Funding you earn now, next payment 09:00 UTC−0.0196%/8h= −21.5% APRpaid last 24h +0.018%
Price spread now: Kraken Futures against Phemex+0.052%7-day average −0.002% · you sell dearer than you buy
Net, funding: paid 7d − costs−$30as in the Funding arb table
Net, price: spread back to 7d avg − costs−$30as in the Price arb table
costs, in and out, $10k−$360.356% of the position
Funding, last 7 days+0.053%+$5 on $10k
+Price spread, last 4 days (all we have)−0.072%−$7 · spread now +0.052%, 7d avg −0.002%
=The price spread pays, funding is against you. Kraken Futures is 0.054% dearer against Phemex than usual: you sell high and buy low (spread +0.052% now, against its 7-day average of −0.002%): +$5 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 22 hours. Mind the row above: over the last 7 days funding on this pair paid +0.053%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.053% in total (about 2.8% a year). A funding rate is set anew for every payment. 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 | 0.09871 | 0.0100 | pay 0.0100% / 8h | 7h 38m | $90.2M | $16.5M | 50x |
| Short | Kraken Futures PF_DOGEUSD | 0.09876 | −0.0096 | pay 0.0012% / 1h | 38m 42s | $5.5M | $40.6M | 50x |
Phemex DOGEUSDT
Kraken Futures PF_DOGEUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- −$41.24
- Price spread: +0.052% → −0.002%
- $5.37
- Slippage, 4 orders
- −$13.63
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$71.51
- Costs to cover
- 0.356%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 5 min ago; Kraken Futures: live order book, 5 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 | 0.50 bp | 8.9 bp −$9 | 12.9 bp −$129 | 31.0 bp −$3,095 | doesn't fit |
| Sell Kraken Futures live order book, 5 min ago | 1.01 bp | 8.7 bp −$9 | 11.2 bp −$112 | 19.9 bp −$1,993 | 191.3 bp −$95.7K |
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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_DOGEUSDshort | −0.0096% | 1h | 0.09876 | +0.052% | $5.5M | $40.6M | 50x | |
| Bitget DOGEUSDT | −0.0012% | 8h | 0.09865 | −0.061% | $140.1M | $346.6M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.09886 | +0.156% | $552K | $6.6M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.09875 | +0.038% | $35K | — | 150x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0023% | 1h | 0.09878 | +0.072% | $560K | $293K | 25x | as long as short |
| Injective DOGE/USDC PERP | +0.0033% | 1h | 0.1053 | +6.676% | $6K | $242K | 12x | as long as short |
| Phoenix DOGE | +0.0081% | 1h | 0.09902 | +0.318% | $18K | $386K | 10x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.09881 | +0.103% | $825K | $6.8M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0100% | 8h | 0.09881 | +0.101% | $1K | $545K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.09881 | +0.096% | $535K | $1.1M | 10x | as long as short |
Bitget DOGEUSDT
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
Deribit DOGE_USDC-PERPETUAL
Injective DOGE/USDC PERP
Phoenix DOGE
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 | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid DOGE | +0.0100% | 1h | 0.09878 | +0.070% | $123.3M | $116.7M | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.09874 | +0.034% | $4.9M | $58.8M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.09873 | +0.021% | $320K | $484K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.09874 | +0.026% | $326.7M | $1.71B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09879 | +0.081% | $163.5M | $520.8M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09882 | +0.111% | $115.0M | $1.19B | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.09884 | +0.132% | $16K | $306K | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.09867 | −0.041% | $249.9M | $153.5M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09881 | +0.101% | $117.9M | $258.6M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09881 | +0.101% | $66.2M | $49.5M | 75x | as long as short |
| BingX DOGE-USDC | +0.0100% | 8h | 0.09866 | −0.051% | — | $3.5M | — | as long as short |
| Backpack DOGE_USDC_PERP | +0.0100% | 1h | 0.09870 | −0.010% | $301K | $1.3M | 15x | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.09878 | +0.070% | $1.1M | $8.5M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.09885 | +0.144% | $300K | $139.1M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.09890 | +0.192% | $621K | $4.4M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.09890 | +0.192% | $141K | $347K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.09887 | +0.162% | $257K | $1.2M | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.09874 | +0.030% | $70K | $465K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.09881 | +0.106% | $18K | $7K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09888 | +0.170% | $34K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.09875 | +0.041% | $2K | $5.4M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09880 | +0.090% | $5.8M | $69.0M | 75x | as long as short |
| Phemex DOGEUSDTlong | +0.0100% | 8h | 0.09871 | long leg | $90.2M | $16.5M | 50x | |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09910 | +0.395% | $378K | $2K | 10x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.09869 | −0.015% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09866 | −0.046% | $481K | $4.1M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.09875 | +0.037% | $19K | — | 3x | as long as short |
| Reya DOGERUSDPERP | +0.0202% | 1h | 0.09874 | +0.029% | $2K | — | 20x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0208% | 1h | 0.09889 | +0.182% | $1.9M | $34.8M | 50x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.09879 | +0.081% | $15.5M | $26.7M | 75x | as long as short |
| 01 Exchange DOGEUSD | +0.0232% | 1h | 0.09888 | +0.168% | $455 | $4K | 10x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0238% / S −0.0213% | 1h | 0.09875 | +0.037% | $304K | — | 200x | as long as short |
| dYdX DOGE-USD | +0.0606% | 1h | 0.09880 | +0.090% | $231K | $73K | 10x | as long as short |
| RISEx DOGE/USDC | +0.0717% | 1h | 0.09888 | +0.167% | $398K | $448K | 10x | as long as short |
Hyperliquid DOGE
Aster DOGEUSDT
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Arcus 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
Bulk DOGE-USD
Paradex DOGE-USD-PERP
Extended DOGE-USD
Aevo DOGE-PERP
Reya DOGERUSDPERP
Coinbase International DOGE-PERP-INTX
BloFin DOGE-USDT
01 Exchange DOGEUSD
GMX DOGE/USD [ETH-USDC]
dYdX DOGE-USD
RISEx DOGE/USDC