Funding you earn now, next payment 05:00 UTC−0.0216%/8h= −23.6% APRnext payment −$0.27 per $10,000 · paid last 24h −0.010%
Price spread now: dYdX against Phoenix−0.124%7-day average −0.054% · you buy dearer than you sell
Net, funding: paid 7d − costs−$90as in the Funding arb table
Net, price: spread back to 7d avg − costs−$108as in the Price arb table
costs, in and out, $10k−$1011.008% of the position
Funding, last 7 days+0.112%+$11 on $10k
+Price spread, last 4 days (all we have)−0.047%−$5 · spread now −0.124%, 7d avg −0.054%
=Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and dYdX is 0.069% cheaper against Phoenix than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.054%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.112%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.112% in total (about 5.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.27 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix DOGE | 0.1001 | 0.0240 | pay 0.0030% / 1h | 2m 58s | $18K | $382K | 10x |
| Short | dYdX DOGE-USD | 0.1000 | 0.0024 | get 0.0003% / 1h | 2m 58s | $225K | $69K | 10x |
Phoenix DOGE
dYdX DOGE-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
dYdX against Phoenix. 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
- −$45.32
- Price spread: −0.124% → −0.054%
- −$6.95
- Slippage, 4 orders
- −$83.79
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee dYdX: 5 bp × 2 orders
- −$10
- Net
- −$153.06
- Costs to cover
- 1.008%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 40 min ago; dYdX: live order book, 46 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 Phoenix live order book, 40 min ago | 1.00 bp | 12.4 bp −$12 | 50.8 bp −$508 | doesn't fit | doesn't fit |
| Sell dYdX live order book, 46 min ago | 23.51 bp | 47.5 bp −$48 | 80.4 bp −$804 | 92.2 bp −$9,225 | 100.6 bp −$50.3K |
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 | 0.1001 | −0.059% | $597K | $6.5M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.1001 | −0.076% | $34K | — | 150x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0002% | 1h | 0.1002 | +0.013% | $5.6M | $40.3M | 50x | as long as short |
| dYdX DOGE-USDshort | +0.0024% | 1h | 0.1000 | −0.124% | $225K | $69K | 10x | |
| Polymarket Perps DOGE-USD | +0.0041% | 1h | 0.10000 | −0.141% | $268K | $1.2M | 10x | as long as short |
| Bitget DOGEUSDT | +0.0094% | 8h | 0.1000 | −0.099% | $142.9M | $343.4M | 75x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.1002 | +0.097% | $856K | $6.8M | 15x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1000 | −0.119% | $540K | $1.1M | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.1001 | −0.012% | $4.4M | $58.1M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.1001 | −0.039% | $320K | $514K | 20x | as long as short |
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
Kraken Futures PF_DOGEUSD
Polymarket Perps DOGE-USD
Bitget DOGEUSDT
Lighter DOGE
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 | 0.1001 | +0.005% | $329.1M | $1.70B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.1001 | −0.069% | $165.7M | $519.9M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1001 | −0.019% | $118.1M | $1.19B | 50x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09955 | −0.590% | $382K | $16K | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.1001 | −0.039% | $248.7M | $155.4M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1001 | +0.001% | $112.3M | $257.7M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1001 | −0.019% | $66.5M | $50.0M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.1002 | +0.011% | — | $80.7M | — | as long as short |
| Backpack DOGE_USDC_PERP | +0.0100% | 1h | 0.1002 | +0.011% | $315K | $1.3M | 15x | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.1002 | +0.048% | $1.1M | $8.7M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1001 | 0.000% | $314K | $139.9M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1002 | +0.021% | $638K | $4.7M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1002 | +0.061% | $150K | $346K | 25x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.1001 | −0.019% | $64K | $478K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1001 | −0.039% | $19K | $7K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1001 | −0.032% | $35K | $2.3M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1002 | +0.021% | $2K | $5.3M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1001 | −0.020% | $5.9M | $68.5M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.1001 | +0.001% | $92.0M | $17.0M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.1001 | −0.070% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1001 | −0.044% | $487K | $4.1M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1001 | −0.024% | $19K | — | 3x | as long as short |
| Katana Perps DOGE-USD | +0.0110% | 8h | 0.1000 | −0.099% | $1K | $527K | 10x | as long as short |
| Hyperliquid DOGE | +0.0115% | 1h | 0.1002 | +0.101% | $124.2M | $116.3M | 10x | as long as short |
| Reya DOGERUSDPERP | +0.0196% | 1h | 0.1000 | −0.108% | $2K | — | 20x | as long as short |
| 01 Exchange DOGEUSD | +0.0200% | 1h | 0.1001 | −0.022% | $445 | $4K | 10x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.1002 | +0.021% | $16.1M | $27.1M | 75x | as long as short |
| Arcus DOGE-USD | +0.0231% | 1h | 0.1001 | −0.059% | $27K | $300K | 10x | as long as short |
| Phoenix DOGElong | +0.0240% | 1h | 0.1001 | long leg | $18K | $382K | 10x | |
| GMX DOGE/USD [ETH-USDC] | L +0.0250% / S −0.0294% | 1h | 0.1001 | −0.077% | $316K | — | 200x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0279% | 1h | 0.1002 | +0.032% | $575K | $252K | 25x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0304% | 1h | 0.1001 | −0.079% | $2.0M | $34.5M | 50x | as long as short |
| RISEx DOGE/USDC | +0.0686% | 1h | 0.1001 | −0.009% | $405K | $453K | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1217% | 1h | 0.1053 | +5.154% | $6K | $242K | 12x | as long as short |
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
Phemex DOGEUSDT
Paradex DOGE-USD-PERP
Extended DOGE-USD
Aevo DOGE-PERP
Katana Perps DOGE-USD
Hyperliquid DOGE
Reya DOGERUSDPERP
01 Exchange DOGEUSD
BloFin DOGE-USDT
Arcus DOGE-USD
GMX DOGE/USD [ETH-USDC]
Deribit DOGE_USDC-PERPETUAL
Coinbase International DOGE-PERP-INTX
RISEx DOGE/USDC
Injective DOGE/USDC PERP