Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.031%
Price spread now: Deribit against Phemex+0.027%7-day average −0.004% · you sell dearer than you buy
Net, funding: paid 7d − costs−$64as in the Funding arb table
Net, price: spread back to 7d avg − costs−$44as in the Price arb table
costs, in and out, $10k−$470.467% of the position
Funding, last 7 days−0.175%−$18 on $10k
+Price spread, last 3 days (all we have)−0.008%−$1 · spread now +0.027%, 7d avg −0.004%
=The price spread pays, funding is against you. Deribit is 0.031% dearer against Phemex than usual: you sell high and buy low (spread +0.027% now, against its 7-day average of −0.004%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 25 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex DOGEUSDT | 0.1018 | 0.0100 | pay 0.0100% / 8h | 45m 23s | $94.2M | $19.2M | 50x |
| Short | Deribit DOGE_USDC-PERPETUAL | 0.1018 | 0 | get 0.0000% / 1h | 45m 23s | $612K | $109K | 25x |
Phemex DOGEUSDT
Deribit DOGE_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- −$21
- Price spread: +0.027% → −0.004%
- $3.09
- Slippage, 4 orders
- −$27.65
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$64.56
- Costs to cover
- 0.467%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 4 min ago; Deribit: live order book, 33 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 | 3.45 bp | 14.5 bp −$15 | 24.7 bp −$247 | 41.4 bp −$4,138 | doesn't fit |
| Sell Deribit live order book, 33 min ago | 4.98 bp | 9.5 bp −$9 | 15.8 bp −$158 | 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 | −0.0243% | 8h | 0.1017 | −0.069% | $155.1M | $268.2M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.1020 | +0.196% | $425K | $4.7M | 2.8x | as long as short |
| Deribit DOGE_USDC-PERPETUALshort | 0.0000% | 1h | 0.1018 | +0.027% | $612K | $109K | 25x | |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.1018 | −0.023% | $24K | — | 150x | as long as short |
| Gate DOGE_USDT | +0.0080% | 8h | 0.1018 | −0.010% | $245.9M | $125.9M | 75x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.1020 | +0.239% | $788K | $5.4M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0097% | 8h | 0.1018 | 0.000% | $1K | $388K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1018 | −0.015% | $607K | $898K | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.1018 | +0.020% | $5.1M | $45.1M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.1020 | +0.211% | $340K | $506K | 20x | as long as short |
Bitget DOGEUSDT
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
Gate DOGE_USDT
Lighter DOGE
Katana Perps DOGE-USD
Nado DOGE-PERP
Aster DOGEUSDT
Pacifica DOGEShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance DOGEUSDT | +0.0100% | 8h | 0.1018 | +0.029% | $325.1M | $1.35B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.1018 | −0.020% | $160.6M | $429.0M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1018 | +0.029% | $111.0M | $958.1M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.1019 | +0.069% | $32K | $80K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.1015 | −0.334% | $389K | $12K | 10x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1018 | +0.029% | $114.6M | $219.7M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1018 | +0.020% | $67.0M | $41.6M | 75x | as long as short |
| BingX DOGE-USDC | +0.0100% | 8h | 0.1018 | +0.010% | — | $3.4M | — | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.1018 | +0.051% | $1.1M | $8.1M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1013 | −0.511% | $278K | $117.8M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1012 | −0.532% | $641K | $4.6M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1012 | −0.580% | $148K | $249K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.1017 | −0.039% | $263K | $555K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.1018 | +0.020% | $74K | $433K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1018 | +0.008% | $25K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1018 | +0.019% | $36K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1018 | +0.020% | $2K | $3.6M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1018 | +0.034% | $6.1M | $51.3M | 75x | as long as short |
| Phemex DOGEUSDTlong | +0.0100% | 8h | 0.1018 | long leg | $94.2M | $19.2M | 50x | |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.1019 | +0.081% | $18K | $5K | 30x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0103% | 1h | 0.1018 | −0.010% | $6.1M | $33.1M | 50x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1018 | −0.003% | $562K | $3.7M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1018 | +0.002% | $19K | — | 3x | as long as short |
| dYdX DOGE-USD | +0.0106% | 1h | 0.1019 | +0.155% | $229K | $44K | 10x | as long as short |
| Reya DOGERUSDPERP | +0.0178% | 1h | 0.1018 | +0.006% | $2K | — | 20x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.1014 | −0.383% | $15.4M | $25.5M | 75x | as long as short |
| Phoenix DOGE | +0.0239% | 1h | 0.1015 | −0.280% | $67K | $281K | 10x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0240% | 1h | 0.1018 | +0.059% | $2.1M | $24.5M | 50x | as long as short |
| 01 Exchange DOGEUSD | +0.0248% | 1h | 0.1018 | +0.013% | $538 | $4K | 10x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0253% / S −0.0291% | 1h | 0.1018 | −0.028% | $334K | — | 200x | as long as short |
| Backpack DOGE_USDC_PERP | +0.0469% | 1h | 0.1019 | +0.069% | $544K | $963K | 15x | as long as short |
| RISEx DOGE/USDC | +0.0708% | 1h | 0.1018 | +0.054% | $319K | $475K | 10x | as long as short |
| Hyperliquid DOGE | +0.0948% | 1h | 0.1020 | +0.177% | $119.0M | $87.8M | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1039% | 1h | 0.1021 | +0.305% | $5K | $239K | 12x | as long as short |
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Arcus DOGE-USD
Bulk DOGE-USD
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
Paradex DOGE-USD-PERP
Kraken Futures PF_DOGEUSD
Extended DOGE-USD
Aevo DOGE-PERP
dYdX DOGE-USD
Reya DOGERUSDPERP
BloFin DOGE-USDT
Phoenix DOGE
Coinbase International DOGE-PERP-INTX
01 Exchange DOGEUSD
GMX DOGE/USD [ETH-USDC]
Backpack DOGE_USDC_PERP
RISEx DOGE/USDC
Hyperliquid DOGE
Injective DOGE/USDC PERP