Funding you earn now, next payment 22:00 UTC−0.0019%/8h= −2.1% APRnext payment −$0.02 per $10,000 · paid last 24h −0.021%
Price spread now: Phoenix against Polymarket Perps−0.823%59s7-day average +0.043% · you buy dearer than you sell
Net, funding: paid 7d − costs−$26as 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−$400.404% of the position
Funding, last 7 days+0.139%+$14 on $10k
+Price spread, last 3 days (all we have)+0.874%+$87 · spread now −0.823%, 7d avg +0.043%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phoenix is 0.866% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$87 if the spread goes back to its 7-day average of +0.043%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.139%, so the current rate has only just turned against you. The two prices were read 59 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 | Polymarket Perps DOGE-USD | 0.1017 | 0.0100 | pay 0.0013% / 1h | 42m 16s | $274K | $536K | 10x |
| Short | Phoenix DOGE | 0.1008 | 0.0081 | get 0.0010% / 1h | 42m 16s | $16K | $222K | 10x |
Polymarket Perps DOGE-USD
Phoenix DOGEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Polymarket Perps. 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
- −$4.09
- Price spread: −0.823% → +0.043%
- −$86.64
- Slippage, 4 orders
- −$25.43
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$131.16
- Costs to cover
- 0.404%
- Break-even
- never at this rate
Slippage from Polymarket Perps: live order book, 40 min ago; Phoenix: live order book, 35 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 Polymarket Perps live order book, 40 min ago | 2.65 bp | 8.0 bp −$8 | 11.3 bp −$113 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 35 min ago | 1.00 bp | 12.3 bp −$12 | 43.0 bp −$430 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget DOGEUSDT | −0.0272% | 8h | 0.1016 | −0.049% | $155.5M | $263.5M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.1011 | −0.612% | $404K | $4.5M | 2.8x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | 0.0000% | 1h | 0.1017 | +0.066% | $616K | $105K | 25x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S −0.0001% | 1h | 0.1017 | −0.007% | $32K | — | 150x | as long as short |
| dYdX DOGE-USD | +0.0013% | 1h | 0.1012 | −0.423% | $227K | $44K | 10x | as long as short |
| Phoenix DOGEshort | +0.0081% | 1h | 0.1008 | −0.823% | $16K | $222K | 10x | |
| Gate DOGE_USDT | +0.0088% | 8h | 0.1017 | −0.020% | $244.6M | $121.8M | 75x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.1014 | −0.323% | $793K | $5.3M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0096% | 8h | 0.1016 | −0.069% | $849 | $359K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1016 | −0.079% | $714K | $777K | 10x | as long as short |
Bitget DOGEUSDT
Kalshi KXDOGEPERP
Deribit DOGE_USDC-PERPETUAL
gTrade (Gains Network) DOGE/USD
dYdX DOGE-USD
Gate DOGE_USDT
Lighter DOGE
Katana Perps DOGE-USD
Nado DOGE-PERPShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster DOGEUSDT | +0.0100% | 8h | 0.1017 | −0.029% | $5.2M | $42.1M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.1013 | −0.338% | $339K | $497K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.1017 | +0.025% | $323.8M | $1.29B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.1017 | +0.039% | $164.7M | $409.4M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1018 | +0.079% | $110.9M | $930.0M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.1017 | +0.039% | $29K | $76K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.1003 | −1.357% | $384K | $14K | 10x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1017 | +0.010% | $111.4M | $215.0M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1017 | −0.030% | $66.5M | $39.6M | 75x | as long as short |
| BingX DOGE-USDC | +0.0100% | 8h | 0.1017 | −0.010% | — | $3.4M | — | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.1003 | −1.312% | $934K | $7.8M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1006 | −1.106% | $276K | $113.4M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1006 | −1.070% | $641K | $4.5M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1006 | −1.062% | $147K | $240K | 25x | as long as short |
| Polymarket Perps DOGE-USDlong | +0.0100% | 1h | 0.1017 | long leg | $274K | $536K | 10x | |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.1017 | +0.049% | $73K | $420K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1017 | +0.048% | $25K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1018 | +0.081% | $36K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1017 | +0.049% | $2K | $3.5M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1012 | −0.472% | $6.1M | $48.9M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.1012 | −0.462% | $93.8M | $19.0M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0101% | 8h | 0.1013 | −0.326% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1017 | +0.051% | $564K | $3.6M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1017 | +0.049% | $19K | — | 3x | as long as short |
| Reya DOGERUSDPERP | +0.0176% | 1h | 0.1017 | +0.031% | $2K | — | 20x | as long as short |
| 01 Exchange DOGEUSD | +0.0184% | 1h | 0.1017 | −0.020% | $537 | $4K | 10x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0216% | 1h | 0.1018 | +0.098% | $2.1M | $23.5M | 50x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.1012 | −0.472% | $15.4M | $24.6M | 75x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0247% / S −0.0271% | 1h | 0.1017 | −0.026% | $319K | — | 200x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0358% | 1h | 0.1017 | +0.010% | $6.1M | $32.2M | 50x | as long as short |
| Backpack DOGE_USDC_PERP | +0.0416% | 1h | 0.1014 | −0.256% | $535K | $936K | 15x | as long as short |
| Hyperliquid DOGE | +0.0451% | 1h | 0.1017 | +0.059% | $112.1M | $81.5M | 10x | as long as short |
| RISEx DOGE/USDC | +0.0702% | 1h | 0.1017 | +0.015% | $319K | $476K | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.0966% | 1h | 0.1013 | −0.374% | $5K | $207K | 12x | as long as short |
Aster DOGEUSDT
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Arcus DOGE-USD
Bulk DOGE-USD
MEXC DOGE_USDT
KuCoin DOGEUSDTM
BingX DOGE-USDC
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
01 Exchange DOGEUSD
Coinbase International DOGE-PERP-INTX
BloFin DOGE-USDT
GMX DOGE/USD [ETH-USDC]
Kraken Futures PF_DOGEUSD
Backpack DOGE_USDC_PERP
Hyperliquid DOGE
RISEx DOGE/USDC
Injective DOGE/USDC PERP