Funding arb · Price arb /

DOGE

all DOGE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0075%/8h= +8.2% APRpaid last 24h +0.009%

Price spread now: Phemex against dYdX+0.013%7-day average +0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$100as in the Funding arb table

Net, price: spread back to 7d avg − costs−$108as in the Price arb table

costs, in and out, $10k−$1071.066% of the position

Long on dYdX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.066%+$7 on $10k

Price spread, last 4 days (all we have)+0.013%+$1 · spread now +0.013%, 7d avg +0.025%

Together, before fees+0.079%+$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.025%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX DOGE-USD	0.1002	0.0025	pay 0.0003% / 1h	5m 27s	$225K	$69K	10x
Short	Phemex DOGEUSDT	0.1002	0.0100	get 0.0100% / 8h	2h 05m	$92.0M	$17.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against dYdX. 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 dYdXbpFee PhemexbpOrdersPrice spread, now +0.013%Rate

Funding earned: $15.73
Price spread: +0.013% → +0.025%: −$1.18
Slippage, 4 orders: −$84.6
Fee dYdX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$92.04
Costs to cover: 1.066%
Break-even: 48.0 days

Slippage from dYdX: live order book, 44 min ago; Phemex: live order book, 4 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 dYdX live order book, 44 min ago	23.51 bp	28.5 bp −$29	59.9 bp −$599	70.4 bp −$7,038	74.6 bp −$37.3K
Sell Phemex live order book, 4 min ago	6.50 bp	16.5 bp −$16	23.5 bp −$235	39.8 bp −$3,980	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	0.1002	+0.092%	$599K	$6.6M	2.8x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.1001	−0.034%	$34K	—	150x	as long as short
Kraken Futures PF_DOGEUSD	+0.0002%	1h	0.1002	+0.024%	$5.7M	$40.2M	50x	as long as short
dYdX DOGE-USDlong	+0.0025%	1h	0.1002	long leg	$225K	$69K	10x
Polymarket Perps DOGE-USD	+0.0040%	1h	0.1000	−0.117%	$269K	$1.2M	10x	as long as short
Lighter DOGE	+0.0096%	1h	0.1003	+0.104%	$856K	$6.8M	15x	as long as short
Bitget DOGEUSDT	+0.0097%	8h	0.1000	−0.137%	$142.9M	$343.2M	75x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.1001	−0.012%	$540K	$1.1M	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.1001	−0.017%	$4.4M	$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	0.1001	−0.037%	$329.0M	$1.70B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.1001	−0.067%	$165.7M	$519.7M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.1001	−0.027%	$117.7M	$1.19B	50x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.09955	−0.608%	$382K	$16K	10x	as long as short
Gate DOGE_USDT	+0.0100%	8h	0.1001	−0.047%	$248.4M	$155.2M	75x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.1001	−0.057%	$112.1M	$257.4M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.1001	−0.037%	$66.5M	$49.9M	75x	as long as short
BingX DOGE-USDT	+0.0100%	8h	0.1001	−0.017%	—	$80.7M	—	as long as short
Backpack DOGE_USDC_PERP	+0.0100%	1h	0.1002	+0.073%	$315K	$1.3M	15x	as long as short
Variational Omni DOGE	+0.0100%	8h	0.1002	+0.031%	$1.1M	$8.7M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.1001	−0.019%	$314K	$139.8M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.1002	+0.003%	$638K	$4.7M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.1002	+0.043%	$150K	$346K	25x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.1002	+0.073%	$64K	$478K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.1002	+0.063%	$19K	$7K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.1002	+0.090%	$35K	$2.3M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.1002	+0.063%	$2K	$5.3M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.1002	+0.091%	$5.9M	$68.5M	75x	as long as short
Phemex DOGEUSDTshort	+0.0100%	8h	0.1002	+0.013%	$92.0M	$17.0M	50x
Paradex DOGE-USD-PERP	+0.0100%	8h	0.1001	−0.023%	$18K	$5K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.1001	−0.060%	$487K	$4.1M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.1002	+0.083%	$19K	—	3x	as long as short
Katana Perps DOGE-USD	+0.0110%	8h	0.1001	−0.057%	$1K	$527K	10x	as long as short
Hyperliquid DOGE	+0.0113%	1h	0.1002	+0.033%	$124.1M	$116.2M	10x	as long as short
Reya DOGERUSDPERP	+0.0195%	1h	0.1001	−0.074%	$2K	—	20x	as long as short
01 Exchange DOGEUSD	+0.0200%	1h	0.1002	+0.008%	$445	$4K	10x	as long as short
Deribit DOGE_USDC-PERPETUAL	+0.0209%	1h	0.1003	+0.103%	$575K	$252K	25x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.1001	−0.027%	$15.9M	$27.1M	75x	as long as short
Arcus DOGE-USD	+0.0231%	1h	0.1001	−0.037%	$27K	$300K	10x	as long as short
Phoenix DOGE	+0.0240%	1h	0.1000	−0.136%	$18K	$382K	10x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0250% / S −0.0294%	1h	0.1001	−0.026%	$316K	—	200x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0304%	1h	0.1002	+0.043%	$2.0M	$34.5M	50x	as long as short
RISEx DOGE/USDC	+0.0686%	1h	0.1002	+0.020%	$405K	$453K	10x	as long as short
Injective DOGE/USDC PERP	+0.1217%	1h	0.1053	+5.135%	$6K	$242K	12x	as long as short