Funding you earn now, next payment 08:00 UTC−0.0019%/8h= −2.1% APRnext payment −$0.02 per $10,000 · paid last 24h −0.021%
Price spread now: Phoenix against Arcus+0.210%49s7-day average +0.033% · 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—prices read too far apart to compare
costs, in and out, $10k−$400.405% of the position
Funding, last 4 days (all we have)−0.089%−$9 on $10k
+Price spread, last 4 days (all we have)+0.117%+$12 · spread now +0.210%, 7d avg +0.033%
=The price spread pays, funding is against you. Phoenix is 0.177% dearer against Arcus than usual: you sell high and buy low (spread +0.210% now, against its 7-day average of +0.033%): +$18 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 31 days. At the pace of the last 4 days (−0.089% in total) that is about 7.5 days. The two prices were read 49 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 | Arcus DOGE-USD | 0.09931 | 0.0100 | pay 0.0013% / 1h | 55m 59s | $17K | $307K | 10x |
| Short | Phoenix DOGE | 0.09952 | 0.0081 | get 0.0010% / 1h | 55m 59s | $18K | $355K | 10x |
Arcus DOGE-USD
Phoenix DOGEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Arcus. 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
- Price spread: +0.210% → +0.033%
- $17.73
- Slippage, 4 orders
- −$28.98
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$26.75
- Costs to cover
- 0.405%
- Break-even
- never at this rate
Slippage from Arcus: live order book, 33 min ago; Phoenix: live order book, 32 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 Arcus live order book, 33 min ago | 2.55 bp | 8.6 bp −$9 | 25.0 bp −$250 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 32 min ago | 1.02 bp | 12.3 bp −$12 | 43.1 bp −$431 | doesn't fit | doesn't fit |
DOGE on 43 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 | −0.0052% | 1h | 0.09923 | −0.082% | $5.4M | $40.6M | 50x | as long as short |
| Bitget DOGEUSDT | −0.0023% | 8h | 0.09897 | −0.342% | $140.0M | $347.7M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.09939 | +0.079% | $513K | $6.6M | 2.8x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | 0.0000% | 1h | 0.09925 | −0.064% | $556K | $299K | 25x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.09967 | +0.365% | $33K | — | 150x | as long as short |
| Injective DOGE/USDC PERP | +0.0033% | 1h | 0.1053 | +6.032% | $6K | $240K | 12x | as long as short |
| Gate DOGE_USDT | +0.0035% | 8h | 0.09895 | −0.363% | $251.6M | $145.7M | 75x | as long as short |
| Phoenix DOGEshort | +0.0081% | 1h | 0.09952 | +0.210% | $18K | $355K | 10x | |
| Lighter DOGE | +0.0096% | 1h | 0.09931 | +0.002% | $825K | $6.5M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0100% | 8h | 0.09928 | −0.030% | $829 | $545K | 10x | as long as short |
Kraken Futures PF_DOGEUSD
Bitget DOGEUSDT
Kalshi KXDOGEPERP
Deribit DOGE_USDC-PERPETUAL
gTrade (Gains Network) DOGE/USD
Injective DOGE/USDC PERP
Gate DOGE_USDT
Lighter DOGE
Katana Perps DOGE-USDShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado DOGE-PERP | +0.0100% | 1h | 0.09927 | −0.045% | $514K | $1.1M | 10x | as long as short |
| Hyperliquid DOGE | +0.0100% | 1h | 0.09930 | −0.013% | $124.0M | $113.6M | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.09904 | −0.274% | $5.0M | $58.7M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.09935 | +0.040% | $323K | $473K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.09897 | −0.338% | $326.9M | $1.69B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09893 | −0.383% | $166.5M | $521.0M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09891 | −0.403% | $115.9M | $1.17B | 50x | as long as short |
| Arcus DOGE-USDlong | +0.0100% | 1h | 0.09931 | long leg | $17K | $307K | 10x | |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09931 | +0.004% | $379K | $2K | 10x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09903 | −0.282% | $112.4M | $254.3M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09907 | −0.242% | $66.0M | $48.6M | 75x | as long as short |
| BingX DOGE-USDC | +0.0100% | 8h | 0.09900 | −0.312% | — | $3.5M | — | as long as short |
| Backpack DOGE_USDC_PERP | +0.0100% | 1h | 0.09921 | −0.101% | $311K | $1.3M | 15x | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.09917 | −0.145% | $1.1M | $8.2M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.09948 | +0.172% | $265K | $137.5M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.09969 | +0.387% | $628K | $4.0M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.09970 | +0.393% | $142K | $347K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.09925 | −0.061% | $259K | $1.2M | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.09922 | −0.091% | $71K | $451K | 50x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09928 | −0.032% | $34K | $2.1M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.09923 | −0.081% | $2K | $5.4M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09929 | −0.018% | $6.0M | $67.6M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.09925 | −0.060% | $90.6M | $16.2M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.09937 | +0.064% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09898 | −0.337% | $481K | $4.0M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.09924 | −0.076% | $19K | — | 3x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0166% / S −0.0120% | 1h | 0.09922 | −0.087% | $331K | — | 200x | as long as short |
| 01 Exchange DOGEUSD | +0.0184% | 1h | 0.09931 | +0.003% | $457 | $4K | 10x | as long as short |
| Reya DOGERUSDPERP | +0.0204% | 1h | 0.09917 | −0.136% | $2K | — | 20x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.09944 | +0.131% | $15.4M | $26.8M | 75x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0240% | 1h | 0.09931 | 0.000% | $2.2M | $35.3M | 50x | as long as short |
| dYdX DOGE-USD | +0.0523% | 1h | 0.09927 | −0.045% | $233K | $62K | 10x | as long as short |
| RISEx DOGE/USDC | +0.0565% | 1h | 0.09934 | +0.025% | $403K | $450K | 10x | as long as short |
Nado DOGE-PERP
Hyperliquid DOGE
Aster DOGEUSDT
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Bulk DOGE-USD
MEXC DOGE_USDT
KuCoin DOGEUSDTM
BingX DOGE-USDC
Backpack DOGE_USDC_PERP
Variational Omni DOGE
edgeX DOGEUSDC
GRVT DOGE_USDT_Perp
ApeX Omni DOGEUSDT
Polymarket Perps DOGE-USD
Orderly PERP_DOGE_USDC
SunX DOGE-USDT
SoDEX DOGE-USD
HTX DOGE-USDT
Phemex DOGEUSDT
Paradex DOGE-USD-PERP
Extended DOGE-USD
Aevo DOGE-PERP
GMX DOGE/USD [ETH-USDC]
01 Exchange DOGEUSD
Reya DOGERUSDPERP
BloFin DOGE-USDT
Coinbase International DOGE-PERP-INTX
dYdX DOGE-USD
RISEx DOGE/USDC