Funding arb · Price arb /

DOGE

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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: Variational Omni against Lighter−1.382%7-day average −0.070% · you buy dearer than you sell

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

Long on Lighter Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.004%$0 on $10k

Price spread, last 4 days (all we have)+1.322%+$132 · spread now −1.382%, 7d avg −0.070%

Together, before fees+1.318%+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm board+$132 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: Variational Omni is 1.313% cheaper against Lighter than usual: you would sell low and buy high, −$131 on $10k if it goes back to its 7-day average of −0.070%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter DOGE	0.1018	0.0096	pay 0.0012% / 1h	42m 11s	$796K	$5.3M	15x
Short	Variational Omni DOGE	0.1003	0.0100	get 0.0100% / 8h	1h 42m	$934K	$7.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −1.382%Rate

Funding earned: $0.84
Price spread: −1.382% → −0.070%: −$131.26
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$130.42
Costs to cover: 0.000%
Break-even: 1093.9 days

Slippage unknown: Lighter: live order book, 6 min ago; Variational Omni: RFQ quote, 2 min ago. 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, 6 min ago	1.64 bp	3.4 bp −$3	7.6 bp −$76	24.2 bp −$2,424	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	4.96 bp	doesn't fit	14.9 bp −$149	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	−0.0272%	8h	0.1016	−0.130%	$155.5M	$263.5M	75x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.1015	−0.209%	$409K	$4.5M	2.8x	as long as short
Deribit DOGE_USDC-PERPETUAL	0.0000%	1h	0.1017	−0.005%	$616K	$105K	25x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S −0.0001%	1h	0.1017	−0.078%	$32K	—	150x	as long as short
dYdX DOGE-USD	+0.0013%	1h	0.1012	−0.493%	$227K	$44K	10x	as long as short
Phoenix DOGE	+0.0081%	1h	0.1008	−0.893%	$16K	$222K	10x	as long as short
Gate DOGE_USDT	+0.0088%	8h	0.1017	−0.071%	$244.7M	$121.9M	75x	as long as short
Lighter DOGElong	+0.0096%	1h	0.1018	long leg	$796K	$5.3M	15x
Katana Perps DOGE-USD	+0.0096%	8h	0.1016	−0.140%	$849	$359K	10x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.1016	−0.149%	$714K	$777K	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	0.1017	−0.046%	$5.2M	$42.1M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.1013	−0.409%	$339K	$497K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.1017	−0.031%	$323.8M	$1.30B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.1017	−0.051%	$164.6M	$409.4M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.1017	−0.012%	$110.9M	$929.9M	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.1017	−0.031%	$29K	$76K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.1003	−1.427%	$384K	$14K	10x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.1017	−0.041%	$111.5M	$215.0M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.1017	−0.061%	$66.5M	$39.6M	75x	as long as short
BingX DOGE-USDC	+0.0100%	8h	0.1017	−0.061%	—	$3.4M	—	as long as short
Variational Omni DOGEshort	+0.0100%	8h	0.1003	−1.382%	$934K	$7.8M	—
edgeX DOGEUSDC	+0.0100%	4h	0.1006	−1.176%	$276K	$113.4M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.1006	−1.140%	$641K	$4.5M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.1006	−1.132%	$147K	$240K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.1017	−0.071%	$274K	$536K	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.1017	−0.022%	$73K	$420K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.1017	−0.022%	$25K	$1K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.1018	+0.010%	$36K	$2.2M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.1017	−0.022%	$2K	$3.5M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.1017	−0.066%	$6.1M	$49.1M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.1017	−0.061%	$94.2M	$19.0M	50x	as long as short
Paradex DOGE-USD-PERP	+0.0101%	8h	0.1013	−0.396%	$18K	$5K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.1017	−0.020%	$564K	$3.6M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.1017	−0.022%	$19K	—	3x	as long as short
Reya DOGERUSDPERP	+0.0176%	1h	0.1017	−0.040%	$2K	—	20x	as long as short
01 Exchange DOGEUSD	+0.0184%	1h	0.1017	−0.090%	$537	$4K	10x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0216%	1h	0.1018	+0.028%	$2.1M	$23.5M	50x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.1012	−0.542%	$15.4M	$24.6M	75x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0247% / S −0.0271%	1h	0.1017	−0.096%	$319K	—	200x	as long as short
Kraken Futures PF_DOGEUSD	+0.0358%	1h	0.1017	−0.061%	$6.1M	$32.2M	50x	as long as short
Backpack DOGE_USDC_PERP	+0.0433%	1h	0.1019	+0.106%	$537K	$940K	15x	as long as short
Hyperliquid DOGE	+0.0454%	1h	0.1019	+0.175%	$112.4M	$81.7M	10x	as long as short
RISEx DOGE/USDC	+0.0702%	1h	0.1017	−0.056%	$319K	$476K	10x	as long as short
Injective DOGE/USDC PERP	+0.0966%	1h	0.1013	−0.444%	$5K	$207K	12x	as long as short