Funding you earn now, next payment 00:00 UTC−0.0317%/8h= −34.7% APRnext payment −$0.40 per $10,000 · paid last 24h +0.051%
Price spread now: Kraken Futures against Phoenix−0.388%49s7-day average −0.012% · you buy dearer than you sell
Net, funding: paid 7d − costs−$25as 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−$480.481% of the position
Funding, last 7 days+0.233%+$23 on $10k
+Price spread, last 3 days (all we have)+0.368%+$37 · spread now −0.388%, 7d avg −0.012%
=Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Kraken Futures is 0.376% cheaper against Phoenix than usual: you would sell low and buy high (−$38 if the spread goes back to its 7-day average of −0.012%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.233%, so the current rate has only just turned against you. The two prices were read 49 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 | Phoenix DOGE | 0.1013 | 0.0240 | pay 0.0030% / 1h | 9m 22s | $66K | $283K | 10x |
| Short | Kraken Futures PF_DOGEUSD | 0.1009 | −0.0077 | pay 0.0010% / 1h | 9m 22s | $6.1M | $33.9M | 50x |
Phoenix DOGE
Kraken Futures PF_DOGEUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- −$66.56
- Price spread: −0.388% → −0.012%
- −$37.63
- Slippage, 4 orders
- −$31.1
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$152.29
- Costs to cover
- 0.481%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 59 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 Phoenix live order book, 59 min ago | 1.01 bp | 12.3 bp −$12 | 50.7 bp −$507 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 5 min ago | 1.97 bp | 13.2 bp −$13 | 14.8 bp −$148 | 29.8 bp −$2,976 | 430.6 bp −$215.3K |
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 | −0.0166% | 8h | 0.1010 | −0.251% | $153.4M | $271.5M | 75x | as long as short |
| Kraken Futures PF_DOGEUSDshort | −0.0077% | 1h | 0.1009 | −0.388% | $6.1M | $33.9M | 50x | |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.1012 | −0.055% | $417K | $4.9M | 2.8x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | 0.0000% | 1h | 0.1010 | −0.249% | $608K | $119K | 25x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.1011 | −0.214% | $24K | — | 150x | as long as short |
| dYdX DOGE-USD | +0.0011% | 1h | 0.1011 | −0.203% | $227K | $44K | 10x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.1012 | −0.069% | $799K | $5.9M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0100% | 8h | 0.1011 | −0.142% | $2K | $421K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1012 | −0.113% | $519K | $972K | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.1012 | −0.101% | $5.1M | $46.7M | 75x | as long as short |
Bitget DOGEUSDT
Kalshi KXDOGEPERP
Deribit DOGE_USDC-PERPETUAL
gTrade (Gains Network) DOGE/USD
dYdX DOGE-USD
Lighter DOGE
Katana Perps DOGE-USD
Nado DOGE-PERP
Aster DOGEUSDTShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica DOGE | +0.0100% | 1h | 0.1011 | −0.146% | $337K | $512K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.1011 | −0.181% | $321.5M | $1.40B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.1011 | −0.192% | $161.1M | $439.1M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1011 | −0.211% | $111.7M | $974.9M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.1012 | −0.073% | $28K | $74K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.1003 | −0.943% | $384K | $5K | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.1011 | −0.221% | $245.8M | $131.3M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1011 | −0.162% | $113.7M | $226.2M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1012 | −0.122% | $66.3M | $42.4M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.1011 | −0.182% | — | $76.2M | — | as long as short |
| Backpack DOGE_USDC_PERP | +0.0100% | 1h | 0.1010 | −0.251% | $366K | $1.1M | 15x | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.1009 | −0.381% | $996K | $8.1M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1009 | −0.326% | $270K | $124.7M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1012 | −0.103% | $644K | $4.5M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1010 | −0.271% | $148K | $268K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.1011 | −0.182% | $268K | $634K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.1011 | −0.221% | $74K | $426K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1010 | −0.275% | $25K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1012 | −0.108% | $36K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1009 | −0.379% | $2K | $3.8M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1009 | −0.328% | $6.0M | $52.9M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.1009 | −0.320% | $93.2M | $17.9M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.1011 | −0.125% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1012 | −0.076% | $534K | $3.9M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1010 | −0.293% | $19K | — | 3x | as long as short |
| 01 Exchange DOGEUSD | +0.0176% | 1h | 0.1011 | −0.138% | $534 | $4K | 10x | as long as short |
| Reya DOGERUSDPERP | +0.0182% | 1h | 0.1011 | −0.183% | $2K | — | 20x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.1009 | −0.330% | $15.4M | $25.7M | 75x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0240% | 1h | 0.1009 | −0.359% | $2.0M | $25.2M | 50x | as long as short |
| Phoenix DOGElong | +0.0240% | 1h | 0.1013 | long leg | $66K | $283K | 10x | |
| GMX DOGE/USD [ETH-USDC] | L +0.0247% / S −0.0271% | 1h | 0.1011 | −0.170% | $318K | — | 200x | as long as short |
| RISEx DOGE/USDC | +0.0701% | 1h | 0.1012 | −0.073% | $327K | $404K | 10x | as long as short |
| Hyperliquid DOGE | +0.0773% | 1h | 0.1012 | −0.034% | $123.5M | $95.5M | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.0973% | 1h | 0.1013 | +0.026% | $5K | $239K | 12x | as long as short |
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Arcus DOGE-USD
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
Phemex DOGEUSDT
Paradex DOGE-USD-PERP
Extended DOGE-USD
Aevo DOGE-PERP
01 Exchange DOGEUSD
Reya DOGERUSDPERP
BloFin DOGE-USDT
Coinbase International DOGE-PERP-INTX
GMX DOGE/USD [ETH-USDC]
RISEx DOGE/USDC
Hyperliquid DOGE
Injective DOGE/USDC PERP