Funding you earn now, next payment 08:00 UTC+0.0073%/8h= +8.0% APRpaid last 24h +0.001%
Price spread now: Phemex against Polymarket Perps+0.131%46s7-day average +0.036% · you sell dearer than you buy
Net, funding: paid 7d − costs−$13as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$460.462% of the position
Funding, last 7 days+0.331%+$33 on $10k
+Price spread, last 4 days (all we have)−0.134%−$13 · spread now +0.131%, 7d avg +0.036%
=Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Phemex is 0.095% dearer against Polymarket Perps than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.036%. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Polymarket Perps DOGE-USD | 0.09892 | 0.0027 | pay 0.0003% / 1h | 35m 30s | $257K | $1.2M | 10x |
| Short | Phemex DOGEUSDT | 0.09905 | 0.0100 | get 0.0100% / 8h | 35m 30s | $90.7M | $16.8M | 50x |
Polymarket Perps DOGE-USD
Phemex DOGEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Polymarket Perps. 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
- $15.39
- Price spread: +0.131% → +0.036%
- $9.53
- Slippage, 4 orders
- −$26.25
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$21.33
- Costs to cover
- 0.462%
- Break-even
- 16.7 days
Slippage from Polymarket Perps: live order book, 3 min ago; Phemex: live order book, 4 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 Polymarket Perps live order book, 3 min ago | 3.23 bp | 8.4 bp −$8 | 11.9 bp −$119 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 4 min ago | 3.02 bp | 11.3 bp −$11 | 18.2 bp −$182 | 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 | −0.0060% | 1h | 0.09904 | +0.123% | $5.6M | $40.8M | 50x | as long as short |
| dYdX DOGE-USD | 0.0000% | 1h | 0.09899 | +0.071% | $222K | $69K | 10x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.09907 | +0.150% | $579K | $6.6M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.09902 | +0.099% | $35K | — | 150x | as long as short |
| Bitget DOGEUSDT | +0.0018% | 8h | 0.09892 | 0.000% | $140.1M | $347.4M | 75x | as long as short |
| Polymarket Perps DOGE-USDlong | +0.0027% | 1h | 0.09892 | long leg | $257K | $1.2M | 10x | |
| Injective DOGE/USDC PERP | +0.0033% | 1h | 0.1053 | +6.450% | $6K | $242K | 12x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.09913 | +0.208% | $832K | $6.8M | 15x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.09897 | +0.051% | $535K | $1.1M | 10x | as long as short |
| Hyperliquid DOGE | +0.0100% | 1h | 0.09904 | +0.126% | $123.3M | $117.2M | 10x | as long as short |
Kraken Futures PF_DOGEUSD
dYdX DOGE-USD
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
Bitget DOGEUSDT
Injective DOGE/USDC PERP
Lighter DOGE
Nado DOGE-PERP
Hyperliquid DOGEShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster DOGEUSDT | +0.0100% | 8h | 0.09898 | +0.061% | $4.5M | $59.0M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.09905 | +0.130% | $317K | $504K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.09899 | +0.073% | $326.9M | $1.72B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09893 | +0.010% | $164.0M | $525.5M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09899 | +0.071% | $115.2M | $1.20B | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.09895 | +0.030% | $17K | $308K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09910 | +0.182% | $381K | $15K | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.09894 | +0.020% | $248.0M | $156.8M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09901 | +0.091% | $116.8M | $258.6M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09899 | +0.071% | $65.9M | $49.9M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.09897 | +0.051% | — | $53.3M | — | as long as short |
| Backpack DOGE_USDC_PERP | +0.0100% | 1h | 0.09903 | +0.111% | $300K | $1.3M | 15x | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.09895 | +0.026% | $1.0M | $8.7M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.09909 | +0.173% | $301K | $139.9M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.09929 | +0.369% | $625K | $4.6M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.09910 | +0.182% | $142K | $344K | 25x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.09903 | +0.111% | $71K | $471K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.09906 | +0.146% | $18K | $7K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09905 | +0.133% | $35K | $2.3M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.09902 | +0.101% | $2K | $5.5M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09903 | +0.114% | $5.9M | $69.1M | 75x | as long as short |
| Phemex DOGEUSDTshort | +0.0100% | 8h | 0.09905 | +0.131% | $90.7M | $16.8M | 50x | |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.09902 | +0.104% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09897 | +0.053% | $485K | $4.1M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.09904 | +0.121% | $19K | — | 3x | as long as short |
| Katana Perps DOGE-USD | +0.0107% | 8h | 0.09895 | +0.030% | $827 | $540K | 10x | as long as short |
| Phoenix DOGE | +0.0160% | 1h | 0.09908 | +0.165% | $18K | $382K | 10x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0174% | 1h | 0.09908 | +0.161% | $568K | $252K | 25x | as long as short |
| Reya DOGERUSDPERP | +0.0199% | 1h | 0.09896 | +0.040% | $2K | — | 20x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0216% | 1h | 0.09909 | +0.172% | $1.9M | $34.9M | 50x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.09909 | +0.172% | $15.3M | $26.9M | 75x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0250% / S −0.0297% | 1h | 0.09903 | +0.106% | $312K | — | 200x | as long as short |
| 01 Exchange DOGEUSD | +0.0256% | 1h | 0.09901 | +0.089% | $440 | $4K | 10x | as long as short |
| RISEx DOGE/USDC | +0.0731% | 1h | 0.09902 | +0.104% | $403K | $462K | 10x | as long as short |
Aster DOGEUSDT
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Arcus DOGE-USD
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
Phoenix DOGE
Deribit DOGE_USDC-PERPETUAL
Reya DOGERUSDPERP
Coinbase International DOGE-PERP-INTX
BloFin DOGE-USDT
GMX DOGE/USD [ETH-USDC]
01 Exchange DOGEUSD
RISEx DOGE/USDC