Funding arb · Price arb /

DOGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against MEXC−0.090%7-day average +0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$270.270% of the position

Long on MEXC Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.019%+$2 on $10k

Price spread, last 4 days (all we have)+0.068%+$7 · spread now −0.090%, 7d avg +0.016%

Together, before fees+0.087%+$9 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 0.107% cheaper against MEXC than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of +0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC DOGE_USDT	0.09970	0.0100	pay 0.0100% / 8h	5h 33m	$111.9M	$230.3M	300x
Short	Phemex DOGEUSDT	0.09961	0.0100	get 0.0100% / 8h	5h 33m	$91.7M	$16.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.090%Rate

Funding earned: $0
Price spread: −0.090% → +0.016%: −$10.66
Slippage, 4 orders: −$15
Fee MEXC: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$37.66
Costs to cover: 0.270%
Break-even: never at this rate

Slippage from MEXC: live order book, 6 min ago; Phemex: live order book, 6 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, 6 min ago	0.50 bp	0.5 bp −$1	2.6 bp −$26	10.6 bp −$1,064	40.5 bp −$20.3K
Sell Phemex live order book, 6 min ago	2.51 bp	9.8 bp −$10	15.9 bp −$159	33.7 bp −$3,373	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	−0.0091%	8h	0.09963	−0.070%	$150.9M	$273.9M	75x	as long as short
dYdX DOGE-USD	0.0000%	1h	0.09962	−0.085%	$224K	$49K	10x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.09966	−0.045%	$444K	$5.1M	2.8x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.09945	−0.254%	$24K	—	150x	as long as short
Deribit DOGE_USDC-PERPETUAL	+0.0021%	1h	0.09950	−0.203%	$594K	$118K	25x	as long as short
Lighter DOGE	+0.0096%	1h	0.09966	−0.044%	$784K	$6.2M	15x	as long as short
Katana Perps DOGE-USD	+0.0099%	8h	0.09968	−0.020%	$3K	$441K	10x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.09978	+0.080%	$532K	$993K	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.09958	−0.120%	$4.7M	$48.7M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.09965	−0.047%	$328K	$483K	20x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance DOGEUSDT	+0.0100%	8h	0.09979	+0.089%	$319.4M	$1.44B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.09978	+0.080%	$160.8M	$441.2M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.09980	+0.100%	$111.4M	$988.7M	50x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.09985	+0.148%	$383K	$2K	10x	as long as short
Gate DOGE_USDT	+0.0100%	8h	0.09965	−0.050%	$243.2M	$132.3M	75x	as long as short
MEXC DOGE_USDTlong	+0.0100%	8h	0.09970	long leg	$111.9M	$230.3M	300x
KuCoin DOGEUSDTM	+0.0100%	8h	0.09958	−0.120%	$65.9M	$43.3M	75x	as long as short
BingX DOGE-USDT	+0.0100%	8h	0.09969	−0.010%	—	$76.2M	—	as long as short
Backpack DOGE_USDC_PERP	+0.0100%	1h	0.09954	−0.160%	$328K	$1.1M	15x	as long as short
Variational Omni DOGE	+0.0100%	8h	0.09987	+0.166%	$981K	$8.2M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.09984	+0.136%	$297K	$129.8M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.09992	+0.221%	$635K	$4.4M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.1000	+0.301%	$146K	$278K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.09947	−0.234%	$254K	$734K	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.09950	−0.201%	$70K	$440K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.09947	−0.228%	$24K	$1K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.09952	−0.183%	$35K	$2.2M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.09950	−0.201%	$2K	$3.9M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.09952	−0.182%	$5.9M	$56.5M	75x	as long as short
Phemex DOGEUSDTshort	+0.0100%	8h	0.09961	−0.090%	$91.7M	$16.7M	50x
Paradex DOGE-USD-PERP	+0.0103%	8h	0.09969	−0.015%	$18K	$6K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.09965	−0.048%	$516K	$4.0M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.09949	−0.216%	$19K	—	3x	as long as short
Reya DOGERUSDPERP	+0.0186%	1h	0.09948	−0.224%	$2K	—	20x	as long as short
01 Exchange DOGEUSD	+0.0208%	1h	0.09978	+0.077%	$532	$4K	10x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.1000	+0.311%	$15.7M	$25.2M	75x	as long as short
Phoenix DOGE	+0.0240%	1h	0.09992	+0.226%	$65K	$288K	10x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0245% / S −0.0267%	1h	0.09945	−0.249%	$310K	—	200x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0248%	1h	0.09957	−0.130%	$2.3M	$26.1M	50x	as long as short
Kraken Futures PF_DOGEUSD	+0.0307%	1h	0.09953	−0.170%	$5.7M	$35.1M	50x	as long as short
Hyperliquid DOGE	+0.0454%	1h	0.09969	−0.008%	$121.7M	$99.7M	10x	as long as short
RISEx DOGE/USDC	+0.0747%	1h	0.09978	+0.084%	$402K	$365K	10x	as long as short
Arcus DOGE-USD	+0.0781%	1h	0.09983	+0.130%	$128K	$179K	10x	as long as short
Injective DOGE/USDC PERP	+0.1072%	1h	0.1002	+0.502%	$5K	$239K	12x	as long as short