Funding you earn now, next payment 04:00 UTC+0.0252%/8h= +27.6% APRnext payment +$2.52 per $10,000 · paid last 24h −0.030%
Price spread now: Kalshi against Phemex−0.003%7-day average −0.054% · you buy dearer than you sell
Net, funding: paid 7d − costs−$59as in the Funding arb table
Net, price: spread back to 7d avg − costs−$37as in the Price arb table
costs, in and out, $10k−$420.421% of the position
Funding, last 7 days−0.172%−$17 on $10k
+Price spread, last 3 days (all we have)−0.002%$0 · spread now −0.003%, 7d avg −0.054%
=Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Kalshi is 0.051% dearer against Phemex than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.054%. Mind the row above: over the last 7 days funding on this pair cost −0.172%, 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 -0.172% in total (about -9.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.52 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 | 0.1010 | −0.0252 | get 0.0252% / 8h | 7h 32m | $93.2M | $18.0M | 50x |
| Short | Kalshi KXDOGEPERP | 0.1010 | 0 | get 0.0000% / 8h | 3h 32m | $407K | $4.8M | 2.8x |
Phemex DOGEUSDT
Kalshi KXDOGEPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kalshi 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
- $52.84
- Price spread: −0.003% → −0.054%
- $5.12
- Slippage, 4 orders
- −$20.11
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Net
- $15.85
- Costs to cover
- 0.421%
- Break-even
- 4.9 days
Slippage from Phemex: live order book, 2 min ago; Kalshi: live order book, 1 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, 2 min ago | 2.48 bp | 10.8 bp −$11 | 21.4 bp −$214 | doesn't fit | doesn't fit |
| Sell Kalshi live order book, 1 min ago | 4.07 bp | 11.9 bp −$12 | 19.1 bp −$191 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Phemex DOGEUSDTlong | −0.0252% | 8h | 0.1010 | long leg | $93.2M | $18.0M | 50x | |
| Bitget DOGEUSDT | −0.0187% | 8h | 0.1011 | +0.089% | $153.9M | $270.8M | 75x | as long as short |
| Kraken Futures PF_DOGEUSD | −0.0077% | 1h | 0.1009 | −0.141% | $6.1M | $33.9M | 50x | as long as short |
| Kalshi KXDOGEPERPshort | 0.0000% | 8h | 0.1010 | −0.003% | $407K | $4.8M | 2.8x | |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.1007 | −0.252% | $24K | — | 150x | as long as short |
| dYdX DOGE-USD | +0.0021% | 1h | 0.1006 | −0.353% | $226K | $44K | 10x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.1009 | −0.079% | $790K | $5.8M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0100% | 8h | 0.1006 | −0.446% | $840 | $410K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1006 | −0.376% | $517K | $973K | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.1007 | −0.315% | $5.0M | $46.4M | 75x | as long as short |
Bitget DOGEUSDT
Kraken Futures PF_DOGEUSD
gTrade (Gains Network) DOGE/USD
dYdX DOGE-USD
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 | 0.1007 | −0.340% | $335K | $516K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.1010 | +0.047% | $321.6M | $1.40B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.1011 | +0.109% | $160.4M | $438.0M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1011 | +0.119% | $110.5M | $974.3M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.1005 | −0.455% | $28K | $82K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.1005 | −0.480% | $385K | $9K | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.1011 | +0.119% | $245.7M | $129.0M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1012 | +0.149% | $113.9M | $224.4M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1011 | +0.139% | $66.3M | $42.5M | 75x | as long as short |
| BingX DOGE-USDC | +0.0100% | 8h | 0.1010 | +0.010% | — | $3.4M | — | as long as short |
| Backpack DOGE_USDC_PERP | +0.0100% | 1h | 0.1012 | +0.168% | $368K | $1.1M | 15x | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.1010 | +0.049% | $1.0M | $8.1M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1008 | −0.246% | $265K | $123.2M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1007 | −0.327% | $643K | $4.5M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1010 | 0.000% | $148K | $267K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.1006 | −0.446% | $275K | $583K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.1008 | −0.208% | $73K | $427K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1008 | −0.194% | $25K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1008 | −0.173% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1008 | −0.149% | $2K | $3.8M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1010 | +0.015% | $6.0M | $52.6M | 75x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.1006 | −0.437% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1008 | −0.164% | $532K | $3.9M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1008 | −0.197% | $19K | — | 3x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0157% | 1h | 0.1008 | −0.150% | $607K | $121K | 25x | as long as short |
| Reya DOGERUSDPERP | +0.0181% | 1h | 0.1006 | −0.358% | $2K | — | 20x | as long as short |
| 01 Exchange DOGEUSD | +0.0192% | 1h | 0.1006 | −0.409% | $531 | $4K | 10x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.1006 | −0.406% | $15.4M | $25.6M | 75x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0240% | 1h | 0.1008 | −0.218% | $2.0M | $25.0M | 50x | as long as short |
| Phoenix DOGE | +0.0240% | 1h | 0.1008 | −0.228% | $67K | $283K | 10x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0244% / S −0.0263% | 1h | 0.1007 | −0.266% | $310K | — | 200x | as long as short |
| RISEx DOGE/USDC | +0.0701% | 1h | 0.1005 | −0.456% | $318K | $477K | 10x | as long as short |
| Hyperliquid DOGE | +0.0855% | 1h | 0.1013 | +0.257% | $122.7M | $93.8M | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.0973% | 1h | 0.1011 | +0.099% | $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
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
Deribit DOGE_USDC-PERPETUAL
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