Funding you earn now, next payment 08:00 UTC+0.0510%/8h= +55.9% APRnext payment +$5.10 per $10,000 · paid last 24h 0.000%
Price spread now: Bybit against Phemex+0.129%7-day average −0.032% · you sell dearer than you buy
Net, funding: paid 7d − costs−$47as in the Funding arb table
Net, price: spread back to 7d avg − costs−$25as in the Price arb table
costs, in and out, $10k−$410.411% of the position
Funding, last 7 days−0.062%−$6 on $10k
+Price spread, last 3 days (all we have)−0.134%−$13 · spread now +0.129%, 7d avg −0.032%
=Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Bybit is 0.161% dearer against Phemex than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of −0.032%. Mind the row above: over the last 7 days funding on this pair cost −0.062%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.062% in total (about -3.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$5.10 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 | Phemex DOGEUSDT | 0.1007 | −0.0410 | get 0.0410% / 8h | 7h 40m | $93.0M | $18.4M | 50x |
| Short | Bybit DOGEUSDT | 0.1008 | 0.0100 | get 0.0100% / 8h | 7h 40m | $159.7M | $438.3M | 75x |
Phemex DOGEUSDT
Bybit DOGEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Phemex. 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
- $107.16
- Price spread: +0.129% → −0.032%
- $16.09
- Slippage, 4 orders
- −$18.08
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- $82.17
- Costs to cover
- 0.411%
- Break-even
- 1.6 days
Slippage from Phemex: live order book, 3 min ago; Bybit: live order book, 3 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 Phemex live order book, 3 min ago | 3.99 bp | 10.0 bp −$10 | 27.9 bp −$279 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 3 min ago | 0.50 bp | 6.9 bp −$7 | 10.3 bp −$103 | 23.2 bp −$2,324 | 46.1 bp −$23.0K |
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 | |
|---|---|---|---|---|---|---|---|---|
| Phemex DOGEUSDTlong | −0.0410% | 8h | 0.1007 | long leg | $93.0M | $18.4M | 50x | |
| Bitget DOGEUSDT | −0.0192% | 8h | 0.1007 | +0.020% | $153.4M | $270.8M | 75x | as long as short |
| Kraken Futures PF_DOGEUSD | −0.0077% | 1h | 0.1007 | +0.042% | $6.1M | $33.9M | 50x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.1008 | +0.119% | $401K | $4.8M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.1007 | +0.010% | $24K | — | 150x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0018% | 1h | 0.1008 | +0.078% | $606K | $120K | 25x | as long as short |
| dYdX DOGE-USD | +0.0029% | 1h | 0.1007 | +0.027% | $226K | $44K | 10x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.1008 | +0.155% | $852K | $5.7M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0100% | 8h | 0.1006 | −0.060% | $850 | $403K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1007 | −0.020% | $517K | $973K | 10x | as long as short |
Bitget DOGEUSDT
Kraken Futures PF_DOGEUSD
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
Deribit DOGE_USDC-PERPETUAL
dYdX DOGE-USD
Lighter DOGE
Katana Perps DOGE-USD
Nado DOGE-PERPShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster DOGEUSDT | +0.0100% | 8h | 0.1007 | +0.049% | $5.0M | $46.5M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.1008 | +0.066% | $336K | $517K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.1008 | +0.071% | $320.1M | $1.40B | 75x | as long as short |
| Bybit DOGEUSDTshort | +0.0100% | 8h | 0.1008 | +0.129% | $159.7M | $438.3M | 75x | |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1008 | +0.139% | $110.6M | $971.3M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.1009 | +0.169% | $28K | $82K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.10000 | −0.687% | $383K | $12K | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.1006 | −0.060% | $244.2M | $128.4M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1008 | +0.079% | $114.0M | $223.5M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1007 | +0.020% | $65.9M | $42.5M | 75x | as long as short |
| BingX DOGE-USDC | +0.0100% | 8h | 0.1007 | −0.010% | — | $3.4M | — | as long as short |
| Backpack DOGE_USDC_PERP | +0.0100% | 1h | 0.1007 | −0.040% | $369K | $1.1M | 15x | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.1006 | −0.050% | $1.0M | $8.1M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1004 | −0.321% | $264K | $122.4M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1006 | −0.081% | $640K | $4.6M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1000 | −0.685% | $147K | $260K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.1007 | −0.040% | $264K | $556K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.1008 | +0.060% | $73K | $434K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1008 | +0.070% | $25K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1008 | +0.096% | $36K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1008 | +0.070% | $2K | $3.8M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1007 | +0.041% | $6.0M | $52.5M | 75x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.1008 | +0.133% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1007 | −0.001% | $618K | $3.8M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1008 | +0.070% | $19K | — | 3x | as long as short |
| Reya DOGERUSDPERP | +0.0181% | 1h | 0.1007 | −0.016% | $2K | — | 20x | as long as short |
| 01 Exchange DOGEUSD | +0.0200% | 1h | 0.1007 | −0.019% | $532 | $4K | 10x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.1007 | −0.010% | $15.4M | $25.6M | 75x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0240% | 1h | 0.1008 | +0.099% | $2.0M | $24.8M | 50x | as long as short |
| Phoenix DOGE | +0.0240% | 1h | 0.1002 | −0.466% | $67K | $283K | 10x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0244% / S −0.0263% | 1h | 0.1007 | +0.033% | $311K | — | 200x | as long as short |
| RISEx DOGE/USDC | +0.0701% | 1h | 0.1007 | −0.010% | $319K | $478K | 10x | as long as short |
| Hyperliquid DOGE | +0.0844% | 1h | 0.1008 | +0.159% | $120.7M | $92.7M | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.0973% | 1h | 0.1011 | +0.407% | $5K | $239K | 12x | as long as short |
Aster DOGEUSDT
Pacifica DOGE
Binance 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
Orderly PERP_DOGE_USDC
Derive DOGE-PERP
SunX DOGE-USDT
SoDEX DOGE-USD
HTX DOGE-USDT
Paradex DOGE-USD-PERP
Extended DOGE-USD
Aevo DOGE-PERP
Reya DOGERUSDPERP
01 Exchange DOGEUSD
BloFin DOGE-USDT
Coinbase International DOGE-PERP-INTX
Phoenix DOGE
GMX DOGE/USD [ETH-USDC]
RISEx DOGE/USDC
Hyperliquid DOGE
Injective DOGE/USDC PERP