Funding arb · Price arb /

DOGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.027%

Price spread now: Backpack against MEXC+0.030%7-day average −0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$8as in the Funding arb table

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$140.142% of the position

Long on MEXC Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.063%+$6 on $10k

Price spread, last 4 days (all we have)−0.104%−$10 · spread now +0.030%, 7d avg −0.007%

Together, before fees−0.041%−$4 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: Backpack is 0.037% dearer against MEXC than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC DOGE_USDT	0.09943	0.0100	pay 0.0100% / 8h	6h 30m	$110.4M	$229.3M	300x
Short	Backpack DOGE_USDC_PERP	0.09946	0.0100	get 0.0013% / 1h	30m 15s	$344K	$1.1M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against MEXC. 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 MEXCbpFee BackpackbpOrdersPrice spread, now +0.030%Rate

Funding earned: $0
Price spread: +0.030% → −0.007%: $3.73
Slippage, 4 orders: −$4.15
Fee MEXC: 0 bp × 2 orders: $0
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$10.42
Costs to cover: 0.142%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; Backpack: live order book, 4 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 MEXC live order book, 4 min ago	0.50 bp	0.5 bp −$1	1.0 bp −$10	6.6 bp −$656	37.5 bp −$18.8K
Sell Backpack live order book, 4 min ago	0.51 bp	7.4 bp −$7	doesn't fit	doesn't fit	doesn't fit

DOGE on 43 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	−0.0119%	8h	0.09940	−0.030%	$150.7M	$273.2M	75x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.09920	−0.234%	$389K	$5.0M	2.8x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.09925	−0.186%	$23K	—	150x	as long as short
dYdX DOGE-USD	+0.0019%	1h	0.09914	−0.288%	$223K	$51K	10x	as long as short
Kraken Futures PF_DOGEUSD	+0.0067%	1h	0.09940	−0.034%	$5.8M	$34.1M	50x	as long as short
Lighter DOGE	+0.0096%	1h	0.09947	+0.037%	$772K	$6.0M	15x	as long as short
Katana Perps DOGE-USD	+0.0099%	8h	0.09917	−0.261%	$828	$427K	10x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.09928	−0.156%	$510K	$981K	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.09927	−0.164%	$4.6M	$48.3M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.09916	−0.275%	$327K	$504K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance DOGEUSDT	+0.0100%	8h	0.09942	−0.006%	$314.8M	$1.43B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.09943	0.000%	$157.4M	$442.3M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.09944	+0.010%	$109.3M	$978.6M	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.09937	−0.060%	$128K	$178K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.09870	−0.734%	$378K	$5K	10x	as long as short
Gate DOGE_USDT	+0.0100%	8h	0.09943	0.000%	$241.1M	$131.9M	75x	as long as short
MEXC DOGE_USDTlong	+0.0100%	8h	0.09943	long leg	$110.4M	$229.3M	300x
KuCoin DOGEUSDTM	+0.0100%	8h	0.09943	0.000%	$65.7M	$43.0M	75x	as long as short
BingX DOGE-USDT	+0.0100%	8h	0.09948	+0.050%	—	$76.5M	—	as long as short
Backpack DOGE_USDC_PERPshort	+0.0100%	1h	0.09946	+0.030%	$344K	$1.1M	15x
Variational Omni DOGE	+0.0100%	8h	0.09898	−0.453%	$985K	$8.2M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.09884	−0.597%	$271K	$128.3M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.09885	−0.583%	$621K	$4.5M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.09880	−0.634%	$144K	$276K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.09923	−0.202%	$256K	$642K	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.09932	−0.111%	$70K	$440K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.09930	−0.133%	$24K	$1K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.09927	−0.161%	$35K	$2.2M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.09939	−0.040%	$2K	$3.7M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.09936	−0.074%	$5.9M	$54.8M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.09939	−0.040%	$91.6M	$17.2M	50x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.09930	−0.132%	$523K	$3.9M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.09936	−0.073%	$19K	—	3x	as long as short
Paradex DOGE-USD-PERP	+0.0112%	8h	0.09904	−0.392%	$18K	$6K	30x	as long as short
Reya DOGERUSDPERP	+0.0184%	1h	0.09923	−0.203%	$2K	—	20x	as long as short
01 Exchange DOGEUSD	+0.0192%	1h	0.09928	−0.148%	$529	$4K	10x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0240%	1h	0.09910	−0.332%	$2.0M	$24.9M	50x	as long as short
Phoenix DOGE	+0.0241%	1h	0.09898	−0.452%	$64K	$284K	10x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0245% / S −0.0267%	1h	0.09924	−0.193%	$309K	—	200x	as long as short
Deribit DOGE_USDC-PERPETUAL	+0.0314%	1h	0.09935	−0.083%	$594K	$118K	25x	as long as short
RISEx DOGE/USDC	+0.0563%	1h	0.09931	−0.126%	$399K	$367K	10x	as long as short
Hyperliquid DOGE	+0.0716%	1h	0.09956	+0.133%	$121.2M	$97.5M	10x	as long as short
Injective DOGE/USDC PERP	+0.1004%	1h	0.09940	−0.030%	$5K	$239K	12x	as long as short