Funding you earn now, next payment 02:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h +0.029%
Price spread now: Backpack against Lighter−0.117%7-day average −0.053% · you buy dearer than you sell
Net, funding: paid 7d − costs−$24as in the Funding arb table
Net, price: spread back to 7d avg − costs−$33as in the Price arb table
costs, in and out, $10k−$270.267% of the position
Funding, last 7 days+0.022%+$2 on $10k
+Price spread, last 4 days (all we have)−0.030%−$3 · spread now −0.117%, 7d avg −0.053%
=Together, before fees−0.008%+ Points / potential airdropLighter: Season 3 · farm board−$1 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: Backpack is 0.064% cheaper against Lighter than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.053%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter DOGE | 0.09961 | 0.0096 | pay 0.0012% / 1h | 0m 10s | $819K | $6.1M | 15x |
| Short | Backpack DOGE_USDC_PERP | 0.09949 | 0.0100 | get 0.0013% / 1h | 0m 10s | $334K | $1.1M | 15x |
Lighter DOGE
Backpack DOGE_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Lighter. 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
- $0.84
- Price spread: −0.117% → −0.053%
- −$6.43
- Slippage, 4 orders
- −$16.72
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$32.31
- Costs to cover
- 0.267%
- Break-even
- 276.3 days
Slippage from Lighter: live order book, 8 min ago; Backpack: 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 Lighter live order book, 8 min ago | 1.35 bp | 3.1 bp −$3 | 6.7 bp −$67 | 23.3 bp −$2,332 | doesn't fit |
| Sell Backpack live order book, 4 min ago | 0.50 bp | 6.5 bp −$6 | 100.2 bp −$1,002 | doesn't fit | 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 | −0.0094% | 8h | 0.09943 | −0.178% | $150.6M | $273.0M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.09959 | −0.017% | $393K | $5.0M | 2.8x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | 0.0000% | 1h | 0.09959 | −0.015% | $595K | $118K | 25x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.09961 | +0.001% | $23K | — | 150x | as long as short |
| dYdX DOGE-USD | +0.0010% | 1h | 0.09978 | +0.174% | $224K | $49K | 10x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0067% | 1h | 0.09955 | −0.060% | $5.8M | $34.7M | 50x | as long as short |
| Lighter DOGElong | +0.0096% | 1h | 0.09961 | long leg | $819K | $6.1M | 15x | |
| Katana Perps DOGE-USD | +0.0099% | 8h | 0.09973 | +0.123% | $833 | $429K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.09967 | +0.068% | $531K | $988K | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.09966 | +0.058% | $4.6M | $48.1M | 75x | as long as short |
Bitget DOGEUSDT
Kalshi KXDOGEPERP
Deribit DOGE_USDC-PERPETUAL
gTrade (Gains Network) DOGE/USD
dYdX DOGE-USD
Kraken Futures PF_DOGEUSD
Katana Perps DOGE-USD
Nado DOGE-PERP
Aster DOGEUSDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica DOGE | +0.0100% | 1h | 0.09984 | +0.234% | $328K | $503K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.09952 | −0.092% | $316.9M | $1.43B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09950 | −0.107% | $158.9M | $436.5M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09952 | −0.087% | $110.7M | $978.6M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.09986 | +0.254% | $128K | $178K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.1002 | +0.553% | $384K | $5K | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.09950 | −0.107% | $241.6M | $133.7M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09952 | −0.087% | $113.4M | $232.6M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09951 | −0.097% | $65.8M | $43.1M | 75x | as long as short |
| BingX DOGE-USDC | +0.0100% | 8h | 0.09949 | −0.117% | — | $3.5M | — | as long as short |
| Backpack DOGE_USDC_PERPshort | +0.0100% | 1h | 0.09949 | −0.117% | $334K | $1.1M | 15x | |
| Variational Omni DOGE | +0.0100% | 8h | 0.09973 | +0.121% | $995K | $8.2M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.10000 | +0.394% | $294K | $129.5M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.09982 | +0.209% | $627K | $4.4M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1000 | +0.395% | $146K | $272K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.09965 | +0.039% | $256K | $684K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.09962 | +0.013% | $70K | $440K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.09959 | −0.016% | $24K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09987 | +0.268% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.09960 | −0.007% | $2K | $3.8M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09955 | −0.061% | $5.9M | $55.4M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.09952 | −0.087% | $91.7M | $16.9M | 50x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09956 | −0.046% | $560K | $4.0M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.09958 | −0.030% | $19K | — | 3x | as long as short |
| Paradex DOGE-USD-PERP | +0.0106% | 8h | 0.09975 | +0.145% | $18K | $6K | 30x | as long as short |
| Reya DOGERUSDPERP | +0.0185% | 1h | 0.09962 | +0.010% | $2K | — | 20x | as long as short |
| 01 Exchange DOGEUSD | +0.0216% | 1h | 0.09977 | +0.165% | $532 | $4K | 10x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0240% | 1h | 0.09963 | +0.023% | $2.3M | $25.7M | 50x | as long as short |
| Phoenix DOGE | +0.0241% | 1h | 0.1000 | +0.398% | $65K | $284K | 10x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0245% / S −0.0267% | 1h | 0.09961 | −0.001% | $310K | — | 200x | as long as short |
| RISEx DOGE/USDC | +0.0563% | 1h | 0.09979 | +0.189% | $402K | $367K | 10x | as long as short |
| Hyperliquid DOGE | +0.0669% | 1h | 0.09981 | +0.205% | $121.3M | $99.4M | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1004% | 1h | 0.1006 | +0.997% | $5K | $239K | 12x | as long as short |
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-USDC
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
Extended DOGE-USD
Aevo DOGE-PERP
Paradex DOGE-USD-PERP
Reya DOGERUSDPERP
01 Exchange DOGEUSD
Coinbase International DOGE-PERP-INTX
Phoenix DOGE
GMX DOGE/USD [ETH-USDC]
RISEx DOGE/USDC
Hyperliquid DOGE
Injective DOGE/USDC PERP