Funding you earn now, next payment 02:00 UTC+0.0610%/8h= +66.8% APRpaid last 24h +0.132%
Price spread now: Hyperliquid against Orderly+0.435%7-day average +0.077% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.197%+$20 on $10k
+Price spread, last 3 days (all we have)−0.391%−$39 · spread now +0.435%, 7d avg +0.077%
=Together, before fees−0.194%+ Points / potential airdropHyperliquid: Season 2 · farm board−$19 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and Hyperliquid is 0.358% dearer against Orderly than usual: you sell high and buy low: +$36 more if the spread goes back to its 7-day average of +0.077%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.197% in total (about 10.3% 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 | 0.09883 | 0.0100 | pay 0.0100% / 8h | 6h 32m | $70K | $440K | 50x |
| Short | Hyperliquid DOGE | 0.09926 | 0.0710 | get 0.0089% / 1h | 32m 37s | $120.8M | $97.3M | 10x |
Orderly PERP_DOGE_USDC
Hyperliquid DOGEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid 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
- $128.2
- Price spread: +0.435% → +0.077%
- $35.8
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $149
- Costs to cover
- 0.150%
- Break-even
- from the start
Slippage unknown: Orderly: no order-book sample; Hyperliquid: live order book, 11 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 Hyperliquid live order book, 11 min ago | 0.90 bp | 5.7 bp −$6 | doesn't fit | 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 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 | −0.0121% | 8h | 0.09910 | +0.273% | $150.2M | $273.4M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.09899 | +0.158% | $388K | $5.0M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.09881 | −0.021% | $23K | — | 150x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0003% | 1h | 0.09881 | −0.023% | $590K | $118K | 25x | as long as short |
| dYdX DOGE-USD | +0.0021% | 1h | 0.09918 | +0.353% | $223K | $51K | 10x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0067% | 1h | 0.09873 | −0.104% | $5.8M | $34.1M | 50x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.09929 | +0.461% | $771K | $6.0M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0099% | 8h | 0.09878 | −0.051% | $825 | $430K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.09887 | +0.040% | $482K | $972K | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.09902 | +0.189% | $4.6M | $48.3M | 75x | as long as short |
Bitget DOGEUSDT
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
Deribit DOGE_USDC-PERPETUAL
dYdX DOGE-USD
Kraken Futures PF_DOGEUSD
Lighter DOGE
Katana Perps DOGE-USD
Nado DOGE-PERP
Aster DOGEUSDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica DOGE | +0.0100% | 1h | 0.09922 | +0.400% | $327K | $504K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.09924 | +0.415% | $314.2M | $1.43B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09922 | +0.395% | $157.1M | $442.8M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09919 | +0.364% | $109.3M | $975.9M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.09933 | +0.506% | $128K | $178K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09870 | −0.132% | $378K | $5K | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.09902 | +0.192% | $240.4M | $131.7M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09924 | +0.415% | $109.1M | $229.1M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09922 | +0.395% | $65.6M | $43.0M | 75x | as long as short |
| BingX DOGE-USDC | +0.0100% | 8h | 0.09896 | +0.132% | — | $3.4M | — | as long as short |
| Backpack DOGE_USDC_PERP | +0.0100% | 1h | 0.09880 | −0.030% | $342K | $1.1M | 15x | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.09884 | +0.010% | $973K | $8.2M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.09884 | +0.007% | $271K | $128.3M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.09887 | +0.037% | $622K | $4.5M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.09880 | −0.030% | $144K | $276K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.09876 | −0.071% | $254K | $642K | 10x | as long as short |
| Orderly PERP_DOGE_USDClong | +0.0100% | 8h | 0.09883 | long leg | $70K | $440K | 50x | |
| Derive DOGE-PERP | +0.0100% | 1h | 0.09880 | −0.032% | $24K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09886 | +0.031% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.09878 | −0.051% | $2K | $3.7M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09875 | −0.085% | $5.9M | $54.8M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.09875 | −0.081% | $91.0M | $17.4M | 50x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09896 | +0.131% | $523K | $3.9M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.09882 | −0.010% | $19K | — | 3x | as long as short |
| Paradex DOGE-USD-PERP | +0.0112% | 8h | 0.09922 | +0.398% | $18K | $6K | 30x | as long as short |
| Reya DOGERUSDPERP | +0.0184% | 1h | 0.09882 | −0.011% | $2K | — | 20x | as long as short |
| 01 Exchange DOGEUSD | +0.0192% | 1h | 0.09884 | +0.010% | $527 | $4K | 10x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0240% | 1h | 0.09879 | −0.040% | $2.0M | $24.9M | 50x | as long as short |
| Phoenix DOGE | +0.0241% | 1h | 0.09898 | +0.153% | $64K | $284K | 10x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0245% / S −0.0267% | 1h | 0.09883 | +0.002% | $307K | — | 200x | as long as short |
| RISEx DOGE/USDC | +0.0563% | 1h | 0.09882 | −0.006% | $318K | $404K | 10x | as long as short |
| Hyperliquid DOGEshort | +0.0710% | 1h | 0.09926 | +0.435% | $120.8M | $97.3M | 10x | |
| Injective DOGE/USDC PERP | +0.1004% | 1h | 0.09920 | +0.374% | $5K | $239K | 12x | as long as short |
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Arcus DOGE-USD
Bulk DOGE-USD
Gate DOGE_USDT
MEXC DOGE_USDT
KuCoin DOGEUSDTM
BingX DOGE-USDC
Backpack DOGE_USDC_PERP
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
Extended DOGE-USD
Aevo DOGE-PERP
Paradex DOGE-USD-PERP
Reya DOGERUSDPERP
01 Exchange DOGEUSD
Coinbase International DOGE-PERP-INTX
Phoenix DOGE
GMX DOGE/USD [ETH-USDC]
RISEx DOGE/USDC
Injective DOGE/USDC PERP