Funding arb · Price arb /

DOGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.027%

Price spread now: MEXC against Backpack+0.170%7-day average +0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs+$2as in the Price arb table

costs, in and out, $10k−$140.143% of the position

Long on Backpack Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.063%−$6 on $10k

Price spread, last 4 days (all we have)−0.095%−$10 · spread now +0.170%, 7d avg +0.007%

Together, before fees−0.158%−$16 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: MEXC is 0.163% dearer against Backpack than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack DOGE_USDC_PERP	0.1002	0.0100	pay 0.0013% / 1h	4m 31s	$345K	$1.1M	15x
Short	MEXC DOGE_USDT	0.1004	0.0100	get 0.0100% / 8h	6h 04m	$114.1M	$232.1M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.170%Rate

Funding earned: $0
Price spread: +0.170% → +0.007%: $16.25
Slippage, 4 orders: −$4.28
Fee Backpack: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: $1.97
Costs to cover: 0.143%
Break-even: from the start

Slippage from Backpack: live order book, 4 min ago; MEXC: live order book, 5 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	0.50 bp	6.8 bp −$7	12.6 bp −$126	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	0.50 bp	0.5 bp −$1	2.3 bp −$23	9.6 bp −$956	42.8 bp −$21.4K

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
Bitget DOGEUSDT	−0.0095%	8h	0.1003	+0.120%	$152.0M	$273.1M	75x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.1001	−0.107%	$392K	$5.0M	2.8x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.1003	+0.072%	$23K	—	150x	as long as short
dYdX DOGE-USD	+0.0010%	1h	0.1004	+0.180%	$225K	$49K	10x	as long as short
Kraken Futures PF_DOGEUSD	+0.0066%	1h	0.1003	+0.061%	$5.8M	$34.5M	50x	as long as short
Lighter DOGE	+0.0096%	1h	0.1006	+0.337%	$828K	$6.1M	15x	as long as short
Katana Perps DOGE-USD	+0.0099%	8h	0.1004	+0.180%	$1K	$428K	10x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.1004	+0.200%	$537K	$987K	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.1004	+0.204%	$4.7M	$48.1M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.1005	+0.247%	$330K	$503K	20x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance DOGEUSDT	+0.0100%	8h	0.1004	+0.210%	$319.8M	$1.43B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.1004	+0.190%	$160.0M	$437.2M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.1004	+0.200%	$111.5M	$987.8M	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.1006	+0.359%	$129K	$178K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.1002	−0.062%	$384K	$5K	10x	as long as short
Gate DOGE_USDT	+0.0100%	8h	0.1004	+0.220%	$243.8M	$133.4M	75x	as long as short
MEXC DOGE_USDTshort	+0.0100%	8h	0.1004	+0.170%	$114.1M	$232.1M	300x
KuCoin DOGEUSDTM	+0.0100%	8h	0.1004	+0.229%	$66.5M	$43.1M	75x	as long as short
BingX DOGE-USDC	+0.0100%	8h	0.1004	+0.140%	—	$3.5M	—	as long as short
Backpack DOGE_USDC_PERPlong	+0.0100%	1h	0.1002	long leg	$345K	$1.1M	15x
Variational Omni DOGE	+0.0100%	8h	0.1002	−0.062%	$999K	$8.2M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.09999	−0.229%	$294K	$129.2M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.09943	−0.791%	$631K	$4.5M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.1000	−0.220%	$146K	$272K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.1004	+0.160%	$257K	$645K	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.1003	+0.080%	$71K	$440K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.1003	+0.074%	$25K	$1K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.1002	−0.031%	$36K	$2.2M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.1003	+0.090%	$2K	$3.8M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.1003	+0.077%	$5.9M	$55.4M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.1003	+0.060%	$92.4M	$16.8M	50x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.1005	+0.251%	$563K	$4.0M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.1003	+0.095%	$19K	—	3x	as long as short
Paradex DOGE-USD-PERP	+0.0107%	8h	0.1004	+0.196%	$18K	$6K	30x	as long as short
Deribit DOGE_USDC-PERPETUAL	+0.0109%	1h	0.1003	+0.106%	$599K	$118K	25x	as long as short
Reya DOGERUSDPERP	+0.0185%	1h	0.1004	+0.171%	$2K	—	20x	as long as short
01 Exchange DOGEUSD	+0.0216%	1h	0.1005	+0.250%	$536	$4K	10x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0240%	1h	0.1003	+0.130%	$2.1M	$25.6M	50x	as long as short
Phoenix DOGE	+0.0241%	1h	0.09990	−0.318%	$65K	$284K	10x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0246% / S −0.0267%	1h	0.1003	+0.065%	$313K	—	200x	as long as short
RISEx DOGE/USDC	+0.0563%	1h	0.1005	+0.274%	$405K	$367K	10x	as long as short
Hyperliquid DOGE	+0.0691%	1h	0.1005	+0.299%	$122.8M	$98.7M	10x	as long as short
Injective DOGE/USDC PERP	+0.1004%	1h	0.1006	+0.379%	$5K	$239K	12x	as long as short