Funding you earn now, next payment 00:00 UTC+0.0222%/8h= +24.3% APRnext payment +$0.28 per $10,000 · paid last 24h +0.025%
Price spread now: Backpack against Nado+0.035%7-day average +0.003% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$25as in the Price arb table
costs, in and out, $10k−$290.286% of the position
Funding, last 3 days (all we have)+0.010%+$1 on $10k
+Price spread, last 3 days (all we have)−0.188%−$19 · spread now +0.035%, 7d avg +0.003%
=Together, before fees−0.177%+ Points / potential airdropNado: Active · farm board−$18 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Backpack is 0.032% dearer against Nado than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.003%.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.010% in total (about 1.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.28 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Nado DOGE-PERP | 0.09914 | 0.0100 | pay 0.0012% / 1h | 8m 37s | $508K | $976K | 10x |
| Short | Backpack DOGE_USDC_PERP | 0.09918 | 0.0322 | get 0.0040% / 1h | 8m 37s | $387K | $1.1M | 15x |
Nado DOGE-PERP
Backpack DOGE_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Nado. 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
- $46.54
- Price spread: +0.035% → +0.003%
- $3.23
- Slippage, 4 orders
- −$11.55
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $21.22
- Costs to cover
- 0.286%
- Break-even
- 3.8 days
Slippage from Nado: live order book, 5 min ago; Backpack: live order book, just now.
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 Nado live order book, 5 min ago | 1.51 bp | 8.2 bp −$8 | 17.4 bp −$174 | doesn't fit | doesn't fit |
| Sell Backpack live order book, just now | 0.50 bp | 5.6 bp −$6 | doesn't fit | 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 | −0.0218% | 8h | 0.09917 | +0.025% | $151.5M | $270.3M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.09925 | +0.110% | $395K | $4.8M | 2.8x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | 0.0000% | 1h | 0.09917 | +0.027% | $596K | $121K | 25x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.09917 | +0.026% | $24K | — | 150x | as long as short |
| dYdX DOGE-USD | +0.0056% | 1h | 0.09915 | +0.006% | $223K | $44K | 10x | as long as short |
| Gate DOGE_USDT | +0.0071% | 8h | 0.09921 | +0.066% | $241.4M | $128.8M | 75x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.09921 | +0.068% | $783K | $5.6M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0098% | 8h | 0.09925 | +0.106% | $959 | $394K | 10x | as long as short |
| Nado DOGE-PERPlong | +0.0100% | 1h | 0.09914 | long leg | $508K | $976K | 10x | |
| Aster DOGEUSDT | +0.0100% | 8h | 0.09917 | +0.027% | $4.8M | $45.9M | 75x | as long as short |
Bitget DOGEUSDT
Kalshi KXDOGEPERP
Deribit DOGE_USDC-PERPETUAL
gTrade (Gains Network) DOGE/USD
dYdX DOGE-USD
Gate DOGE_USDT
Lighter DOGE
Katana Perps DOGE-USD
Aster DOGEUSDTShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica DOGE | +0.0100% | 1h | 0.09921 | +0.062% | $331K | $511K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.09919 | +0.050% | $314.6M | $1.38B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09922 | +0.076% | $156.0M | $434.4M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09927 | +0.126% | $109.0M | $949.0M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.09930 | +0.156% | $28K | $82K | 10x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09923 | +0.086% | $111.0M | $222.9M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09923 | +0.086% | $65.5M | $42.1M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.09924 | +0.096% | — | $75.9M | — | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.09894 | −0.206% | $1.0M | $8.1M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.09919 | +0.043% | $256K | $120.2M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.09899 | −0.160% | $633K | $4.6M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.09920 | +0.055% | $146K | $251K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.09913 | −0.013% | $255K | $556K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.09917 | +0.025% | $72K | $446K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.09916 | +0.011% | $24K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09914 | −0.001% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.09912 | −0.025% | $2K | $3.6M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09923 | +0.086% | $5.9M | $52.0M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.09911 | −0.035% | $91.6M | $19.2M | 50x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09909 | −0.056% | $380K | $12K | 10x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.09923 | +0.086% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09923 | +0.081% | $520K | $3.7M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.09918 | +0.039% | $19K | — | 3x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0106% | 1h | 0.09911 | −0.038% | $5.9M | $33.6M | 50x | as long as short |
| Reya DOGERUSDPERP | +0.0180% | 1h | 0.09920 | +0.060% | $2K | — | 20x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.09912 | −0.025% | $15.2M | $25.1M | 75x | as long as short |
| 01 Exchange DOGEUSD | +0.0224% | 1h | 0.09912 | −0.026% | $523 | $4K | 10x | as long as short |
| Phoenix DOGE | +0.0239% | 1h | 0.09920 | +0.053% | $66K | $281K | 10x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0240% | 1h | 0.09918 | +0.035% | $2.0M | $24.1M | 50x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0243% / S −0.0262% | 1h | 0.09916 | +0.019% | $304K | — | 200x | as long as short |
| Backpack DOGE_USDC_PERPshort | +0.0322% | 1h | 0.09918 | +0.035% | $387K | $1.1M | 15x | |
| RISEx DOGE/USDC | +0.0708% | 1h | 0.09933 | +0.182% | $315K | $477K | 10x | as long as short |
| Hyperliquid DOGE | +0.0829% | 1h | 0.09928 | +0.136% | $116.0M | $90.2M | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1039% | 1h | 0.09940 | +0.257% | $5K | $239K | 12x | as long as short |
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Arcus DOGE-USD
MEXC DOGE_USDT
KuCoin DOGEUSDTM
BingX DOGE-USDT
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
Bulk DOGE-USD
Paradex DOGE-USD-PERP
Extended DOGE-USD
Aevo DOGE-PERP
Kraken Futures PF_DOGEUSD
Reya DOGERUSDPERP
BloFin DOGE-USDT
01 Exchange DOGEUSD
Phoenix DOGE
Coinbase International DOGE-PERP-INTX
GMX DOGE/USD [ETH-USDC]
RISEx DOGE/USDC
Hyperliquid DOGE
Injective DOGE/USDC PERP