Funding you earn now, next payment 04:00 UTC+0.0204%/8h= +22.3% APRnext payment +$0.26 per $10,000 · paid last 24h +0.002%
Price spread now: Coinbase International against Backpack+0.100%7-day average +0.029% · you sell dearer than you buy
Net, funding: paid 7d − costs−$41as in the Funding arb table
Net, price: spread back to 7d avg − costs−$25as in the Price arb table
costs, in and out, $10k−$320.319% of the position
Funding, last 7 days−0.092%−$9 on $10k
+Price spread, last 4 days (all we have)−0.047%−$5 · spread now +0.100%, 7d avg +0.029%
=Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Coinbase International is 0.071% dearer against Backpack than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.029%. Mind the row above: over the last 7 days funding on this pair cost −0.092%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.092% in total (about -4.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.26 per $10,000. 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 | 0.09989 | 0.0100 | pay 0.0013% / 1h | 0m 09s | $310K | $1.2M | 15x |
| Short | Coinbase International DOGE-PERP-INTX | 0.09999 | 0.0304 | get 0.0038% / 1h | 0m 09s | $2.1M | $33.5M | 50x |
Backpack DOGE_USDC_PERP
Coinbase International DOGE-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- $42.84
- Price spread: +0.100% → +0.029%
- $7.13
- Slippage, 4 orders
- −$11.9
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- $18.06
- Costs to cover
- 0.319%
- Break-even
- 4.0 days
Slippage from Backpack: live order book, 4 min ago; Coinbase International: 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 Backpack live order book, 4 min ago | 1.50 bp | 6.9 bp −$7 | 24.6 bp −$246 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 4 min ago | 1.99 bp | 8.8 bp −$9 | 14.6 bp −$146 | 38.0 bp −$3,797 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.09993 | +0.036% | $646K | $6.4M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.09985 | −0.038% | $41K | — | 150x | as long as short |
| dYdX DOGE-USD | +0.0015% | 1h | 0.09985 | −0.042% | $224K | $70K | 10x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.1000 | +0.115% | $737K | $6.5M | 15x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.09992 | +0.035% | $548K | $1.1M | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.09992 | +0.029% | $4.5M | $56.0M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.09986 | −0.034% | $319K | $520K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.09993 | +0.044% | $326.2M | $1.65B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09989 | 0.000% | $162.6M | $508.6M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09990 | +0.010% | $113.7M | $1.15B | 50x | as long as short |
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
dYdX DOGE-USD
Lighter DOGE
Nado DOGE-PERP
Aster DOGEUSDT
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAPShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bulk DOGE-USD | +0.0100% | 1h | 0.1002 | +0.300% | $385K | $16K | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.09986 | −0.030% | $246.8M | $150.5M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09993 | +0.040% | $112.1M | $249.4M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09995 | +0.060% | $66.5M | $48.6M | 75x | as long as short |
| Bitget DOGEUSDT | +0.0100% | 8h | 0.09990 | +0.010% | $130.0M | $321.1M | 75x | as long as short |
| BingX DOGE-USDC | +0.0100% | 8h | 0.09985 | −0.040% | — | $3.5M | — | as long as short |
| Backpack DOGE_USDC_PERPlong | +0.0100% | 1h | 0.09989 | long leg | $310K | $1.2M | 15x | |
| Variational Omni DOGE | +0.0100% | 8h | 0.09995 | +0.058% | $1.1M | $8.6M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1004 | +0.467% | $320K | $137.4M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1008 | +0.894% | $638K | $4.7M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1003 | +0.410% | $151K | $332K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.09986 | −0.033% | $263K | $1.1M | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.09988 | −0.010% | $64K | $464K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.09985 | −0.040% | $19K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09990 | +0.008% | $35K | $2.3M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.09991 | +0.020% | $2K | $5.1M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09990 | +0.006% | $5.9M | $66.4M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.09994 | +0.050% | $92.0M | $17.1M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.09987 | −0.023% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09985 | −0.037% | $478K | $4.1M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.09986 | −0.029% | $19K | — | 3x | as long as short |
| Katana Perps DOGE-USD | +0.0118% | 8h | 0.09989 | 0.000% | $1K | $512K | 10x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0150% | 1h | 0.09992 | +0.032% | $568K | $247K | 25x | as long as short |
| Reya DOGERUSDPERP | +0.0193% | 1h | 0.09988 | −0.007% | $2K | — | 20x | as long as short |
| 01 Exchange DOGEUSD | +0.0216% | 1h | 0.09998 | +0.092% | $445 | $4K | 10x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.09999 | +0.100% | $16.1M | $26.8M | 75x | as long as short |
| Phoenix DOGE | +0.0235% | 1h | 0.1008 | +0.880% | $18K | $292K | 10x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0252% | 1h | 0.09992 | +0.035% | $5.6M | $40.4M | 50x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0253% / S −0.0292% | 1h | 0.09985 | −0.038% | $326K | — | 200x | as long as short |
| Coinbase International DOGE-PERP-INTXshort | +0.0304% | 1h | 0.09999 | +0.100% | $2.1M | $33.5M | 50x | |
| Hyperliquid DOGE | +0.0363% | 1h | 0.09995 | +0.060% | $124.7M | $113.4M | 10x | as long as short |
| Arcus DOGE-USD | +0.0634% | 1h | 0.1001 | +0.170% | $108K | $207K | 10x | as long as short |
| RISEx DOGE/USDC | +0.0728% | 1h | 0.10000 | +0.105% | $403K | $436K | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1062% | 1h | 0.1053 | +5.416% | $6K | $242K | 12x | as long as short |
Bulk DOGE-USD
Gate DOGE_USDT
MEXC DOGE_USDT
KuCoin DOGEUSDTM
Bitget DOGEUSDT
BingX DOGE-USDC
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
Extended DOGE-USD
Aevo DOGE-PERP
Katana Perps DOGE-USD
Deribit DOGE_USDC-PERPETUAL
Reya DOGERUSDPERP
01 Exchange DOGEUSD
BloFin DOGE-USDT
Phoenix DOGE
Kraken Futures PF_DOGEUSD
GMX DOGE/USD [ETH-USDC]
Hyperliquid DOGE
Arcus DOGE-USD
RISEx DOGE/USDC
Injective DOGE/USDC PERP