Funding you earn now, next payment 04:00 UTC+0.0399%/8h= +43.7% APRnext payment +$0.50 per $10,000 · paid last 24h +0.018%
Price spread now: Arcus against Phoenix−0.097%49s7-day average −0.030% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$550.545% of the position
Funding, last 4 days (all we have)+0.081%+$8 on $10k
+Price spread, last 4 days (all we have)−0.038%−$4 · spread now −0.097%, 7d avg −0.030%
=Funding pays, the price is against you. Arcus is 0.067% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.097% now, against its 7-day average of −0.030%). If the spread goes back, that is −$7 on $10k: about 13 hours of funding at the current rate (+$12 a day). At the pace of the last 4 days (+0.081% in total) that is about 3.0 days. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.081% in total (about 8.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.50 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 | Phoenix DOGE | 0.1017 | 0.0235 | pay 0.0029% / 1h | 12m 26s | $19K | $292K | 10x |
| Short | Arcus DOGE-USD | 0.1016 | 0.0634 | get 0.0079% / 1h | 12m 26s | $110K | $207K | 10x |
Phoenix DOGE
Arcus DOGE-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Arcus against Phoenix. 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
- $83.73
- Price spread: −0.097% → −0.030%
- −$6.7
- Slippage, 4 orders
- −$43.01
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- $22.53
- Costs to cover
- 0.545%
- Break-even
- 5.1 days
Slippage from Phoenix: live order book, 35 min ago; Arcus: live order book, 36 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 Phoenix live order book, 35 min ago | 0.95 bp | 12.3 bp −$12 | 50.7 bp −$507 | doesn't fit | doesn't fit |
| Sell Arcus live order book, 36 min ago | 11.93 bp | 15.1 bp −$15 | 28.0 bp −$280 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.1017 | −0.004% | $688K | $6.3M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.1013 | −0.450% | $24K | — | 150x | as long as short |
| dYdX DOGE-USD | +0.0019% | 1h | 0.1016 | −0.131% | $228K | $70K | 10x | as long as short |
| Bitget DOGEUSDT | +0.0081% | 8h | 0.1013 | −0.432% | $131.6M | $317.7M | 75x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.1017 | −0.047% | $751K | $6.5M | 15x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1013 | −0.392% | $556K | $1.1M | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.1013 | −0.438% | $4.9M | $54.9M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.1016 | −0.089% | $324K | $519K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.1013 | −0.445% | $333.0M | $1.62B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.1013 | −0.432% | $165.3M | $501.9M | 75x | as long as short |
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
dYdX DOGE-USD
Bitget DOGEUSDT
Lighter DOGE
Nado DOGE-PERP
Aster DOGEUSDT
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDTShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1013 | −0.392% | $115.3M | $1.15B | 50x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.1016 | −0.108% | $390K | $16K | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.1013 | −0.461% | $249.4M | $147.0M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1012 | −0.520% | $114.6M | $246.8M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1012 | −0.510% | $66.5M | $48.3M | 75x | as long as short |
| BingX DOGE-USDC | +0.0100% | 8h | 0.1013 | −0.471% | — | $3.5M | — | as long as short |
| Backpack DOGE_USDC_PERP | +0.0100% | 1h | 0.1016 | −0.107% | $338K | $1.2M | 15x | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.1019 | +0.175% | $1.2M | $8.5M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1019 | +0.201% | $325K | $136.7M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1019 | +0.155% | $642K | $4.6M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1022 | +0.463% | $154K | $330K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.1012 | −0.491% | $261K | $1.0M | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.1013 | −0.432% | $66K | $458K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1015 | −0.195% | $19K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1016 | −0.080% | $35K | $2.3M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1016 | −0.087% | $2K | $5.1M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1016 | −0.092% | $6.0M | $65.6M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.1016 | −0.097% | $93.5M | $17.2M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.1015 | −0.199% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1015 | −0.244% | $491K | $4.1M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1016 | −0.159% | $19K | — | 3x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0114% | 1h | 0.1016 | −0.121% | $577K | $247K | 25x | as long as short |
| Katana Perps DOGE-USD | +0.0120% | 8h | 0.1015 | −0.205% | $2K | $503K | 10x | as long as short |
| Reya DOGERUSDPERP | +0.0193% | 1h | 0.1012 | −0.483% | $2K | — | 20x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.1017 | −0.058% | $16.4M | $26.9M | 75x | as long as short |
| Phoenix DOGElong | +0.0235% | 1h | 0.1017 | long leg | $19K | $292K | 10x | |
| 01 Exchange DOGEUSD | +0.0240% | 1h | 0.1015 | −0.179% | $452 | $4K | 10x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0248% | 1h | 0.1016 | −0.087% | $5.5M | $39.5M | 50x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0255% / S −0.0299% | 1h | 0.1013 | −0.463% | $332K | — | 200x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0304% | 1h | 0.1017 | +0.021% | $2.2M | $33.4M | 50x | as long as short |
| Hyperliquid DOGE | +0.0433% | 1h | 0.1013 | −0.382% | $126.3M | $111.3M | 10x | as long as short |
| Arcus DOGE-USDshort | +0.0634% | 1h | 0.1016 | −0.097% | $110K | $207K | 10x | |
| RISEx DOGE/USDC | +0.0728% | 1h | 0.1016 | −0.132% | $410K | $432K | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1062% | 1h | 0.1053 | +3.510% | $6K | $242K | 12x | as long as short |
OKX DOGE-USDT-SWAP
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
Phemex DOGEUSDT
Paradex DOGE-USD-PERP
Extended DOGE-USD
Aevo DOGE-PERP
Deribit DOGE_USDC-PERPETUAL
Katana Perps DOGE-USD
Reya DOGERUSDPERP
BloFin DOGE-USDT
01 Exchange DOGEUSD
Kraken Futures PF_DOGEUSD
GMX DOGE/USD [ETH-USDC]
Coinbase International DOGE-PERP-INTX
Hyperliquid DOGE
RISEx DOGE/USDC
Injective DOGE/USDC PERP