Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%
Price spread now: Phemex against Lighter−0.093%7-day average −0.026% · you buy dearer than you sell
Net, funding: paid 7d − costs−$53as in the Funding arb table
Net, price: spread back to 7d avg − costs−$57as in the Price arb table
costs, in and out, $10k−$500.504% of the position
Funding, last 7 days−0.021%−$2 on $10k
+Price spread, last 3 days (all we have)+0.049%+$5 · spread now −0.093%, 7d avg −0.026%
=Together, before fees+0.027%+ Points / potential airdropLighter: Season 3 · farm board+$3 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: Phemex is 0.067% cheaper against Lighter than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.026%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter DOGE | 0.1011 | 0.0096 | pay 0.0012% / 1h | 9m 17s | $798K | $5.9M | 15x |
| Short | Phemex DOGEUSDT | 0.1010 | 0.0100 | get 0.0100% / 8h | 7h 09m | $93.2M | $18.0M | 50x |
Lighter DOGE
Phemex DOGEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- $0.84
- Price spread: −0.093% → −0.026%
- −$6.66
- Slippage, 4 orders
- −$38.4
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$56.22
- Costs to cover
- 0.504%
- Break-even
- 475.5 days
Slippage from Lighter: live order book, 4 min ago; Phemex: 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 | 2.42 bp | 2.9 bp −$3 | 5.7 bp −$57 | 24.3 bp −$2,434 | doesn't fit |
| Sell Phemex live order book, 5 min ago | 6.41 bp | 18.9 bp −$19 | 52.7 bp −$527 | 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 | −0.0166% | 8h | 0.1010 | −0.093% | $153.3M | $271.5M | 75x | as long as short |
| Kraken Futures PF_DOGEUSD | −0.0077% | 1h | 0.1010 | −0.091% | $6.1M | $33.9M | 50x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.1011 | +0.064% | $416K | $4.9M | 2.8x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | 0.0000% | 1h | 0.1011 | −0.015% | $608K | $119K | 25x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.1011 | −0.017% | $24K | — | 150x | as long as short |
| dYdX DOGE-USD | +0.0011% | 1h | 0.1011 | −0.005% | $227K | $44K | 10x | as long as short |
| Lighter DOGElong | +0.0096% | 1h | 0.1011 | long leg | $798K | $5.9M | 15x | |
| Katana Perps DOGE-USD | +0.0100% | 8h | 0.1011 | +0.055% | $2K | $421K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1012 | +0.085% | $519K | $972K | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.1011 | +0.005% | $5.1M | $46.7M | 75x | as long as short |
Bitget DOGEUSDT
Kraken Futures PF_DOGEUSD
Kalshi KXDOGEPERP
Deribit DOGE_USDC-PERPETUAL
gTrade (Gains Network) DOGE/USD
dYdX DOGE-USD
Katana Perps DOGE-USD
Nado DOGE-PERP
Aster DOGEUSDTShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica DOGE | +0.0100% | 1h | 0.1011 | +0.051% | $337K | $512K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.1010 | −0.068% | $321.3M | $1.40B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.1010 | −0.044% | $161.0M | $439.1M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1010 | −0.053% | $111.7M | $974.6M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.1012 | +0.125% | $28K | $74K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.1003 | −0.747% | $384K | $5K | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.1011 | −0.024% | $245.8M | $131.3M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1011 | +0.036% | $113.7M | $226.2M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1012 | +0.075% | $66.3M | $42.4M | 75x | as long as short |
| BingX DOGE-USDC | +0.0100% | 8h | 0.1011 | +0.046% | — | $3.4M | — | as long as short |
| Backpack DOGE_USDC_PERP | +0.0100% | 1h | 0.1010 | −0.053% | $366K | $1.1M | 15x | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.1009 | −0.184% | $996K | $8.1M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1009 | −0.129% | $270K | $124.7M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1012 | +0.095% | $644K | $4.5M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1010 | −0.073% | $148K | $268K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.1011 | +0.016% | $268K | $634K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.1011 | −0.024% | $74K | $426K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1010 | −0.039% | $25K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1011 | +0.012% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1010 | −0.053% | $2K | $3.8M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1010 | −0.057% | $6.0M | $52.9M | 75x | as long as short |
| Phemex DOGEUSDTshort | +0.0100% | 8h | 0.1010 | −0.093% | $93.2M | $18.0M | 50x | |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.1011 | +0.073% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1010 | −0.047% | $534K | $3.9M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1010 | −0.032% | $19K | — | 3x | as long as short |
| 01 Exchange DOGEUSD | +0.0176% | 1h | 0.1011 | +0.059% | $534 | $4K | 10x | as long as short |
| Reya DOGERUSDPERP | +0.0182% | 1h | 0.1011 | +0.014% | $2K | — | 20x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.1011 | −0.024% | $15.5M | $25.8M | 75x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0240% | 1h | 0.1011 | +0.006% | $2.1M | $25.3M | 50x | as long as short |
| Phoenix DOGE | +0.0240% | 1h | 0.1013 | +0.198% | $66K | $283K | 10x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0247% / S −0.0271% | 1h | 0.1011 | −0.013% | $318K | — | 200x | as long as short |
| RISEx DOGE/USDC | +0.0701% | 1h | 0.1012 | +0.125% | $327K | $404K | 10x | as long as short |
| Hyperliquid DOGE | +0.0773% | 1h | 0.1012 | +0.164% | $123.5M | $95.5M | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.0973% | 1h | 0.1013 | +0.224% | $5K | $239K | 12x | as long as short |
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Arcus DOGE-USD
Bulk DOGE-USD
Gate DOGE_USDT
MEXC DOGE_USDT
KuCoin DOGEUSDTM
BingX DOGE-USDC
Backpack DOGE_USDC_PERP
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
Paradex DOGE-USD-PERP
Extended DOGE-USD
Aevo DOGE-PERP
01 Exchange DOGEUSD
Reya DOGERUSDPERP
BloFin DOGE-USDT
Coinbase International DOGE-PERP-INTX
Phoenix DOGE
GMX DOGE/USD [ETH-USDC]
RISEx DOGE/USDC
Hyperliquid DOGE
Injective DOGE/USDC PERP