Funding you earn now, next payment 02:00 UTC+0.0140%/8h= +15.4% APRpaid last 24h −0.009%
Price spread now: Phoenix against Phemex−0.080%73s7-day average +0.022% · you buy dearer than you sell
Net, funding: paid 7d − costs−$64as 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−$450.449% of the position
Funding, last 7 days−0.188%−$19 on $10k
+Price spread, last 4 days (all we have)+0.184%+$18 · spread now −0.080%, 7d avg +0.022%
=Funding pays, the price is against you. Phoenix is 0.102% cheaper against Phemex than usual: you would sell low and buy high (spread −0.080% now, against its 7-day average of +0.022%). If the spread goes back, that is −$10 on $10k: about 2.4 days of funding at the current rate (+$4 a day). Mind the row above: over the last 7 days funding on this pair cost −0.188%, so the current rate has only just turned in your favour. The two prices were read 73 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 | 0.09959 | 0.0100 | pay 0.0100% / 8h | 5h 14m | $91.6M | $16.6M | 50x |
| Short | Phoenix DOGE | 0.09951 | 0.0240 | get 0.0030% / 1h | 14m 08s | $65K | $288K | 10x |
Phemex DOGEUSDT
Phoenix DOGEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- $29.46
- Price spread: −0.080% → +0.022%
- −$10.19
- Slippage, 4 orders
- −$25.86
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$25.58
- Costs to cover
- 0.449%
- Break-even
- 13.1 days
Slippage from Phemex: live order book, 5 min ago; Phoenix: live order book, 44 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 | 1.00 bp | 9.7 bp −$10 | 18.3 bp −$183 | 36.2 bp −$3,622 | doesn't fit |
| Sell Phoenix live order book, 44 min ago | 1.00 bp | 12.4 bp −$12 | 43.0 bp −$430 | 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 | −0.0075% | 8h | 0.09953 | −0.060% | $150.6M | $274.0M | 75x | as long as short |
| dYdX DOGE-USD | 0.0000% | 1h | 0.09959 | −0.005% | $224K | $49K | 10x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.09965 | +0.064% | $430K | $5.2M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.09957 | −0.017% | $24K | — | 150x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.09966 | +0.068% | $772K | $6.2M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0100% | 8h | 0.09964 | +0.050% | $900 | $443K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.09958 | −0.005% | $533K | $996K | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.09963 | +0.040% | $4.7M | $48.7M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.09964 | +0.046% | $327K | $483K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.09954 | −0.048% | $318.6M | $1.44B | 75x | as long as short |
Bitget DOGEUSDT
dYdX DOGE-USD
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
Lighter DOGE
Katana Perps DOGE-USD
Nado DOGE-PERP
Aster DOGEUSDT
Pacifica DOGE
Binance DOGEUSDTShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09949 | −0.100% | $160.2M | $441.7M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09951 | −0.080% | $111.1M | $987.0M | 50x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09966 | +0.070% | $382K | $0 | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.09956 | −0.030% | $243.6M | $133.6M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09961 | +0.020% | $111.8M | $231.4M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09960 | +0.010% | $65.9M | $43.4M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.09957 | −0.020% | — | $76.3M | — | as long as short |
| Backpack DOGE_USDC_PERP | +0.0100% | 1h | 0.09957 | −0.020% | $328K | $1.1M | 15x | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.09975 | +0.156% | $988K | $8.2M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.09941 | −0.183% | $295K | $129.0M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.09949 | −0.098% | $631K | $4.4M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.09940 | −0.191% | $145K | $279K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.09952 | −0.066% | $252K | $739K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.09962 | +0.030% | $70K | $438K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.09960 | +0.008% | $24K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09962 | +0.028% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.09962 | +0.030% | $2K | $3.9M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09955 | −0.038% | $6.0M | $56.7M | 75x | as long as short |
| Phemex DOGEUSDTlong | +0.0100% | 8h | 0.09959 | long leg | $91.6M | $16.6M | 50x | |
| Paradex DOGE-USD-PERP | +0.0102% | 8h | 0.09962 | +0.034% | $18K | $6K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09959 | −0.002% | $499K | $4.1M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.09959 | −0.003% | $19K | — | 3x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0121% | 1h | 0.09964 | +0.050% | $595K | $118K | 25x | as long as short |
| Reya DOGERUSDPERP | +0.0187% | 1h | 0.09957 | −0.018% | $2K | — | 20x | as long as short |
| 01 Exchange DOGEUSD | +0.0216% | 1h | 0.09971 | +0.116% | $531 | $4K | 10x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.09965 | +0.060% | $15.7M | $25.1M | 75x | as long as short |
| Phoenix DOGEshort | +0.0240% | 1h | 0.09951 | −0.080% | $65K | $288K | 10x | |
| GMX DOGE/USD [ETH-USDC] | L +0.0246% / S −0.0269% | 1h | 0.09957 | −0.020% | $312K | — | 200x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0248% | 1h | 0.09966 | +0.070% | $2.3M | $26.4M | 50x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0307% | 1h | 0.09959 | +0.001% | $5.7M | $35.3M | 50x | as long as short |
| Hyperliquid DOGE | +0.0531% | 1h | 0.09971 | +0.117% | $121.6M | $99.8M | 10x | as long as short |
| RISEx DOGE/USDC | +0.0747% | 1h | 0.09971 | +0.126% | $403K | $368K | 10x | as long as short |
| Arcus DOGE-USD | +0.0781% | 1h | 0.09978 | +0.191% | $128K | $179K | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1072% | 1h | 0.1000 | +0.412% | $5K | $239K | 12x | as long as short |
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Bulk DOGE-USD
Gate DOGE_USDT
MEXC DOGE_USDT
KuCoin DOGEUSDTM
BingX DOGE-USDT
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
GMX DOGE/USD [ETH-USDC]
Coinbase International DOGE-PERP-INTX
Kraken Futures PF_DOGEUSD
Hyperliquid DOGE
RISEx DOGE/USDC
Arcus DOGE-USD
Injective DOGE/USDC PERP