Funding you earn now, next payment 03:00 UTC+0.0205%/8h= +22.5% APRnext payment +$0.26 per $10,000 · paid last 24h +0.004%
Price spread now: Kraken Futures against Backpack+0.106%7-day average +0.017% · you sell dearer than you buy
Net, funding: paid 7d − costs−$36as in the Funding arb table
Net, price: spread back to 7d avg − costs−$26as in the Price arb table
costs, in and out, $10k−$350.350% of the position
Funding, last 7 days−0.007%−$1 on $10k
+Price spread, last 3 days (all we have)−0.059%−$6 · spread now +0.106%, 7d avg +0.017%
=Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Kraken Futures is 0.088% dearer against Backpack than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.017%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.007% in total (about -0.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.26 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 | 0.1001 | 0.0100 | pay 0.0013% / 1h | 55m 37s | $335K | $1.1M | 15x |
| Short | Kraken Futures PF_DOGEUSD | 0.1002 | 0.0305 | get 0.0038% / 1h | 55m 37s | $5.8M | $34.7M | 50x |
Backpack DOGE_USDC_PERP
Kraken Futures PF_DOGEUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- $43.1
- Price spread: +0.106% → +0.017%
- $8.84
- Slippage, 4 orders
- −$14.99
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $16.95
- Costs to cover
- 0.350%
- Break-even
- 4.2 days
Slippage from Backpack: live order book, 3 min ago; Kraken Futures: live order book, 3 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 | 5.8 bp −$6 | 13.8 bp −$138 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 3 min ago | 2.51 bp | 9.9 bp −$10 | 13.4 bp −$134 | 33.8 bp −$3,377 | doesn't fit |
DOGE on 43 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 | −0.0091% | 8h | 0.09983 | −0.240% | $151.1M | $273.2M | 75x | as long as short |
| dYdX DOGE-USD | 0.0000% | 1h | 0.09988 | −0.190% | $224K | $49K | 10x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.1002 | +0.142% | $395K | $5.0M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.1001 | +0.063% | $24K | — | 150x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0089% | 1h | 0.1002 | +0.151% | $599K | $118K | 25x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.09996 | −0.107% | $812K | $6.1M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0099% | 8h | 0.09982 | −0.250% | $834 | $430K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1003 | +0.195% | $535K | $988K | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.1000 | −0.067% | $4.7M | $48.1M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.09993 | −0.138% | $328K | $482K | 20x | as long as short |
Bitget DOGEUSDT
dYdX DOGE-USD
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
Deribit DOGE_USDC-PERPETUAL
Lighter DOGE
Katana Perps DOGE-USD
Nado DOGE-PERP
Aster DOGEUSDT
Pacifica DOGEShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance DOGEUSDT | +0.0100% | 8h | 0.09987 | −0.204% | $318.5M | $1.43B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09982 | −0.250% | $159.8M | $437.2M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09982 | −0.250% | $111.2M | $981.5M | 50x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09990 | −0.170% | $383K | $5K | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.09990 | −0.170% | $242.5M | $130.9M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09990 | −0.170% | $113.8M | $228.4M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09989 | −0.180% | $66.1M | $43.1M | 75x | as long as short |
| BingX DOGE-USDC | +0.0100% | 8h | 0.09990 | −0.170% | — | $3.5M | — | as long as short |
| Backpack DOGE_USDC_PERPlong | +0.0100% | 1h | 0.1001 | long leg | $335K | $1.1M | 15x | |
| Variational Omni DOGE | +0.0100% | 8h | 0.1002 | +0.178% | $998K | $8.2M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.09950 | −0.570% | $292K | $128.6M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.09953 | −0.539% | $625K | $4.4M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.09950 | −0.570% | $146K | $274K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.1003 | +0.220% | $267K | $709K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.1002 | +0.160% | $70K | $440K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1002 | +0.173% | $25K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1004 | +0.325% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1002 | +0.130% | $2K | $3.8M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1001 | +0.004% | $6.0M | $55.7M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.1001 | +0.010% | $92.2M | $16.8M | 50x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09989 | −0.184% | $561K | $4.0M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1002 | +0.147% | $19K | — | 3x | as long as short |
| Paradex DOGE-USD-PERP | +0.0106% | 8h | 0.09995 | −0.123% | $18K | $6K | 30x | as long as short |
| Reya DOGERUSDPERP | +0.0185% | 1h | 0.1003 | +0.197% | $2K | — | 20x | as long as short |
| Phoenix DOGE | +0.0241% | 1h | 0.09951 | −0.561% | $65K | $288K | 10x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0246% / S −0.0267% | 1h | 0.1002 | +0.157% | $312K | — | 200x | as long as short |
| 01 Exchange DOGEUSD | +0.0248% | 1h | 0.09992 | −0.149% | $533 | $4K | 10x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0248% | 1h | 0.1003 | +0.230% | $2.3M | $25.9M | 50x | as long as short |
| Kraken Futures PF_DOGEUSDshort | +0.0305% | 1h | 0.1002 | +0.106% | $5.8M | $34.7M | 50x | |
| Hyperliquid DOGE | +0.0456% | 1h | 0.1001 | −0.010% | $121.7M | $99.7M | 10x | as long as short |
| RISEx DOGE/USDC | +0.0747% | 1h | 0.09996 | −0.110% | $402K | $367K | 10x | as long as short |
| Arcus DOGE-USD | +0.0781% | 1h | 0.1000 | −0.040% | $129K | $179K | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1072% | 1h | 0.09970 | −0.370% | $5K | $239K | 12x | as long as short |
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
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
Phemex DOGEUSDT
Extended DOGE-USD
Aevo DOGE-PERP
Paradex DOGE-USD-PERP
Reya DOGERUSDPERP
Phoenix DOGE
GMX DOGE/USD [ETH-USDC]
01 Exchange DOGEUSD
Coinbase International DOGE-PERP-INTX
Hyperliquid DOGE
RISEx DOGE/USDC
Arcus DOGE-USD
Injective DOGE/USDC PERP