Funding you earn now, next payment 00:00 UTC+0.0204%/8h= +22.3% APRnext payment +$0.25 per $10,000 · paid last 24h +0.026%
Price spread now: Backpack against SoDEX+0.050%7-day average −0.004% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$17as in the Price arb table
costs, in and out, $10k−$220.223% of the position
Funding, last 3 days (all we have)+0.017%+$2 on $10k
+Price spread, last 3 days (all we have)−0.101%−$10 · spread now +0.050%, 7d avg −0.004%
=Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Backpack is 0.054% dearer against SoDEX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.004%.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.017% in total (about 2.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.25 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | SoDEX DOGE-USD | 0.09940 | 0.0100 | pay 0.0013% / 1h | 3m 55s | $2K | $3.6M | 10x |
| Short | Backpack DOGE_USDC_PERP | 0.09945 | 0.0304 | get 0.0038% / 1h | 3m 55s | $382K | $1.1M | 15x |
SoDEX DOGE-USD
Backpack DOGE_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against SoDEX. 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
- $42.78
- Price spread: +0.050% → −0.004%
- $5.44
- Slippage, 4 orders
- −$4.34
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $25.88
- Costs to cover
- 0.223%
- Break-even
- 2.8 days
Slippage from SoDEX: live order book, 5 min ago; Backpack: live order book, 5 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 SoDEX live order book, 5 min ago | 0.50 bp | 4.7 bp −$5 | 8.3 bp −$83 | 134.6 bp −$13.5K | doesn't fit |
| Sell Backpack live order book, 5 min ago | 0.50 bp | 5.6 bp −$6 | doesn't fit | 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 | −0.0213% | 8h | 0.09933 | −0.070% | $151.8M | $270.4M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.09921 | −0.195% | $395K | $4.8M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.09936 | −0.039% | $24K | — | 150x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0062% | 1h | 0.09943 | +0.029% | $598K | $121K | 25x | as long as short |
| dYdX DOGE-USD | +0.0068% | 1h | 0.09931 | −0.090% | $223K | $44K | 10x | as long as short |
| Gate DOGE_USDT | +0.0070% | 8h | 0.09932 | −0.080% | $242.0M | $129.2M | 75x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.09944 | +0.041% | $785K | $5.6M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0098% | 8h | 0.09928 | −0.121% | $959 | $393K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.09933 | −0.065% | $510K | $977K | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.09942 | +0.020% | $4.8M | $46.1M | 75x | as long as short |
Bitget DOGEUSDT
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
Deribit DOGE_USDC-PERPETUAL
dYdX DOGE-USD
Gate DOGE_USDT
Lighter DOGE
Katana Perps DOGE-USD
Nado DOGE-PERP
Aster DOGEUSDTShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica DOGE | +0.0100% | 1h | 0.09933 | −0.073% | $331K | $511K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.09938 | −0.023% | $315.9M | $1.38B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09936 | −0.040% | $156.8M | $434.9M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09940 | 0.000% | $109.5M | $952.0M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.09939 | −0.010% | $28K | $82K | 10x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09936 | −0.040% | $111.4M | $223.2M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09940 | 0.000% | $65.6M | $42.2M | 75x | as long as short |
| BingX DOGE-USDC | +0.0100% | 8h | 0.09934 | −0.060% | — | $3.4M | — | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.09893 | −0.471% | $994K | $8.1M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.09911 | −0.294% | $256K | $120.7M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.09921 | −0.191% | $634K | $4.6M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.09900 | −0.402% | $145K | $252K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.09929 | −0.115% | $255K | $556K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.09940 | 0.000% | $72K | $446K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.09938 | −0.022% | $24K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09941 | +0.006% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USDlong | +0.0100% | 1h | 0.09940 | long leg | $2K | $3.6M | 10x | |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09939 | −0.007% | $6.0M | $52.1M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.09939 | −0.010% | $91.8M | $19.2M | 50x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09909 | −0.313% | $380K | $12K | 10x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.09931 | −0.089% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09934 | −0.064% | $518K | $3.7M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.09941 | +0.014% | $19K | — | 3x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0105% | 1h | 0.09941 | +0.006% | $6.0M | $33.6M | 50x | as long as short |
| Reya DOGERUSDPERP | +0.0180% | 1h | 0.09932 | −0.081% | $2K | — | 20x | as long as short |
| 01 Exchange DOGEUSD | +0.0216% | 1h | 0.09936 | −0.035% | $525 | $4K | 10x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.09911 | −0.292% | $15.2M | $25.2M | 75x | as long as short |
| Phoenix DOGE | +0.0239% | 1h | 0.09916 | −0.239% | $66K | $281K | 10x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0240% | 1h | 0.09945 | +0.050% | $2.0M | $24.2M | 50x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0243% / S −0.0263% | 1h | 0.09933 | −0.072% | $306K | — | 200x | as long as short |
| Backpack DOGE_USDC_PERPshort | +0.0304% | 1h | 0.09945 | +0.050% | $382K | $1.1M | 15x | |
| RISEx DOGE/USDC | +0.0708% | 1h | 0.09940 | +0.003% | $314K | $477K | 10x | as long as short |
| Hyperliquid DOGE | +0.0816% | 1h | 0.09951 | +0.112% | $116.3M | $90.3M | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1039% | 1h | 0.09940 | 0.000% | $5K | $239K | 12x | as long as short |
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Arcus DOGE-USD
MEXC DOGE_USDT
KuCoin DOGEUSDTM
BingX DOGE-USDC
Variational Omni DOGE
edgeX DOGEUSDC
GRVT DOGE_USDT_Perp
ApeX Omni DOGEUSDT
Polymarket Perps DOGE-USD
Orderly PERP_DOGE_USDC
Derive DOGE-PERP
SunX DOGE-USDT
HTX DOGE-USDT
Phemex DOGEUSDT
Bulk DOGE-USD
Paradex DOGE-USD-PERP
Extended DOGE-USD
Aevo DOGE-PERP
Kraken Futures PF_DOGEUSD
Reya DOGERUSDPERP
01 Exchange DOGEUSD
BloFin DOGE-USDT
Phoenix DOGE
Coinbase International DOGE-PERP-INTX
GMX DOGE/USD [ETH-USDC]
RISEx DOGE/USDC
Hyperliquid DOGE
Injective DOGE/USDC PERP