Funding arb · Price arb /

DOGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against KuCoin+0.020%7-day average +0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$340.340% of the position

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.051%+$5 on $10k

Price spread, last 4 days (all we have)+0.045%+$4 · spread now +0.020%, 7d avg +0.049%

Together, before fees+0.096%+ Points / potential airdropLighter: Season 3 · farm board+$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.029% cheaper against KuCoin than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin DOGEUSDTM	0.1005	0.0100	pay 0.0100% / 8h	1h 19m	$66.1M	$41.0M	75x
Short	Lighter DOGE	0.1005	0.0096	get 0.0012% / 1h	19m 42s	$792K	$5.4M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. 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 KuCoinbpFee LighterbpOrdersPrice spread, now +0.020%Rate

Funding earned: −$0.84
Price spread: +0.020% → +0.049%: −$2.91
Slippage, 4 orders: −$21.96
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$37.71
Costs to cover: 0.340%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; Lighter: live order book, 3 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 KuCoin live order book, 4 min ago	1.99 bp	8.4 bp −$8	16.0 bp −$160	51.3 bp −$5,126	doesn't fit
Sell Lighter live order book, 3 min ago	2.23 bp	7.2 bp −$7	13.4 bp −$134	35.8 bp −$3,575	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	−0.0263%	8h	0.1003	−0.129%	$153.2M	$266.3M	75x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.1007	+0.232%	$418K	$4.7M	2.8x	as long as short
Deribit DOGE_USDC-PERPETUAL	0.0000%	1h	0.1004	−0.084%	$608K	$109K	25x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S −0.0001%	1h	0.1004	−0.020%	$32K	—	150x	as long as short
dYdX DOGE-USD	+0.0014%	1h	0.1004	−0.032%	$225K	$44K	10x	as long as short
Phoenix DOGE	+0.0081%	1h	0.1009	+0.401%	$67K	$222K	10x	as long as short
Gate DOGE_USDT	+0.0093%	8h	0.1004	−0.050%	$241.8M	$124.4M	75x	as long as short
Lighter DOGEshort	+0.0096%	1h	0.1005	+0.020%	$792K	$5.4M	15x
Katana Perps DOGE-USD	+0.0097%	8h	0.1005	+0.050%	$840	$371K	10x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.1005	+0.040%	$579K	$856K	10x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster DOGEUSDT	+0.0100%	8h	0.1005	+0.013%	$5.0M	$43.7M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.1005	−0.002%	$335K	$509K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.1005	−0.006%	$320.0M	$1.32B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.1004	−0.040%	$159.3M	$421.3M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.1004	−0.010%	$109.5M	$931.4M	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.1005	0.000%	$28K	$76K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.1006	+0.162%	$386K	$14K	10x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.1004	−0.050%	$110.7M	$217.5M	300x	as long as short
KuCoin DOGEUSDTMlong	+0.0100%	8h	0.1005	long leg	$66.1M	$41.0M	75x
BingX DOGE-USDT	+0.0100%	8h	0.1005	0.000%	—	$74.8M	—	as long as short
Variational Omni DOGE	+0.0100%	8h	0.1007	+0.251%	$1.0M	$8.1M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.1002	−0.246%	$275K	$116.1M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.1003	−0.121%	$634K	$4.6M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.1002	−0.259%	$146K	$244K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.1005	0.000%	$268K	$541K	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.1004	−0.100%	$73K	$432K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.1003	−0.110%	$25K	$1K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.1005	+0.069%	$35K	$2.2M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.1004	−0.090%	$2K	$3.6M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.1004	−0.088%	$6.0M	$50.3M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.1004	−0.100%	$93.0M	$19.2M	50x	as long as short
Paradex DOGE-USD-PERP	+0.0100%	8h	0.1004	−0.034%	$18K	$5K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.1004	−0.024%	$559K	$3.6M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.1004	−0.086%	$19K	—	3x	as long as short
Reya DOGERUSDPERP	+0.0177%	1h	0.1005	+0.001%	$2K	—	20x	as long as short
01 Exchange DOGEUSD	+0.0184%	1h	0.1006	+0.146%	$531	$4K	10x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0216%	1h	0.1006	+0.139%	$2.0M	$23.7M	50x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.1007	+0.259%	$15.4M	$25.1M	75x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0246% / S −0.0222%	1h	0.1004	−0.019%	$340K	—	200x	as long as short
Kraken Futures PF_DOGEUSD	+0.0363%	1h	0.1003	−0.120%	$5.9M	$32.8M	50x	as long as short
Backpack DOGE_USDC_PERP	+0.0413%	1h	0.1004	−0.010%	$537K	$956K	15x	as long as short
Hyperliquid DOGE	+0.0448%	1h	0.1006	+0.109%	$111.6M	$83.1M	10x	as long as short
RISEx DOGE/USDC	+0.0702%	1h	0.1006	+0.179%	$315K	$476K	10x	as long as short
Injective DOGE/USDC PERP	+0.0966%	1h	0.1010	+0.538%	$5K	$207K	12x	as long as short