Funding you earn now, next payment 04:00 UTC+0.0193%/8h= +21.1% APRpaid last 24h +0.143%
Price spread now: Hyperliquid against Phemex+0.209%7-day average +0.055% · you sell dearer than you buy
Net, funding: paid 7d − costs−$18as in the Funding arb table
Net, price: spread back to 7d avg − costs−$18as in the Price arb table
costs, in and out, $10k−$330.334% of the position
Funding, last 7 days+0.155%+$16 on $10k
+Price spread, last 4 days (all we have)−0.125%−$12 · spread now +0.209%, 7d avg +0.055%
=Together, before fees+0.030%+ Points / potential airdropHyperliquid: Season 2 · farm board+$3 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Hyperliquid is 0.154% dearer against Phemex than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of +0.055%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex DOGEUSDT | 0.1004 | 0.0100 | pay 0.0100% / 8h | 4h 30m | $92.4M | $16.9M | 50x |
| Short | Hyperliquid DOGE | 0.1007 | 0.0293 | get 0.0037% / 1h | 30m 13s | $122.4M | $100.9M | 10x |
Phemex DOGEUSDT
Hyperliquid DOGEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid 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
- $40.46
- Price spread: +0.209% → +0.055%
- $15.44
- Slippage, 4 orders
- −$12.44
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $22.46
- Costs to cover
- 0.334%
- Break-even
- 3.1 days
Slippage from Phemex: live order book, 4 min ago; Hyperliquid: live order book, 4 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, 4 min ago | 1.01 bp | 9.5 bp −$10 | 15.2 bp −$152 | 34.3 bp −$3,426 | doesn't fit |
| Sell Hyperliquid live order book, 4 min ago | 0.75 bp | 6.1 bp −$6 | 6.9 bp −$69 | 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 | −0.0047% | 8h | 0.1005 | +0.050% | $151.8M | $275.8M | 75x | as long as short |
| Kraken Futures PF_DOGEUSD | −0.0031% | 1h | 0.1006 | +0.125% | $5.7M | $35.6M | 50x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.1004 | −0.026% | $396K | $5.2M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.1004 | −0.032% | $24K | — | 150x | as long as short |
| dYdX DOGE-USD | +0.0021% | 1h | 0.1005 | +0.075% | $226K | $49K | 10x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0059% | 1h | 0.1005 | +0.062% | $601K | $118K | 25x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.1006 | +0.130% | $738K | $6.3M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0096% | 8h | 0.1004 | −0.020% | $1K | $452K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1004 | −0.085% | $530K | $1.0M | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.1004 | −0.066% | $4.7M | $49.3M | 75x | as long as short |
Bitget DOGEUSDT
Kraken Futures PF_DOGEUSD
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
dYdX DOGE-USD
Deribit DOGE_USDC-PERPETUAL
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 | 0.1006 | +0.145% | $327K | $482K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.1005 | +0.085% | $322.2M | $1.46B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.1005 | +0.090% | $163.4M | $445.9M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1006 | +0.149% | $112.9M | $1.01B | 50x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09916 | −1.277% | $381K | $859 | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.1005 | +0.100% | $248.0M | $134.2M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1006 | +0.129% | $112.4M | $235.1M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1005 | +0.090% | $66.4M | $43.6M | 75x | as long as short |
| BingX DOGE-USDC | +0.0100% | 8h | 0.1006 | +0.129% | — | $3.5M | — | as long as short |
| Backpack DOGE_USDC_PERP | +0.0100% | 1h | 0.1006 | +0.110% | $322K | $1.2M | 15x | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.1004 | −0.022% | $1.0M | $8.2M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.09923 | −1.207% | $295K | $129.7M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.09925 | −1.185% | $623K | $4.4M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.09970 | −0.737% | $145K | $285K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.1003 | −0.100% | $261K | $856K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.1005 | +0.060% | $70K | $436K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1005 | +0.039% | $25K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1006 | +0.150% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1005 | +0.090% | $2K | $4.0M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1003 | −0.125% | $6.0M | $57.8M | 75x | as long as short |
| Phemex DOGEUSDTlong | +0.0100% | 8h | 0.1004 | long leg | $92.4M | $16.9M | 50x | |
| Paradex DOGE-USD-PERP | +0.0101% | 8h | 0.1006 | +0.150% | $18K | $7K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1005 | +0.018% | $502K | $4.1M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1005 | +0.071% | $19K | — | 3x | as long as short |
| Reya DOGERUSDPERP | +0.0189% | 1h | 0.1003 | −0.127% | $2K | — | 20x | as long as short |
| 01 Exchange DOGEUSD | +0.0200% | 1h | 0.1005 | +0.080% | $536 | $4K | 10x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.1006 | +0.159% | $15.7M | $25.5M | 75x | as long as short |
| Phoenix DOGE | +0.0242% | 1h | 0.09991 | −0.530% | $65K | $288K | 10x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0247% / S −0.0269% | 1h | 0.1004 | −0.054% | $314K | — | 200x | as long as short |
| Hyperliquid DOGEshort | +0.0293% | 1h | 0.1007 | +0.209% | $122.4M | $100.9M | 10x | |
| Coinbase International DOGE-PERP-INTX | +0.0296% | 1h | 0.1006 | +0.169% | $2.4M | $27.2M | 50x | as long as short |
| Arcus DOGE-USD | +0.0690% | 1h | 0.1007 | +0.249% | $110K | $199K | 10x | as long as short |
| RISEx DOGE/USDC | +0.0695% | 1h | 0.1005 | +0.100% | $406K | $414K | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1004% | 1h | 0.1008 | +0.358% | $5K | $239K | 12x | as long as short |
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
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
Phoenix DOGE
GMX DOGE/USD [ETH-USDC]
Coinbase International DOGE-PERP-INTX
Arcus DOGE-USD
RISEx DOGE/USDC
Injective DOGE/USDC PERP