Funding arb · Price arb /

DOGE

all DOGE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against Phemex−0.020%7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$240.243% of the position

Long on Phemex Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$1 on $10k

Price spread, last 4 days (all we have)+0.043%+$4 · spread now −0.020%, 7d avg −0.012%

Together, before fees+0.028%+$3 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex DOGEUSDT	0.09910	0.0100	pay 0.0100% / 8h	7h 48m	$90.6M	$16.6M	50x
Short	MEXC DOGE_USDT	0.09908	0.0100	get 0.0100% / 8h	7h 48m	$117.6M	$258.1M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Phemex. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PhemexbpFee MEXCbpOrdersPrice spread, now −0.020%Rate

Funding earned: $0
Price spread: −0.020% → −0.012%: −$0.81
Slippage, 4 orders: −$12.27
Fee Phemex: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$25.09
Costs to cover: 0.243%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; MEXC: 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	3.54 bp	12.2 bp −$12	32.9 bp −$329	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	0.50 bp	0.5 bp −$1	2.6 bp −$26	11.9 bp −$1,186	46.4 bp −$23.2K

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_DOGEUSD	−0.0096%	1h	0.09913	+0.026%	$5.5M	$40.8M	50x	as long as short
Bitget DOGEUSDT	−0.0009%	8h	0.09903	−0.071%	$140.7M	$348.0M	75x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.09914	+0.041%	$549K	$6.6M	2.8x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.09909	−0.013%	$35K	—	150x	as long as short
Injective DOGE/USDC PERP	+0.0033%	1h	0.1053	+6.256%	$6K	$242K	12x	as long as short
Phoenix DOGE	+0.0081%	1h	0.09916	+0.061%	$18K	$386K	10x	as long as short
Deribit DOGE_USDC-PERPETUAL	+0.0093%	1h	0.09915	+0.054%	$560K	$287K	25x	as long as short
Lighter DOGE	+0.0096%	1h	0.09918	+0.080%	$828K	$6.8M	15x	as long as short
Katana Perps DOGE-USD	+0.0100%	8h	0.09913	+0.030%	$1K	$545K	10x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.09910	0.000%	$536K	$1.1M	10x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid DOGE	+0.0100%	1h	0.09917	+0.068%	$123.7M	$117.1M	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.09913	+0.026%	$4.9M	$59.3M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.09910	+0.005%	$322K	$490K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.09910	0.000%	$328.4M	$1.72B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.09904	−0.061%	$164.0M	$522.8M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.09907	−0.030%	$115.4M	$1.19B	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.09918	+0.081%	$16K	$306K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.09885	−0.252%	$377K	$16K	10x	as long as short
Gate DOGE_USDT	+0.0100%	8h	0.09904	−0.061%	$250.7M	$152.9M	75x	as long as short
MEXC DOGE_USDTshort	+0.0100%	8h	0.09908	−0.020%	$117.6M	$258.1M	300x
KuCoin DOGEUSDTM	+0.0100%	8h	0.09909	−0.010%	$66.1M	$50.0M	75x	as long as short
BingX DOGE-USDT	+0.0100%	8h	0.09910	0.000%	—	$53.6M	—	as long as short
Backpack DOGE_USDC_PERP	+0.0100%	1h	0.09910	0.000%	$302K	$1.3M	15x	as long as short
Variational Omni DOGE	+0.0100%	8h	0.09918	+0.079%	$1.1M	$8.5M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.09900	−0.099%	$300K	$139.3M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.09908	−0.018%	$627K	$4.4M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.09910	0.000%	$142K	$346K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.09915	+0.055%	$258K	$1.2M	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.09909	−0.010%	$71K	$469K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.09908	−0.017%	$18K	$7K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.09916	+0.061%	$35K	$2.3M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.09913	+0.030%	$2K	$5.5M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.09917	+0.071%	$5.9M	$69.1M	75x	as long as short
Phemex DOGEUSDTlong	+0.0100%	8h	0.09910	long leg	$90.6M	$16.6M	50x
Paradex DOGE-USD-PERP	+0.0100%	8h	0.09906	−0.041%	$18K	$5K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.09904	−0.065%	$481K	$4.1M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.09910	+0.001%	$19K	—	3x	as long as short
Reya DOGERUSDPERP	+0.0201%	1h	0.09909	−0.012%	$2K	—	20x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0208%	1h	0.09919	+0.091%	$1.9M	$35.0M	50x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.09913	+0.030%	$15.5M	$26.8M	75x	as long as short
01 Exchange DOGEUSD	+0.0240%	1h	0.09921	+0.112%	$441	$4K	10x	as long as short
dYdX DOGE-USD	+0.0241%	1h	0.09909	−0.011%	$223K	$64K	10x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0286% / S −0.0375%	1h	0.09909	−0.010%	$413K	—	200x	as long as short
RISEx DOGE/USDC	+0.0717%	1h	0.09923	+0.130%	$399K	$455K	10x	as long as short