Funding you earn now, next payment 23:00 UTC+0.0282%/8h= +30.9% APRnext payment +$0.35 per $10,000 · paid last 24h +0.021%
Price spread now: Backpack against Bulk+0.194%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−$7as 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)−0.189%−$19 · spread now +0.194%, 7d avg −0.021%
=Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Backpack is 0.215% dearer against Bulk than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of −0.021%.
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 | Bulk DOGE-USD | 0.09966 | 0.0100 | pay 0.0013% / 1h | 30m 10s | $382K | $14K | 10x |
| Short | Backpack DOGE_USDC_PERP | 0.09985 | 0.0382 | get 0.0048% / 1h | 30m 10s | $533K | $953K | 15x |
Bulk DOGE-USD
Backpack DOGE_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Bulk. 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
- $59.17
- Price spread: +0.194% → −0.021%
- $21.51
- Slippage, 4 orders
- −$11.45
- Fee Bulk: 3.5 bp × 2 orders
- −$7
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $52.23
- Costs to cover
- 0.285%
- Break-even
- 0.8 days
Slippage from Bulk: live order book, 54 min ago; Backpack: live order book, 54 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 Bulk live order book, 54 min ago | 5.02 bp | 8.5 bp −$9 | 15.1 bp −$151 | 20.5 bp −$2,049 | 31.6 bp −$15.8K |
| Sell Backpack live order book, 54 min ago | 0.50 bp | 5.9 bp −$6 | 12.3 bp −$123 | 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 | −0.0268% | 8h | 0.09970 | +0.043% | $152.2M | $265.8M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.09982 | +0.162% | $415K | $4.7M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S −0.0001% | 1h | 0.09977 | +0.115% | $32K | — | 150x | as long as short |
| dYdX DOGE-USD | +0.0008% | 1h | 0.09973 | +0.075% | $224K | $44K | 10x | as long as short |
| Phoenix DOGE | +0.0081% | 1h | 0.1003 | +0.691% | $19K | $222K | 10x | as long as short |
| Gate DOGE_USDT | +0.0089% | 8h | 0.09974 | +0.083% | $239.7M | $123.4M | 75x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.09986 | +0.201% | $781K | $5.4M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0096% | 8h | 0.09971 | +0.053% | $2K | $366K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.09970 | +0.043% | $567K | $851K | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.09975 | +0.090% | $5.1M | $43.2M | 75x | as long as short |
Bitget DOGEUSDT
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
dYdX DOGE-USD
Phoenix DOGE
Gate DOGE_USDT
Lighter DOGE
Katana Perps DOGE-USD
Nado DOGE-PERP
Aster DOGEUSDTShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica DOGE | +0.0100% | 1h | 0.09975 | +0.088% | $334K | $503K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.09981 | +0.155% | $318.4M | $1.32B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09976 | +0.103% | $159.6M | $417.3M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09979 | +0.133% | $108.7M | $922.1M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.09976 | +0.103% | $28K | $76K | 10x | as long as short |
| Bulk DOGE-USDlong | +0.0100% | 1h | 0.09966 | long leg | $382K | $14K | 10x | |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09979 | +0.133% | $109.3M | $216.6M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09979 | +0.133% | $65.0M | $40.2M | 75x | as long as short |
| BingX DOGE-USDC | +0.0100% | 8h | 0.09973 | +0.073% | — | $3.4M | — | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.09974 | +0.086% | $947K | $8.0M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1002 | +0.594% | $279K | $115.4M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1006 | +0.996% | $634K | $4.5M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1002 | +0.545% | $147K | $244K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.09970 | +0.042% | $266K | $540K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.09979 | +0.133% | $73K | $432K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.09979 | +0.132% | $24K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09985 | +0.192% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.09982 | +0.164% | $2K | $3.6M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09980 | +0.146% | $6.0M | $50.0M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.09979 | +0.133% | $92.4M | $19.1M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0101% | 8h | 0.09975 | +0.094% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09978 | +0.126% | $552K | $3.6M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.09982 | +0.164% | $19K | — | 3x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0161% | 1h | 0.09984 | +0.182% | $604K | $109K | 25x | as long as short |
| Reya DOGERUSDPERP | +0.0176% | 1h | 0.09973 | +0.075% | $2K | — | 20x | as long as short |
| 01 Exchange DOGEUSD | +0.0184% | 1h | 0.09977 | +0.112% | $527 | $4K | 10x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0216% | 1h | 0.09984 | +0.184% | $2.0M | $23.4M | 50x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.09973 | +0.073% | $15.4M | $24.8M | 75x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0246% / S −0.0270% | 1h | 0.09978 | +0.120% | $312K | — | 200x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0365% | 1h | 0.09982 | +0.165% | $5.9M | $32.7M | 50x | as long as short |
| Backpack DOGE_USDC_PERPshort | +0.0382% | 1h | 0.09985 | +0.194% | $533K | $953K | 15x | |
| Hyperliquid DOGE | +0.0407% | 1h | 0.09982 | +0.163% | $110.1M | $82.4M | 10x | as long as short |
| RISEx DOGE/USDC | +0.0702% | 1h | 0.09979 | +0.135% | $313K | $477K | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.0966% | 1h | 0.1002 | +0.545% | $5K | $207K | 12x | as long as short |
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Arcus DOGE-USD
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
Paradex DOGE-USD-PERP
Extended DOGE-USD
Aevo DOGE-PERP
Deribit DOGE_USDC-PERPETUAL
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