Funding arb · Price arb /

DOGE

all DOGE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: SoDEX against Phemex+0.061%7-day average −0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$300.298% of the position

Long on Phemex Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.058%−$6 · spread now +0.061%, 7d avg −0.016%

Together, before fees−0.061%−$6 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: SoDEX is 0.077% dearer against Phemex than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex DOGEUSDT	0.09892	0.0100	pay 0.0100% / 8h	2h 23m	$90.9M	$17.1M	50x
Short	SoDEX DOGE-USD	0.09898	0.0100	get 0.0013% / 1h	23m 33s	$2K	$5.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.061%Rate

Funding earned: $0
Price spread: +0.061% → −0.016%: $7.67
Slippage, 4 orders: −$9.84
Fee Phemex: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$22.17
Costs to cover: 0.298%
Break-even: never at this rate

Slippage from Phemex: live order book, 6 min ago; SoDEX: live order book, 1 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, 6 min ago	0.51 bp	10.9 bp −$11	16.9 bp −$169	doesn't fit	doesn't fit
Sell SoDEX live order book, 1 min ago	0.51 bp	4.5 bp −$5	8.1 bp −$81	145.9 bp −$14.6K	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
Kalshi KXDOGEPERP	0.0000%	8h	0.09892	−0.004%	$596K	$6.5M	2.8x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.09871	−0.217%	$33K	—	150x	as long as short
Kraken Futures PF_DOGEUSD	+0.0002%	1h	0.09898	+0.056%	$5.6M	$39.8M	50x	as long as short
Polymarket Perps DOGE-USD	+0.0028%	1h	0.09865	−0.276%	$266K	$1.2M	10x	as long as short
dYdX DOGE-USD	+0.0038%	1h	0.09880	−0.126%	$222K	$70K	10x	as long as short
Lighter DOGE	+0.0096%	1h	0.09888	−0.040%	$842K	$6.8M	15x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.09868	−0.243%	$534K	$1.1M	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.09876	−0.162%	$4.4M	$57.1M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.09881	−0.108%	$316K	$516K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.09876	−0.166%	$322.3M	$1.68B	75x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit DOGEUSDT	+0.0100%	8h	0.09872	−0.202%	$162.2M	$516.5M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.09873	−0.192%	$114.4M	$1.16B	50x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.09900	+0.081%	$380K	$16K	10x	as long as short
Gate DOGE_USDT	+0.0100%	8h	0.09875	−0.172%	$244.7M	$152.6M	75x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.09872	−0.202%	$108.5M	$254.2M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.09871	−0.212%	$65.4M	$49.5M	75x	as long as short
Bitget DOGEUSDT	+0.0100%	8h	0.09869	−0.233%	$132.5M	$333.5M	75x	as long as short
BingX DOGE-USDC	+0.0100%	8h	0.09877	−0.152%	—	$3.5M	—	as long as short
Backpack DOGE_USDC_PERP	+0.0100%	1h	0.09888	−0.040%	$295K	$1.3M	15x	as long as short
Variational Omni DOGE	+0.0100%	8h	0.09866	−0.264%	$1.0M	$8.7M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.09861	−0.314%	$302K	$138.8M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.09908	+0.163%	$629K	$4.7M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.09860	−0.323%	$146K	$341K	25x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.09896	+0.040%	$63K	$469K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.09896	+0.042%	$18K	$7K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.09904	+0.120%	$35K	$2.3M	30x	as long as short
SoDEX DOGE-USDshort	+0.0100%	1h	0.09898	+0.061%	$2K	$5.3M	10x
HTX DOGE-USDT	+0.0100%	8h	0.09888	−0.041%	$5.9M	$68.0M	75x	as long as short
Phemex DOGEUSDTlong	+0.0100%	8h	0.09892	long leg	$90.9M	$17.1M	50x
Paradex DOGE-USD-PERP	+0.0100%	8h	0.09879	−0.131%	$18K	$5K	30x	as long as short
Hyperliquid DOGE	+0.0100%	1h	0.09879	−0.128%	$122.6M	$115.4M	10x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.09866	−0.268%	$480K	$4.1M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.09899	+0.066%	$19K	—	3x	as long as short
Katana Perps DOGE-USD	+0.0112%	8h	0.09864	−0.283%	$824	$524K	10x	as long as short
01 Exchange DOGEUSD	+0.0192%	1h	0.09876	−0.158%	$439	$4K	10x	as long as short
Reya DOGERUSDPERP	+0.0195%	1h	0.09869	−0.230%	$2K	—	20x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.09907	+0.152%	$16.0M	$26.7M	75x	as long as short
Arcus DOGE-USD	+0.0231%	1h	0.09879	−0.131%	$27K	$299K	10x	as long as short
Phoenix DOGE	+0.0240%	1h	0.09861	−0.312%	$18K	$382K	10x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0250% / S −0.0286%	1h	0.09886	−0.062%	$316K	—	200x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0304%	1h	0.09893	+0.010%	$1.9M	$33.9M	50x	as long as short
Deribit DOGE_USDC-PERPETUAL	+0.0336%	1h	0.09902	+0.099%	$563K	$247K	25x	as long as short
RISEx DOGE/USDC	+0.0686%	1h	0.09876	−0.162%	$398K	$444K	10x	as long as short
Injective DOGE/USDC PERP	+0.1217%	1h	0.1053	+6.450%	$6K	$242K	12x	as long as short