Funding you earn now, next payment 03:00 UTC−0.0142%/8h= −15.6% APRnext payment −$0.18 per $10,000 · paid last 24h +0.006%
Price spread now: Polymarket Perps against Phoenix+1.312%7-day average −0.058% · you sell dearer than you buy
Net, funding: paid 7d − costs−$48as in the Funding arb table
Net, price: spread back to 7d avg − costs+$104as in the Price arb table
costs, in and out, $10k−$330.328% of the position
Funding, last 7 days−0.152%−$15 on $10k
+Price spread, last 4 days (all we have)−1.362%−$136 · spread now +1.312%, 7d avg −0.058%
=The price spread pays, funding is against you. Polymarket Perps is 1.370% dearer against Phoenix than usual: you sell high and buy low (spread +1.312% now, against its 7-day average of −0.058%): +$137 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 32 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix DOGE | 0.1006 | 0.0242 | pay 0.0030% / 1h | 1m 23s | $65K | $288K | 10x |
| Short | Polymarket Perps DOGE-USD | 0.1019 | 0.0100 | get 0.0013% / 1h | 1m 23s | $264K | $877K | 10x |
Phoenix DOGE
Polymarket Perps DOGE-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Polymarket Perps 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
- −$29.91
- Price spread: +1.312% → −0.058%
- $137.02
- Slippage, 4 orders
- −$17.78
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- $74.33
- Costs to cover
- 0.328%
- Break-even
- from the start
Slippage from Phoenix: live order book, 51 min ago; Polymarket Perps: live order book, 57 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, 51 min ago | 1.01 bp | 12.3 bp −$12 | 50.7 bp −$507 | doesn't fit | doesn't fit |
| Sell Polymarket Perps live order book, 57 min ago | 0.05 bp | 4.1 bp −$4 | 5.3 bp −$53 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_DOGEUSD | −0.0031% | 1h | 0.1014 | +0.838% | $5.7M | $35.8M | 50x | as long as short |
| Bitget DOGEUSDT | −0.0023% | 8h | 0.1019 | +1.302% | $153.7M | $279.1M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.1015 | +0.903% | $480K | $5.4M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.1019 | +1.339% | $27K | — | 150x | as long as short |
| dYdX DOGE-USD | +0.0010% | 1h | 0.1020 | +1.373% | $229K | $48K | 10x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.1018 | +1.243% | $750K | $6.3M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0100% | 8h | 0.1019 | +1.293% | $922 | $470K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1020 | +1.377% | $539K | $1.0M | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.1018 | +1.193% | $4.7M | $50.5M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.1019 | +1.306% | $330K | $484K | 20x | as long as short |
Kraken Futures PF_DOGEUSD
Bitget DOGEUSDT
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
dYdX DOGE-USD
Lighter DOGE
Katana Perps DOGE-USD
Nado DOGE-PERP
Aster DOGEUSDT
Pacifica DOGEShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance DOGEUSDT | +0.0100% | 8h | 0.1019 | +1.352% | $333.0M | $1.49B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.1019 | +1.322% | $168.7M | $455.1M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1019 | +1.322% | $116.9M | $1.05B | 50x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.1005 | −0.100% | $386K | $859 | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.1019 | +1.352% | $250.9M | $136.8M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1020 | +1.382% | $116.5M | $237.8M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1020 | +1.392% | $68.1M | $44.5M | 75x | as long as short |
| BingX DOGE-USDC | +0.0100% | 8h | 0.1020 | +1.372% | — | $3.5M | — | as long as short |
| Backpack DOGE_USDC_PERP | +0.0100% | 1h | 0.1014 | +0.795% | $322K | $1.2M | 15x | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.1006 | +0.037% | $1.1M | $8.2M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1009 | +0.358% | $306K | $132.0M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1011 | +0.508% | $639K | $4.4M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1011 | +0.517% | $147K | $292K | 25x | as long as short |
| Polymarket Perps DOGE-USDshort | +0.0100% | 1h | 0.1019 | +1.312% | $264K | $877K | 10x | |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.1014 | +0.835% | $71K | $440K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1014 | +0.816% | $25K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1015 | +0.888% | $36K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1014 | +0.855% | $2K | $4.1M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1014 | +0.779% | $6.1M | $59.1M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.1014 | +0.825% | $93.2M | $16.9M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.1017 | +1.137% | $18K | $7K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1020 | +1.398% | $500K | $4.1M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1014 | +0.834% | $19K | — | 3x | as long as short |
| Reya DOGERUSDPERP | +0.0190% | 1h | 0.1019 | +1.345% | $2K | — | 20x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0214% | 1h | 0.1015 | +0.867% | $607K | $119K | 25x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.1011 | +0.497% | $16.0M | $25.7M | 75x | as long as short |
| 01 Exchange DOGEUSD | +0.0224% | 1h | 0.1020 | +1.445% | $544 | $4K | 10x | as long as short |
| Phoenix DOGElong | +0.0242% | 1h | 0.1006 | long leg | $65K | $288K | 10x | |
| GMX DOGE/USD [ETH-USDC] | L +0.0247% / S −0.0267% | 1h | 0.1019 | +1.342% | $317K | — | 200x | as long as short |
| Hyperliquid DOGE | +0.0276% | 1h | 0.1020 | +1.422% | $125.0M | $102.7M | 10x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0296% | 1h | 0.1015 | +0.885% | $2.1M | $28.5M | 50x | as long as short |
| Arcus DOGE-USD | +0.0690% | 1h | 0.1021 | +1.501% | $111K | $199K | 10x | as long as short |
| RISEx DOGE/USDC | +0.0695% | 1h | 0.1020 | +1.422% | $413K | $416K | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1004% | 1h | 0.1015 | +0.915% | $5K | $239K | 12x | as long as short |
Binance DOGEUSDT
Bybit DOGEUSDT
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
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
Reya DOGERUSDPERP
Deribit DOGE_USDC-PERPETUAL
BloFin DOGE-USDT
01 Exchange DOGEUSD
GMX DOGE/USD [ETH-USDC]
Hyperliquid DOGE
Coinbase International DOGE-PERP-INTX
Arcus DOGE-USD
RISEx DOGE/USDC
Injective DOGE/USDC PERP