Funding arb · Price arb /

DOGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.012%

Price spread now: Deribit against BingX+0.087%7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$300.302% of the position

Long on BingX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.156%−$16 on $10k

Price spread, last 4 days (all we have)−0.078%−$8 · spread now +0.087%, 7d avg +0.013%

Together, before fees−0.233%−$23 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.074% dearer against BingX than usual: you sell high and buy low (spread +0.087% now, against its 7-day average of +0.013%): +$7 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX DOGE-USDT	0.09843	0.0100	pay 0.0100% / 8h	5h 54m	—	$46.0M	—
Short	Deribit DOGE_USDC-PERPETUAL	0.09852	0	get 0.0000% / 1h	54m 39s	$551K	$293K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BingX. 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 BingXbpFee DeribitbpOrdersPrice spread, now +0.087%Rate

Funding earned: −$21
Price spread: +0.087% → +0.013%: $7.44
Slippage, 4 orders: −$13.16
Fee BingX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$43.71
Costs to cover: 0.302%
Break-even: never at this rate

Slippage from BingX: live order book, 2 min ago; Deribit: live order book, 57 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 BingX live order book, 2 min ago	1.01 bp	6.0 bp −$6	7.6 bp −$76	12.8 bp −$1,283	29.2 bp −$14.6K
Sell Deribit live order book, 57 min ago	4.05 bp	7.6 bp −$8	13.5 bp −$135	doesn't fit	doesn't fit

DOGE on 43 exchanges

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
Kraken Futures PF_DOGEUSD	−0.0139%	1h	0.09850	+0.069%	$5.3M	$39.7M	50x	as long as short
Bitget DOGEUSDT	−0.0038%	8h	0.09838	−0.051%	$139.3M	$305.3M	75x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.09853	+0.106%	$526K	$6.3M	2.8x	as long as short
Deribit DOGE_USDC-PERPETUALshort	0.0000%	1h	0.09852	+0.087%	$551K	$293K	25x
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.09859	+0.159%	$33K	—	150x	as long as short
Bybit DOGEUSDT	+0.0023%	8h	0.09840	−0.030%	$165.9M	$494.5M	75x	as long as short
Injective DOGE/USDC PERP	+0.0033%	1h	0.1053	+6.980%	$6K	$240K	12x	as long as short
Gate DOGE_USDT	+0.0036%	8h	0.09841	−0.020%	$253.2M	$143.7M	75x	as long as short
Lighter DOGE	+0.0096%	1h	0.09854	+0.112%	$814K	$6.4M	15x	as long as short
Katana Perps DOGE-USD	+0.0100%	8h	0.09843	0.000%	$942	$542K	10x	as long as short

Show all 43 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado DOGE-PERP	+0.0100%	1h	0.09845	+0.020%	$509K	$1.1M	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.09848	+0.056%	$4.9M	$57.2M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.09850	+0.071%	$315K	$457K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.09848	+0.055%	$325.8M	$1.60B	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.09845	+0.020%	$118.3M	$1.10B	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.09848	+0.051%	$16K	$308K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.09860	+0.173%	$376K	$2K	10x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.09845	+0.020%	$113.6M	$247.4M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.09850	+0.071%	$65.1M	$45.5M	75x	as long as short
BingX DOGE-USDTlong	+0.0100%	8h	0.09843	long leg	—	$46.0M	—
Backpack DOGE_USDC_PERP	+0.0100%	1h	0.09850	+0.071%	$314K	$1.2M	15x	as long as short
Variational Omni DOGE	+0.0100%	8h	0.09847	+0.041%	$1.3M	$7.8M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.09857	+0.144%	$266K	$131.9M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.09861	+0.183%	$621K	$3.8M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.09870	+0.274%	$139K	$344K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.09843	+0.003%	$243K	$1.2M	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.09852	+0.091%	$68K	$414K	50x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.09856	+0.131%	$35K	$1.9M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.09849	+0.061%	$2K	$5.4M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.09854	+0.117%	$5.9M	$64.9M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.09849	+0.061%	$89.8M	$15.4M	50x	as long as short
Paradex DOGE-USD-PERP	+0.0100%	8h	0.09843	−0.004%	$18K	$5K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.09838	−0.053%	$482K	$3.7M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.09850	+0.068%	$19K	—	3x	as long as short
Hyperliquid DOGE	+0.0134%	1h	0.09854	+0.116%	$122.3M	$107.9M	10x	as long as short
01 Exchange DOGEUSD	+0.0144%	1h	0.09850	+0.072%	$453	$4K	10x	as long as short
Phoenix DOGE	+0.0161%	1h	0.09864	+0.215%	$18K	$311K	10x	as long as short
Reya DOGERUSDPERP	+0.0206%	1h	0.09845	+0.020%	$2K	—	20x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0211% / S −0.0184%	1h	0.09846	+0.033%	$285K	—	200x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.09849	+0.061%	$15.4M	$25.7M	75x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0264%	1h	0.09853	+0.102%	$2.2M	$33.0M	50x	as long as short
RISEx DOGE/USDC	+0.0587%	1h	0.09849	+0.065%	$409K	$412K	10x	as long as short
dYdX DOGE-USD	+0.0695%	1h	0.09847	+0.043%	$231K	$75K	10x	as long as short