Funding you earn now, next payment 07:00 UTC−0.0060%/8h= −6.6% APRpaid last 24h −0.004%
Price spread now: Phemex against Phoenix−0.120%7-day average −0.023% · you buy dearer than you sell
Net, funding: paid 7d − costs−$29as in the Funding arb table
Net, price: spread back to 7d avg − costs−$56as in the Price arb table
costs, in and out, $10k−$460.462% of the position
Funding, last 7 days+0.171%+$17 on $10k
+Price spread, last 4 days (all we have)+0.080%+$8 · spread now −0.120%, 7d avg −0.023%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phemex is 0.097% cheaper against Phoenix than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.023%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.171%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix DOGE | 0.09978 | 0.0160 | pay 0.0020% / 1h | 41m 03s | $18K | $382K | 10x |
| Short | Phemex DOGEUSDT | 0.09966 | 0.0100 | get 0.0100% / 8h | 41m 03s | $91.3M | $16.8M | 50x |
Phoenix DOGE
Phemex DOGEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- −$12.64
- Price spread: −0.120% → −0.023%
- −$9.73
- Slippage, 4 orders
- −$27.25
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$68.62
- Costs to cover
- 0.462%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 57 min ago; Phemex: live order book, 3 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, 57 min ago | 1.00 bp | 12.3 bp −$12 | 50.7 bp −$507 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 3 min ago | 1.00 bp | 9.5 bp −$9 | 11.9 bp −$119 | 27.7 bp −$2,772 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_DOGEUSD | −0.0060% | 1h | 0.09966 | −0.125% | $5.6M | $40.7M | 50x | as long as short |
| dYdX DOGE-USD | 0.0000% | 1h | 0.09972 | −0.064% | $224K | $69K | 10x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.09968 | −0.096% | $594K | $6.5M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.09964 | −0.145% | $35K | — | 150x | as long as short |
| Bitget DOGEUSDT | +0.0022% | 8h | 0.09953 | −0.251% | $140.8M | $345.8M | 75x | as long as short |
| Injective DOGE/USDC PERP | +0.0033% | 1h | 0.1053 | +5.532% | $6K | $242K | 12x | as long as short |
| Polymarket Perps DOGE-USD | +0.0053% | 1h | 0.09964 | −0.141% | $259K | $1.2M | 10x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0061% | 1h | 0.09969 | −0.086% | $572K | $252K | 25x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.09974 | −0.043% | $838K | $6.8M | 15x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.09967 | −0.115% | $537K | $1.1M | 10x | as long as short |
Kraken Futures PF_DOGEUSD
dYdX DOGE-USD
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
Bitget DOGEUSDT
Injective DOGE/USDC PERP
Polymarket Perps DOGE-USD
Deribit DOGE_USDC-PERPETUAL
Lighter DOGE
Nado DOGE-PERPShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid DOGE | +0.0100% | 1h | 0.09973 | −0.051% | $124.1M | $117.2M | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.09962 | −0.158% | $4.5M | $59.0M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.09970 | −0.078% | $319K | $503K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.09961 | −0.168% | $328.9M | $1.72B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09954 | −0.241% | $165.0M | $524.2M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09958 | −0.200% | $116.3M | $1.21B | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.09968 | −0.100% | $17K | $308K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09921 | −0.570% | $381K | $16K | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.09960 | −0.180% | $249.8M | $156.2M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09965 | −0.130% | $117.5M | $258.1M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09964 | −0.140% | $66.4M | $49.9M | 75x | as long as short |
| BingX DOGE-USDC | +0.0100% | 8h | 0.09961 | −0.170% | — | $3.5M | — | as long as short |
| Backpack DOGE_USDC_PERP | +0.0100% | 1h | 0.09965 | −0.130% | $302K | $1.3M | 15x | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.09984 | +0.056% | $1.1M | $8.7M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.09966 | −0.116% | $303K | $139.7M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.09982 | +0.036% | $629K | $4.6M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.09980 | +0.020% | $146K | $342K | 25x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.09969 | −0.090% | $71K | $472K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.09968 | −0.100% | $19K | $7K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09974 | −0.039% | $35K | $2.3M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.09966 | −0.120% | $2K | $5.4M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09970 | −0.076% | $5.9M | $68.9M | 75x | as long as short |
| Phemex DOGEUSDTshort | +0.0100% | 8h | 0.09966 | −0.120% | $91.3M | $16.8M | 50x | |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.09967 | −0.112% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09961 | −0.172% | $488K | $4.1M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.09968 | −0.103% | $19K | — | 3x | as long as short |
| Katana Perps DOGE-USD | +0.0107% | 8h | 0.09965 | −0.130% | $833 | $539K | 10x | as long as short |
| Phoenix DOGElong | +0.0160% | 1h | 0.09978 | long leg | $18K | $382K | 10x | |
| Reya DOGERUSDPERP | +0.0199% | 1h | 0.09959 | −0.189% | $2K | — | 20x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0216% | 1h | 0.09971 | −0.070% | $1.9M | $34.8M | 50x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.09964 | −0.140% | $15.5M | $27.0M | 75x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0250% / S −0.0297% | 1h | 0.09964 | −0.144% | $314K | — | 200x | as long as short |
| 01 Exchange DOGEUSD | +0.0272% | 1h | 0.09975 | −0.028% | $444 | $4K | 10x | as long as short |
| RISEx DOGE/USDC | +0.0731% | 1h | 0.09975 | −0.030% | $406K | $462K | 10x | as long as short |
Hyperliquid DOGE
Aster DOGEUSDT
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-USDC
Backpack DOGE_USDC_PERP
Variational Omni DOGE
edgeX DOGEUSDC
GRVT DOGE_USDT_Perp
ApeX Omni DOGEUSDT
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
Katana Perps DOGE-USD
Reya DOGERUSDPERP
Coinbase International DOGE-PERP-INTX
BloFin DOGE-USDT
GMX DOGE/USD [ETH-USDC]
01 Exchange DOGEUSD
RISEx DOGE/USDC