Funding you earn now, next payment 23:00 UTC+0.0139%/8h= +15.2% APRpaid last 24h −0.011%
Price spread now: Phoenix against Orderly−0.239%54s7-day average +0.035% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.142%−$14 on $10k
+Price spread, last 3 days (all we have)+0.261%+$26 · spread now −0.239%, 7d avg +0.035%
=Funding pays, the price is against you. Phoenix is 0.274% cheaper against Orderly than usual: you would sell low and buy high (spread −0.239% now, against its 7-day average of +0.035%). If the spread goes back, that is −$27 on $10k: about 6.6 days of funding at the current rate (+$4 a day). Mind the row above: over the last 7 days funding on this pair cost −0.142%, so the current rate has only just turned in your favour. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_DOGE_USDC | 0.09940 | 0.0100 | pay 0.0100% / 8h | 3m 28s | $72K | $446K | 50x |
| Short | Phoenix DOGE | 0.09916 | 0.0239 | get 0.0030% / 1h | 3m 28s | $66K | $281K | 10x |
Orderly PERP_DOGE_USDC
Phoenix DOGEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- $29.19
- Price spread: −0.239% → +0.035%
- −$27.41
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$11.22
- Costs to cover
- 0.130%
- Break-even
- 9.7 days
Slippage unknown: Orderly: no order-book sample; Phoenix: live order book, 5 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 Phoenix live order book, 5 min ago | 1.01 bp | 12.3 bp −$12 | 43.0 bp −$430 | 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 | −0.0212% | 8h | 0.09946 | +0.060% | $152.0M | $270.4M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.09921 | −0.195% | $395K | $4.8M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.09936 | −0.039% | $24K | — | 150x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0062% | 1h | 0.09943 | +0.029% | $598K | $121K | 25x | as long as short |
| dYdX DOGE-USD | +0.0067% | 1h | 0.09938 | −0.019% | $223K | $44K | 10x | as long as short |
| Gate DOGE_USDT | +0.0069% | 8h | 0.09937 | −0.030% | $242.2M | $129.2M | 75x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.09941 | +0.012% | $779K | $5.6M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0098% | 8h | 0.09936 | −0.040% | $960 | $394K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.09947 | +0.075% | $510K | $977K | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.09940 | −0.001% | $4.8M | $46.1M | 75x | as long as short |
Bitget DOGEUSDT
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
Deribit DOGE_USDC-PERPETUAL
dYdX DOGE-USD
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 | 0.09940 | +0.003% | $331K | $511K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.09939 | −0.008% | $315.9M | $1.39B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09942 | +0.020% | $156.9M | $435.0M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09956 | +0.161% | $109.6M | $954.0M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.09945 | +0.050% | $28K | $82K | 10x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09942 | +0.020% | $111.5M | $223.2M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09942 | +0.020% | $65.7M | $42.2M | 75x | as long as short |
| BingX DOGE-USDC | +0.0100% | 8h | 0.09936 | −0.040% | — | $3.4M | — | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.09893 | −0.471% | $994K | $8.1M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.09911 | −0.294% | $256K | $120.7M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.09912 | −0.282% | $623K | $4.6M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.09910 | −0.302% | $145K | $252K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.09945 | +0.045% | $255K | $556K | 10x | as long as short |
| Orderly PERP_DOGE_USDClong | +0.0100% | 8h | 0.09940 | long leg | $72K | $446K | 50x | |
| Derive DOGE-PERP | +0.0100% | 1h | 0.09938 | −0.022% | $24K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09941 | +0.006% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.09940 | 0.000% | $2K | $3.6M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09939 | −0.007% | $6.0M | $52.1M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.09939 | −0.010% | $91.8M | $19.2M | 50x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09909 | −0.313% | $380K | $12K | 10x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.09937 | −0.032% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09938 | −0.024% | $518K | $3.7M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.09941 | +0.014% | $19K | — | 3x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0105% | 1h | 0.09941 | +0.006% | $6.0M | $33.6M | 50x | as long as short |
| Reya DOGERUSDPERP | +0.0180% | 1h | 0.09950 | +0.106% | $2K | — | 20x | as long as short |
| 01 Exchange DOGEUSD | +0.0216% | 1h | 0.09943 | +0.027% | $525 | $4K | 10x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.09911 | −0.292% | $15.2M | $25.2M | 75x | as long as short |
| Phoenix DOGEshort | +0.0239% | 1h | 0.09916 | −0.239% | $66K | $281K | 10x | |
| Coinbase International DOGE-PERP-INTX | +0.0240% | 1h | 0.09945 | +0.050% | $2.0M | $24.2M | 50x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0243% / S −0.0263% | 1h | 0.09933 | −0.072% | $306K | — | 200x | as long as short |
| Backpack DOGE_USDC_PERP | +0.0304% | 1h | 0.09945 | +0.050% | $382K | $1.1M | 15x | as long as short |
| RISEx DOGE/USDC | +0.0708% | 1h | 0.09945 | +0.045% | $314K | $477K | 10x | as long as short |
| Hyperliquid DOGE | +0.0814% | 1h | 0.09965 | +0.253% | $116.4M | $90.3M | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1039% | 1h | 0.09940 | 0.000% | $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-USDC
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
Bulk DOGE-USD
Paradex DOGE-USD-PERP
Extended DOGE-USD
Aevo DOGE-PERP
Kraken Futures PF_DOGEUSD
Reya DOGERUSDPERP
01 Exchange DOGEUSD
BloFin DOGE-USDT
Coinbase International DOGE-PERP-INTX
GMX DOGE/USD [ETH-USDC]
Backpack DOGE_USDC_PERP
RISEx DOGE/USDC
Hyperliquid DOGE
Injective DOGE/USDC PERP