Funding arb · Price arb /

DOGE

all DOGE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0904%/8h= −98.9% APRpaid last 24h −0.202%

Price spread now: MEXC against Injective−0.341%7-day average −0.193% · you buy dearer than you sell

Net, funding: paid 7d − costs−$214as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$600.605% of the position

Long on Injective Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−1.538%−$154 on $10k

Price spread, last 3 days (all we have)+0.314%+$31 · spread now −0.341%, 7d avg −0.193%

Together, before fees−1.224%−$122 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$27 a day on $10k at the current rate, and MEXC is 0.148% cheaper against Injective than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.193%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective DOGE/USDC PERP	0.09980	0.1004	pay 0.0125% / 1h	24m 35s	$5K	$239K	12x
Short	MEXC DOGE_USDT	0.09946	0.0100	get 0.0100% / 8h	6h 24m	$110.7M	$229.6M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Injective. 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 InjectivebpFee MEXCbpOrdersPrice spread, now −0.341%Rate

Funding earned: −$189.75
Price spread: −0.341% → −0.193%: −$14.79
Slippage, 4 orders: −$60.47
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee MEXC: 0 bp × 2 orders: $0
Net: −$265.03
Costs to cover: 0.605%
Break-even: never at this rate

Slippage from Injective: live order book, 44 min ago; MEXC: live order book, 5 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, 44 min ago	29.73 bp	29.7 bp −$30	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	0.50 bp	0.5 bp −$1	1.6 bp −$16	10.0 bp −$1,001	41.0 bp −$20.5K

DOGE on 43 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	−0.0111%	8h	0.09938	−0.421%	$150.5M	$273.1M	75x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.09970	−0.099%	$392K	$5.0M	2.8x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.09978	−0.020%	$23K	—	150x	as long as short
dYdX DOGE-USD	+0.0016%	1h	0.09963	−0.174%	$224K	$49K	10x	as long as short
Deribit DOGE_USDC-PERPETUAL	+0.0041%	1h	0.09976	−0.036%	$596K	$118K	25x	as long as short
Kraken Futures PF_DOGEUSD	+0.0066%	1h	0.09974	−0.061%	$5.8M	$34.1M	50x	as long as short
Lighter DOGE	+0.0096%	1h	0.09971	−0.086%	$794K	$6.0M	15x	as long as short
Katana Perps DOGE-USD	+0.0099%	8h	0.09945	−0.351%	$831	$428K	10x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.09952	−0.281%	$530K	$990K	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.09969	−0.115%	$4.6M	$48.2M	75x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica DOGE	+0.0100%	1h	0.09964	−0.165%	$327K	$503K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.09948	−0.324%	$315.0M	$1.43B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.09945	−0.351%	$157.4M	$442.2M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.09949	−0.311%	$109.7M	$978.1M	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.09959	−0.210%	$128K	$178K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.09984	+0.038%	$383K	$5K	10x	as long as short
Gate DOGE_USDT	+0.0100%	8h	0.09946	−0.341%	$241.2M	$132.4M	75x	as long as short
MEXC DOGE_USDTshort	+0.0100%	8h	0.09946	−0.341%	$110.7M	$229.6M	300x
KuCoin DOGEUSDTM	+0.0100%	8h	0.09969	−0.110%	$65.9M	$43.0M	75x	as long as short
BingX DOGE-USDT	+0.0100%	8h	0.09947	−0.331%	—	$76.5M	—	as long as short
Backpack DOGE_USDC_PERP	+0.0100%	1h	0.09968	−0.120%	$341K	$1.1M	15x	as long as short
Variational Omni DOGE	+0.0100%	8h	0.09990	+0.099%	$985K	$8.2M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.09982	+0.024%	$282K	$128.4M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.09988	+0.080%	$634K	$4.5M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.09950	−0.301%	$145K	$270K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.09967	−0.128%	$257K	$642K	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.09977	−0.030%	$70K	$440K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.09972	−0.085%	$24K	$1K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.09971	−0.091%	$35K	$2.2M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.09976	−0.040%	$2K	$3.7M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.09977	−0.029%	$5.9M	$54.8M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.09973	−0.070%	$91.9M	$17.1M	50x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.09944	−0.362%	$561K	$4.0M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.09976	−0.043%	$19K	—	3x	as long as short
Paradex DOGE-USD-PERP	+0.0110%	8h	0.09947	−0.327%	$18K	$6K	30x	as long as short
Reya DOGERUSDPERP	+0.0184%	1h	0.09973	−0.072%	$2K	—	20x	as long as short
01 Exchange DOGEUSD	+0.0200%	1h	0.09952	−0.285%	$530	$4K	10x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0240%	1h	0.09986	+0.060%	$2.0M	$25.1M	50x	as long as short
Phoenix DOGE	+0.0241%	1h	0.09998	+0.181%	$65K	$284K	10x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0245% / S −0.0267%	1h	0.09977	−0.030%	$311K	—	200x	as long as short
RISEx DOGE/USDC	+0.0563%	1h	0.09953	−0.267%	$400K	$367K	10x	as long as short
Hyperliquid DOGE	+0.0710%	1h	0.09978	−0.019%	$121.8M	$97.4M	10x	as long as short
Injective DOGE/USDC PERPlong	+0.1004%	1h	0.09980	long leg	$5K	$239K	12x