Funding arb · Price arb /

DOGE

all DOGE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0034%/8h= +3.7% APRpaid last 24h −0.031%

Price spread now: Phemex against Kraken Futures−0.007%7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$530.533% of the position

Long on Kraken Futures Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.036%−$4 on $10k

Price spread, last 3 days (all we have)−0.005%$0 · spread now −0.007%, 7d avg +0.001%

Together, before fees−0.041%−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.001%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_DOGEUSD	0.1002	0.0066	pay 0.0008% / 1h	4m 07s	$5.8M	$34.6M	50x
Short	Phemex DOGEUSDT	0.1002	0.0100	get 0.0100% / 8h	6h 04m	$92.3M	$16.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Kraken Futures. 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 Kraken FuturesbpFee PhemexbpOrdersPrice spread, now −0.007%Rate

Funding earned: $7.12
Price spread: −0.007% → +0.001%: −$0.83
Slippage, 4 orders: −$31.28
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$46.99
Costs to cover: 0.533%
Break-even: 53.2 days

Slippage from Kraken Futures: live order book, 5 min ago; Phemex: 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 Kraken Futures live order book, 5 min ago	2.01 bp	11.1 bp −$11	14.1 bp −$141	32.5 bp −$3,255	doesn't fit
Sell Phemex live order book, 5 min ago	4.52 bp	15.7 bp −$16	24.8 bp −$248	39.7 bp −$3,973	doesn't fit

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	−0.0095%	8h	0.1002	−0.057%	$151.7M	$273.1M	75x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.1004	+0.226%	$396K	$5.0M	2.8x	as long as short
Deribit DOGE_USDC-PERPETUAL	0.0000%	1h	0.1002	+0.002%	$599K	$118K	25x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.1003	+0.084%	$23K	—	150x	as long as short
dYdX DOGE-USD	+0.0010%	1h	0.1004	+0.192%	$225K	$49K	10x	as long as short
Kraken Futures PF_DOGEUSDlong	+0.0066%	1h	0.1002	long leg	$5.8M	$34.6M	50x
Lighter DOGE	+0.0096%	1h	0.1003	+0.108%	$826K	$6.1M	15x	as long as short
Katana Perps DOGE-USD	+0.0099%	8h	0.1004	+0.192%	$1K	$428K	10x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.1004	+0.212%	$537K	$987K	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.1003	+0.086%	$4.7M	$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	0.1005	+0.260%	$330K	$503K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.1003	+0.049%	$319.3M	$1.43B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.1002	+0.023%	$159.7M	$437.2M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.1003	+0.053%	$111.3M	$986.4M	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.1006	+0.372%	$129K	$178K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.1002	−0.050%	$384K	$5K	10x	as long as short
Gate DOGE_USDT	+0.0100%	8h	0.1002	+0.003%	$243.2M	$133.5M	75x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.1002	+0.023%	$114.2M	$232.1M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.1002	+0.003%	$66.3M	$43.1M	75x	as long as short
BingX DOGE-USDT	+0.0100%	8h	0.1002	+0.013%	—	$76.4M	—	as long as short
Backpack DOGE_USDC_PERP	+0.0100%	1h	0.1002	+0.003%	$345K	$1.1M	15x	as long as short
Variational Omni DOGE	+0.0100%	8h	0.1002	−0.050%	$999K	$8.2M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.09999	−0.216%	$294K	$129.2M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.09943	−0.778%	$631K	$4.5M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.1000	−0.207%	$146K	$272K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.1004	+0.172%	$257K	$645K	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.1002	+0.003%	$70K	$440K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.1002	−0.007%	$25K	$1K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.1004	+0.232%	$36K	$2.2M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.1002	−0.007%	$2K	$3.8M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.1003	+0.119%	$5.9M	$55.4M	75x	as long as short
Phemex DOGEUSDTshort	+0.0100%	8h	0.1002	−0.007%	$92.3M	$16.8M	50x
Extended DOGE-USD	+0.0104%	1h	0.1002	−0.040%	$563K	$4.0M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.1002	+0.002%	$19K	—	3x	as long as short
Paradex DOGE-USD-PERP	+0.0107%	8h	0.1004	+0.209%	$18K	$6K	30x	as long as short
Reya DOGERUSDPERP	+0.0185%	1h	0.1004	+0.184%	$2K	—	20x	as long as short
01 Exchange DOGEUSD	+0.0216%	1h	0.1005	+0.263%	$536	$4K	10x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0240%	1h	0.1003	+0.063%	$2.3M	$25.8M	50x	as long as short
Phoenix DOGE	+0.0241%	1h	0.09990	−0.306%	$65K	$284K	10x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0246% / S −0.0267%	1h	0.1003	+0.077%	$313K	—	200x	as long as short
RISEx DOGE/USDC	+0.0563%	1h	0.1005	+0.287%	$405K	$367K	10x	as long as short
Hyperliquid DOGE	+0.0691%	1h	0.1003	+0.132%	$122.6M	$98.8M	10x	as long as short
Injective DOGE/USDC PERP	+0.1004%	1h	0.1006	+0.392%	$5K	$239K	12x	as long as short