Funding you earn now, next payment 23:00 UTC+0.0346%/8h= +37.9% APRnext payment +$0.43 per $10,000 · paid last 24h +0.022%
Price spread now: Backpack against Lighter+0.014%7-day average −0.057% · you sell dearer than you buy
Net, funding: paid 7d − costs−$23as in the Funding arb table
Net, price: spread back to 7d avg − costs−$17as in the Price arb table
costs, in and out, $10k−$240.242% of the position
Funding, last 7 days+0.016%+$2 on $10k
+Price spread, last 4 days (all we have)−0.132%−$13 · spread now +0.014%, 7d avg −0.057%
=Together, before fees−0.116%+ Points / potential airdropLighter: Season 3 · farm board−$12 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Backpack is 0.071% dearer against Lighter than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.057%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.016% in total (about 0.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.43 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter DOGE | 0.1019 | 0.0096 | pay 0.0012% / 1h | 39m 49s | $796K | $5.3M | 15x |
| Short | Backpack DOGE_USDC_PERP | 0.1019 | 0.0442 | get 0.0055% / 1h | 39m 49s | $537K | $940K | 15x |
Lighter DOGE
Backpack DOGE_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Lighter. 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
- $72.72
- Price spread: +0.014% → −0.057%
- $7.05
- Slippage, 4 orders
- −$14.16
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $55.61
- Costs to cover
- 0.242%
- Break-even
- 1.6 days
Slippage from Lighter: live order book, 3 min ago; Backpack: live order book, 44 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 Lighter live order book, 3 min ago | 2.41 bp | 3.1 bp −$3 | 8.8 bp −$88 | 26.5 bp −$2,651 | doesn't fit |
| Sell Backpack live order book, 44 min ago | 0.50 bp | 5.9 bp −$6 | 12.3 bp −$123 | 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 | −0.0271% | 8h | 0.1016 | −0.242% | $155.3M | $264.0M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.1019 | −0.002% | $414K | $4.5M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S −0.0001% | 1h | 0.1018 | −0.035% | $33K | — | 150x | as long as short |
| dYdX DOGE-USD | +0.0012% | 1h | 0.1018 | −0.008% | $229K | $44K | 10x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0015% | 1h | 0.1018 | −0.025% | $617K | $105K | 25x | as long as short |
| Phoenix DOGE | +0.0081% | 1h | 0.1017 | −0.174% | $16K | $222K | 10x | as long as short |
| Gate DOGE_USDT | +0.0088% | 8h | 0.1017 | −0.153% | $244.5M | $122.2M | 75x | as long as short |
| Lighter DOGElong | +0.0096% | 1h | 0.1019 | long leg | $796K | $5.3M | 15x | |
| Katana Perps DOGE-USD | +0.0096% | 8h | 0.1018 | −0.026% | $1K | $360K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1018 | −0.011% | $714K | $778K | 10x | as long as short |
Bitget DOGEUSDT
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
dYdX DOGE-USD
Deribit DOGE_USDC-PERPETUAL
Phoenix DOGE
Gate DOGE_USDT
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 | 0.1018 | −0.075% | $5.2M | $42.5M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.1019 | +0.008% | $341K | $497K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.1017 | −0.116% | $327.4M | $1.30B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.1017 | −0.183% | $164.5M | $410.1M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1017 | −0.143% | $110.9M | $931.3M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.1019 | +0.073% | $29K | $76K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.1017 | −0.132% | $390K | $17K | 10x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1017 | −0.114% | $113.0M | $215.5M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1017 | −0.124% | $66.6M | $39.8M | 75x | as long as short |
| BingX DOGE-USDC | +0.0100% | 8h | 0.1017 | −0.104% | — | $3.4M | — | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.1017 | −0.140% | $954K | $7.8M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1010 | −0.868% | $277K | $113.5M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1006 | −1.241% | $641K | $4.5M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1006 | −1.233% | $147K | $240K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.1018 | −0.016% | $274K | $535K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.1018 | −0.035% | $74K | $432K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1018 | −0.049% | $25K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1019 | +0.055% | $36K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1018 | −0.016% | $2K | $3.5M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1018 | −0.018% | $6.1M | $49.2M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.1018 | −0.055% | $94.3M | $19.0M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0101% | 8h | 0.1019 | +0.010% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1017 | −0.123% | $564K | $3.6M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1017 | −0.143% | $19K | — | 3x | as long as short |
| Reya DOGERUSDPERP | +0.0176% | 1h | 0.1019 | +0.033% | $2K | — | 20x | as long as short |
| 01 Exchange DOGEUSD | +0.0192% | 1h | 0.1019 | +0.057% | $538 | $4K | 10x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0216% | 1h | 0.1019 | +0.004% | $2.1M | $23.6M | 50x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.1016 | −0.242% | $15.3M | $24.8M | 75x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0248% / S −0.0274% | 1h | 0.1018 | −0.043% | $321K | — | 200x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0358% | 1h | 0.1018 | −0.023% | $6.1M | $32.2M | 50x | as long as short |
| Backpack DOGE_USDC_PERPshort | +0.0442% | 1h | 0.1019 | +0.014% | $537K | $940K | 15x | |
| Hyperliquid DOGE | +0.0449% | 1h | 0.1018 | −0.065% | $112.3M | $81.8M | 10x | as long as short |
| RISEx DOGE/USDC | +0.0702% | 1h | 0.1019 | +0.073% | $320K | $477K | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.0966% | 1h | 0.1022 | +0.338% | $5K | $207K | 12x | as long as short |
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-USDC
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
01 Exchange DOGEUSD
Coinbase International DOGE-PERP-INTX
BloFin DOGE-USDT
GMX DOGE/USD [ETH-USDC]
Kraken Futures PF_DOGEUSD
Hyperliquid DOGE
RISEx DOGE/USDC
Injective DOGE/USDC PERP