Funding arb · Price arb /

DOGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Kalshi against SoDEX−0.018%7-day average −0.034% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$320.316% of the position

Long on SoDEX Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.100%−$10 on $10k

Price spread, last 4 days (all we have)0.000%$0 · spread now −0.018%, 7d avg −0.034%

Together, before fees−0.100%−$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.034%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX DOGE-USD	0.09882	0.0100	pay 0.0013% / 1h	39m 49s	$2K	$5.4M	10x
Short	Kalshi KXDOGEPERP	0.09880	0	get 0.0000% / 8h	2h 39m	$493K	$6.5M	2.8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against SoDEX. 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 SoDEXbpFee KalshibpOrdersPrice spread, now −0.018%Rate

Funding earned: −$21
Price spread: −0.018% → −0.034%: $1.57
Slippage, 4 orders: −$13.55
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$50.98
Costs to cover: 0.316%
Break-even: never at this rate

Slippage from SoDEX: live order book, 2 min ago; Kalshi: live order book, 2 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 SoDEX live order book, 2 min ago	0.51 bp	4.5 bp −$5	8.1 bp −$81	138.5 bp −$13.9K	doesn't fit
Sell Kalshi live order book, 2 min ago	3.70 bp	10.9 bp −$11	17.1 bp −$171	33.3 bp −$3,328	doesn't fit

DOGE on 43 exchanges

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	−0.0052%	1h	0.09882	−0.002%	$5.3M	$40.6M	50x	as long as short
Bitget DOGEUSDT	−0.0033%	8h	0.09865	−0.172%	$139.3M	$348.5M	75x	as long as short
Kalshi KXDOGEPERPshort	0.0000%	8h	0.09880	−0.018%	$493K	$6.5M	2.8x
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.09861	−0.215%	$33K	—	150x	as long as short
Gate DOGE_USDT	+0.0008%	8h	0.09872	−0.101%	$252.0M	$147.1M	75x	as long as short
Injective DOGE/USDC PERP	+0.0033%	1h	0.1053	+6.557%	$6K	$240K	12x	as long as short
Deribit DOGE_USDC-PERPETUAL	+0.0074%	1h	0.09885	+0.029%	$553K	$298K	25x	as long as short
Bybit DOGEUSDT	+0.0089%	8h	0.09869	−0.132%	$166.0M	$520.3M	75x	as long as short
Lighter DOGE	+0.0096%	1h	0.09889	+0.072%	$817K	$6.5M	15x	as long as short
Katana Perps DOGE-USD	+0.0100%	8h	0.09877	−0.051%	$948	$547K	10x	as long as short

Show all 43 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado DOGE-PERP	+0.0100%	1h	0.09872	−0.101%	$507K	$1.1M	10x	as long as short
Hyperliquid DOGE	+0.0100%	1h	0.09886	+0.040%	$122.5M	$115.3M	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.09876	−0.057%	$4.9M	$58.7M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.09877	−0.056%	$316K	$481K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.09876	−0.057%	$326.2M	$1.68B	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.09872	−0.101%	$115.6M	$1.16B	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.09881	−0.010%	$17K	$307K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.09849	−0.329%	$376K	$2K	10x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.09877	−0.051%	$111.8M	$255.8M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.09877	−0.051%	$65.7M	$48.5M	75x	as long as short
BingX DOGE-USDT	+0.0100%	8h	0.09874	−0.081%	—	$49.7M	—	as long as short
Backpack DOGE_USDC_PERP	+0.0100%	1h	0.09876	−0.061%	$317K	$1.3M	15x	as long as short
Variational Omni DOGE	+0.0100%	8h	0.09868	−0.138%	$1.1M	$8.2M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.09859	−0.234%	$258K	$135.4M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.09860	−0.223%	$629K	$4.0M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.09860	−0.223%	$140K	$346K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.09876	−0.065%	$246K	$1.2M	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.09881	−0.010%	$71K	$440K	50x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.09887	+0.048%	$35K	$2.1M	30x	as long as short
SoDEX DOGE-USDlong	+0.0100%	1h	0.09882	long leg	$2K	$5.4M	10x
HTX DOGE-USDT	+0.0100%	8h	0.09892	+0.098%	$6.0M	$67.7M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.09882	0.000%	$90.2M	$16.1M	50x	as long as short
Paradex DOGE-USD-PERP	+0.0100%	8h	0.09862	−0.198%	$18K	$5K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.09873	−0.095%	$482K	$4.0M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.09881	−0.013%	$19K	—	3x	as long as short
01 Exchange DOGEUSD	+0.0136%	1h	0.09886	+0.038%	$455	$4K	10x	as long as short
Phoenix DOGE	+0.0161%	1h	0.09871	−0.111%	$18K	$355K	10x	as long as short
Reya DOGERUSDPERP	+0.0204%	1h	0.09876	−0.063%	$2K	—	20x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0211% / S −0.0198%	1h	0.09878	−0.038%	$277K	—	200x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.09872	−0.101%	$15.4M	$26.7M	75x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0240%	1h	0.09885	+0.030%	$2.2M	$35.2M	50x	as long as short
dYdX DOGE-USD	+0.0279%	1h	0.09874	−0.076%	$232K	$69K	10x	as long as short
RISEx DOGE/USDC	+0.0565%	1h	0.09889	+0.066%	$410K	$454K	10x	as long as short