Funding arb · Price arb /

DOGE

all DOGE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: Bulk against Kalshi+0.331%7-day average +0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$420.421% of the position

Long on Kalshi Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.105%+$11 on $10k

Price spread, last 4 days (all we have)−0.742%−$74 · spread now +0.331%, 7d avg +0.051%

Together, before fees−0.637%−$64 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Bulk is 0.280% dearer against Kalshi than usual: you sell high and buy low: +$28 more if the spread goes back to its 7-day average of +0.051%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXDOGEPERP	0.09962	0	get 0.0000% / 8h	1h 37m	$443K	$5.1M	2.8x
Short	Bulk DOGE-USD	0.09995	0.0100	get 0.0013% / 1h	37m 17s	$383K	$5K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Kalshi. 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 KalshibpFee BulkbpOrdersPrice spread, now +0.331%Rate

Funding earned: $21
Price spread: +0.331% → +0.051%: $28.05
Slippage, 4 orders: −$25.11
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $6.94
Costs to cover: 0.421%
Break-even: 4.7 days

Slippage from Kalshi: live order book, 1 min ago; Bulk: live order book, 27 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 Kalshi live order book, 1 min ago	4.42 bp	11.0 bp −$11	17.3 bp −$173	doesn't fit	doesn't fit
Sell Bulk live order book, 27 min ago	4.99 bp	8.5 bp −$8	8.5 bp −$85	16.7 bp −$1,670	28.5 bp −$14.3K

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	−0.0093%	8h	0.09951	−0.108%	$150.7M	$273.8M	75x	as long as short
dYdX DOGE-USD	0.0000%	1h	0.09950	−0.123%	$223K	$49K	10x	as long as short
Kalshi KXDOGEPERPlong	0.0000%	8h	0.09962	long leg	$443K	$5.1M	2.8x
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.09962	0.000%	$24K	—	150x	as long as short
Lighter DOGE	+0.0096%	1h	0.09957	−0.052%	$797K	$6.1M	15x	as long as short
Katana Perps DOGE-USD	+0.0099%	8h	0.09952	−0.098%	$899	$437K	10x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.09972	+0.102%	$531K	$991K	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.09954	−0.079%	$4.7M	$48.6M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.09952	−0.103%	$327K	$483K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.09965	+0.032%	$319.4M	$1.44B	75x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit DOGEUSDT	+0.0100%	8h	0.09964	+0.022%	$160.6M	$440.8M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.09963	+0.012%	$111.4M	$986.1M	50x	as long as short
Bulk DOGE-USDshort	+0.0100%	1h	0.09995	+0.331%	$383K	$5K	10x
Gate DOGE_USDT	+0.0100%	8h	0.09961	−0.008%	$243.4M	$132.1M	75x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.09964	+0.022%	$112.7M	$230.0M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.09966	+0.042%	$65.9M	$43.3M	75x	as long as short
BingX DOGE-USDC	+0.0100%	8h	0.09955	−0.068%	—	$3.5M	—	as long as short
Backpack DOGE_USDC_PERP	+0.0100%	1h	0.09941	−0.209%	$327K	$1.1M	15x	as long as short
Variational Omni DOGE	+0.0100%	8h	0.09971	+0.088%	$997K	$8.2M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.09974	+0.121%	$297K	$129.5M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.09956	−0.059%	$627K	$4.4M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.09970	+0.082%	$145K	$277K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.09964	+0.020%	$255K	$731K	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.09959	−0.028%	$70K	$440K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.09957	−0.044%	$24K	$1K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.09972	+0.099%	$35K	$2.2M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.09960	−0.018%	$2K	$3.9M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.09961	−0.003%	$5.9M	$56.5M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.09966	+0.042%	$91.8M	$16.7M	50x	as long as short
Deribit DOGE_USDC-PERPETUAL	+0.0102%	1h	0.09959	−0.025%	$595K	$118K	25x	as long as short
Paradex DOGE-USD-PERP	+0.0104%	8h	0.09958	−0.037%	$18K	$6K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.09956	−0.055%	$533K	$4.0M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.09959	−0.028%	$19K	—	3x	as long as short
Reya DOGERUSDPERP	+0.0186%	1h	0.09964	+0.024%	$2K	—	20x	as long as short
01 Exchange DOGEUSD	+0.0208%	1h	0.09961	−0.010%	$531	$4K	10x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.09951	−0.108%	$15.6M	$25.1M	75x	as long as short
Phoenix DOGE	+0.0240%	1h	0.09990	+0.280%	$65K	$288K	10x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0246% / S −0.0267%	1h	0.09962	+0.002%	$310K	—	200x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0248%	1h	0.09964	+0.022%	$2.3M	$26.1M	50x	as long as short
Kraken Futures PF_DOGEUSD	+0.0307%	1h	0.09959	−0.024%	$5.7M	$35.0M	50x	as long as short
Hyperliquid DOGE	+0.0438%	1h	0.09979	+0.171%	$121.8M	$99.6M	10x	as long as short
RISEx DOGE/USDC	+0.0747%	1h	0.09964	+0.027%	$401K	$368K	10x	as long as short
Arcus DOGE-USD	+0.0781%	1h	0.09970	+0.082%	$128K	$179K	10x	as long as short
Injective DOGE/USDC PERP	+0.1072%	1h	0.1002	+0.584%	$5K	$239K	12x	as long as short