Funding arb · Price arb /

DOGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h 0.000%

Price spread now: Orderly against Lighter−0.047%7-day average −0.057% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.075%−$7 on $10k

Price spread, last 4 days (all we have)−0.001%$0 · spread now −0.047%, 7d avg −0.057%

Together, before fees−0.076%+ Points / potential airdropLighter: Season 3 · farm board−$8 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter DOGE	0.09974	0.0096	pay 0.0012% / 1h	41m 14s	$838K	$6.8M	15x
Short	Orderly PERP_DOGE_USDC	0.09969	0.0100	get 0.0100% / 8h	41m 14s	$71K	$472K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.047%Rate

Funding earned: $0.84
Price spread: −0.047% → −0.057%: $1.02
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$4.14
Costs to cover: 0.060%
Break-even: 41.5 days

Slippage unknown: Lighter: live order book, 7 min ago; Orderly: no order-book sample. Net counts fees only.

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, 7 min ago	3.95 bp	8.6 bp −$9	10.8 bp −$108	26.0 bp −$2,599	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0060%	1h	0.09966	−0.082%	$5.6M	$40.7M	50x	as long as short
dYdX DOGE-USD	0.0000%	1h	0.09972	−0.021%	$224K	$69K	10x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.09968	−0.053%	$594K	$6.5M	2.8x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.09964	−0.102%	$35K	—	150x	as long as short
Bitget DOGEUSDT	+0.0022%	8h	0.09958	−0.157%	$140.8M	$345.8M	75x	as long as short
Injective DOGE/USDC PERP	+0.0033%	1h	0.1053	+5.578%	$6K	$242K	12x	as long as short
Polymarket Perps DOGE-USD	+0.0053%	1h	0.09964	−0.098%	$259K	$1.2M	10x	as long as short
Deribit DOGE_USDC-PERPETUAL	+0.0061%	1h	0.09969	−0.043%	$572K	$252K	25x	as long as short
Lighter DOGElong	+0.0096%	1h	0.09974	long leg	$838K	$6.8M	15x
Nado DOGE-PERP	+0.0100%	1h	0.09967	−0.072%	$537K	$1.1M	10x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid DOGE	+0.0100%	1h	0.09977	+0.037%	$124.2M	$117.2M	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.09964	−0.093%	$4.5M	$59.0M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.09970	−0.035%	$319K	$503K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.09966	−0.078%	$329.0M	$1.72B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.09961	−0.127%	$165.1M	$524.2M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.09965	−0.087%	$116.3M	$1.21B	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.09968	−0.057%	$17K	$308K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.09921	−0.527%	$381K	$16K	10x	as long as short
Gate DOGE_USDT	+0.0100%	8h	0.09965	−0.087%	$249.9M	$156.2M	75x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.09965	−0.087%	$117.5M	$258.1M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.09964	−0.097%	$66.4M	$49.9M	75x	as long as short
BingX DOGE-USDT	+0.0100%	8h	0.09969	−0.047%	—	$53.2M	—	as long as short
Backpack DOGE_USDC_PERP	+0.0100%	1h	0.09976	+0.023%	$302K	$1.3M	15x	as long as short
Variational Omni DOGE	+0.0100%	8h	0.09984	+0.099%	$1.1M	$8.7M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.09966	−0.073%	$303K	$139.7M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.09982	+0.079%	$629K	$4.6M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.09980	+0.063%	$146K	$342K	25x	as long as short
Orderly PERP_DOGE_USDCshort	+0.0100%	8h	0.09969	−0.047%	$71K	$472K	50x
Derive DOGE-PERP	+0.0100%	1h	0.09972	−0.015%	$19K	$7K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.09974	+0.004%	$35K	$2.3M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.09966	−0.077%	$2K	$5.4M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.09970	−0.033%	$5.9M	$68.9M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.09966	−0.077%	$91.3M	$16.8M	50x	as long as short
Paradex DOGE-USD-PERP	+0.0100%	8h	0.09967	−0.069%	$18K	$5K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.09961	−0.129%	$488K	$4.1M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.09968	−0.060%	$19K	—	3x	as long as short
Katana Perps DOGE-USD	+0.0107%	8h	0.09965	−0.087%	$833	$539K	10x	as long as short
Phoenix DOGE	+0.0160%	1h	0.09978	+0.043%	$18K	$382K	10x	as long as short
Reya DOGERUSDPERP	+0.0199%	1h	0.09959	−0.146%	$2K	—	20x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0216%	1h	0.09971	−0.027%	$1.9M	$34.8M	50x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.09964	−0.097%	$15.5M	$27.0M	75x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0250% / S −0.0297%	1h	0.09964	−0.101%	$314K	—	200x	as long as short
01 Exchange DOGEUSD	+0.0272%	1h	0.09975	+0.015%	$444	$4K	10x	as long as short
RISEx DOGE/USDC	+0.0731%	1h	0.09975	+0.013%	$406K	$462K	10x	as long as short