Funding arb · Price arb /

DOGE

all DOGE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: Phemex against SoDEX+0.020%7-day average +0.015% · 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−$28as in the Price arb table

costs, in and out, $10k−$290.289% of the position

Long on SoDEX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 3 days (all we have)−0.023%−$2 · spread now +0.020%, 7d avg +0.015%

Together, before fees−0.023%−$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX DOGE-USD	0.09990	0.0100	pay 0.0013% / 1h	26m 40s	$2K	$3.6M	10x
Short	Phemex DOGEUSDT	0.09992	0.0100	get 0.0100% / 8h	26m 40s	$92.4M	$19.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against SoDEX. 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 SoDEXbpFee PhemexbpOrdersPrice spread, now +0.020%Rate

Funding earned: $0
Price spread: +0.020% → +0.015%: $0.51
Slippage, 4 orders: −$8.88
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$28.37
Costs to cover: 0.289%
Break-even: never at this rate

Slippage from SoDEX: live order book, 2 min ago; Phemex: 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 SoDEX live order book, 2 min ago	0.50 bp	4.6 bp −$5	8.1 bp −$81	146.7 bp −$14.7K	doesn't fit
Sell Phemex live order book, 2 min ago	1.00 bp	9.6 bp −$10	16.9 bp −$169	37.2 bp −$3,717	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	−0.0238%	8h	0.09974	−0.160%	$152.0M	$269.3M	75x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.09991	+0.007%	$413K	$4.8M	2.8x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.09993	+0.032%	$23K	—	150x	as long as short
dYdX DOGE-USD	+0.0049%	1h	0.09980	−0.101%	$224K	$44K	10x	as long as short
Deribit DOGE_USDC-PERPETUAL	+0.0070%	1h	0.09994	+0.038%	$602K	$117K	25x	as long as short
Gate DOGE_USDT	+0.0076%	8h	0.09978	−0.120%	$240.4M	$127.3M	75x	as long as short
Lighter DOGE	+0.0096%	1h	0.09980	−0.102%	$790K	$5.5M	15x	as long as short
Katana Perps DOGE-USD	+0.0097%	8h	0.09979	−0.110%	$2K	$390K	10x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.09989	−0.005%	$514K	$975K	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.09987	−0.028%	$4.9M	$45.6M	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	0.09984	−0.059%	$333K	$510K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.09977	−0.127%	$316.4M	$1.37B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.09980	−0.100%	$157.0M	$431.2M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.09983	−0.070%	$108.8M	$945.7M	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.09988	−0.020%	$31K	$80K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.1001	+0.175%	$383K	$12K	10x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.09980	−0.100%	$111.9M	$221.1M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.09981	−0.090%	$65.6M	$41.9M	75x	as long as short
BingX DOGE-USDT	+0.0100%	8h	0.09982	−0.080%	—	$75.7M	—	as long as short
Variational Omni DOGE	+0.0100%	8h	0.1001	+0.214%	$1.0M	$8.1M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.09998	+0.079%	$274K	$119.0M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.1001	+0.241%	$636K	$4.6M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.1001	+0.200%	$147K	$250K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.09987	−0.030%	$257K	$557K	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.09994	+0.040%	$73K	$433K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.09993	+0.030%	$25K	$1K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.09993	+0.028%	$35K	$2.2M	30x	as long as short
SoDEX DOGE-USDlong	+0.0100%	1h	0.09990	long leg	$2K	$3.6M	10x
HTX DOGE-USDT	+0.0100%	8h	0.09989	−0.012%	$6.0M	$51.6M	75x	as long as short
Phemex DOGEUSDTshort	+0.0100%	8h	0.09992	+0.020%	$92.4M	$19.2M	50x
Paradex DOGE-USD-PERP	+0.0100%	8h	0.09980	−0.103%	$18K	$5K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.09981	−0.088%	$525K	$3.7M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.09990	+0.001%	$19K	—	3x	as long as short
Kraken Futures PF_DOGEUSD	+0.0105%	1h	0.09989	−0.009%	$5.9M	$33.3M	50x	as long as short
Reya DOGERUSDPERP	+0.0179%	1h	0.09992	+0.018%	$2K	—	20x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.09993	+0.030%	$15.4M	$25.2M	75x	as long as short
01 Exchange DOGEUSD	+0.0224%	1h	0.09994	+0.039%	$528	$4K	10x	as long as short
Phoenix DOGE	+0.0239%	1h	0.1001	+0.166%	$67K	$281K	10x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0240%	1h	0.09995	+0.050%	$2.0M	$24.1M	50x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0247% / S −0.0273%	1h	0.09994	+0.039%	$315K	—	200x	as long as short
Backpack DOGE_USDC_PERP	+0.0366%	1h	0.09998	+0.080%	$534K	$965K	15x	as long as short
RISEx DOGE/USDC	+0.0708%	1h	0.09989	−0.015%	$313K	$474K	10x	as long as short
Hyperliquid DOGE	+0.0889%	1h	0.1000	+0.120%	$117.5M	$89.2M	10x	as long as short
Injective DOGE/USDC PERP	+0.1039%	1h	0.1003	+0.400%	$5K	$239K	12x	as long as short