Funding arb · Price arb /

DOGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: HTX against Lighter−0.148%7-day average −0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$280.284% of the position

Long on Lighter Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.017%+$2 on $10k

Price spread, last 3 days (all we have)+0.098%+$10 · spread now −0.148%, 7d avg −0.011%

Together, before fees+0.115%+ Points / potential airdropLighter: Season 3 · farm board+$11 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: HTX is 0.137% cheaper against Lighter than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of −0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter DOGE	0.1000	0.0096	pay 0.0012% / 1h	1m 53s	$823K	$6.1M	15x
Short	HTX DOGE-USDT	0.09986	0.0100	get 0.0100% / 8h	6h 01m	$5.9M	$55.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Lighter. 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 LighterbpFee HTXbpOrdersPrice spread, now −0.148%Rate

Funding earned: $0.84
Price spread: −0.148% → −0.011%: −$13.69
Slippage, 4 orders: −$16.45
Fee Lighter: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$41.29
Costs to cover: 0.284%
Break-even: 351.1 days

Slippage from Lighter: live order book, 6 min ago; HTX: live order book, 2 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, 6 min ago	1.35 bp	3.1 bp −$3	6.7 bp −$67	23.3 bp −$2,332	doesn't fit
Sell HTX live order book, 2 min ago	0.60 bp	7.4 bp −$7	11.8 bp −$118	37.8 bp −$3,780	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	−0.0094%	8h	0.09981	−0.198%	$151.2M	$273.0M	75x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.09983	−0.175%	$394K	$5.0M	2.8x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.09989	−0.121%	$23K	—	150x	as long as short
dYdX DOGE-USD	+0.0010%	1h	0.09978	−0.231%	$224K	$49K	10x	as long as short
Kraken Futures PF_DOGEUSD	+0.0066%	1h	0.09990	−0.104%	$5.8M	$34.7M	50x	as long as short
Lighter DOGElong	+0.0096%	1h	0.1000	long leg	$823K	$6.1M	15x
Katana Perps DOGE-USD	+0.0099%	8h	0.09983	−0.178%	$834	$429K	10x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.09982	−0.183%	$532K	$988K	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.09988	−0.129%	$4.6M	$48.2M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.09979	−0.221%	$328K	$503K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance DOGEUSDT	+0.0100%	8h	0.09991	−0.098%	$318.2M	$1.43B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.09990	−0.108%	$159.3M	$437.5M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.09993	−0.078%	$110.9M	$983.3M	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.09997	−0.038%	$128K	$178K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.1002	+0.150%	$384K	$5K	10x	as long as short
Gate DOGE_USDT	+0.0100%	8h	0.09987	−0.138%	$242.4M	$133.6M	75x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.09990	−0.108%	$113.6M	$232.2M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.09991	−0.098%	$66.1M	$43.1M	75x	as long as short
BingX DOGE-USDT	+0.0100%	8h	0.09989	−0.118%	—	$76.4M	—	as long as short
Backpack DOGE_USDC_PERP	+0.0100%	1h	0.09989	−0.118%	$335K	$1.1M	15x	as long as short
Variational Omni DOGE	+0.0100%	8h	0.1002	+0.149%	$999K	$8.2M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.09999	−0.017%	$294K	$129.2M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.1003	+0.309%	$636K	$4.5M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.1000	−0.008%	$146K	$272K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.09980	−0.204%	$256K	$681K	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.09989	−0.118%	$70K	$440K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.09988	−0.123%	$25K	$1K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.09990	−0.104%	$35K	$2.2M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.09990	−0.108%	$2K	$3.8M	10x	as long as short
HTX DOGE-USDTshort	+0.0100%	8h	0.09986	−0.148%	$5.9M	$55.4M	75x
Phemex DOGEUSDT	+0.0100%	8h	0.09992	−0.088%	$92.0M	$16.9M	50x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.09989	−0.117%	$560K	$4.0M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.09989	−0.119%	$19K	—	3x	as long as short
Paradex DOGE-USD-PERP	+0.0106%	8h	0.09981	−0.202%	$18K	$6K	30x	as long as short
Deribit DOGE_USDC-PERPETUAL	+0.0151%	1h	0.09990	−0.107%	$597K	$118K	25x	as long as short
Reya DOGERUSDPERP	+0.0185%	1h	0.09986	−0.150%	$2K	—	20x	as long as short
01 Exchange DOGEUSD	+0.0216%	1h	0.09990	−0.107%	$532	$4K	10x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0240%	1h	0.09994	−0.068%	$2.3M	$25.8M	50x	as long as short
Phoenix DOGE	+0.0241%	1h	0.1004	+0.351%	$65K	$284K	10x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0245% / S −0.0267%	1h	0.09988	−0.127%	$311K	—	200x	as long as short
RISEx DOGE/USDC	+0.0563%	1h	0.09990	−0.108%	$402K	$367K	10x	as long as short
Hyperliquid DOGE	+0.0679%	1h	0.10000	−0.010%	$121.5M	$99.3M	10x	as long as short
Injective DOGE/USDC PERP	+0.1004%	1h	0.1006	+0.592%	$5K	$239K	12x	as long as short