Funding you earn now, next payment 10:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.027%
Price spread now: Backpack against Phemex−0.132%7-day average −0.017% · you buy dearer than you sell
Net, funding: paid 7d − costs−$31as in the Funding arb table
Net, price: spread back to 7d avg − costs−$47as in the Price arb table
costs, in and out, $10k−$360.356% of the position
Funding, last 7 days+0.045%+$4 on $10k
+Price spread, last 4 days (all we have)+0.075%+$7 · spread now −0.132%, 7d avg −0.017%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.114% cheaper against Phemex than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of −0.017%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex DOGEUSDT | 0.09866 | 0.0100 | pay 0.0100% / 8h | 6h 54m | $90.1M | $16.2M | 50x |
| Short | Backpack DOGE_USDC_PERP | 0.09853 | 0.0100 | get 0.0013% / 1h | 54m 39s | $309K | $1.3M | 15x |
Phemex DOGEUSDT
Backpack DOGE_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Phemex. 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
- Price spread: −0.132% → −0.017%
- −$11.44
- Slippage, 4 orders
- −$13.57
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$47
- Costs to cover
- 0.356%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 4 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 Phemex live order book, 4 min ago | 2.52 bp | 13.0 bp −$13 | 17.5 bp −$175 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 4 min ago | 0.50 bp | 6.4 bp −$6 | 25.6 bp −$256 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_DOGEUSD | −0.0052% | 1h | 0.09864 | −0.017% | $5.3M | $40.6M | 50x | as long as short |
| Bitget DOGEUSDT | −0.0025% | 8h | 0.09856 | −0.101% | $139.3M | $347.9M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.09901 | +0.356% | $510K | $6.6M | 2.8x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | 0.0000% | 1h | 0.09871 | +0.051% | $553K | $299K | 25x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.09967 | +1.026% | $33K | — | 150x | as long as short |
| Gate DOGE_USDT | +0.0016% | 8h | 0.09859 | −0.071% | $249.4M | $146.1M | 75x | as long as short |
| Injective DOGE/USDC PERP | +0.0033% | 1h | 0.1053 | +6.730% | $6K | $240K | 12x | as long as short |
| Phoenix DOGE | +0.0081% | 1h | 0.09952 | +0.871% | $18K | $355K | 10x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.09856 | −0.105% | $814K | $6.5M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0100% | 8h | 0.09866 | 0.000% | $2K | $545K | 10x | as long as short |
Kraken Futures PF_DOGEUSD
Bitget DOGEUSDT
Kalshi KXDOGEPERP
Deribit DOGE_USDC-PERPETUAL
gTrade (Gains Network) DOGE/USD
Gate DOGE_USDT
Injective DOGE/USDC PERP
Phoenix DOGE
Lighter DOGE
Katana Perps DOGE-USDShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado DOGE-PERP | +0.0100% | 1h | 0.09857 | −0.091% | $511K | $1.1M | 10x | as long as short |
| Hyperliquid DOGE | +0.0100% | 1h | 0.09861 | −0.047% | $123.1M | $113.3M | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.09849 | −0.172% | $5.0M | $58.7M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.09847 | −0.188% | $320K | $473K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.09869 | +0.032% | $326.0M | $1.69B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09856 | −0.101% | $165.8M | $521.5M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09860 | −0.061% | $115.1M | $1.16B | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.09868 | +0.020% | $17K | $307K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09931 | +0.663% | $379K | $2K | 10x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09849 | −0.172% | $109.9M | $254.7M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09867 | +0.010% | $65.9M | $48.6M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.09863 | −0.030% | — | $50.0M | — | as long as short |
| Backpack DOGE_USDC_PERPshort | +0.0100% | 1h | 0.09853 | −0.132% | $309K | $1.3M | 15x | |
| Variational Omni DOGE | +0.0100% | 8h | 0.09917 | +0.513% | $1.1M | $8.2M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.09931 | +0.660% | $263K | $137.6M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.09938 | +0.730% | $626K | $4.0M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.09940 | +0.750% | $142K | $346K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.09864 | −0.015% | $253K | $1.2M | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.09869 | +0.030% | $71K | $451K | 50x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09864 | −0.022% | $34K | $2.1M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.09864 | −0.020% | $2K | $5.4M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09867 | +0.006% | $6.0M | $67.7M | 75x | as long as short |
| Phemex DOGEUSDTlong | +0.0100% | 8h | 0.09866 | long leg | $90.1M | $16.2M | 50x | |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.09844 | −0.225% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09858 | −0.083% | $478K | $4.0M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.09869 | +0.031% | $19K | — | 3x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0166% / S −0.0120% | 1h | 0.09864 | −0.022% | $329K | — | 200x | as long as short |
| 01 Exchange DOGEUSD | +0.0176% | 1h | 0.09873 | +0.070% | $454 | $4K | 10x | as long as short |
| Reya DOGERUSDPERP | +0.0204% | 1h | 0.09864 | −0.017% | $2K | — | 20x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.09865 | −0.010% | $15.3M | $26.7M | 75x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0240% | 1h | 0.09870 | +0.041% | $2.2M | $35.1M | 50x | as long as short |
| dYdX DOGE-USD | +0.0384% | 1h | 0.09845 | −0.213% | $231K | $62K | 10x | as long as short |
| RISEx DOGE/USDC | +0.0565% | 1h | 0.09871 | +0.052% | $400K | $450K | 10x | as long as short |
Nado DOGE-PERP
Hyperliquid DOGE
Aster DOGEUSDT
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Arcus DOGE-USD
Bulk DOGE-USD
MEXC DOGE_USDT
KuCoin DOGEUSDTM
BingX DOGE-USDT
Variational Omni DOGE
edgeX DOGEUSDC
GRVT DOGE_USDT_Perp
ApeX Omni DOGEUSDT
Polymarket Perps DOGE-USD
Orderly PERP_DOGE_USDC
SunX DOGE-USDT
SoDEX DOGE-USD
HTX DOGE-USDT
Paradex DOGE-USD-PERP
Extended DOGE-USD
Aevo DOGE-PERP
GMX DOGE/USD [ETH-USDC]
01 Exchange DOGEUSD
Reya DOGERUSDPERP
BloFin DOGE-USDT
Coinbase International DOGE-PERP-INTX
dYdX DOGE-USD
RISEx DOGE/USDC