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Funding arb · Price arb /

DOGE

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 22:00 UTC+0.0019%/8h= +2.1% APRpaid last 24h +0.021%
Price spread now: SunX against Phoenix−1.174%69s7-day average +0.009% · you buy dearer than you sell
Net, funding: paid 7d − costs−$47as 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−$710.707% of the position
Long on PhoenixShort on SunX
What this pair did over the last
the charts below follow
Funding, last 7 days+0.241%+$24 on $10k
Price spread, last 3 days (all we have)+1.189%+$119 · spread now −1.174%, 7d avg +0.009%
Together, before fees+1.429%+$143 on $10k · with fees, hour by hour
Funding pays, the price is against you. SunX is 1.183% cheaper against Phoenix than usual: you would sell low and buy high (spread −1.174% now, against its 7-day average of +0.009%). If the spread goes back, that is −$118 on $10k: about 7 months of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.241% in total) that is about 34 days. The two prices were read 69 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix DOGE0.10170.0081pay 0.0010% / 1h35m 56s$16K$222K10x
ShortSunX DOGE-USDT0.10050.0100get 0.0100% / 8h1h 35m$35K$2.2M30x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

SunX against Phoenix. 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

Funding earned
$4.09
Price spread: −1.174% → +0.009%
−$118.34
Slippage, 4 orders
−$55.7
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee SunX: 4 bp × 2 orders
−$8
Net
−$184.95
Costs to cover
0.707%
Break-even
323.5 days
Slippage from Phoenix: live order book, 42 min ago; SunX: live order book, 10 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Phoenix live order book, 42 min ago1.00 bp12.3 bp −$1250.7 bp −$507doesn't fitdoesn't fit
Sell SunX live order book, 10 min ago18.51 bp23.6 bp −$2430.6 bp −$306doesn't fitdoesn't fit

DOGE on 44 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget DOGEUSDT−0.0270%8h0.1004−1.258%$153.4M$264.7M75xas long as short
Kalshi KXDOGEPERP0.0000%8h0.1006−1.093%$409K$4.6M2.8xas long as short
Deribit DOGE_USDC-PERPETUAL0.0000%1h0.1005−1.161%$608K$105K25xas long as short
gTrade (Gains Network) DOGE/USDL +0.0001% / S −0.0001%1h0.1005−1.141%$32K—150xas long as short
dYdX DOGE-USD+0.0010%1h0.1006−1.104%$226K$44K10xas long as short
Phoenix DOGElong+0.0081%1h0.1017long leg$16K$222K10x
Gate DOGE_USDT+0.0085%8h0.1004−1.209%$241.3M$122.7M75xas long as short
Lighter DOGE+0.0096%1h0.1005−1.169%$789K$5.3M15xas long as short
Katana Perps DOGE-USD+0.0096%8h0.1006−1.101%$2K$362K10xas long as short
Nado DOGE-PERP+0.0100%1h0.1005−1.118%$705K$782K10xas long as short
Show all 44 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster DOGEUSDT+0.0100%8h0.1005−1.160%$5.2M$42.7M75xas long as short
Pacifica DOGE+0.0100%1h0.1007−0.997%$337K$503K20xas long as short
Binance DOGEUSDT+0.0100%8h0.1005−1.174%$323.4M$1.31B75xas long as short
Bybit DOGEUSDT+0.0100%8h0.1004−1.209%$162.5M$412.2M75xas long as short
OKX DOGE-USDT-SWAP+0.0100%8h0.1005−1.199%$109.4M$924.0M50xas long as short
Arcus DOGE-USD+0.0100%1h0.1006−1.032%$28K$76K10xas long as short
Bulk DOGE-USD+0.0100%1h0.1017+0.042%$390K$17K10xas long as short
MEXC DOGE_USDT+0.0100%8h0.1005−1.130%$111.2M$216.1M300xas long as short
KuCoin DOGEUSDTM+0.0100%8h0.1005−1.169%$65.7M$40.0M75xas long as short
BingX DOGE-USDC+0.0100%8h0.1005−1.189%—$3.4M—as long as short
Variational Omni DOGE+0.0100%8h0.1017+0.034%$954K$7.8M—as long as short
edgeX DOGEUSDC+0.0100%4h0.1016−0.121%$278K$114.4M20xas long as short
GRVT DOGE_USDT_Perp+0.0100%8h0.1014−0.256%$645K$4.5M10xas long as short
ApeX Omni DOGEUSDT+0.0100%1h0.1014−0.274%$149K$241K25xas long as short
Polymarket Perps DOGE-USD+0.0100%1h0.1005−1.179%$271K$536K10xas long as short
Orderly PERP_DOGE_USDC+0.0100%8h0.1005−1.169%$73K$432K50xas long as short
Derive DOGE-PERP+0.0100%1h0.1005−1.145%$25K$1K10xas long as short
SunX DOGE-USDTshort+0.0100%8h0.1005−1.174%$35K$2.2M30x
SoDEX DOGE-USD+0.0100%1h0.1004−1.209%$2K$3.5M10xas long as short
HTX DOGE-USDT+0.0100%8h0.1004−1.253%$6.0M$49.5M75xas long as short
Phemex DOGEUSDT+0.0100%8h0.1004−1.228%$93.0M$19.0M50xas long as short
Paradex DOGE-USD-PERP+0.0101%8h0.1006−1.079%$18K$5K30xas long as short
Extended DOGE-USD+0.0104%1h0.1005−1.196%$557K$3.6M50xas long as short
Aevo DOGE-PERP+0.0104%1h0.1005−1.181%$19K—3xas long as short
Reya DOGERUSDPERP+0.0176%1h0.1005−1.129%$2K—20xas long as short
01 Exchange DOGEUSD+0.0192%1h0.1006−1.053%$531$4K10xas long as short
Coinbase International DOGE-PERP-INTX+0.0216%1h0.1005−1.120%$2.0M$23.3M50xas long as short
BloFin DOGE-USDT+0.0220%8h0.1007−0.963%$15.4M$25.0M75xas long as short
GMX DOGE/USD [ETH-USDC]L +0.0246% / S −0.0271%1h0.1005−1.135%$315K—200xas long as short
Kraken Futures PF_DOGEUSD+0.0363%1h0.1004−1.250%$5.9M$32.5M50xas long as short
Backpack DOGE_USDC_PERP+0.0414%1h0.1005−1.169%$538K$948K15xas long as short
Hyperliquid DOGE+0.0414%1h0.1006−1.101%$111.0M$82.1M10xas long as short
RISEx DOGE/USDC+0.0702%1h0.1006−1.027%$315K$477K10xas long as short
Injective DOGE/USDC PERP+0.0966%1h0.1018+0.119%$5K$207K12xas long as short