Funding you earn now, next payment 06:00 UTC+0.0080%/8h= +8.7% APRnext payment +$0.10 per $10,000 · paid last 24h +0.017%
Price spread now: Phoenix against dYdX+0.403%46s7-day average +0.056% · you sell dearer than you buy
Net, funding: paid 7d − costs−$112as 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−$1011.008% of the position
Funding, last 7 days−0.108%−$11 on $10k
+Price spread, last 4 days (all we have)−0.256%−$26 · spread now +0.403%, 7d avg +0.056%
=Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Phoenix is 0.347% dearer against dYdX than usual: you sell high and buy low: +$35 more if the spread goes back to its 7-day average of +0.056%. Mind the row above: over the last 7 days funding on this pair cost −0.108%, so the current rate has only just turned in your favour. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | dYdX DOGE-USD | 0.09978 | 0 | get 0.0000% / 1h | 46m 37s | $224K | $69K | 10x |
| Short | Phoenix DOGE | 0.1002 | 0.0080 | get 0.0010% / 1h | 46m 37s | $18K | $382K | 10x |
dYdX DOGE-USD
Phoenix DOGEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against dYdX. 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
- $16.78
- Price spread: +0.403% → +0.056%
- $34.73
- Slippage, 4 orders
- −$83.79
- Fee dYdX: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$49.29
- Costs to cover
- 1.008%
- Break-even
- 27.6 days
Slippage from dYdX: live order book, 62 min ago; Phoenix: live order book, 56 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, 62 min ago | 23.51 bp | 28.5 bp −$29 | 59.9 bp −$599 | 70.4 bp −$7,038 | 74.6 bp −$37.3K |
| Sell Phoenix live order book, 56 min ago | 1.00 bp | 12.4 bp −$12 | 43.1 bp −$431 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_DOGEUSD | −0.0083% | 1h | 0.09975 | −0.030% | $5.7M | $40.5M | 50x | as long as short |
| Polymarket Perps DOGE-USD | −0.0007% | 1h | 0.09974 | −0.036% | $266K | $1.2M | 10x | as long as short |
| dYdX DOGE-USDlong | 0.0000% | 1h | 0.09978 | long leg | $224K | $69K | 10x | |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.09974 | −0.037% | $600K | $6.6M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.09975 | −0.025% | $34K | — | 150x | as long as short |
| Injective DOGE/USDC PERP | +0.0033% | 1h | 0.1053 | +5.534% | $6K | $242K | 12x | as long as short |
| Bitget DOGEUSDT | +0.0078% | 8h | 0.09969 | −0.089% | $142.2M | $344.4M | 75x | as long as short |
| Phoenix DOGEshort | +0.0080% | 1h | 0.1002 | +0.403% | $18K | $382K | 10x | |
| Lighter DOGE | +0.0096% | 1h | 0.09980 | +0.018% | $851K | $6.8M | 15x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.09986 | +0.082% | $539K | $1.1M | 10x | as long as short |
Kraken Futures PF_DOGEUSD
Polymarket Perps DOGE-USD
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
Injective DOGE/USDC PERP
Bitget DOGEUSDT
Lighter DOGE
Nado DOGE-PERPShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster DOGEUSDT | +0.0100% | 8h | 0.09979 | +0.014% | $4.6M | $58.6M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.09979 | +0.014% | $319K | $500K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.09980 | +0.026% | $327.7M | $1.71B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09978 | +0.001% | $165.1M | $520.0M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09979 | +0.011% | $116.5M | $1.20B | 50x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09990 | +0.122% | $384K | $16K | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.09969 | −0.089% | $250.2M | $154.5M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09980 | +0.022% | $110.5M | $257.4M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09974 | −0.039% | $66.3M | $50.1M | 75x | as long as short |
| BingX DOGE-USDC | +0.0100% | 8h | 0.09977 | −0.009% | — | $3.5M | — | as long as short |
| Backpack DOGE_USDC_PERP | +0.0100% | 1h | 0.09973 | −0.049% | $301K | $1.3M | 15x | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.09992 | +0.140% | $1.1M | $8.7M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1000 | +0.226% | $303K | $140.4M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1000 | +0.236% | $640K | $4.7M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1000 | +0.222% | $150K | $337K | 25x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.09978 | +0.001% | $66K | $467K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.09976 | −0.021% | $19K | $7K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09982 | +0.038% | $35K | $2.3M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.09977 | −0.009% | $2K | $5.4M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09977 | −0.009% | $5.9M | $69.2M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.09976 | −0.019% | $91.6M | $17.0M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.09976 | −0.015% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09970 | −0.081% | $488K | $4.1M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.09978 | −0.004% | $19K | — | 3x | as long as short |
| Katana Perps DOGE-USD | +0.0109% | 8h | 0.09977 | −0.009% | $834 | $530K | 10x | as long as short |
| Hyperliquid DOGE | +0.0113% | 1h | 0.09980 | +0.026% | $123.6M | $116.2M | 10x | as long as short |
| Reya DOGERUSDPERP | +0.0196% | 1h | 0.09975 | −0.030% | $2K | — | 20x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.09975 | −0.029% | $16.2M | $27.0M | 75x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0231% | 1h | 0.09981 | +0.027% | $573K | $252K | 25x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0240% | 1h | 0.09983 | +0.052% | $1.9M | $34.7M | 50x | as long as short |
| 01 Exchange DOGEUSD | +0.0248% | 1h | 0.09982 | +0.044% | $444 | $4K | 10x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0250% / S −0.0297% | 1h | 0.09975 | −0.027% | $314K | — | 200x | as long as short |
| Arcus DOGE-USD | +0.0387% | 1h | 0.09971 | −0.069% | $27K | $300K | 10x | as long as short |
| RISEx DOGE/USDC | +0.0626% | 1h | 0.09978 | −0.004% | $402K | $452K | 10x | as long as short |
Aster DOGEUSDT
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Bulk DOGE-USD
Gate DOGE_USDT
MEXC DOGE_USDT
KuCoin DOGEUSDTM
BingX DOGE-USDC
Backpack DOGE_USDC_PERP
Variational Omni DOGE
edgeX DOGEUSDC
GRVT DOGE_USDT_Perp
ApeX Omni DOGEUSDT
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
Katana Perps DOGE-USD
Hyperliquid DOGE
Reya DOGERUSDPERP
BloFin DOGE-USDT
Deribit DOGE_USDC-PERPETUAL
Coinbase International DOGE-PERP-INTX
01 Exchange DOGEUSD
GMX DOGE/USD [ETH-USDC]
Arcus DOGE-USD
RISEx DOGE/USDC