Funding you earn now, next payment 22:00 UTC−0.0019%/8h= −2.1% APRnext payment −$0.02 per $10,000 · paid last 24h −0.021%
Price spread now: Phoenix against Polymarket Perps+0.159%59s7-day average +0.043% · you sell dearer than you buy
Net, funding: paid 7d − costs−$28as 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−$420.416% of the position
Funding, last 7 days+0.139%+$14 on $10k
+Price spread, last 3 days (all we have)−0.108%−$11 · spread now +0.159%, 7d avg +0.043%
=The price spread pays, funding is against you. Phoenix is 0.116% dearer against Polymarket Perps than usual: you sell high and buy low (spread +0.159% now, against its 7-day average of +0.043%): +$12 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 20 days. Mind the row above: over the last 7 days funding on this pair paid +0.139%, so the current rate has only just turned against you. The two prices were read 59 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 | 0.1001 | 0.0100 | pay 0.0013% / 1h | 8m 27s | $267K | $541K | 10x |
| Short | Phoenix DOGE | 0.1002 | 0.0081 | get 0.0010% / 1h | 8m 27s | $66K | $222K | 10x |
Polymarket Perps DOGE-USD
Phoenix DOGEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- −$4.09
- Price spread: +0.159% → +0.043%
- $11.56
- Slippage, 4 orders
- −$26.55
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$34.08
- Costs to cover
- 0.416%
- Break-even
- never at this rate
Slippage from Polymarket Perps: live order book, 9 min ago; Phoenix: 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, 9 min ago | 3.49 bp | 9.4 bp −$9 | 9.9 bp −$99 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 4 min ago | 1.00 bp | 12.3 bp −$12 | 43.0 bp −$430 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget DOGEUSDT | −0.0258% | 8h | 0.1000 | −0.050% | $152.8M | $266.8M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.1004 | +0.305% | $415K | $4.7M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S −0.0001% | 1h | 0.1001 | −0.020% | $32K | — | 150x | as long as short |
| dYdX DOGE-USD | +0.0037% | 1h | 0.1003 | +0.216% | $225K | $44K | 10x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0049% | 1h | 0.1003 | +0.274% | $608K | $109K | 25x | as long as short |
| Phoenix DOGEshort | +0.0081% | 1h | 0.1002 | +0.159% | $66K | $222K | 10x | |
| Lighter DOGE | +0.0096% | 1h | 0.1003 | +0.255% | $790K | $5.4M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0097% | 8h | 0.1002 | +0.090% | $837 | $372K | 10x | as long as short |
| Gate DOGE_USDT | +0.0098% | 8h | 0.1002 | +0.110% | $241.3M | $125.1M | 75x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1001 | +0.005% | $569K | $863K | 10x | as long as short |
Bitget DOGEUSDT
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
dYdX DOGE-USD
Deribit DOGE_USDC-PERPETUAL
Lighter DOGE
Katana Perps DOGE-USD
Gate DOGE_USDT
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 | 0.1003 | +0.210% | $4.9M | $44.1M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.1003 | +0.242% | $334K | $504K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.1002 | +0.099% | $318.5M | $1.33B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.1001 | −0.020% | $158.5M | $421.2M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1001 | +0.020% | $109.2M | $931.0M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.1002 | +0.170% | $28K | $76K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.1003 | +0.212% | $384K | $12K | 10x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1001 | +0.020% | $111.4M | $218.1M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1002 | +0.080% | $65.9M | $41.1M | 75x | as long as short |
| BingX DOGE-USDC | +0.0100% | 8h | 0.1002 | +0.120% | — | $3.4M | — | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.1002 | +0.141% | $1.0M | $8.1M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1003 | +0.232% | $277K | $116.5M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1003 | +0.270% | $633K | $4.5M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1003 | +0.230% | $147K | $245K | 25x | as long as short |
| Polymarket Perps DOGE-USDlong | +0.0100% | 1h | 0.1001 | long leg | $267K | $541K | 10x | |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.1003 | +0.240% | $73K | $432K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1003 | +0.238% | $25K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1004 | +0.287% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1004 | +0.310% | $2K | $3.6M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1004 | +0.333% | $6.0M | $50.6M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.1004 | +0.290% | $92.9M | $19.2M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.1002 | +0.178% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1002 | +0.089% | $554K | $3.6M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1003 | +0.264% | $19K | — | 3x | as long as short |
| Reya DOGERUSDPERP | +0.0177% | 1h | 0.1001 | 0.000% | $2K | — | 20x | as long as short |
| 01 Exchange DOGEUSD | +0.0192% | 1h | 0.1002 | +0.140% | $529 | $4K | 10x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0216% | 1h | 0.1005 | +0.390% | $2.0M | $23.7M | 50x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.1003 | +0.240% | $15.3M | $25.0M | 75x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0248% / S −0.0216% | 1h | 0.1003 | +0.211% | $351K | — | 200x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0363% | 1h | 0.1004 | +0.307% | $5.9M | $32.8M | 50x | as long as short |
| Backpack DOGE_USDC_PERP | +0.0401% | 1h | 0.1004 | +0.340% | $536K | $959K | 15x | as long as short |
| Hyperliquid DOGE | +0.0504% | 1h | 0.1002 | +0.160% | $114.4M | $84.9M | 10x | as long as short |
| RISEx DOGE/USDC | +0.0702% | 1h | 0.1002 | +0.145% | $314K | $476K | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.0966% | 1h | 0.1006 | +0.530% | $5K | $239K | 12x | as long as short |
Aster DOGEUSDT
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Arcus DOGE-USD
Bulk DOGE-USD
MEXC DOGE_USDT
KuCoin DOGEUSDTM
BingX DOGE-USDC
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
Reya DOGERUSDPERP
01 Exchange DOGEUSD
Coinbase International DOGE-PERP-INTX
BloFin DOGE-USDT
GMX DOGE/USD [ETH-USDC]
Kraken Futures PF_DOGEUSD
Backpack DOGE_USDC_PERP
Hyperliquid DOGE
RISEx DOGE/USDC
Injective DOGE/USDC PERP