Funding arb · Price arb /

DOGE

all DOGE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against Bybit+0.040%53s7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$380.375% of the position

Long on Bybit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.061%+$6 on $10k

Price spread, last 4 days (all we have)−0.040%−$4 · spread now +0.040%, 7d avg +0.027%

Together, before fees+0.022%+$2 on $10k · with fees, hour by hour

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	2h 01m	$165.9M	$520.0M	75x
Short	Phemex DOGEUSDT	0.1003	0.0100	get 0.0100% / 8h	2h 01m	$92.1M	$17.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bybit. 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 BybitbpFee PhemexbpOrdersPrice spread, now +0.040%Rate

Funding earned: $0
Price spread: +0.040% → +0.027%: $1.31
Slippage, 4 orders: −$14.51
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$36.19
Costs to cover: 0.375%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; Phemex: 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 Bybit live order book, 3 min ago	0.50 bp	8.5 bp −$8	12.2 bp −$122	22.8 bp −$2,275	44.4 bp −$22.2K
Sell Phemex live order book, 3 min ago	2.00 bp	12.1 bp −$12	18.8 bp −$188	37.3 bp −$3,733	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
Kalshi KXDOGEPERP	0.0000%	8h	0.1001	−0.093%	$598K	$6.5M	2.8x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.1002	−0.052%	$34K	—	150x	as long as short
Kraken Futures PF_DOGEUSD	+0.0002%	1h	0.1003	+0.051%	$5.7M	$40.3M	50x	as long as short
dYdX DOGE-USD	+0.0023%	1h	0.1001	−0.104%	$225K	$69K	10x	as long as short
Polymarket Perps DOGE-USD	+0.0042%	1h	0.1001	−0.120%	$269K	$1.2M	10x	as long as short
Bitget DOGEUSDT	+0.0092%	8h	0.1002	−0.050%	$143.1M	$343.5M	75x	as long as short
Lighter DOGE	+0.0096%	1h	0.1003	+0.041%	$856K	$6.8M	15x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.1002	−0.080%	$541K	$1.1M	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.1002	−0.033%	$4.6M	$58.1M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.1002	−0.031%	$321K	$514K	20x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance DOGEUSDT	+0.0100%	8h	0.1002	−0.015%	$329.9M	$1.70B	75x	as long as short
Bybit DOGEUSDTlong	+0.0100%	8h	0.1002	long leg	$165.9M	$520.0M	75x
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.1003	+0.030%	$118.1M	$1.20B	50x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.1001	−0.129%	$385K	$16K	10x	as long as short
Gate DOGE_USDT	+0.0100%	8h	0.1002	−0.080%	$249.4M	$155.7M	75x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.1002	−0.030%	$112.3M	$257.9M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.1002	−0.080%	$66.5M	$50.0M	75x	as long as short
BingX DOGE-USDC	+0.0100%	8h	0.1002	−0.070%	—	$3.5M	—	as long as short
Backpack DOGE_USDC_PERP	+0.0100%	1h	0.1003	+0.070%	$315K	$1.3M	15x	as long as short
Variational Omni DOGE	+0.0100%	8h	0.1002	−0.052%	$1.1M	$8.7M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.1001	−0.180%	$315K	$140.0M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.1001	−0.175%	$630K	$4.7M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.1002	−0.040%	$150K	$346K	25x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.1003	+0.020%	$64K	$478K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.1003	+0.013%	$19K	$7K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.1002	−0.083%	$35K	$2.3M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.1003	+0.030%	$2K	$5.3M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.1003	+0.031%	$5.9M	$68.5M	75x	as long as short
Phemex DOGEUSDTshort	+0.0100%	8h	0.1003	+0.040%	$92.1M	$17.0M	50x
Paradex DOGE-USD-PERP	+0.0100%	8h	0.1001	−0.108%	$18K	$5K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.1001	−0.145%	$487K	$4.1M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.1003	+0.029%	$19K	—	3x	as long as short
Katana Perps DOGE-USD	+0.0110%	8h	0.1002	−0.070%	$1K	$527K	10x	as long as short
Hyperliquid DOGE	+0.0117%	1h	0.1003	+0.050%	$124.2M	$116.3M	10x	as long as short
Reya DOGERUSDPERP	+0.0196%	1h	0.1002	−0.073%	$2K	—	20x	as long as short
01 Exchange DOGEUSD	+0.0208%	1h	0.1002	−0.020%	$446	$4K	10x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.1002	−0.080%	$16.1M	$27.1M	75x	as long as short
Arcus DOGE-USD	+0.0231%	1h	0.1002	−0.070%	$27K	$300K	10x	as long as short
Phoenix DOGE	+0.0240%	1h	0.1001	−0.101%	$18K	$382K	10x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0250% / S −0.0294%	1h	0.1002	−0.052%	$316K	—	200x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0304%	1h	0.1003	+0.020%	$2.0M	$34.5M	50x	as long as short
Deribit DOGE_USDC-PERPETUAL	+0.0329%	1h	0.1003	+0.054%	$575K	$252K	25x	as long as short
RISEx DOGE/USDC	+0.0686%	1h	0.1002	−0.023%	$405K	$453K	10x	as long as short
Injective DOGE/USDC PERP	+0.1217%	1h	0.1053	+5.048%	$6K	$242K	12x	as long as short