Funding arb · Price arb /

DOGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0866%/8h= +94.8% APRpaid last 24h +0.201%

Price spread now: Injective against SunX+0.246%7-day average +0.163% · you sell dearer than you buy

Net, funding: paid 7d − costs+$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$96as in the Price arb table

costs, in and out, $10k−$1051.048% of the position

Long on SunX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+1.475%+$148 on $10k

Price spread, last 3 days (all we have)−0.377%−$38 · spread now +0.246%, 7d avg +0.163%

Together, before fees+1.098%+$110 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$26 a day on $10k at the current rate, and Injective is 0.083% dearer against SunX than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.163%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX DOGE-USDT	0.1005	0.0100	pay 0.0100% / 8h	1h 53m	$36K	$2.2M	30x
Short	Injective DOGE/USDC PERP	0.1007	0.0966	get 0.0121% / 1h	53m 07s	$5K	$207K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against SunX. 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 SunXbpFee InjectivebpOrdersPrice spread, now +0.246%Rate

Funding earned: $181.85
Price spread: +0.246% → +0.163%: $8.32
Slippage, 4 orders: −$96.78
Fee SunX: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $85.38
Costs to cover: 1.048%
Break-even: 3.7 days

Slippage from SunX: live order book, 3 min ago; Injective: live order book, 31 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 SunX live order book, 3 min ago	17.02 bp	21.1 bp −$21	28.0 bp −$280	doesn't fit	doesn't fit
Sell Injective live order book, 31 min ago	30.12 bp	30.1 bp −$30	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	−0.0273%	8h	0.1001	−0.331%	$153.2M	$262.0M	75x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.1004	−0.036%	$379K	$4.4M	2.8x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S −0.0001%	1h	0.1003	−0.108%	$32K	—	150x	as long as short
Deribit DOGE_USDC-PERPETUAL	+0.0019%	1h	0.1003	−0.109%	$627K	$106K	25x	as long as short
dYdX DOGE-USD	+0.0021%	1h	0.1004	−0.003%	$226K	$44K	10x	as long as short
Phoenix DOGE	+0.0081%	1h	0.1008	+0.313%	$16K	$222K	10x	as long as short
Gate DOGE_USDT	+0.0084%	8h	0.1002	−0.222%	$241.3M	$120.7M	75x	as long as short
Lighter DOGE	+0.0096%	1h	0.1003	−0.133%	$770K	$5.3M	15x	as long as short
Katana Perps DOGE-USD	+0.0096%	8h	0.1004	−0.023%	$1K	$355K	10x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.1004	−0.083%	$680K	$743K	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	0.1004	−0.050%	$5.0M	$41.3M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.1005	+0.037%	$337K	$498K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.1003	−0.175%	$317.4M	$1.28B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.1002	−0.262%	$161.6M	$403.6M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.1002	−0.222%	$109.7M	$907.6M	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.1005	+0.027%	$28K	$76K	10x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.1003	−0.192%	$110.0M	$213.9M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.1002	−0.222%	$65.8M	$39.4M	75x	as long as short
BingX DOGE-USDC	+0.0100%	8h	0.1002	−0.212%	—	$3.4M	—	as long as short
Variational Omni DOGE	+0.0100%	8h	0.1003	−0.166%	$947K	$7.8M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.1006	+0.118%	$277K	$112.8M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.1007	+0.241%	$641K	$4.6M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.1005	+0.047%	$145K	$238K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.1004	−0.083%	$272K	$534K	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.1003	−0.103%	$72K	$417K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.1003	−0.136%	$25K	$1K	10x	as long as short
SunX DOGE-USDTlong	+0.0100%	8h	0.1005	long leg	$36K	$2.2M	30x
SoDEX DOGE-USD	+0.0100%	1h	0.1004	−0.093%	$2K	$3.5M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.1003	−0.138%	$6.0M	$48.4M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.1003	−0.202%	$92.9M	$19.1M	50x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.09939	−1.057%	$381K	$14K	10x	as long as short
Paradex DOGE-USD-PERP	+0.0100%	8h	0.1005	+0.027%	$18K	$5K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.1003	−0.143%	$551K	$3.6M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.1004	−0.095%	$19K	—	3x	as long as short
01 Exchange DOGEUSD	+0.0168%	1h	0.1004	−0.012%	$530	$4K	10x	as long as short
Reya DOGERUSDPERP	+0.0175%	1h	0.1004	−0.086%	$2K	—	20x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0216%	1h	0.1004	−0.043%	$2.0M	$22.9M	50x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.1003	−0.122%	$15.1M	$24.2M	75x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0245% / S −0.0266%	1h	0.1003	−0.118%	$311K	—	200x	as long as short
Hyperliquid DOGE	+0.0362%	1h	0.1003	−0.137%	$110.1M	$80.7M	10x	as long as short
Kraken Futures PF_DOGEUSD	+0.0363%	1h	0.1003	−0.123%	$6.0M	$32.0M	50x	as long as short
Backpack DOGE_USDC_PERP	+0.0368%	1h	0.1003	−0.182%	$529K	$936K	15x	as long as short
RISEx DOGE/USDC	+0.0702%	1h	0.1005	+0.040%	$315K	$474K	10x	as long as short
Injective DOGE/USDC PERPshort	+0.0966%	1h	0.1007	+0.246%	$5K	$207K	12x