Funding you earn now, next payment 23:00 UTC+0.0291%/8h= +31.9% APRpaid last 24h +0.021%
Price spread now: Backpack against Bybit+0.100%7-day average +0.001% · you sell dearer than you buy
Net, funding: paid 7d − costs−$14as in the Funding arb table
Net, price: spread back to 7d avg − costs−$15as in the Price arb table
costs, in and out, $10k−$250.246% of the position
Funding, last 7 days+0.106%+$11 on $10k
+Price spread, last 4 days (all we have)−0.206%−$21 · spread now +0.100%, 7d avg +0.001%
=Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Backpack is 0.099% dearer against Bybit than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.001%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.106% in total (about 5.5% 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 | Bybit DOGEUSDT | 0.1002 | 0.0100 | pay 0.0100% / 8h | 1h 26m | $160.1M | $418.4M | 75x |
| Short | Backpack DOGE_USDC_PERP | 0.1003 | 0.0391 | get 0.0049% / 1h | 26m 38s | $536K | $954K | 15x |
Bybit DOGEUSDT
Backpack DOGE_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Bybit. 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
- $61.16
- Price spread: +0.100% → +0.001%
- $9.86
- Slippage, 4 orders
- −$3.57
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $46.46
- Costs to cover
- 0.246%
- Break-even
- 1.7 days
Slippage from Bybit: live order book, 2 min ago; Backpack: 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 Bybit live order book, 2 min ago | 0.50 bp | 7.2 bp −$7 | 10.0 bp −$100 | 21.0 bp −$2,096 | 38.7 bp −$19.3K |
| Sell Backpack live order book, 57 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 | −0.0265% | 8h | 0.1000 | −0.160% | $152.7M | $266.0M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.1002 | +0.013% | $417K | $4.7M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S −0.0001% | 1h | 0.1002 | −0.016% | $32K | — | 150x | as long as short |
| dYdX DOGE-USD | +0.0007% | 1h | 0.1000 | −0.128% | $225K | $44K | 10x | as long as short |
| Phoenix DOGE | +0.0081% | 1h | 0.09976 | −0.410% | $66K | $222K | 10x | as long as short |
| Gate DOGE_USDT | +0.0093% | 8h | 0.1000 | −0.130% | $240.6M | $123.8M | 75x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.1001 | −0.031% | $785K | $5.4M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0097% | 8h | 0.1002 | −0.010% | $839 | $369K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1001 | −0.055% | $570K | $853K | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.1001 | −0.047% | $4.9M | $43.5M | 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 | 0.1002 | −0.020% | $334K | $508K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.1002 | +0.050% | $319.3M | $1.32B | 75x | as long as short |
| Bybit DOGEUSDTlong | +0.0100% | 8h | 0.1002 | long leg | $160.1M | $418.4M | 75x | |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1001 | −0.080% | $109.2M | $926.5M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.1002 | +0.020% | $28K | $76K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09966 | −0.512% | $382K | $14K | 10x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1001 | −0.120% | $110.6M | $217.1M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1002 | −0.020% | $65.9M | $40.9M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.1001 | −0.100% | — | $74.6M | — | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.09974 | −0.427% | $947K | $8.0M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1000 | −0.158% | $276K | $115.8M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1001 | −0.029% | $630K | $4.5M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1000 | −0.170% | $146K | $244K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.1001 | −0.040% | $267K | $540K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.1003 | +0.080% | $73K | $432K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1002 | +0.079% | $25K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1002 | +0.078% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1002 | +0.040% | $2K | $3.6M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1003 | +0.114% | $6.0M | $50.2M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.1002 | +0.040% | $92.8M | $19.1M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0101% | 8h | 0.1001 | −0.100% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1001 | −0.102% | $555K | $3.6M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1003 | +0.110% | $19K | — | 3x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0119% | 1h | 0.1003 | +0.109% | $607K | $109K | 25x | as long as short |
| Reya DOGERUSDPERP | +0.0176% | 1h | 0.1001 | −0.079% | $2K | — | 20x | as long as short |
| 01 Exchange DOGEUSD | +0.0184% | 1h | 0.1002 | +0.023% | $529 | $4K | 10x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0216% | 1h | 0.1003 | +0.160% | $2.0M | $23.5M | 50x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.1002 | +0.050% | $15.5M | $24.9M | 75x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0246% / S −0.0270% | 1h | 0.1002 | −0.020% | $313K | — | 200x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0364% | 1h | 0.1002 | +0.052% | $6.0M | $32.7M | 50x | as long as short |
| Backpack DOGE_USDC_PERPshort | +0.0391% | 1h | 0.1003 | +0.100% | $536K | $954K | 15x | |
| Hyperliquid DOGE | +0.0420% | 1h | 0.1003 | +0.100% | $110.7M | $82.6M | 10x | as long as short |
| RISEx DOGE/USDC | +0.0702% | 1h | 0.1002 | +0.010% | $314K | $476K | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.0966% | 1h | 0.1003 | +0.130% | $5K | $207K | 12x | as long as short |
Pacifica DOGE
Binance 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
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