Funding arb · Price arb /

DOGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.027%

Price spread now: KuCoin against Backpack−0.061%7-day average +0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$350.347% of the position

Long on Backpack Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.065%−$7 on $10k

Price spread, last 7 days+0.138%+$14 · spread now −0.061%, 7d avg +0.015%

Together, before fees+0.073%+$7 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.077% cheaper against Backpack than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack DOGE_USDC_PERP	0.09806	0.0100	pay 0.0013% / 1h	26m 39s	$302K	$1.3M	15x
Short	KuCoin DOGEUSDTM	0.09800	0.0100	get 0.0100% / 8h	7h 26m	$65.1M	$49.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Backpack. 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 BackpackbpFee KuCoinbpOrdersPrice spread, now −0.061%Rate

Funding earned: $0
Price spread: −0.061% → +0.015%: −$7.67
Slippage, 4 orders: −$12.74
Fee Backpack: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$42.41
Costs to cover: 0.347%
Break-even: never at this rate

Slippage from Backpack: live order book, 2 min ago; KuCoin: 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 Backpack live order book, 2 min ago	1.02 bp	6.4 bp −$6	20.5 bp −$205	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	2.55 bp	11.9 bp −$12	19.0 bp −$190	40.8 bp −$4,075	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
Kraken Futures PF_DOGEUSD	−0.0097%	1h	0.09803	−0.033%	$5.4M	$40.7M	50x	as long as short
Bitget DOGEUSDT	−0.0015%	8h	0.09789	−0.173%	$138.7M	$346.9M	75x	as long as short
Gate DOGE_USDT	−0.0006%	8h	0.09793	−0.133%	$247.7M	$154.7M	75x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.09812	+0.062%	$537K	$6.6M	2.8x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.09788	−0.182%	$33K	—	150x	as long as short
Injective DOGE/USDC PERP	+0.0033%	1h	0.1053	+7.383%	$6K	$242K	12x	as long as short
Phoenix DOGE	+0.0081%	1h	0.09816	+0.099%	$18K	$386K	10x	as long as short
Lighter DOGE	+0.0096%	1h	0.09809	+0.034%	$816K	$6.8M	15x	as long as short
Katana Perps DOGE-USD	+0.0100%	8h	0.09791	−0.153%	$2K	$544K	10x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.09802	−0.036%	$501K	$1.1M	10x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid DOGE	+0.0100%	1h	0.09807	+0.010%	$122.2M	$117.1M	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.09801	−0.051%	$4.9M	$58.9M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.09801	−0.052%	$318K	$481K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.09801	−0.051%	$323.5M	$1.71B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.09795	−0.112%	$162.7M	$523.1M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.09802	−0.041%	$113.4M	$1.18B	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.09799	−0.071%	$16K	$306K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.09784	−0.223%	$374K	$2K	10x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.09800	−0.061%	$115.6M	$261.5M	300x	as long as short
KuCoin DOGEUSDTMshort	+0.0100%	8h	0.09800	−0.061%	$65.1M	$49.1M	75x
BingX DOGE-USDC	+0.0100%	8h	0.09796	−0.102%	—	$3.5M	—	as long as short
Backpack DOGE_USDC_PERPlong	+0.0100%	1h	0.09806	long leg	$302K	$1.3M	15x
Variational Omni DOGE	+0.0100%	8h	0.09822	+0.162%	$1.0M	$8.4M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.09824	+0.185%	$298K	$139.4M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.09821	+0.153%	$617K	$4.4M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.09830	+0.245%	$140K	$347K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.09806	0.000%	$255K	$1.2M	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.09799	−0.071%	$70K	$465K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.09809	+0.027%	$18K	$7K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.09808	+0.016%	$34K	$2.2M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.09803	−0.031%	$2K	$5.4M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.09806	−0.004%	$5.8M	$69.0M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.09809	+0.031%	$89.6M	$16.5M	50x	as long as short
Paradex DOGE-USD-PERP	+0.0100%	8h	0.09796	−0.101%	$18K	$5K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.09791	−0.151%	$476K	$4.1M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.09800	−0.061%	$19K	—	3x	as long as short
Deribit DOGE_USDC-PERPETUAL	+0.0158%	1h	0.09804	−0.018%	$555K	$298K	25x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0166% / S −0.0068%	1h	0.09806	+0.002%	$351K	—	200x	as long as short
Reya DOGERUSDPERP	+0.0202%	1h	0.09803	−0.028%	$2K	—	20x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0208%	1h	0.09808	+0.020%	$1.9M	$34.6M	50x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.09809	+0.031%	$15.5M	$26.7M	75x	as long as short
01 Exchange DOGEUSD	+0.0224%	1h	0.09806	−0.003%	$451	$4K	10x	as long as short
dYdX DOGE-USD	+0.0505%	1h	0.09812	+0.059%	$230K	$74K	10x	as long as short
RISEx DOGE/USDC	+0.0717%	1h	0.09802	−0.042%	$394K	$448K	10x	as long as short