Funding arb · Price arb /

DOGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0436%/8h= −47.8% APRpaid last 24h −0.143%

Price spread now: Bybit against RISEx−0.111%7-day average −0.056% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$250.251% of the position

Long on RISEx Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.314%−$31 on $10k

Price spread, last 4 days (all we have)+0.138%+$14 · spread now −0.111%, 7d avg −0.056%

Together, before fees−0.176%−$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Bybit is 0.055% cheaper against RISEx than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.056%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx DOGE/USDC	0.09912	0.0536	pay 0.0067% / 1h	27m 31s	$311K	$472K	10x
Short	Bybit DOGEUSDT	0.09901	0.0100	get 0.0100% / 8h	2h 27m	$157.1M	$397.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against RISEx. 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

Position, each leg$Hold fordaysFee RISExbpFee BybitbpOrdersPrice spread, now −0.111%Rate

Funding earned: −$91.65
Price spread: −0.111% → −0.056%: −$5.5
Slippage, 4 orders: −$8.1
Fee RISEx: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$122.25
Costs to cover: 0.251%
Break-even: never at this rate

Slippage from RISEx: live order book, 61 min ago; Bybit: live order book, 2 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 RISEx live order book, 61 min ago	2.51 bp	5.5 bp −$6	13.7 bp −$137	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.51 bp	7.2 bp −$7	12.1 bp −$121	25.9 bp −$2,592	49.2 bp −$24.6K

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	−0.0280%	8h	0.09898	−0.141%	$152.2M	$260.2M	75x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.09881	−0.314%	$360K	$4.3M	2.8x	as long as short
Deribit DOGE_USDC-PERPETUAL	0.0000%	1h	0.09881	−0.314%	$618K	$103K	25x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S −0.0001%	1h	0.09869	−0.434%	$32K	—	150x	as long as short
Gate DOGE_USDT	+0.0066%	8h	0.09899	−0.131%	$235.4M	$119.6M	75x	as long as short
Phoenix DOGE	+0.0080%	1h	0.09864	−0.488%	$15K	$225K	10x	as long as short
Katana Perps DOGE-USD	+0.0095%	8h	0.09902	−0.101%	$827	$337K	10x	as long as short
Lighter DOGE	+0.0096%	1h	0.09902	−0.103%	$785K	$5.1M	15x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.09899	−0.131%	$628K	$695K	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.09903	−0.091%	$4.8M	$40.4M	75x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica DOGE	+0.0100%	1h	0.09902	−0.098%	$335K	$494K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.09907	−0.052%	$314.3M	$1.26B	75x	as long as short
Bybit DOGEUSDTshort	+0.0100%	8h	0.09901	−0.111%	$157.1M	$397.0M	75x
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.09910	−0.020%	$108.2M	$886.7M	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.09909	−0.030%	$28K	$75K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.09838	−0.747%	$377K	$19K	10x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.09905	−0.071%	$112.8M	$216.1M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.09899	−0.131%	$64.9M	$39.1M	75x	as long as short
BingX DOGE-USDC	+0.0100%	8h	0.09899	−0.131%	—	$3.4M	—	as long as short
Variational Omni DOGE	+0.0100%	8h	0.09851	−0.615%	$915K	$7.8M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.09849	−0.633%	$262K	$112.1M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.09857	−0.555%	$627K	$4.6M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.09850	−0.626%	$140K	$223K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.09901	−0.108%	$272K	$527K	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.09879	−0.333%	$56K	$397K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.09877	−0.350%	$24K	$1K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.09875	−0.373%	$35K	$2.1M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.09877	−0.353%	$2K	$3.3M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.09893	−0.195%	$5.9M	$46.8M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.09884	−0.282%	$91.7M	$19.0M	50x	as long as short
Paradex DOGE-USD-PERP	+0.0100%	8h	0.09905	−0.075%	$18K	$5K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.09900	−0.122%	$547K	$3.6M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.09880	−0.323%	$19K	—	3x	as long as short
dYdX DOGE-USD	+0.0107%	1h	0.09896	−0.160%	$222K	$44K	10x	as long as short
Reya DOGERUSDPERP	+0.0174%	1h	0.09905	−0.075%	$2K	—	20x	as long as short
01 Exchange DOGEUSD	+0.0184%	1h	0.09906	−0.059%	$523	$4K	10x	as long as short
Backpack DOGE_USDC_PERP	+0.0218%	1h	0.09903	−0.091%	$523K	$930K	15x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.09859	−0.535%	$15.1M	$23.7M	75x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0224%	1h	0.09883	−0.293%	$2.0M	$22.2M	50x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0243% / S −0.0263%	1h	0.09867	−0.449%	$304K	—	200x	as long as short
Kraken Futures PF_DOGEUSD	+0.0290%	1h	0.09877	−0.351%	$5.9M	$31.6M	50x	as long as short
Hyperliquid DOGE	+0.0430%	1h	0.09911	−0.013%	$109.6M	$78.9M	10x	as long as short
RISEx DOGE/USDClong	+0.0536%	1h	0.09912	long leg	$311K	$472K	10x
Injective DOGE/USDC PERP	+0.1013%	1h	0.09860	−0.525%	$5K	$180K	12x	as long as short