Funding arb · Price arb /

DOGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: Derive against Phemex+0.005%7-day average — · you sell dearer than you buy

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

Long on Phemex Short on Derive

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex DOGEUSDT	0.1002	0.0100	pay 0.0100% / 8h	1h 05m	$92.8M	$19.2M	50x
Short	Derive DOGE-PERP	0.1002	0.0100	get 0.0013% / 1h	5m 03s	$25K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against Phemex. 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 PhemexbpFee DerivebpOrdersPrice spread, now +0.005%Rate

Funding earned: $0
Price spread: +0.005% → 0.000%: $0.46
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Derive: 3 bp × 2 orders: −$6
Net: −$17.54
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 4 min ago; Derive: 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 Phemex live order book, 4 min ago	1.99 bp	10.7 bp −$11	15.4 bp −$154	35.2 bp −$3,521	doesn't fit
Sell Derive no order-book sample	—	—	—	—	—

Derive: 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
Bitget DOGEUSDT	−0.0257%	8h	0.1001	−0.070%	$152.9M	$266.8M	75x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.1002	+0.042%	$415K	$4.7M	2.8x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S −0.0001%	1h	0.1002	−0.008%	$32K	—	150x	as long as short
Deribit DOGE_USDC-PERPETUAL	+0.0029%	1h	0.1002	+0.029%	$607K	$109K	25x	as long as short
dYdX DOGE-USD	+0.0051%	1h	0.1001	−0.049%	$225K	$44K	10x	as long as short
Phoenix DOGE	+0.0081%	1h	0.1004	+0.197%	$66K	$222K	10x	as long as short
Lighter DOGE	+0.0096%	1h	0.1003	+0.067%	$789K	$5.4M	15x	as long as short
Katana Perps DOGE-USD	+0.0097%	8h	0.1002	+0.020%	$837	$372K	10x	as long as short
Gate DOGE_USDT	+0.0097%	8h	0.1002	−0.040%	$241.2M	$125.4M	75x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.1002	−0.030%	$570K	$864K	10x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster DOGEUSDT	+0.0100%	8h	0.1002	+0.020%	$4.9M	$44.2M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.1002	+0.044%	$334K	$504K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.1002	−0.002%	$318.7M	$1.33B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.1002	−0.010%	$158.9M	$421.7M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.1002	+0.020%	$109.2M	$932.9M	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.1003	+0.060%	$28K	$76K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.1003	+0.092%	$384K	$12K	10x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.1002	+0.020%	$111.6M	$218.4M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.1002	0.000%	$66.0M	$41.2M	75x	as long as short
BingX DOGE-USDC	+0.0100%	8h	0.1002	−0.020%	—	$3.4M	—	as long as short
Variational Omni DOGE	+0.0100%	8h	0.1003	+0.151%	$1.0M	$8.1M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.1002	−0.010%	$275K	$116.8M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.1003	+0.130%	$639K	$4.6M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.1003	+0.110%	$147K	$245K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.1002	−0.010%	$264K	$546K	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.1002	+0.010%	$73K	$432K	50x	as long as short
Derive DOGE-PERPshort	+0.0100%	1h	0.1002	+0.005%	$25K	$1K	10x
SunX DOGE-USDT	+0.0100%	8h	0.1003	+0.061%	$35K	$2.2M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.1002	+0.020%	$2K	$3.6M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.1002	+0.031%	$6.0M	$50.7M	75x	as long as short
Phemex DOGEUSDTlong	+0.0100%	8h	0.1002	long leg	$92.8M	$19.2M	50x
Paradex DOGE-USD-PERP	+0.0100%	8h	0.1002	+0.005%	$18K	$5K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.1002	−0.014%	$554K	$3.6M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.1007	+0.491%	$19K	—	3x	as long as short
Reya DOGERUSDPERP	+0.0177%	1h	0.1002	+0.020%	$2K	—	20x	as long as short
01 Exchange DOGEUSD	+0.0192%	1h	0.1003	+0.060%	$529	$4K	10x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0216%	1h	0.1002	+0.040%	$2.0M	$23.7M	50x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.1002	+0.020%	$15.3M	$25.0M	75x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0245% / S −0.0209%	1h	0.1002	−0.017%	$344K	—	200x	as long as short
Kraken Futures PF_DOGEUSD	+0.0364%	1h	0.1002	+0.004%	$6.0M	$32.9M	50x	as long as short
Backpack DOGE_USDC_PERP	+0.0406%	1h	0.1003	+0.070%	$535K	$959K	15x	as long as short
Hyperliquid DOGE	+0.0523%	1h	0.1003	+0.151%	$114.5M	$85.0M	10x	as long as short
RISEx DOGE/USDC	+0.0702%	1h	0.1003	+0.069%	$314K	$476K	10x	as long as short
Injective DOGE/USDC PERP	+0.0966%	1h	0.1004	+0.210%	$5K	$239K	12x	as long as short