Funding arb · Price arb /

DOGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: OKX against Lighter−0.212%7-day average −0.019% · 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−$43as in the Price arb table

costs, in and out, $10k−$240.238% of the position

Long on Lighter Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.033%−$3 on $10k

Price spread, last 7 days+0.285%+$28 · spread now −0.212%, 7d avg −0.019%

Together, before fees+0.251%+ Points / potential airdropLighter: Season 3 · farm board+$25 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: OKX is 0.192% cheaper against Lighter than usual: you would sell low and buy high, −$19 on $10k if it goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter DOGE	0.09918	0.0096	pay 0.0012% / 1h	53m 01s	$828K	$6.8M	15x
Short	OKX DOGE-USDT-SWAP	0.09897	0.0100	get 0.0100% / 8h	7h 53m	$115.3M	$1.20B	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.212%Rate

Funding earned: $0.84
Price spread: −0.212% → −0.019%: −$19.25
Slippage, 4 orders: −$13.85
Fee Lighter: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$42.25
Costs to cover: 0.238%
Break-even: 359.1 days

Slippage from Lighter: live order book, 5 min ago; OKX: live order book, 1 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, 5 min ago	3.89 bp	5.7 bp −$6	8.6 bp −$86	23.6 bp −$2,364	doesn't fit
Sell OKX live order book, 1 min ago	0.50 bp	5.5 bp −$6	7.1 bp −$71	18.8 bp −$1,878	44.2 bp −$22.1K

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
Kraken Futures PF_DOGEUSD	−0.0096%	1h	0.09910	−0.083%	$5.5M	$40.8M	50x	as long as short
Bitget DOGEUSDT	−0.0008%	8h	0.09900	−0.181%	$140.6M	$347.7M	75x	as long as short
dYdX DOGE-USD	0.0000%	1h	0.09896	−0.227%	$222K	$64K	10x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.09902	−0.164%	$577K	$6.6M	2.8x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.09887	−0.309%	$35K	—	150x	as long as short
Injective DOGE/USDC PERP	+0.0033%	1h	0.1053	+6.171%	$6K	$242K	12x	as long as short
Phoenix DOGE	+0.0081%	1h	0.09885	−0.329%	$18K	$386K	10x	as long as short
Lighter DOGElong	+0.0096%	1h	0.09918	long leg	$828K	$6.8M	15x
Katana Perps DOGE-USD	+0.0100%	8h	0.09902	−0.161%	$1K	$545K	10x	as long as short
Hyperliquid DOGE	+0.0100%	1h	0.09913	−0.047%	$123.6M	$117.0M	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	0.09904	−0.146%	$4.9M	$59.4M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.09895	−0.232%	$321K	$506K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.09903	−0.147%	$327.5M	$1.72B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.09894	−0.242%	$163.7M	$523.5M	75x	as long as short
OKX DOGE-USDT-SWAPshort	+0.0100%	8h	0.09897	−0.212%	$115.3M	$1.20B	50x
Arcus DOGE-USD	+0.0100%	1h	0.09905	−0.131%	$16K	$306K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.09885	−0.333%	$377K	$16K	10x	as long as short
Gate DOGE_USDT	+0.0100%	8h	0.09905	−0.131%	$250.6M	$152.6M	75x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.09907	−0.111%	$117.5M	$257.9M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.09907	−0.111%	$66.5M	$50.0M	75x	as long as short
BingX DOGE-USDC	+0.0100%	8h	0.09903	−0.151%	—	$3.5M	—	as long as short
Backpack DOGE_USDC_PERP	+0.0100%	1h	0.09908	−0.101%	$302K	$1.3M	15x	as long as short
Variational Omni DOGE	+0.0100%	8h	0.09879	−0.395%	$1.0M	$8.6M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.09865	−0.531%	$300K	$139.3M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.09867	−0.518%	$625K	$4.4M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.09860	−0.585%	$141K	$346K	25x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.09896	−0.222%	$536K	$1.1M	10x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.09907	−0.116%	$258K	$1.2M	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.09909	−0.091%	$71K	$469K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.09903	−0.149%	$18K	$7K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.09910	−0.081%	$35K	$2.3M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.09910	−0.081%	$2K	$5.5M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.09910	−0.078%	$5.9M	$69.1M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.09910	−0.081%	$90.6M	$16.7M	50x	as long as short
Paradex DOGE-USD-PERP	+0.0100%	8h	0.09896	−0.220%	$18K	$5K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.09893	−0.252%	$481K	$4.1M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.09909	−0.091%	$19K	—	3x	as long as short
Deribit DOGE_USDC-PERPETUAL	+0.0174%	1h	0.09914	−0.043%	$556K	$283K	25x	as long as short
Reya DOGERUSDPERP	+0.0201%	1h	0.09904	−0.143%	$2K	—	20x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0208%	1h	0.09910	−0.081%	$1.9M	$35.0M	50x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.09903	−0.151%	$15.6M	$26.8M	75x	as long as short
01 Exchange DOGEUSD	+0.0232%	1h	0.09910	−0.084%	$441	$4K	10x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0286% / S −0.0375%	1h	0.09905	−0.133%	$413K	—	200x	as long as short
RISEx DOGE/USDC	+0.0717%	1h	0.09909	−0.091%	$398K	$455K	10x	as long as short