Funding you earn now, next payment 23:00 UTC−0.0317%/8h= −34.7% APRpaid last 24h −0.021%
Price spread now: Katana Perps against Backpack−0.169%7-day average +0.002% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.041%−$4 on $10k
+Price spread, last 4 days (all we have)+0.207%+$21 · spread now −0.169%, 7d avg +0.002%
=Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Katana Perps is 0.171% cheaper against Backpack than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of +0.002%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.041% in total (about -4.1% a year). A funding rate is set anew for every payment. 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 | 0.1008 | 0.0414 | pay 0.0052% / 1h | 14m 36s | $538K | $956K | 15x |
| Short | Katana Perps DOGE-USD | 0.1006 | 0.0097 | get 0.0097% / 8h | 1h 14m | $1K | $370K | 10x |
Backpack DOGE_USDC_PERP
Katana Perps DOGE-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Katana Perps 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
- −$66.55
- Price spread: −0.169% → +0.002%
- −$17.06
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Katana Perps: 1.9 bp × 2 orders
- −$3.8
- Net
- −$97.42
- Costs to cover
- 0.138%
- Break-even
- never at this rate
Slippage unknown: Backpack: live order book, 4 min ago; Katana Perps: no order-book sample. Net counts fees only.
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, 4 min ago | 0.50 bp | 6.1 bp −$6 | 351.6 bp −$3,516 | doesn't fit | doesn't fit |
| Sell Katana Perps no order-book sample | — | — | — | — | — |
Katana Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.0260% | 8h | 0.1005 | −0.278% | $153.5M | $266.6M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.1007 | −0.090% | $420K | $4.7M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S −0.0001% | 1h | 0.1005 | −0.323% | $32K | — | 150x | as long as short |
| dYdX DOGE-USD | +0.0022% | 1h | 0.1008 | −0.035% | $226K | $44K | 10x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0079% | 1h | 0.1005 | −0.326% | $608K | $109K | 25x | as long as short |
| Phoenix DOGE | +0.0081% | 1h | 0.1005 | −0.289% | $66K | $222K | 10x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.1008 | +0.040% | $793K | $5.4M | 15x | as long as short |
| Katana Perps DOGE-USDshort | +0.0097% | 8h | 0.1006 | −0.169% | $1K | $370K | 10x | |
| Gate DOGE_USDT | +0.0097% | 8h | 0.1007 | −0.119% | $242.6M | $124.8M | 75x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1006 | −0.238% | $571K | $862K | 10x | as long as short |
Bitget DOGEUSDT
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
dYdX DOGE-USD
Deribit DOGE_USDC-PERPETUAL
Phoenix DOGE
Lighter DOGE
Gate DOGE_USDT
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 | 0.1008 | −0.046% | $5.0M | $44.0M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.1008 | +0.010% | $336K | $509K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.1006 | −0.206% | $320.2M | $1.33B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.1005 | −0.268% | $159.3M | $421.9M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1006 | −0.218% | $109.6M | $934.1M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.1007 | −0.139% | $28K | $76K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.1006 | −0.176% | $386K | $14K | 10x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1008 | −0.010% | $112.4M | $217.8M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1008 | +0.010% | $66.3M | $41.0M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.1006 | −0.169% | — | $74.8M | — | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.1004 | −0.375% | $1.0M | $8.1M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1004 | −0.377% | $275K | $116.6M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1004 | −0.367% | $632K | $4.6M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1005 | −0.298% | $147K | $245K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.1006 | −0.248% | $268K | $542K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.1005 | −0.317% | $73K | $432K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1005 | −0.327% | $25K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1005 | −0.290% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1006 | −0.228% | $2K | $3.6M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1007 | −0.058% | $6.0M | $50.4M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.1007 | −0.119% | $93.3M | $19.2M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.1007 | −0.079% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1007 | −0.110% | $557K | $3.6M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1005 | −0.326% | $19K | — | 3x | as long as short |
| Reya DOGERUSDPERP | +0.0177% | 1h | 0.1006 | −0.233% | $2K | — | 20x | as long as short |
| 01 Exchange DOGEUSD | +0.0184% | 1h | 0.1007 | −0.143% | $531 | $4K | 10x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0216% | 1h | 0.1006 | −0.198% | $2.0M | $23.7M | 50x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.1006 | −0.228% | $15.4M | $25.1M | 75x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0248% / S −0.0198% | 1h | 0.1005 | −0.329% | $366K | — | 200x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0362% | 1h | 0.1006 | −0.203% | $6.0M | $32.8M | 50x | as long as short |
| Backpack DOGE_USDC_PERPlong | +0.0414% | 1h | 0.1008 | long leg | $538K | $956K | 15x | |
| Hyperliquid DOGE | +0.0477% | 1h | 0.1010 | +0.192% | $115.0M | $84.8M | 10x | as long as short |
| RISEx DOGE/USDC | +0.0702% | 1h | 0.1007 | −0.123% | $315K | $476K | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.0966% | 1h | 0.1005 | −0.298% | $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
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