Funding you earn now, next payment 07:00 UTC−0.0054%/8h= −5.9% APRpaid last 24h −0.001%
Price spread now: Polymarket Perps against Phemex+0.040%7-day average −0.036% · you sell dearer than you buy
Net, funding: paid 7d − costs−$74as in the Funding arb table
Net, price: spread back to 7d avg − costs−$33as in the Price arb table
costs, in and out, $10k−$410.409% of the position
Funding, last 7 days−0.333%−$33 on $10k
+Price spread, last 4 days (all we have)−0.059%−$6 · spread now +0.040%, 7d avg −0.036%
=The price spread pays, funding is against you. Polymarket Perps is 0.076% dearer against Phemex than usual: you sell high and buy low (spread +0.040% now, against its 7-day average of −0.036%): +$8 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.7 days. At the pace of the last 7 days (−0.333% in total) that is about 38 hours.
| 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 25m | $91.9M | $16.9M | 50x |
| Short | Polymarket Perps DOGE-USD | 0.1002 | 0.0046 | get 0.0006% / 1h | 25m 16s | $263K | $1.2M | 10x |
Phemex DOGEUSDT
Polymarket Perps DOGE-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Polymarket Perps 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
- −$11.39
- Price spread: +0.040% → −0.036%
- $7.6
- Slippage, 4 orders
- −$20.86
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$44.64
- Costs to cover
- 0.409%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 4 min ago; Polymarket Perps: live order book, 3 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 | 0.50 bp | 13.2 bp −$13 | 18.8 bp −$188 | doesn't fit | doesn't fit |
| Sell Polymarket Perps live order book, 3 min ago | 3.10 bp | 7.1 bp −$7 | 7.1 bp −$71 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_DOGEUSD | −0.0082% | 1h | 0.1002 | +0.040% | $5.6M | $40.5M | 50x | as long as short |
| dYdX DOGE-USD | 0.0000% | 1h | 0.1002 | +0.027% | $225K | $69K | 10x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.1002 | +0.056% | $613K | $6.6M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.1002 | −0.003% | $36K | — | 150x | as long as short |
| Injective DOGE/USDC PERP | +0.0033% | 1h | 0.1053 | +5.132% | $6K | $242K | 12x | as long as short |
| Polymarket Perps DOGE-USDshort | +0.0046% | 1h | 0.1002 | +0.040% | $263K | $1.2M | 10x | |
| Bitget DOGEUSDT | +0.0060% | 8h | 0.1000 | −0.130% | $142.1M | $344.3M | 75x | as long as short |
| Phoenix DOGE | +0.0080% | 1h | 0.09997 | −0.193% | $18K | $382K | 10x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.1002 | +0.089% | $848K | $6.8M | 15x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1002 | +0.025% | $541K | $1.1M | 10x | as long as short |
Kraken Futures PF_DOGEUSD
dYdX DOGE-USD
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
Injective DOGE/USDC PERP
Bitget DOGEUSDT
Phoenix DOGE
Lighter DOGE
Nado DOGE-PERPShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster DOGEUSDT | +0.0100% | 8h | 0.1002 | +0.036% | $4.5M | $58.5M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.1002 | −0.006% | $320K | $500K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.1002 | +0.016% | $329.9M | $1.72B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.1001 | −0.060% | $165.5M | $520.8M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1001 | −0.030% | $117.7M | $1.21B | 50x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09990 | −0.260% | $384K | $16K | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.1002 | +0.020% | $250.5M | $156.5M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1002 | −0.010% | $111.4M | $258.1M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1002 | −0.010% | $66.7M | $50.1M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.1001 | −0.040% | — | $80.7M | — | as long as short |
| Backpack DOGE_USDC_PERP | +0.0100% | 1h | 0.1001 | −0.040% | $302K | $1.3M | 15x | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.1001 | −0.022% | $1.1M | $8.7M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1000 | −0.156% | $303K | $140.1M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1001 | −0.079% | $631K | $4.7M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1000 | −0.160% | $150K | $338K | 25x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.1002 | +0.030% | $66K | $467K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.09967 | −0.493% | $19K | $7K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1002 | +0.075% | $35K | $2.3M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1002 | +0.030% | $2K | $5.4M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1002 | +0.026% | $5.9M | $68.8M | 75x | as long as short |
| Phemex DOGEUSDTlong | +0.0100% | 8h | 0.1002 | long leg | $91.9M | $16.9M | 50x | |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.1001 | −0.021% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1001 | −0.024% | $488K | $4.1M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1002 | +0.036% | $19K | — | 3x | as long as short |
| Katana Perps DOGE-USD | +0.0108% | 8h | 0.1002 | +0.010% | $837 | $536K | 10x | as long as short |
| Hyperliquid DOGE | +0.0133% | 1h | 0.1002 | +0.030% | $124.4M | $116.5M | 10x | as long as short |
| Reya DOGERUSDPERP | +0.0197% | 1h | 0.1002 | +0.038% | $2K | — | 20x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.1002 | 0.000% | $16.3M | $27.1M | 75x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0240% | 1h | 0.1003 | +0.110% | $1.9M | $35.0M | 50x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0250% / S −0.0297% | 1h | 0.1001 | −0.090% | $315K | — | 200x | as long as short |
| 01 Exchange DOGEUSD | +0.0264% | 1h | 0.1003 | +0.141% | $446 | $4K | 10x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0289% | 1h | 0.1002 | +0.060% | $575K | $252K | 25x | as long as short |
| Arcus DOGE-USD | +0.0387% | 1h | 0.1002 | +0.050% | $19K | $306K | 10x | as long as short |
| RISEx DOGE/USDC | +0.0626% | 1h | 0.1003 | +0.096% | $404K | $458K | 10x | as long as short |
Aster DOGEUSDT
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Bulk DOGE-USD
Gate DOGE_USDT
MEXC DOGE_USDT
KuCoin DOGEUSDTM
BingX DOGE-USDT
Backpack DOGE_USDC_PERP
Variational Omni DOGE
edgeX DOGEUSDC
GRVT DOGE_USDT_Perp
ApeX Omni DOGEUSDT
Orderly PERP_DOGE_USDC
Derive DOGE-PERP
SunX DOGE-USDT
SoDEX DOGE-USD
HTX DOGE-USDT
Paradex DOGE-USD-PERP
Extended DOGE-USD
Aevo DOGE-PERP
Katana Perps DOGE-USD
Hyperliquid DOGE
Reya DOGERUSDPERP
BloFin DOGE-USDT
Coinbase International DOGE-PERP-INTX
GMX DOGE/USD [ETH-USDC]
01 Exchange DOGEUSD
Deribit DOGE_USDC-PERPETUAL
Arcus DOGE-USD
RISEx DOGE/USDC