Funding you earn now, next payment 00:00 UTC+0.0313%/8h= +34.3% APRpaid last 24h +0.029%
Price spread now: Backpack against Orderly+0.149%7-day average +0.002% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.096%+$10 on $10k
+Price spread, last 3 days (all we have)−0.198%−$20 · spread now +0.149%, 7d avg +0.002%
=Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Backpack is 0.147% dearer against Orderly than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of +0.002%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.096% in total (about 5.0% a year). A funding rate is set anew for every payment. 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 | Orderly PERP_DOGE_USDC | 0.1005 | 0.0100 | pay 0.0100% / 8h | 58m 59s | $73K | $432K | 50x |
| Short | Backpack DOGE_USDC_PERP | 0.1006 | 0.0413 | get 0.0052% / 1h | 58m 59s | $537K | $959K | 15x |
Orderly PERP_DOGE_USDC
Backpack DOGE_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Orderly. 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
- $65.81
- Price spread: +0.149% → +0.002%
- $14.72
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $64.52
- Costs to cover
- 0.160%
- Break-even
- 0.1 days
Slippage unknown: Orderly: no order-book sample; Backpack: live order book, 20 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 20 min ago | 0.50 bp | 5.9 bp −$6 | 12.4 bp −$124 | doesn't fit | doesn't fit |
Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.0254% | 8h | 0.1004 | −0.030% | $153.5M | $267.0M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.1003 | −0.153% | $415K | $4.7M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S −0.0001% | 1h | 0.1005 | −0.028% | $32K | — | 150x | as long as short |
| dYdX DOGE-USD | +0.0066% | 1h | 0.1002 | −0.231% | $225K | $44K | 10x | as long as short |
| Phoenix DOGE | +0.0081% | 1h | 0.1002 | −0.243% | $66K | $221K | 10x | as long as short |
| Gate DOGE_USDT | +0.0094% | 8h | 0.1005 | +0.020% | $242.2M | $124.5M | 75x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.1006 | +0.110% | $792K | $5.4M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0097% | 8h | 0.1002 | −0.259% | $837 | $375K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1002 | −0.254% | $572K | $865K | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.1005 | +0.056% | $5.0M | $44.2M | 75x | as long as short |
Bitget DOGEUSDT
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
dYdX DOGE-USD
Phoenix DOGE
Gate DOGE_USDT
Lighter DOGE
Katana Perps DOGE-USD
Nado DOGE-PERP
Aster DOGEUSDTShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica DOGE | +0.0100% | 1h | 0.1003 | −0.189% | $334K | $504K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.1006 | +0.080% | $319.9M | $1.33B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.1005 | +0.050% | $159.7M | $423.4M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1006 | +0.080% | $109.8M | $937.2M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.1003 | −0.179% | $28K | $77K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.1004 | −0.117% | $385K | $12K | 10x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1006 | +0.070% | $116.2M | $217.3M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1005 | +0.050% | $66.3M | $41.3M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.1006 | +0.080% | — | $74.8M | — | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.1001 | −0.417% | $1.0M | $8.1M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1003 | −0.211% | $277K | $116.9M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1001 | −0.347% | $638K | $4.5M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1003 | −0.179% | $147K | $246K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.1002 | −0.259% | $262K | $549K | 10x | as long as short |
| Orderly PERP_DOGE_USDClong | +0.0100% | 8h | 0.1005 | long leg | $73K | $432K | 50x | |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1005 | −0.011% | $25K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1003 | −0.195% | $36K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1005 | +0.060% | $2K | $3.6M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1005 | +0.052% | $6.0M | $50.7M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.1005 | +0.050% | $93.1M | $19.2M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.1002 | −0.252% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1005 | +0.030% | $554K | $3.6M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1005 | +0.031% | $19K | — | 3x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0104% | 1h | 0.1005 | +0.061% | $6.0M | $32.9M | 50x | as long as short |
| Reya DOGERUSDPERP | +0.0178% | 1h | 0.1003 | −0.214% | $2K | — | 20x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0208% | 1h | 0.1006 | +0.073% | $609K | $109K | 25x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.1005 | −0.010% | $15.3M | $25.0M | 75x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0240% | 1h | 0.1004 | −0.090% | $2.0M | $23.8M | 50x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0245% / S −0.0209% | 1h | 0.1004 | −0.082% | $344K | — | 200x | as long as short |
| 01 Exchange DOGEUSD | +0.0272% | 1h | 0.1003 | −0.201% | $529 | $4K | 10x | as long as short |
| Backpack DOGE_USDC_PERPshort | +0.0413% | 1h | 0.1006 | +0.149% | $537K | $959K | 15x | |
| RISEx DOGE/USDC | +0.0708% | 1h | 0.1003 | −0.189% | $314K | $475K | 10x | as long as short |
| Hyperliquid DOGE | +0.0978% | 1h | 0.1007 | +0.239% | $115.0M | $85.4M | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1039% | 1h | 0.1005 | +0.020% | $5K | $239K | 12x | as long as short |
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Arcus DOGE-USD
Bulk 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
Derive DOGE-PERP
SunX DOGE-USDT
SoDEX DOGE-USD
HTX DOGE-USDT
Phemex DOGEUSDT
Paradex DOGE-USD-PERP
Extended DOGE-USD
Aevo DOGE-PERP
Kraken Futures PF_DOGEUSD
Reya DOGERUSDPERP
Deribit DOGE_USDC-PERPETUAL
BloFin DOGE-USDT
Coinbase International DOGE-PERP-INTX
GMX DOGE/USD [ETH-USDC]
01 Exchange DOGEUSD
RISEx DOGE/USDC
Hyperliquid DOGE
Injective DOGE/USDC PERP