.9M | $1.33B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.1002 | −0.398% | $159.1M | $423.4M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1003 | −0.348% | $109.5M | $934.0M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.1003 | −0.298% | $28K | $77K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.1004 | −0.236% | $385K | $12K | 10x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1002 | −0.358% | $116.3M | $217.2M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1002 | −0.358% | $66.1M | $41.3M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.1002 | −0.358% | — | $74.8M | — | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.1001 | −0.535% | $1.0M | $8.1M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1003 | −0.330% | $277K | $116.9M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1001 | −0.466% | $638K | $4.5M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1003 | −0.298% | $147K | $246K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.1004 | −0.219% | $264K | $546K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.1004 | −0.209% | $73K | $432K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1004 | −0.203% | $25K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1005 | −0.145% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1004 | −0.229% | $2K | $3.6M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1004 | −0.210% | $6.0M | $50.7M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.1004 | −0.239% | $92.9M | $19.2M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.1002 | −0.371% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1002 | −0.402% | $554K | $3.6M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1004 | −0.234% | $19K | — | 3x | as long as short |
| Reya DOGERUSDPERP | +0.0178% | 1h | 0.1004 | −0.204% | $2K | — | 20x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0216% | 1h | 0.1004 | −0.189% | $2.0M | $23.8M | 50x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.1001 | −0.477% | $15.3M | $24.9M | 75x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0245% / S −0.0209% | 1h | 0.1004 | −0.205% | $345K | — | 200x | as long as short |
| 01 Exchange DOGEUSD | +0.0272% | 1h | 0.1003 | −0.320% | $529 | $4K | 10x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0363% | 1h | 0.1003 | −0.260% | $6.0M | $32.9M | 50x | as long as short |
| Backpack DOGE_USDC_PERPshort | +0.0413% | 1h | 0.1004 | −0.169% | $536K | $959K | 15x | |
| Hyperliquid DOGE | +0.0616% | 1h | 0.1005 | −0.119% | $114.8M | $85.3M | 10x | as long as short |
| RISEx DOGE/USDC | +0.0708% | 1h | 0.1003 | −0.308% | $314K | $475K | 10x | as long as short |
| Injective DOGE/USDC PERPlong | +0.0966% | 1h | 0.1006 | long leg | $5K | $239K | 12x |
Aster DOGEUSDT
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Arcus DOGE-USD
Bulk DOGE-USD
MEXC DOGE_USDT
KuCoin DOGEUSDTM
BingX DOGE-USDT
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
Coinbase International DOGE-PERP-INTX
BloFin DOGE-USDT
GMX DOGE/USD [ETH-USDC]
01 Exchange DOGEUSD
Kraken Futures PF_DOGEUSD
Hyperliquid DOGE
RISEx DOGE/USDC