Funding you earn now, next payment 01:00 UTC−0.0873%/8h= −95.6% APRnext payment −$1.09 per $10,000 · paid last 24h −0.173%
Price spread now: Backpack against Injective−0.464%72s7-day average −0.195% · you buy dearer than you sell
Net, funding: paid 7d − costs−$222as 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−$750.746% of the position
Funding, last 7 days−1.473%−$147 on $10k
+Price spread, last 3 days (all we have)+0.375%+$38 · spread now −0.464%, 7d avg −0.195%
=Both sides work against this trade now: funding costs −$26 a day on $10k at the current rate, and Backpack is 0.269% cheaper against Injective than usual: you would sell low and buy high (−$27 if the spread goes back to its 7-day average of −0.195%). Swap the legs. The two prices were read 72 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 | Injective DOGE/USDC PERP | 0.1012 | 0.0973 | pay 0.0122% / 1h | 5m 46s | $5K | $239K | 12x |
| Short | Backpack DOGE_USDC_PERP | 0.1007 | 0.0100 | get 0.0013% / 1h | 5m 46s | $366K | $1.1M | 15x |
Injective DOGE/USDC PERP
Backpack DOGE_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Injective. 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
- −$183.39
- Price spread: −0.464% → −0.195%
- −$26.91
- Slippage, 4 orders
- −$64.54
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$284.85
- Costs to cover
- 0.746%
- Break-even
- never at this rate
Slippage from Injective: live order book, 3 min ago; Backpack: 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 Injective live order book, 3 min ago | 29.73 bp | 29.7 bp −$30 | doesn't fit | doesn't fit | doesn't fit |
| Sell Backpack live order book, 3 min ago | 0.99 bp | 8.0 bp −$8 | 425.7 bp −$4,257 | 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 | −0.0163% | 8h | 0.1006 | −0.573% | $152.8M | $271.6M | 75x | as long as short |
| Kraken Futures PF_DOGEUSD | −0.0077% | 1h | 0.1008 | −0.429% | $6.0M | $33.9M | 50x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.1009 | −0.346% | $416K | $4.9M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.1006 | −0.566% | $24K | — | 150x | as long as short |
| dYdX DOGE-USD | +0.0010% | 1h | 0.1007 | −0.532% | $226K | $44K | 10x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0018% | 1h | 0.1007 | −0.537% | $605K | $119K | 25x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.1008 | −0.389% | $796K | $5.9M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0100% | 8h | 0.1007 | −0.524% | $845 | $425K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1007 | −0.504% | $516K | $972K | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.1007 | −0.507% | $5.1M | $46.8M | 75x | as long as short |
Bitget DOGEUSDT
Kraken Futures PF_DOGEUSD
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
dYdX DOGE-USD
Deribit DOGE_USDC-PERPETUAL
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 | 0.1007 | −0.446% | $336K | $512K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.1007 | −0.484% | $320.2M | $1.41B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.1007 | −0.494% | $160.6M | $439.0M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1007 | −0.484% | $111.3M | $971.9M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.1008 | −0.415% | $28K | $95K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.1009 | −0.264% | $387K | $5K | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.1007 | −0.534% | $244.9M | $131.6M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1007 | −0.484% | $113.4M | $226.3M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1007 | −0.474% | $66.2M | $42.5M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.1007 | −0.474% | — | $76.2M | — | as long as short |
| Backpack DOGE_USDC_PERPshort | +0.0100% | 1h | 0.1007 | −0.464% | $366K | $1.1M | 15x | |
| Variational Omni DOGE | +0.0100% | 8h | 0.1006 | −0.577% | $994K | $8.1M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1011 | −0.088% | $272K | $124.8M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1011 | −0.109% | $645K | $4.5M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1012 | 0.000% | $149K | $268K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.1006 | −0.583% | $264K | $635K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.1006 | −0.563% | $74K | $426K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1006 | −0.579% | $25K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1007 | −0.489% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1007 | −0.464% | $2K | $3.8M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1006 | −0.562% | $6.0M | $53.0M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.1008 | −0.366% | $93.0M | $17.9M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.1007 | −0.497% | $18K | $6K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1007 | −0.519% | $531K | $3.9M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1006 | −0.557% | $19K | — | 3x | as long as short |
| 01 Exchange DOGEUSD | +0.0176% | 1h | 0.1007 | −0.522% | $532 | $4K | 10x | as long as short |
| Reya DOGERUSDPERP | +0.0182% | 1h | 0.1006 | −0.548% | $2K | — | 20x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.1010 | −0.158% | $15.6M | $25.8M | 75x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0240% | 1h | 0.1008 | −0.405% | $2.0M | $25.2M | 50x | as long as short |
| Phoenix DOGE | +0.0240% | 1h | 0.1013 | +0.073% | $66K | $283K | 10x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0247% / S −0.0271% | 1h | 0.1006 | −0.573% | $316K | — | 200x | as long as short |
| RISEx DOGE/USDC | +0.0701% | 1h | 0.1008 | −0.444% | $325K | $404K | 10x | as long as short |
| Hyperliquid DOGE | +0.0762% | 1h | 0.1009 | −0.336% | $123.4M | $95.8M | 10x | as long as short |
| Injective DOGE/USDC PERPlong | +0.0973% | 1h | 0.1012 | long leg | $5K | $239K | 12x |
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Arcus DOGE-USD
Bulk DOGE-USD
Gate DOGE_USDT
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
01 Exchange DOGEUSD
Reya DOGERUSDPERP
BloFin DOGE-USDT
Coinbase International DOGE-PERP-INTX
Phoenix DOGE
GMX DOGE/USD [ETH-USDC]
RISEx DOGE/USDC
Hyperliquid DOGE