Funding arb · Price arb /

DOGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h 0.000%

Price spread now: Orderly against Lighter−0.071%7-day average −0.052% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.075%−$7 on $10k

Price spread, last 4 days (all we have)+0.016%+$2 · spread now −0.071%, 7d avg −0.052%

Together, before fees−0.059%+ Points / potential airdropLighter: Season 3 · farm board−$6 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter DOGE	0.1050	0.0096	pay 0.0012% / 1h	45m 10s	$749K	$6.4M	15x
Short	Orderly PERP_DOGE_USDC	0.1049	0.0100	get 0.0100% / 8h	3h 45m	$74K	$440K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.071%Rate

Funding earned: $0.84
Price spread: −0.071% → −0.052%: −$1.99
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$7.15
Costs to cover: 0.060%
Break-even: 66.6 days

Slippage unknown: Lighter: live order book, 8 min ago; Orderly: no order-book sample. Net counts fees only.

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	0.66 bp	1.0 bp −$1	11.9 bp −$119	29.4 bp −$2,943	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
dYdX DOGE-USD	0.0000%	1h	0.1047	−0.214%	$235K	$70K	10x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.1047	−0.242%	$731K	$6.1M	2.8x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.1048	−0.108%	$25K	—	150x	as long as short
Bitget DOGEUSDT	+0.0009%	8h	0.1048	−0.119%	$142.0M	$308.3M	75x	as long as short
Lighter DOGElong	+0.0096%	1h	0.1050	long leg	$749K	$6.4M	15x
Nado DOGE-PERP	+0.0100%	1h	0.1048	−0.172%	$569K	$1.1M	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.1049	−0.082%	$5.0M	$53.2M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.1048	−0.170%	$338K	$510K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.1049	−0.052%	$348.2M	$1.57B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.1048	−0.110%	$173.3M	$487.3M	75x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.1048	−0.100%	$120.2M	$1.15B	50x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.1047	−0.277%	$402K	$11K	10x	as long as short
Gate DOGE_USDT	+0.0100%	8h	0.1048	−0.129%	$259.1M	$141.7M	75x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.1049	−0.081%	$117.6M	$239.9M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.1049	−0.062%	$69.0M	$47.3M	75x	as long as short
BingX DOGE-USDT	+0.0100%	8h	0.1049	−0.071%	—	$78.5M	—	as long as short
Backpack DOGE_USDC_PERP	+0.0100%	1h	0.1049	−0.091%	$354K	$1.2M	15x	as long as short
Variational Omni DOGE	+0.0100%	8h	0.1044	−0.513%	$1.2M	$8.4M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.1045	−0.410%	$335K	$134.5M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.1043	−0.586%	$659K	$4.5M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.1046	−0.338%	$164K	$317K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.1048	−0.176%	$269K	$889K	10x	as long as short
Orderly PERP_DOGE_USDCshort	+0.0100%	8h	0.1049	−0.071%	$74K	$440K	50x
Derive DOGE-PERP	+0.0100%	1h	0.1049	−0.070%	$26K	$1K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.1050	−0.003%	$36K	$2.2M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.1049	−0.052%	$2K	$4.9M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.1048	−0.124%	$6.2M	$63.2M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.1049	−0.052%	$96.5M	$17.1M	50x	as long as short
Paradex DOGE-USD-PERP	+0.0104%	8h	0.1047	−0.196%	$19K	$7K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.1049	−0.076%	$505K	$4.1M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.1049	−0.039%	$20K	—	3x	as long as short
Katana Perps DOGE-USD	+0.0125%	8h	0.1047	−0.291%	$1K	$485K	10x	as long as short
Reya DOGERUSDPERP	+0.0191%	1h	0.1048	−0.131%	$2K	—	20x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.1049	−0.062%	$16.3M	$27.5M	75x	as long as short
Phoenix DOGE	+0.0235%	1h	0.1045	−0.466%	$19K	$292K	10x	as long as short
Kraken Futures PF_DOGEUSD	+0.0240%	1h	0.1049	−0.083%	$5.6M	$37.7M	50x	as long as short
01 Exchange DOGEUSD	+0.0256%	1h	0.1048	−0.147%	$466	$4K	10x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0261% / S −0.0320%	1h	0.1048	−0.151%	$346K	—	200x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0304%	1h	0.1047	−0.233%	$2.0M	$32.1M	50x	as long as short
Deribit DOGE_USDC-PERPETUAL	+0.0437%	1h	0.1050	−0.005%	$591K	$242K	25x	as long as short
Hyperliquid DOGE	+0.0591%	1h	0.1050	+0.027%	$130.1M	$107.4M	10x	as long as short
Arcus DOGE-USD	+0.0634%	1h	0.1049	−0.091%	$113K	$200K	10x	as long as short
RISEx DOGE/USDC	+0.0728%	1h	0.1048	−0.152%	$423K	$426K	10x	as long as short
Injective DOGE/USDC PERP	+0.1062%	1h	0.1053	+0.329%	$6K	$242K	12x	as long as short