Funding arb · Price arb /

DOGE

all DOGE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0182%/8h= +20.0% APRpaid last 24h −0.027%

Price spread now: Phemex against Kraken Futures−0.017%7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$460.461% of the position

Long on Kraken Futures Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.052%−$5 on $10k

Price spread, last 4 days (all we have)+0.017%+$2 · spread now −0.017%, 7d avg +0.001%

Together, before fees−0.035%−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.001%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.052%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_DOGEUSD	0.1003	−0.0082	get 0.0010% / 1h	25m 59s	$5.6M	$40.5M	50x
Short	Phemex DOGEUSDT	0.1003	0.0100	get 0.0100% / 8h	1h 25m	$92.1M	$16.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Kraken Futures. 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 Kraken FuturesbpFee PhemexbpOrdersPrice spread, now −0.017%Rate

Funding earned: $38.26
Price spread: −0.017% → +0.001%: −$1.82
Slippage, 4 orders: −$24.11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$9.67
Costs to cover: 0.461%
Break-even: 8.8 days

Slippage from Kraken Futures: 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 Kraken Futures live order book, 3 min ago	1.00 bp	11.2 bp −$11	13.5 bp −$135	32.1 bp −$3,213	doesn't fit
Sell Phemex live order book, 3 min ago	0.50 bp	12.1 bp −$12	22.1 bp −$221	40.5 bp −$4,046	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_DOGEUSDlong	−0.0082%	1h	0.1003	long leg	$5.6M	$40.5M	50x
dYdX DOGE-USD	0.0000%	1h	0.1002	−0.130%	$225K	$69K	10x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.1001	−0.266%	$613K	$6.6M	2.8x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.1002	−0.160%	$36K	—	150x	as long as short
Injective DOGE/USDC PERP	+0.0033%	1h	0.1053	+4.967%	$6K	$242K	12x	as long as short
Polymarket Perps DOGE-USD	+0.0043%	1h	0.1002	−0.157%	$267K	$1.2M	10x	as long as short
Bitget DOGEUSDT	+0.0060%	8h	0.1002	−0.157%	$142.3M	$344.3M	75x	as long as short
Phoenix DOGE	+0.0080%	1h	0.09997	−0.349%	$18K	$382K	10x	as long as short
Lighter DOGE	+0.0096%	1h	0.1004	+0.066%	$849K	$6.8M	15x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.1001	−0.181%	$541K	$1.1M	10x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster DOGEUSDT	+0.0100%	8h	0.1002	−0.130%	$4.6M	$58.5M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.1002	−0.152%	$321K	$500K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.1002	−0.143%	$329.8M	$1.71B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.1001	−0.236%	$165.6M	$520.9M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.1001	−0.236%	$117.7M	$1.21B	50x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.09990	−0.416%	$384K	$16K	10x	as long as short
Gate DOGE_USDT	+0.0100%	8h	0.1001	−0.186%	$250.5M	$156.5M	75x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.1002	−0.117%	$111.4M	$258.1M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.1003	−0.047%	$66.7M	$50.1M	75x	as long as short
BingX DOGE-USDT	+0.0100%	8h	0.1002	−0.167%	—	$80.7M	—	as long as short
Backpack DOGE_USDC_PERP	+0.0100%	1h	0.1003	+0.003%	$303K	$1.3M	15x	as long as short
Variational Omni DOGE	+0.0100%	8h	0.09984	−0.478%	$1.1M	$8.7M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.09994	−0.373%	$303K	$140.1M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.09988	−0.436%	$630K	$4.7M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.1000	−0.316%	$150K	$338K	25x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.1002	−0.127%	$66K	$467K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.09967	−0.649%	$19K	$7K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.1003	−0.042%	$35K	$2.3M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.1003	−0.037%	$2K	$5.4M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.1002	−0.114%	$5.9M	$68.9M	75x	as long as short
Phemex DOGEUSDTshort	+0.0100%	8h	0.1003	−0.017%	$92.1M	$16.9M	50x
Paradex DOGE-USD-PERP	+0.0100%	8h	0.1002	−0.149%	$18K	$5K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.1002	−0.146%	$488K	$4.1M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.1002	−0.111%	$19K	—	3x	as long as short
Katana Perps DOGE-USD	+0.0108%	8h	0.1002	−0.137%	$837	$536K	10x	as long as short
Hyperliquid DOGE	+0.0133%	1h	0.1004	+0.073%	$124.6M	$116.5M	10x	as long as short
Reya DOGERUSDPERP	+0.0197%	1h	0.1002	−0.119%	$2K	—	20x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.1001	−0.216%	$16.2M	$27.1M	75x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0240%	1h	0.1003	+0.023%	$1.9M	$35.0M	50x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0250% / S −0.0297%	1h	0.1001	−0.246%	$315K	—	200x	as long as short
01 Exchange DOGEUSD	+0.0264%	1h	0.1003	−0.010%	$446	$4K	10x	as long as short
Deribit DOGE_USDC-PERPETUAL	+0.0329%	1h	0.1002	−0.073%	$575K	$252K	25x	as long as short
Arcus DOGE-USD	+0.0387%	1h	0.1002	−0.127%	$19K	$306K	10x	as long as short
RISEx DOGE/USDC	+0.0626%	1h	0.1003	−0.060%	$404K	$458K	10x	as long as short