Funding arb · Price arb /

DOGE

all DOGE markets

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: KuCoin against Lighter−0.055%7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

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

Long on Lighter Short on KuCoin

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)−0.010%−$1 · spread now −0.055%, 7d avg −0.049%

Together, before fees−0.061%+ Points / potential airdropLighter: Season 3 · farm board−$6 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter DOGE	0.1005	0.0096	pay 0.0012% / 1h	19m 14s	$792K	$5.4M	15x
Short	KuCoin DOGEUSDTM	0.1004	0.0100	get 0.0100% / 8h	1h 19m	$66.0M	$41.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.055%Rate

Funding earned: $0.84
Price spread: −0.055% → −0.049%: −$0.58
Slippage, 4 orders: −$21.96
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$33.7
Costs to cover: 0.340%
Break-even: 287.8 days

Slippage from Lighter: live order book, 4 min ago; KuCoin: 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 Lighter live order book, 4 min ago	2.23 bp	7.6 bp −$8	11.6 bp −$116	26.8 bp −$2,680	doesn't fit
Sell KuCoin live order book, 5 min ago	1.99 bp	10.8 bp −$11	14.6 bp −$146	38.4 bp −$3,844	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	−0.164%	$153.2M	$266.4M	75x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.1004	−0.039%	$419K	$4.7M	2.8x	as long as short
Deribit DOGE_USDC-PERPETUAL	0.0000%	1h	0.1004	−0.040%	$608K	$109K	25x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S −0.0001%	1h	0.1005	−0.015%	$32K	—	150x	as long as short
dYdX DOGE-USD	+0.0014%	1h	0.1004	−0.047%	$225K	$44K	10x	as long as short
Phoenix DOGE	+0.0081%	1h	0.1009	+0.386%	$67K	$222K	10x	as long as short
Gate DOGE_USDT	+0.0092%	8h	0.1004	−0.105%	$241.8M	$124.4M	75x	as long as short
Lighter DOGElong	+0.0096%	1h	0.1005	long leg	$792K	$5.4M	15x
Katana Perps DOGE-USD	+0.0097%	8h	0.1004	−0.065%	$839	$371K	10x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.1004	−0.080%	$578K	$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	−0.009%	$5.0M	$43.7M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.1005	−0.017%	$335K	$509K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.1004	−0.038%	$319.9M	$1.32B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.1004	−0.085%	$159.2M	$421.0M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.1004	−0.055%	$109.5M	$931.2M	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.1005	−0.015%	$28K	$76K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.1006	+0.147%	$386K	$14K	10x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.1004	−0.045%	$110.7M	$217.5M	300x	as long as short
KuCoin DOGEUSDTMshort	+0.0100%	8h	0.1004	−0.055%	$66.0M	$41.0M	75x
BingX DOGE-USDC	+0.0100%	8h	0.1004	−0.065%	—	$3.4M	—	as long as short
Variational Omni DOGE	+0.0100%	8h	0.1007	+0.236%	$1.0M	$8.1M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.1008	+0.296%	$276K	$116.4M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.1008	+0.283%	$634K	$4.6M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.1009	+0.423%	$148K	$245K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.1004	−0.035%	$268K	$541K	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.1004	−0.065%	$73K	$432K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.1004	−0.074%	$25K	$1K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.1005	+0.024%	$36K	$2.2M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.1004	−0.055%	$2K	$3.6M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.1004	−0.058%	$6.0M	$50.4M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.1004	−0.035%	$93.0M	$19.2M	50x	as long as short
Paradex DOGE-USD-PERP	+0.0100%	8h	0.1004	−0.049%	$18K	$5K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.1004	−0.094%	$559K	$3.6M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.1004	−0.036%	$19K	—	3x	as long as short
Reya DOGERUSDPERP	+0.0177%	1h	0.1005	+0.016%	$2K	—	20x	as long as short
01 Exchange DOGEUSD	+0.0184%	1h	0.1004	−0.030%	$530	$4K	10x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0216%	1h	0.1005	+0.055%	$2.0M	$23.6M	50x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.1005	−0.005%	$15.3M	$24.9M	75x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0246% / S −0.0222%	1h	0.1005	+0.006%	$340K	—	200x	as long as short
Kraken Futures PF_DOGEUSD	+0.0363%	1h	0.1004	−0.056%	$5.9M	$32.8M	50x	as long as short
Backpack DOGE_USDC_PERP	+0.0409%	1h	0.1005	−0.015%	$537K	$956K	15x	as long as short
Hyperliquid DOGE	+0.0450%	1h	0.1005	+0.065%	$111.7M	$83.1M	10x	as long as short
RISEx DOGE/USDC	+0.0702%	1h	0.1005	−0.010%	$315K	$476K	10x	as long as short
Injective DOGE/USDC PERP	+0.0966%	1h	0.1006	+0.124%	$5K	$223K	12x	as long as short