Funding arb · Price arb /

DOGE

all DOGE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0617%/8h= −67.6% APRpaid last 24h −0.167%

Price spread now: Phemex against RISEx−0.081%7-day average −0.032% · 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−$32as in the Price arb table

costs, in and out, $10k−$270.270% of the position

Long on RISEx Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.379%−$38 on $10k

Price spread, last 4 days (all we have)−0.031%−$3 · spread now −0.081%, 7d avg −0.032%

Together, before fees−0.410%−$41 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$19 a day on $10k at the current rate, and Phemex is 0.049% cheaper against RISEx than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.032%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx DOGE/USDC	0.09902	0.0717	pay 0.0090% / 1h	37m 40s	$398K	$448K	10x
Short	Phemex DOGEUSDT	0.09894	0.0100	get 0.0100% / 8h	7h 37m	$90.4M	$16.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.081%Rate

Funding earned: −$129.61
Price spread: −0.081% → −0.032%: −$4.88
Slippage, 4 orders: −$8.98
Fee RISEx: 3 bp × 2 orders: −$6
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$161.47
Costs to cover: 0.270%
Break-even: never at this rate

Slippage from RISEx: live order book, 61 min ago; Phemex: live order book, 6 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	1.51 bp	4.5 bp −$5	9.9 bp −$99	doesn't fit	doesn't fit
Sell Phemex live order book, 6 min ago	0.50 bp	9.1 bp −$9	17.1 bp −$171	35.7 bp −$3,573	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	−0.0096%	1h	0.09896	−0.063%	$5.5M	$40.6M	50x	as long as short
Bitget DOGEUSDT	−0.0012%	8h	0.09889	−0.131%	$140.5M	$346.4M	75x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.09888	−0.144%	$553K	$6.6M	2.8x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.09888	−0.142%	$35K	—	150x	as long as short
Injective DOGE/USDC PERP	+0.0033%	1h	0.1053	+6.342%	$6K	$242K	12x	as long as short
Phoenix DOGE	+0.0081%	1h	0.09902	+0.004%	$18K	$386K	10x	as long as short
Lighter DOGE	+0.0096%	1h	0.09905	+0.033%	$827K	$6.8M	15x	as long as short
Katana Perps DOGE-USD	+0.0100%	8h	0.09894	−0.081%	$1K	$545K	10x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.09880	−0.222%	$535K	$1.1M	10x	as long as short
Hyperliquid DOGE	+0.0100%	1h	0.09906	+0.036%	$123.6M	$116.7M	10x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster DOGEUSDT	+0.0100%	8h	0.09897	−0.053%	$4.9M	$58.8M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.09898	−0.042%	$321K	$484K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.09898	−0.042%	$327.5M	$1.71B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.09892	−0.101%	$163.7M	$520.8M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.09895	−0.071%	$115.5M	$1.19B	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.09897	−0.050%	$16K	$306K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.09875	−0.273%	$377K	$2K	10x	as long as short
Gate DOGE_USDT	+0.0100%	8h	0.09893	−0.091%	$250.5M	$153.5M	75x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.09896	−0.061%	$118.4M	$258.7M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.09899	−0.030%	$66.3M	$49.4M	75x	as long as short
BingX DOGE-USDC	+0.0100%	8h	0.09889	−0.131%	—	$3.5M	—	as long as short
Backpack DOGE_USDC_PERP	+0.0100%	1h	0.09906	+0.040%	$302K	$1.3M	15x	as long as short
Variational Omni DOGE	+0.0100%	8h	0.09878	−0.244%	$1.1M	$8.5M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.09878	−0.242%	$300K	$139.1M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.09890	−0.121%	$621K	$4.4M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.09890	−0.121%	$141K	$347K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.09887	−0.151%	$257K	$1.2M	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.09888	−0.141%	$71K	$465K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.09881	−0.207%	$18K	$7K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.09886	−0.164%	$35K	$2.2M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.09894	−0.081%	$2K	$5.4M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.09896	−0.065%	$5.8M	$69.0M	75x	as long as short
Phemex DOGEUSDTshort	+0.0100%	8h	0.09894	−0.081%	$90.4M	$16.5M	50x
Paradex DOGE-USD-PERP	+0.0100%	8h	0.09895	−0.071%	$18K	$5K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.09890	−0.117%	$481K	$4.1M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.09893	−0.094%	$19K	—	3x	as long as short
Deribit DOGE_USDC-PERPETUAL	+0.0134%	1h	0.09898	−0.042%	$561K	$294K	25x	as long as short
Reya DOGERUSDPERP	+0.0202%	1h	0.09885	−0.168%	$2K	—	20x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0208%	1h	0.09889	−0.131%	$1.9M	$34.8M	50x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.09879	−0.232%	$15.5M	$26.7M	75x	as long as short
01 Exchange DOGEUSD	+0.0224%	1h	0.09901	−0.012%	$456	$4K	10x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0238% / S −0.0213%	1h	0.09888	−0.142%	$304K	—	200x	as long as short
dYdX DOGE-USD	+0.0624%	1h	0.09900	−0.019%	$232K	$73K	10x	as long as short
RISEx DOGE/USDClong	+0.0717%	1h	0.09902	long leg	$398K	$448K	10x