Funding arb · Price arb /

DOGE

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: SunX against Lighter−0.027%7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

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

costs, in and out, $10k−$580.578% of the position

Long on Lighter Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.017%+$2 on $10k

Price spread, last 3 days (all we have)+0.021%+$2 · spread now −0.027%, 7d avg −0.005%

Together, before fees+0.038%+ Points / potential airdropLighter: Season 3 · farm board+$4 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: SunX is 0.022% cheaper against Lighter than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter DOGE	0.1011	0.0096	pay 0.0012% / 1h	42m 07s	$815K	$5.5M	15x
Short	SunX DOGE-USDT	0.1010	0.0100	get 0.0100% / 8h	42m 07s	$36K	$2.2M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.027%Rate

Funding earned: $0.84
Price spread: −0.027% → −0.005%: −$2.19
Slippage, 4 orders: −$49.81
Fee Lighter: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$59.16
Costs to cover: 0.578%
Break-even: 500.0 days

Slippage from Lighter: live order book, 6 min ago; SunX: 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, 6 min ago	2.02 bp	4.8 bp −$5	10.4 bp −$104	25.8 bp −$2,580	doesn't fit
Sell SunX live order book, 4 min ago	17.06 bp	23.2 bp −$23	30.7 bp −$307	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	−0.0242%	8h	0.1010	−0.094%	$153.8M	$268.5M	75x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.1012	+0.128%	$420K	$4.7M	2.8x	as long as short
Deribit DOGE_USDC-PERPETUAL	0.0000%	1h	0.1010	−0.063%	$611K	$113K	25x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.1010	−0.077%	$25K	—	150x	as long as short
Gate DOGE_USDT	+0.0077%	8h	0.1010	−0.035%	$243.7M	$126.3M	75x	as long as short
dYdX DOGE-USD	+0.0088%	1h	0.1011	+0.002%	$227K	$44K	10x	as long as short
Lighter DOGElong	+0.0096%	1h	0.1011	long leg	$815K	$5.5M	15x
Katana Perps DOGE-USD	+0.0097%	8h	0.1010	−0.094%	$975	$389K	10x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.1009	−0.124%	$602K	$899K	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.1010	−0.018%	$5.1M	$45.3M	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	0.1011	+0.020%	$337K	$506K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.1010	−0.025%	$323.0M	$1.36B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.1011	+0.025%	$159.4M	$429.7M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.1011	+0.015%	$109.9M	$953.1M	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.1010	−0.025%	$31K	$80K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.1015	+0.381%	$389K	$12K	10x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.1010	−0.025%	$112.9M	$220.1M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.1010	−0.074%	$66.4M	$41.8M	75x	as long as short
BingX DOGE-USDC	+0.0100%	8h	0.1010	−0.064%	—	$3.4M	—	as long as short
Variational Omni DOGE	+0.0100%	8h	0.1018	+0.769%	$1.1M	$8.1M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.1018	+0.773%	$279K	$118.3M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.1018	+0.727%	$641K	$4.6M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.1019	+0.826%	$150K	$249K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.1010	−0.104%	$261K	$555K	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.1010	−0.074%	$73K	$433K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.1010	−0.083%	$25K	$1K	10x	as long as short
SunX DOGE-USDTshort	+0.0100%	8h	0.1010	−0.027%	$36K	$2.2M	30x
SoDEX DOGE-USD	+0.0100%	1h	0.1010	−0.064%	$2K	$3.6M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.1010	−0.048%	$6.1M	$51.5M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.1010	−0.025%	$93.5M	$19.2M	50x	as long as short
Paradex DOGE-USD-PERP	+0.0100%	8h	0.1010	−0.072%	$18K	$5K	30x	as long as short
Kraken Futures PF_DOGEUSD	+0.0104%	1h	0.1010	−0.065%	$6.0M	$33.2M	50x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.1010	−0.092%	$557K	$3.7M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.1010	−0.074%	$19K	—	3x	as long as short
Reya DOGERUSDPERP	+0.0178%	1h	0.1010	−0.078%	$2K	—	20x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.1012	+0.124%	$15.4M	$25.5M	75x	as long as short
Phoenix DOGE	+0.0239%	1h	0.1015	+0.435%	$67K	$281K	10x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0240%	1h	0.1011	+0.045%	$2.0M	$24.3M	50x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0253% / S −0.0291%	1h	0.1010	−0.074%	$331K	—	200x	as long as short
01 Exchange DOGEUSD	+0.0256%	1h	0.1010	−0.044%	$533	$4K	10x	as long as short
Backpack DOGE_USDC_PERP	+0.0433%	1h	0.1011	+0.035%	$540K	$965K	15x	as long as short
RISEx DOGE/USDC	+0.0708%	1h	0.1010	−0.025%	$317K	$475K	10x	as long as short
Hyperliquid DOGE	+0.0956%	1h	0.1012	+0.143%	$118.3M	$88.1M	10x	as long as short
Injective DOGE/USDC PERP	+0.1039%	1h	0.1020	+0.925%	$5K	$239K	12x	as long as short