DOGE

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0068%/8h= −7.4% APRnext payment −$0.09 per $10,000 · paid last 24h −0.031%

Price spread now: Deribit against Lighter−0.292%7-day average −0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$340.338% of the position

Long on Lighter Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.195%−$20 on $10k

Price spread, last 3 days (all we have)+0.266%+$27 · spread now −0.292%, 7d avg −0.031%

Together, before fees+0.071%+ Points / potential airdropLighter: Season 3 · farm board+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Deribit is 0.261% cheaper against Lighter than usual: you would sell low and buy high (−$26 if the spread goes back to its 7-day average of −0.031%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter DOGE	0.1009	0.0096	pay 0.0012% / 1h	4m 36s	$797K	$5.9M	15x
Short	Deribit DOGE_USDC-PERPETUAL	0.1007	0.0028	get 0.0003% / 1h	4m 36s	$605K	$119K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Lighter. 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 LighterbpFee DeribitbpOrdersPrice spread, now −0.292%Rate

Funding earned: −$14.28
Price spread: −0.292% → −0.031%: −$26.14
Slippage, 4 orders: −$26.79
Fee Lighter: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$74.22
Costs to cover: 0.338%
Break-even: never at this rate

Slippage from Lighter: live order book, 8 min ago; Deribit: 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	2.42 bp	2.9 bp −$3	5.7 bp −$57	24.3 bp −$2,434	doesn't fit
Sell Deribit live order book, 4 min ago	4.46 bp	10.1 bp −$10	18.9 bp −$189	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	−0.0162%	8h	0.1008	−0.163%	$153.0M	$271.6M	75x	as long as short
Kraken Futures PF_DOGEUSD	−0.0077%	1h	0.1006	−0.315%	$6.0M	$33.9M	50x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.1007	−0.226%	$416K	$4.9M	2.8x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.1006	−0.325%	$24K	—	150x	as long as short
dYdX DOGE-USD	+0.0010%	1h	0.1008	−0.107%	$226K	$44K	10x	as long as short
Deribit DOGE_USDC-PERPETUALshort	+0.0028%	1h	0.1007	−0.292%	$605K	$119K	25x
Lighter DOGElong	+0.0096%	1h	0.1009	long leg	$797K	$5.9M	15x
Katana Perps DOGE-USD	+0.0100%	8h	0.1008	−0.104%	$1K	$425K	10x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.1007	−0.282%	$516K	$972K	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.1009	−0.088%	$5.1M	$46.8M	75x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica DOGE	+0.0100%	1h	0.1009	−0.054%	$336K	$512K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.1009	−0.058%	$320.7M	$1.41B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.1009	−0.074%	$160.8M	$439.1M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.1009	−0.064%	$111.4M	$973.7M	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.1010	+0.025%	$77K	$124K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.1009	−0.012%	$387K	$5K	10x	as long as short
Gate DOGE_USDT	+0.0100%	8h	0.1009	−0.074%	$245.4M	$131.6M	75x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.1009	−0.084%	$113.7M	$226.4M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.1009	−0.074%	$66.3M	$42.5M	75x	as long as short
BingX DOGE-USDC	+0.0100%	8h	0.1008	−0.154%	—	$3.4M	—	as long as short
Backpack DOGE_USDC_PERP	+0.0100%	1h	0.1006	−0.302%	$366K	$1.1M	15x	as long as short
Variational Omni DOGE	+0.0100%	8h	0.1006	−0.326%	$994K	$8.1M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.1009	−0.079%	$270K	$125.0M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.1011	+0.143%	$645K	$4.5M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.1012	+0.253%	$149K	$268K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.1006	−0.342%	$264K	$635K	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.1006	−0.312%	$74K	$426K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.1006	−0.338%	$25K	$1K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.1007	−0.208%	$35K	$2.2M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.1006	−0.302%	$2K	$3.8M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.1006	−0.342%	$6.0M	$53.0M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.1006	−0.312%	$92.9M	$17.9M	50x	as long as short
Paradex DOGE-USD-PERP	+0.0101%	8h	0.1009	−0.030%	$18K	$6K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.1008	−0.137%	$531K	$3.9M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.1006	−0.321%	$19K	—	3x	as long as short
01 Exchange DOGEUSD	+0.0168%	1h	0.1009	−0.059%	$533	$4K	10x	as long as short
Reya DOGERUSDPERP	+0.0183%	1h	0.1006	−0.297%	$2K	—	20x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.1007	−0.292%	$15.5M	$25.7M	75x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0240%	1h	0.1007	−0.282%	$2.0M	$25.2M	50x	as long as short
Phoenix DOGE	+0.0240%	1h	0.1008	−0.185%	$65K	$283K	10x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0247% / S −0.0271%	1h	0.1006	−0.332%	$316K	—	200x	as long as short
RISEx DOGE/USDC	+0.0701%	1h	0.1010	+0.010%	$326K	$404K	10x	as long as short
Hyperliquid DOGE	+0.0761%	1h	0.1010	+0.054%	$123.5M	$95.9M	10x	as long as short
Injective DOGE/USDC PERP	+0.0973%	1h	0.1012	+0.253%	$5K	$239K	12x	as long as short