Funding you earn now, next payment 01:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.057%
Price spread now: Kalshi against Backpack+0.033%7-day average −0.019% · you sell dearer than you buy
Net, funding: paid 7d − costs−$62as in the Funding arb table
Net, price: spread back to 7d avg − costs−$35as in the Price arb table
costs, in and out, $10k−$410.407% of the position
Funding, last 7 days−0.216%−$22 on $10k
+Price spread, last 4 days (all we have)+0.010%+$1 · spread now +0.033%, 7d avg −0.019%
=The price spread pays, funding is against you. Kalshi is 0.052% dearer against Backpack than usual: you sell high and buy low (spread +0.033% now, against its 7-day average of −0.019%): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 41 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack DOGE_USDC_PERP | 0.1008 | 0.0100 | pay 0.0013% / 1h | 26m 22s | $365K | $1.1M | 15x |
| Short | Kalshi KXDOGEPERP | 0.1008 | 0 | get 0.0000% / 8h | 3h 26m | $408K | $4.8M | 2.8x |
Backpack DOGE_USDC_PERP
Kalshi KXDOGEPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kalshi 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
- −$21
- Price spread: +0.033% → −0.019%
- $5.16
- Slippage, 4 orders
- −$20.66
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Net
- −$56.49
- Costs to cover
- 0.407%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 3 min ago; Kalshi: 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 Backpack live order book, 3 min ago | 0.50 bp | 5.5 bp −$5 | 12.2 bp −$122 | doesn't fit | doesn't fit |
| Sell Kalshi live order book, 2 min ago | 7.93 bp | 13.0 bp −$13 | 20.7 bp −$207 | 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 | −0.0180% | 8h | 0.1010 | +0.218% | $153.4M | $270.9M | 75x | as long as short |
| Phemex DOGEUSDT | −0.0173% | 8h | 0.1008 | −0.020% | $93.0M | $17.8M | 50x | as long as short |
| Kraken Futures PF_DOGEUSD | −0.0077% | 1h | 0.1007 | −0.034% | $6.1M | $33.9M | 50x | as long as short |
| Kalshi KXDOGEPERPshort | 0.0000% | 8h | 0.1008 | +0.033% | $408K | $4.8M | 2.8x | |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.1011 | +0.277% | $24K | — | 150x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0008% | 1h | 0.1008 | +0.056% | $606K | $121K | 25x | as long as short |
| dYdX DOGE-USD | +0.0017% | 1h | 0.1011 | +0.356% | $227K | $44K | 10x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.1011 | +0.346% | $790K | $5.8M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0100% | 8h | 0.1011 | +0.298% | $1K | $412K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1011 | +0.303% | $518K | $971K | 10x | as long as short |
Bitget DOGEUSDT
Phemex DOGEUSDT
Kraken Futures PF_DOGEUSD
gTrade (Gains Network) DOGE/USD
Deribit DOGE_USDC-PERPETUAL
dYdX DOGE-USD
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 | 0.1011 | +0.302% | $5.0M | $46.4M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.1011 | +0.343% | $337K | $516K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.1011 | +0.318% | $321.4M | $1.40B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.1011 | +0.298% | $160.5M | $437.9M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1011 | +0.288% | $111.0M | $973.7M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.1012 | +0.377% | $28K | $82K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.1007 | −0.077% | $386K | $5K | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.1010 | +0.258% | $245.5M | $129.4M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1011 | +0.288% | $114.1M | $224.6M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1011 | +0.327% | $66.3M | $42.6M | 75x | as long as short |
| BingX DOGE-USDC | +0.0100% | 8h | 0.1010 | +0.248% | — | $3.4M | — | as long as short |
| Backpack DOGE_USDC_PERPlong | +0.0100% | 1h | 0.1008 | long leg | $365K | $1.1M | 15x | |
| Variational Omni DOGE | +0.0100% | 8h | 0.1010 | +0.266% | $1.0M | $8.1M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1009 | +0.124% | $265K | $123.6M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1011 | +0.298% | $634K | $4.5M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1009 | +0.119% | $149K | $268K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.1010 | +0.238% | $276K | $620K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.1011 | +0.288% | $73K | $424K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1011 | +0.277% | $25K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1009 | +0.104% | $36K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1008 | +0.020% | $2K | $3.8M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1007 | −0.068% | $6.0M | $52.7M | 75x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.1012 | +0.380% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1011 | +0.290% | $532K | $3.9M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1011 | +0.282% | $19K | — | 3x | as long as short |
| Reya DOGERUSDPERP | +0.0182% | 1h | 0.1010 | +0.247% | $2K | — | 20x | as long as short |
| 01 Exchange DOGEUSD | +0.0192% | 1h | 0.1011 | +0.350% | $534 | $4K | 10x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.1008 | 0.000% | $15.5M | $25.7M | 75x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0240% | 1h | 0.1009 | +0.099% | $2.0M | $25.0M | 50x | as long as short |
| Phoenix DOGE | +0.0240% | 1h | 0.1010 | +0.235% | $66K | $283K | 10x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0245% / S −0.0263% | 1h | 0.1011 | +0.288% | $311K | — | 200x | as long as short |
| RISEx DOGE/USDC | +0.0701% | 1h | 0.1012 | +0.367% | $327K | $480K | 10x | as long as short |
| Hyperliquid DOGE | +0.0837% | 1h | 0.1012 | +0.407% | $123.2M | $94.7M | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.0973% | 1h | 0.1011 | +0.318% | $5K | $239K | 12x | as long as short |
Aster DOGEUSDT
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Arcus DOGE-USD
Bulk DOGE-USD
Gate DOGE_USDT
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
SoDEX DOGE-USD
HTX DOGE-USDT
Paradex DOGE-USD-PERP
Extended DOGE-USD
Aevo DOGE-PERP
Reya DOGERUSDPERP
01 Exchange DOGEUSD
BloFin DOGE-USDT
Coinbase International DOGE-PERP-INTX
Phoenix DOGE
GMX DOGE/USD [ETH-USDC]
RISEx DOGE/USDC
Hyperliquid DOGE
Injective DOGE/USDC PERP