Funding arb · Price arb /

DOGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against KuCoin−0.055%7-day average +0.050% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$330.334% of the position

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.047%+$5 on $10k

Price spread, last 4 days (all we have)+0.137%+$14 · spread now −0.055%, 7d avg +0.050%

Together, before fees+0.184%+ Points / potential airdropLighter: Season 3 · farm board+$18 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.104% cheaper against KuCoin than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin DOGEUSDTM	0.1005	0.0100	pay 0.0100% / 8h	5h 52m	$66.4M	$43.1M	75x
Short	Lighter DOGE	0.1004	0.0096	get 0.0012% / 1h	52m 16s	$816K	$6.1M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. 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 KuCoinbpFee LighterbpOrdersPrice spread, now −0.055%Rate

Funding earned: −$0.84
Price spread: −0.055% → +0.050%: −$10.44
Slippage, 4 orders: −$21.42
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$44.7
Costs to cover: 0.334%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; Lighter: live order book, 6 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 KuCoin live order book, 2 min ago	1.00 bp	8.0 bp −$8	14.1 bp −$141	41.3 bp −$4,130	doesn't fit
Sell Lighter live order book, 6 min ago	1.46 bp	9.6 bp −$10	16.1 bp −$161	38.4 bp −$3,842	doesn't fit

DOGE on 43 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	−0.0091%	8h	0.1002	−0.299%	$151.7M	$273.5M	75x	as long as short
dYdX DOGE-USD	0.0000%	1h	0.1004	−0.054%	$225K	$49K	10x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.1004	−0.046%	$438K	$5.1M	2.8x	as long as short
Deribit DOGE_USDC-PERPETUAL	0.0000%	1h	0.1003	−0.192%	$599K	$118K	25x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.1003	−0.181%	$24K	—	150x	as long as short
Lighter DOGEshort	+0.0096%	1h	0.1004	−0.055%	$816K	$6.1M	15x
Katana Perps DOGE-USD	+0.0099%	8h	0.1004	−0.050%	$839	$434K	10x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.1004	−0.095%	$535K	$989K	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.1005	+0.001%	$4.7M	$48.3M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.1005	−0.010%	$330K	$482K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance DOGEUSDT	+0.0100%	8h	0.1004	−0.126%	$321.0M	$1.43B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.1003	−0.159%	$160.7M	$438.1M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.1003	−0.159%	$111.7M	$988.4M	50x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.09990	−0.587%	$383K	$5K	10x	as long as short
Gate DOGE_USDT	+0.0100%	8h	0.1004	−0.040%	$243.9M	$131.1M	75x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.1005	−0.010%	$114.6M	$229.0M	300x	as long as short
KuCoin DOGEUSDTMlong	+0.0100%	8h	0.1005	long leg	$66.4M	$43.1M	75x
BingX DOGE-USDT	+0.0100%	8h	0.1003	−0.149%	—	$76.1M	—	as long as short
Backpack DOGE_USDC_PERP	+0.0100%	1h	0.1002	−0.308%	$335K	$1.1M	15x	as long as short
Variational Omni DOGE	+0.0100%	8h	0.1002	−0.240%	$998K	$8.2M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.09991	−0.579%	$296K	$128.8M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.09953	−0.954%	$625K	$4.4M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.09950	−0.985%	$146K	$274K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.1004	−0.040%	$257K	$730K	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.1002	−0.259%	$70K	$440K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.1003	−0.212%	$25K	$1K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.1004	−0.097%	$35K	$2.2M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.1003	−0.139%	$2K	$3.8M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.1003	−0.233%	$6.0M	$56.0M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.1003	−0.139%	$92.4M	$16.8M	50x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.1003	−0.195%	$562K	$4.0M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.1003	−0.202%	$19K	—	3x	as long as short
Paradex DOGE-USD-PERP	+0.0105%	8h	0.1004	−0.047%	$18K	$6K	30x	as long as short
Reya DOGERUSDPERP	+0.0186%	1h	0.1005	−0.028%	$2K	—	20x	as long as short
01 Exchange DOGEUSD	+0.0232%	1h	0.1005	+0.028%	$536	$4K	10x	as long as short
Phoenix DOGE	+0.0240%	1h	0.09951	−0.976%	$65K	$288K	10x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0246% / S −0.0267%	1h	0.1004	−0.113%	$312K	—	200x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0248%	1h	0.1003	−0.179%	$2.3M	$26.0M	50x	as long as short
Kraken Futures PF_DOGEUSD	+0.0305%	1h	0.1004	−0.137%	$5.8M	$34.8M	50x	as long as short
Hyperliquid DOGE	+0.0435%	1h	0.1006	+0.100%	$122.5M	$99.6M	10x	as long as short
RISEx DOGE/USDC	+0.0747%	1h	0.1005	−0.035%	$404K	$367K	10x	as long as short
Arcus DOGE-USD	+0.0781%	1h	0.1006	+0.070%	$129K	$179K	10x	as long as short
Injective DOGE/USDC PERP	+0.1072%	1h	0.1004	−0.090%	$5K	$239K	12x	as long as short