Funding you earn now, next payment 23:00 UTC+0.0866%/8h= +94.8% APRpaid last 24h +0.203%
Price spread now: Injective against Phemex+0.459%55s7-day average +0.178% · you sell dearer than you buy
Net, funding: paid 7d − costs+$52as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1000.997% of the position
Funding, last 7 days+1.513%+$151 on $10k
+Price spread, last 3 days (all we have)−0.543%−$54 · spread now +0.459%, 7d avg +0.178%
=Both sides work for this trade now. Funding pays +$26 a day on $10k at the current rate, and Injective is 0.281% dearer against Phemex than usual: you sell high and buy low: +$28 more if the spread goes back to its 7-day average of +0.178%. The two prices were read 55 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 | Phemex DOGEUSDT | 0.1001 | 0.0100 | pay 0.0100% / 8h | 1h 09m | $92.7M | $19.2M | 50x |
| Short | Injective DOGE/USDC PERP | 0.1006 | 0.0966 | get 0.0121% / 1h | 9m 18s | $5K | $239K | 12x |
Phemex DOGEUSDT
Injective DOGE/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- $181.85
- Price spread: +0.459% → +0.178%
- $28.15
- Slippage, 4 orders
- −$87.69
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $110.29
- Costs to cover
- 0.997%
- Break-even
- 2.8 days
Slippage from Phemex: live order book, 5 min ago; Injective: live order book, 10 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, 5 min ago | 2.49 bp | 13.5 bp −$13 | 30.8 bp −$308 | doesn't fit | doesn't fit |
| Sell Injective live order book, 10 min ago | 34.84 bp | 34.9 bp −$35 | doesn't fit | 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 | −0.0258% | 8h | 0.1003 | +0.140% | $153.2M | $266.8M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.1002 | +0.050% | $415K | $4.7M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S −0.0001% | 1h | 0.1003 | +0.150% | $32K | — | 150x | as long as short |
| dYdX DOGE-USD | +0.0037% | 1h | 0.1002 | +0.076% | $225K | $44K | 10x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0049% | 1h | 0.1003 | +0.204% | $608K | $109K | 25x | as long as short |
| Phoenix DOGE | +0.0081% | 1h | 0.1002 | +0.089% | $66K | $222K | 10x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.1003 | +0.183% | $790K | $5.4M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0097% | 8h | 0.1003 | +0.180% | $838 | $371K | 10x | as long as short |
| Gate DOGE_USDT | +0.0099% | 8h | 0.1003 | +0.120% | $241.5M | $125.1M | 75x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1003 | +0.120% | $571K | $863K | 10x | as long as short |
Bitget DOGEUSDT
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
dYdX DOGE-USD
Deribit DOGE_USDC-PERPETUAL
Phoenix DOGE
Lighter DOGE
Katana Perps DOGE-USD
Gate DOGE_USDT
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 | 0.1003 | +0.190% | $4.9M | $44.1M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.1003 | +0.146% | $334K | $504K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.1003 | +0.170% | $318.9M | $1.33B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.1003 | +0.150% | $158.9M | $421.6M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1003 | +0.190% | $109.1M | $933.1M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.1003 | +0.210% | $28K | $76K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.1003 | +0.142% | $384K | $12K | 10x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1003 | +0.180% | $111.9M | $218.1M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1003 | +0.210% | $66.1M | $41.1M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.1003 | +0.160% | — | $74.7M | — | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.1002 | +0.071% | $1.0M | $8.1M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1003 | +0.162% | $277K | $116.5M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1003 | +0.200% | $633K | $4.5M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1003 | +0.160% | $147K | $245K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.1003 | +0.160% | $267K | $541K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.1003 | +0.170% | $73K | $432K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1003 | +0.168% | $25K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1001 | −0.062% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1004 | +0.240% | $2K | $3.6M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1001 | −0.033% | $6.0M | $50.6M | 75x | as long as short |
| Phemex DOGEUSDTlong | +0.0100% | 8h | 0.1001 | long leg | $92.7M | $19.2M | 50x | |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.1003 | +0.129% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1002 | +0.104% | $554K | $3.6M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1003 | +0.194% | $19K | — | 3x | as long as short |
| Reya DOGERUSDPERP | +0.0177% | 1h | 0.1003 | +0.190% | $2K | — | 20x | as long as short |
| 01 Exchange DOGEUSD | +0.0192% | 1h | 0.1004 | +0.267% | $530 | $4K | 10x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0216% | 1h | 0.1002 | +0.010% | $2.0M | $23.6M | 50x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.1003 | +0.110% | $15.3M | $25.0M | 75x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0248% / S −0.0216% | 1h | 0.1003 | +0.141% | $351K | — | 200x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0364% | 1h | 0.1001 | +0.006% | $5.9M | $32.8M | 50x | as long as short |
| Backpack DOGE_USDC_PERP | +0.0401% | 1h | 0.1002 | +0.070% | $535K | $957K | 15x | as long as short |
| Hyperliquid DOGE | +0.0500% | 1h | 0.1005 | +0.350% | $114.6M | $84.9M | 10x | as long as short |
| RISEx DOGE/USDC | +0.0702% | 1h | 0.1004 | +0.221% | $314K | $476K | 10x | as long as short |
| Injective DOGE/USDC PERPshort | +0.0966% | 1h | 0.1006 | +0.459% | $5K | $239K | 12x |
Aster DOGEUSDT
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
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
Coinbase International DOGE-PERP-INTX
BloFin DOGE-USDT
GMX DOGE/USD [ETH-USDC]
Kraken Futures PF_DOGEUSD
Backpack DOGE_USDC_PERP
Hyperliquid DOGE
RISEx DOGE/USDC