Funding arb · Price arb /

DOGE

all DOGE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: SoDEX against Phemex+0.010%7-day average −0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$380.385% of the position

Long on Phemex Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.002%$0 on $10k

Price spread, last 3 days (all we have)−0.002%$0 · spread now +0.010%, 7d avg −0.015%

Together, before fees−0.004%$0 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SoDEX is 0.025% dearer against Phemex than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex DOGEUSDT	0.1004	0.0100	pay 0.0100% / 8h	1h 20m	$93.0M	$19.2M	50x
Short	SoDEX DOGE-USD	0.1004	0.0100	get 0.0013% / 1h	20m 09s	$2K	$3.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.010%Rate

Funding earned: $0
Price spread: +0.010% → −0.015%: $2.52
Slippage, 4 orders: −$18.45
Fee Phemex: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$35.93
Costs to cover: 0.385%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; SoDEX: live order book, 4 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, 4 min ago	5.47 bp	15.4 bp −$15	24.1 bp −$241	doesn't fit	doesn't fit
Sell SoDEX live order book, 4 min ago	0.50 bp	4.5 bp −$4	8.3 bp −$83	144.7 bp −$14.5K	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	−0.0263%	8h	0.1003	−0.010%	$153.3M	$266.4M	75x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.1007	+0.332%	$418K	$4.7M	2.8x	as long as short
Deribit DOGE_USDC-PERPETUAL	0.0000%	1h	0.1004	+0.016%	$608K	$109K	25x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S −0.0001%	1h	0.1004	+0.080%	$32K	—	150x	as long as short
dYdX DOGE-USD	+0.0010%	1h	0.1006	+0.242%	$226K	$44K	10x	as long as short
Phoenix DOGE	+0.0081%	1h	0.1009	+0.501%	$67K	$222K	10x	as long as short
Gate DOGE_USDT	+0.0093%	8h	0.1004	+0.020%	$241.7M	$124.4M	75x	as long as short
Lighter DOGE	+0.0096%	1h	0.1004	+0.074%	$791K	$5.4M	15x	as long as short
Katana Perps DOGE-USD	+0.0097%	8h	0.1005	+0.149%	$840	$371K	10x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.1005	+0.139%	$579K	$856K	10x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster DOGEUSDT	+0.0100%	8h	0.1004	+0.071%	$5.0M	$43.7M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.1006	+0.276%	$336K	$508K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.1004	+0.085%	$320.0M	$1.32B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.1005	+0.100%	$159.3M	$421.2M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.1005	+0.159%	$109.4M	$932.5M	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.1006	+0.269%	$28K	$76K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.1006	+0.262%	$386K	$14K	10x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.1004	+0.090%	$110.7M	$217.4M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.1004	+0.020%	$66.0M	$41.0M	75x	as long as short
BingX DOGE-USDC	+0.0100%	8h	0.1004	+0.050%	—	$3.4M	—	as long as short
Variational Omni DOGE	+0.0100%	8h	0.1007	+0.351%	$1.0M	$8.1M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.1002	−0.147%	$275K	$116.1M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.1003	−0.022%	$634K	$4.6M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.1002	−0.159%	$146K	$244K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.1005	+0.100%	$268K	$541K	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.1004	0.000%	$73K	$432K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.1003	−0.011%	$25K	$1K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.1005	+0.168%	$35K	$2.2M	30x	as long as short
SoDEX DOGE-USDshort	+0.0100%	1h	0.1004	+0.010%	$2K	$3.6M	10x
HTX DOGE-USDT	+0.0100%	8h	0.1004	+0.012%	$6.0M	$50.3M	75x	as long as short
Phemex DOGEUSDTlong	+0.0100%	8h	0.1004	long leg	$93.0M	$19.2M	50x
Paradex DOGE-USD-PERP	+0.0100%	8h	0.1006	+0.229%	$18K	$5K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.1003	−0.039%	$559K	$3.6M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.1004	+0.014%	$19K	—	3x	as long as short
Reya DOGERUSDPERP	+0.0177%	1h	0.1005	+0.100%	$2K	—	20x	as long as short
01 Exchange DOGEUSD	+0.0184%	1h	0.1006	+0.246%	$531	$4K	10x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0216%	1h	0.1006	+0.239%	$2.0M	$23.7M	50x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.1007	+0.359%	$15.4M	$25.1M	75x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0246% / S −0.0222%	1h	0.1004	+0.081%	$340K	—	200x	as long as short
Kraken Futures PF_DOGEUSD	+0.0363%	1h	0.1003	−0.021%	$5.9M	$32.8M	50x	as long as short
Backpack DOGE_USDC_PERP	+0.0413%	1h	0.1004	+0.090%	$537K	$956K	15x	as long as short
Hyperliquid DOGE	+0.0447%	1h	0.1005	+0.159%	$111.5M	$83.1M	10x	as long as short
RISEx DOGE/USDC	+0.0702%	1h	0.1006	+0.279%	$315K	$476K	10x	as long as short
Injective DOGE/USDC PERP	+0.0966%	1h	0.1010	+0.638%	$5K	$207K	12x	as long as short