Funding you earn now, next payment 23:00 UTC−0.0283%/8h= −31.0% APRnext payment −$0.35 per $10,000 · paid last 24h −0.021%
Price spread now: Bulk against Backpack+1.997%7-day average +0.021% · 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+$169as in the Price arb table
costs, in and out, $10k−$280.285% of the position
Funding, last 3 days (all we have)−0.003%$0 on $10k
+Price spread, last 4 days (all we have)−2.001%−$200 · spread now +1.997%, 7d avg +0.021%
=The price spread pays, funding is against you. Bulk is 1.975% dearer against Backpack than usual: you sell high and buy low (spread +1.997% now, against its 7-day average of +0.021%): +$198 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 23 days. At the pace of the last 3 days (−0.003% in total) that is about years.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.003% in total (about -0.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.35 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 | Backpack DOGE_USDC_PERP | 0.09973 | 0.0383 | pay 0.0048% / 1h | 30m 59s | $533K | $952K | 15x |
| Short | Bulk DOGE-USD | 0.1017 | 0.0100 | get 0.0013% / 1h | 30m 59s | $390K | $17K | 10x |
Backpack DOGE_USDC_PERP
Bulk DOGE-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bulk against Backpack. 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
- −$59.51
- Price spread: +1.997% → +0.021%
- $197.53
- Slippage, 4 orders
- −$11.45
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Bulk: 3.5 bp × 2 orders
- −$7
- Net
- $109.57
- Costs to cover
- 0.285%
- Break-even
- from the start
Slippage from Backpack: live order book, 53 min ago; Bulk: live order book, 53 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 Backpack live order book, 53 min ago | 0.50 bp | 5.5 bp −$6 | 428.2 bp −$4,282 | doesn't fit | doesn't fit |
| Sell Bulk live order book, 53 min ago | 5.02 bp | 8.5 bp −$9 | 8.5 bp −$85 | 15.3 bp −$1,527 | 24.1 bp −$12.1K |
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 | −0.0268% | 8h | 0.09967 | −0.060% | $152.2M | $265.7M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.09982 | +0.089% | $415K | $4.7M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S −0.0001% | 1h | 0.09978 | +0.048% | $32K | — | 150x | as long as short |
| dYdX DOGE-USD | +0.0008% | 1h | 0.09986 | +0.128% | $224K | $44K | 10x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0071% | 1h | 0.09973 | −0.001% | $604K | $109K | 25x | as long as short |
| Phoenix DOGE | +0.0081% | 1h | 0.1003 | +0.618% | $19K | $222K | 10x | as long as short |
| Gate DOGE_USDT | +0.0089% | 8h | 0.09967 | −0.060% | $239.5M | $123.4M | 75x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.09972 | −0.008% | $780K | $5.4M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0096% | 8h | 0.09977 | +0.040% | $2K | $366K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.09979 | +0.060% | $568K | $851K | 10x | as long as short |
Bitget DOGEUSDT
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
dYdX DOGE-USD
Deribit DOGE_USDC-PERPETUAL
Phoenix DOGE
Gate DOGE_USDT
Lighter DOGE
Katana Perps DOGE-USD
Nado DOGE-PERPShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster DOGEUSDT | +0.0100% | 8h | 0.09966 | −0.066% | $5.1M | $43.1M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.09989 | +0.156% | $334K | $503K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.09974 | +0.010% | $318.2M | $1.32B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09969 | −0.040% | $159.5M | $417.0M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09969 | −0.040% | $108.6M | $920.9M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.09990 | +0.170% | $28K | $76K | 10x | as long as short |
| Bulk DOGE-USDshort | +0.0100% | 1h | 0.1017 | +1.997% | $390K | $17K | 10x | |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09975 | +0.020% | $109.3M | $216.5M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09974 | +0.010% | $65.0M | $40.2M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.09973 | 0.000% | — | $74.5M | — | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.1007 | +1.006% | $994K | $7.8M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1002 | +0.521% | $279K | $115.4M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1006 | +0.922% | $634K | $4.5M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1002 | +0.471% | $147K | $244K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.09975 | +0.021% | $268K | $539K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.09969 | −0.040% | $72K | $432K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.09969 | −0.042% | $24K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09984 | +0.109% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.09972 | −0.010% | $2K | $3.6M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09971 | −0.023% | $6.0M | $50.0M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.09966 | −0.070% | $92.3M | $19.1M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0101% | 8h | 0.09986 | +0.132% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09973 | +0.003% | $552K | $3.6M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.09973 | 0.000% | $19K | — | 3x | as long as short |
| Reya DOGERUSDPERP | +0.0176% | 1h | 0.09979 | +0.062% | $2K | — | 20x | as long as short |
| 01 Exchange DOGEUSD | +0.0184% | 1h | 0.09987 | +0.141% | $527 | $4K | 10x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0216% | 1h | 0.09973 | 0.000% | $2.0M | $23.3M | 50x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.09973 | 0.000% | $15.4M | $24.8M | 75x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0246% / S −0.0270% | 1h | 0.09975 | +0.024% | $312K | — | 200x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0365% | 1h | 0.09974 | +0.011% | $5.9M | $32.7M | 50x | as long as short |
| Backpack DOGE_USDC_PERPlong | +0.0383% | 1h | 0.09973 | long leg | $533K | $952K | 15x | |
| Hyperliquid DOGE | +0.0407% | 1h | 0.09979 | +0.058% | $110.1M | $82.4M | 10x | as long as short |
| RISEx DOGE/USDC | +0.0702% | 1h | 0.09990 | +0.175% | $313K | $477K | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.0966% | 1h | 0.1002 | +0.471% | $5K | $207K | 12x | as long as short |
Aster DOGEUSDT
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Arcus DOGE-USD
MEXC DOGE_USDT
KuCoin DOGEUSDTM
BingX DOGE-USDT
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
SoDEX DOGE-USD
HTX DOGE-USDT
Phemex DOGEUSDT
Paradex DOGE-USD-PERP
Extended DOGE-USD
Aevo DOGE-PERP
Reya DOGERUSDPERP
01 Exchange DOGEUSD
Coinbase International DOGE-PERP-INTX
BloFin DOGE-USDT
GMX DOGE/USD [ETH-USDC]
Kraken Futures PF_DOGEUSD
Hyperliquid DOGE
RISEx DOGE/USDC
Injective DOGE/USDC PERP