Funding you earn now, next payment 00:00 UTC−0.0355%/8h= −38.9% APRpaid last 24h −0.025%
Price spread now: BingX against Backpack+0.128%7-day average −0.030% · you sell dearer than you buy
Net, funding: paid 7d − costs−$32as in the Funding arb table
Net, price: spread back to 7d avg − costs−$11as in the Price arb table
costs, in and out, $10k−$270.271% of the position
Funding, last 7 days−0.046%−$5 on $10k
+Price spread, last 4 days (all we have)−0.120%−$12 · spread now +0.128%, 7d avg −0.030%
=The price spread pays, funding is against you. BingX is 0.158% dearer against Backpack than usual: you sell high and buy low (spread +0.128% now, against its 7-day average of −0.030%): +$16 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 36 hours. At the pace of the last 7 days (−0.046% in total) that is about 24 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.046% in total (about -2.4% a year). A funding rate is set anew for every payment. 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 | Backpack DOGE_USDC_PERP | 0.1012 | 0.0455 | pay 0.0057% / 1h | 50m 48s | $541K | $960K | 15x |
| Short | BingX DOGE-USDC | 0.1013 | 0.0100 | get 0.0100% / 8h | 50m 48s | — | $3.4M | — |
Backpack DOGE_USDC_PERP
BingX DOGE-USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX against Backpack. 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
- −$74.51
- Price spread: +0.128% → −0.030%
- $15.83
- Slippage, 4 orders
- −$7.06
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$85.74
- Costs to cover
- 0.271%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 28 min ago; BingX: live order book, 9 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 Backpack live order book, 28 min ago | 0.50 bp | 6.1 bp −$6 | 351.6 bp −$3,516 | doesn't fit | doesn't fit |
| Sell BingX live order book, 9 min ago | 0.50 bp | 8.3 bp −$8 | 12.1 bp −$121 | 33.4 bp −$3,345 | 112.2 bp −$56.1K |
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 | −0.0248% | 8h | 0.1013 | +0.089% | $154.6M | $267.8M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.1014 | +0.168% | $422K | $4.7M | 2.8x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | 0.0000% | 1h | 0.1013 | +0.045% | $609K | $109K | 25x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S −0.0001% | 1h | 0.1012 | +0.025% | $33K | — | 150x | as long as short |
| Gate DOGE_USDT | +0.0085% | 8h | 0.1013 | +0.138% | $244.9M | $125.3M | 75x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.1013 | +0.050% | $804K | $5.4M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0097% | 8h | 0.1014 | +0.168% | $847 | $378K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1014 | +0.158% | $604K | $893K | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.1014 | +0.142% | $5.1M | $44.6M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.1013 | +0.128% | $338K | $504K | 20x | as long as short |
Bitget DOGEUSDT
Kalshi KXDOGEPERP
Deribit DOGE_USDC-PERPETUAL
gTrade (Gains Network) DOGE/USD
Gate DOGE_USDT
Lighter DOGE
Katana Perps DOGE-USD
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 | 0.1014 | +0.207% | $323.7M | $1.34B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.1014 | +0.227% | $160.3M | $427.5M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1015 | +0.267% | $111.0M | $950.4M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.1014 | +0.217% | $28K | $79K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.1004 | −0.838% | $385K | $12K | 10x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1014 | +0.188% | $114.5M | $218.6M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1014 | +0.168% | $66.9M | $41.5M | 75x | as long as short |
| BingX DOGE-USDCshort | +0.0100% | 8h | 0.1013 | +0.128% | — | $3.4M | — | |
| Variational Omni DOGE | +0.0100% | 8h | 0.1006 | −0.572% | $1.0M | $8.1M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1011 | −0.080% | $279K | $117.2M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1012 | −0.020% | $644K | $4.5M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1014 | +0.188% | $149K | $248K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.1013 | +0.119% | $265K | $551K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.1012 | +0.030% | $74K | $433K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1012 | +0.020% | $25K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1013 | +0.122% | $36K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1013 | +0.040% | $2K | $3.6M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1013 | +0.111% | $6.1M | $51.0M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.1012 | −0.049% | $93.6M | $19.2M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.1013 | +0.103% | $18K | $5K | 30x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0103% | 1h | 0.1012 | −0.007% | $6.0M | $33.0M | 50x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1014 | +0.143% | $567K | $3.7M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1013 | +0.044% | $19K | — | 3x | as long as short |
| dYdX DOGE-USD | +0.0156% | 1h | 0.1013 | +0.072% | $227K | $44K | 10x | as long as short |
| Reya DOGERUSDPERP | +0.0178% | 1h | 0.1013 | +0.055% | $2K | — | 20x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.1012 | −0.020% | $15.3M | $25.4M | 75x | as long as short |
| Phoenix DOGE | +0.0239% | 1h | 0.1013 | +0.086% | $67K | $281K | 10x | as long as short |
| 01 Exchange DOGEUSD | +0.0240% | 1h | 0.1015 | +0.244% | $536 | $4K | 10x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0240% | 1h | 0.1012 | +0.010% | $2.0M | $24.1M | 50x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0245% / S −0.0267% | 1h | 0.1012 | +0.027% | $315K | — | 200x | as long as short |
| Backpack DOGE_USDC_PERPlong | +0.0455% | 1h | 0.1012 | long leg | $541K | $960K | 15x | |
| RISEx DOGE/USDC | +0.0708% | 1h | 0.1015 | +0.248% | $318K | $475K | 10x | as long as short |
| Hyperliquid DOGE | +0.0908% | 1h | 0.1013 | +0.119% | $116.0M | $86.1M | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1039% | 1h | 0.1014 | +0.188% | $5K | $239K | 12x | as long as short |
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Arcus DOGE-USD
Bulk DOGE-USD
MEXC DOGE_USDT
KuCoin DOGEUSDTM
Variational Omni DOGE
edgeX DOGEUSDC
GRVT DOGE_USDT_Perp
ApeX Omni DOGEUSDT
Polymarket Perps DOGE-USD
Orderly PERP_DOGE_USDC
Derive DOGE-PERP
SunX DOGE-USDT
SoDEX DOGE-USD
HTX DOGE-USDT
Phemex DOGEUSDT
Paradex DOGE-USD-PERP
Kraken Futures PF_DOGEUSD
Extended DOGE-USD
Aevo DOGE-PERP
dYdX DOGE-USD
Reya DOGERUSDPERP
BloFin DOGE-USDT
Phoenix DOGE
01 Exchange DOGEUSD
Coinbase International DOGE-PERP-INTX
GMX DOGE/USD [ETH-USDC]
RISEx DOGE/USDC
Hyperliquid DOGE
Injective DOGE/USDC PERP