Funding you earn now, next payment 04:00 UTC+0.0139%/8h= +15.2% APRnext payment +$0.17 per $10,000 · paid last 24h −0.001%
Price spread now: Phoenix against Lighter+0.952%7-day average +0.001% · you sell dearer than you buy
Net, funding: paid 7d − costs−$55as in the Funding arb table
Net, price: spread back to 7d avg − costs+$60as in the Price arb table
costs, in and out, $10k−$350.350% of the position
Funding, last 7 days−0.202%−$20 on $10k
+Price spread, last 4 days (all we have)−0.821%−$82 · spread now +0.952%, 7d avg +0.001%
=Together, before fees−1.023%+ Points / potential airdropLighter: Season 3 · farm board−$102 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Phoenix is 0.951% dearer against Lighter than usual: you sell high and buy low: +$95 more if the spread goes back to its 7-day average of +0.001%. Mind the row above: over the last 7 days funding on this pair cost −0.202%, so the current rate has only just turned in your favour.
| 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 | 8m 25s | $743K | $6.5M | 15x |
| Short | Phoenix DOGE | 0.1015 | 0.0235 | get 0.0029% / 1h | 8m 25s | $18K | $292K | 10x |
Lighter DOGE
Phoenix DOGEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- $29.16
- Price spread: +0.952% → +0.001%
- $95.06
- Slippage, 4 orders
- −$28.02
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $89.2
- Costs to cover
- 0.350%
- Break-even
- from the start
Slippage from Lighter: live order book, 5 min ago; Phoenix: live order book, 39 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 | 1.92 bp | 4.6 bp −$5 | 13.2 bp −$132 | 27.8 bp −$2,776 | doesn't fit |
| Sell Phoenix live order book, 39 min ago | 0.95 bp | 12.3 bp −$12 | 43.0 bp −$430 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.1008 | +0.227% | $659K | $6.3M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.1006 | +0.038% | $24K | — | 150x | as long as short |
| dYdX DOGE-USD | +0.0018% | 1h | 0.1004 | −0.121% | $225K | $70K | 10x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0018% | 1h | 0.1006 | +0.073% | $571K | $247K | 25x | as long as short |
| Bitget DOGEUSDT | +0.0089% | 8h | 0.1005 | −0.025% | $130.2M | $318.8M | 75x | as long as short |
| Lighter DOGElong | +0.0096% | 1h | 0.1005 | long leg | $743K | $6.5M | 15x | |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1005 | −0.065% | $551K | $1.1M | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.1004 | −0.095% | $4.8M | $55.1M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.1004 | −0.095% | $321K | $520K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.1004 | −0.104% | $328.5M | $1.63B | 75x | as long as short |
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
dYdX DOGE-USD
Deribit DOGE_USDC-PERPETUAL
Bitget DOGEUSDT
Nado DOGE-PERP
Aster DOGEUSDT
Pacifica DOGE
Binance DOGEUSDTShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit DOGEUSDT | +0.0100% | 8h | 0.1004 | −0.114% | $162.4M | $504.2M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1005 | −0.045% | $114.2M | $1.15B | 50x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.1016 | +1.088% | $390K | $16K | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.1004 | −0.144% | $246.5M | $147.6M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1004 | −0.124% | $112.3M | $248.1M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1005 | −0.065% | $66.1M | $48.5M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.1004 | −0.124% | — | $79.5M | — | as long as short |
| Backpack DOGE_USDC_PERP | +0.0100% | 1h | 0.1006 | +0.045% | $325K | $1.2M | 15x | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.1013 | +0.777% | $1.1M | $8.6M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1017 | +1.129% | $324K | $136.3M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1016 | +1.099% | $644K | $4.7M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1017 | +1.169% | $153K | $330K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.1005 | −0.065% | $261K | $1.1M | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.1006 | +0.055% | $65K | $458K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1006 | +0.031% | $19K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1006 | +0.055% | $36K | $2.3M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1006 | +0.045% | $2K | $5.1M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1006 | +0.037% | $6.0M | $65.9M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.1006 | +0.095% | $92.6M | $17.1M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.1004 | −0.156% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1004 | −0.155% | $483K | $4.1M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1006 | +0.075% | $19K | — | 3x | as long as short |
| Katana Perps DOGE-USD | +0.0119% | 8h | 0.1004 | −0.144% | $2K | $503K | 10x | as long as short |
| Reya DOGERUSDPERP | +0.0193% | 1h | 0.1005 | −0.014% | $2K | — | 20x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.1006 | +0.104% | $16.3M | $26.8M | 75x | as long as short |
| 01 Exchange DOGEUSD | +0.0232% | 1h | 0.1004 | −0.078% | $447 | $4K | 10x | as long as short |
| Phoenix DOGEshort | +0.0235% | 1h | 0.1015 | +0.952% | $18K | $292K | 10x | |
| Kraken Futures PF_DOGEUSD | +0.0250% | 1h | 0.1005 | +0.013% | $5.5M | $39.6M | 50x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0254% / S −0.0292% | 1h | 0.1005 | +0.011% | $329K | — | 200x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0304% | 1h | 0.1006 | +0.095% | $2.1M | $33.1M | 50x | as long as short |
| Hyperliquid DOGE | +0.0400% | 1h | 0.1006 | +0.075% | $125.0M | $112.2M | 10x | as long as short |
| Arcus DOGE-USD | +0.0634% | 1h | 0.1005 | +0.005% | $109K | $207K | 10x | as long as short |
| RISEx DOGE/USDC | +0.0728% | 1h | 0.1005 | −0.060% | $405K | $433K | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1062% | 1h | 0.1053 | +4.750% | $6K | $242K | 12x | as long as short |
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Bulk DOGE-USD
Gate DOGE_USDT
MEXC DOGE_USDT
KuCoin DOGEUSDTM
BingX DOGE-USDT
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
Phemex DOGEUSDT
Paradex DOGE-USD-PERP
Extended DOGE-USD
Aevo DOGE-PERP
Katana Perps DOGE-USD
Reya DOGERUSDPERP
BloFin DOGE-USDT
01 Exchange DOGEUSD
Kraken Futures PF_DOGEUSD
GMX DOGE/USD [ETH-USDC]
Coinbase International DOGE-PERP-INTX
Hyperliquid DOGE
Arcus DOGE-USD
RISEx DOGE/USDC
Injective DOGE/USDC PERP