Funding you earn now, next payment 01:00 UTC−0.0441%/8h= −48.3% APRpaid last 24h 0.000%
Price spread now: Phemex against Bulk+0.412%7-day average +0.016% · 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+$2as in the Price arb table
costs, in and out, $10k−$380.381% of the position
Funding, last 3 days (all we have)+0.005%+$1 on $10k
+Price spread, last 3 days (all we have)−0.447%−$45 · spread now +0.412%, 7d avg +0.016%
=The price spread pays, funding is against you. Phemex is 0.397% dearer against Bulk than usual: you sell high and buy low (spread +0.412% now, against its 7-day average of +0.016%): +$40 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 3.0 days.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.005% in total (about 0.6% 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 | Bulk DOGE-USD | 0.1005 | 0.0100 | pay 0.0013% / 1h | 29m 51s | $385K | $9K | 10x |
| Short | Phemex DOGEUSDT | 0.1009 | −0.0341 | pay 0.0341% / 8h | 7h 29m | $93.2M | $17.8M | 50x |
Bulk DOGE-USD
Phemex DOGEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Bulk. 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
- −$92.56
- Price spread: +0.412% → +0.016%
- $39.66
- Slippage, 4 orders
- −$19.11
- Fee Bulk: 3.5 bp × 2 orders
- −$7
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$91.01
- Costs to cover
- 0.381%
- Break-even
- from the start
Slippage from Bulk: live order book, 44 min ago; Phemex: 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 Bulk live order book, 44 min ago | 5.04 bp | 8.5 bp −$9 | 8.5 bp −$85 | 9.2 bp −$923 | 19.1 bp −$9,556 |
| Sell Phemex live order book, 4 min ago | 2.48 bp | 10.2 bp −$10 | 20.3 bp −$203 | 37.2 bp −$3,722 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Phemex DOGEUSDTshort | −0.0341% | 8h | 0.1009 | +0.412% | $93.2M | $17.8M | 50x | |
| Bitget DOGEUSDT | −0.0185% | 8h | 0.1009 | +0.382% | $153.6M | $270.7M | 75x | as long as short |
| Kraken Futures PF_DOGEUSD | −0.0077% | 1h | 0.1010 | +0.466% | $6.1M | $33.9M | 50x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.1011 | +0.569% | $409K | $4.8M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.1009 | +0.411% | $24K | — | 150x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0008% | 1h | 0.1010 | +0.450% | $607K | $121K | 25x | as long as short |
| dYdX DOGE-USD | +0.0019% | 1h | 0.1010 | +0.447% | $227K | $44K | 10x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.1011 | +0.547% | $790K | $5.8M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0100% | 8h | 0.1009 | +0.382% | $843 | $410K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1009 | +0.362% | $517K | $973K | 10x | as long as short |
Bitget DOGEUSDT
Kraken Futures PF_DOGEUSD
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
Deribit DOGE_USDC-PERPETUAL
dYdX DOGE-USD
Lighter DOGE
Katana Perps DOGE-USD
Nado DOGE-PERPShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster DOGEUSDT | +0.0100% | 8h | 0.1011 | +0.572% | $5.0M | $46.4M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.1010 | +0.464% | $336K | $516K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.1011 | +0.545% | $321.3M | $1.40B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.1010 | +0.492% | $160.3M | $437.7M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1010 | +0.482% | $110.9M | $973.4M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.1010 | +0.512% | $28K | $82K | 10x | as long as short |
| Bulk DOGE-USDlong | +0.0100% | 1h | 0.1005 | long leg | $385K | $9K | 10x | |
| Gate DOGE_USDT | +0.0100% | 8h | 0.1010 | +0.522% | $245.6M | $129.2M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1011 | +0.571% | $114.1M | $224.5M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1011 | +0.571% | $66.3M | $42.6M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.1010 | +0.522% | — | $76.1M | — | as long as short |
| Backpack DOGE_USDC_PERP | +0.0100% | 1h | 0.1011 | +0.581% | $366K | $1.1M | 15x | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.1010 | +0.491% | $1.0M | $8.1M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1008 | +0.234% | $265K | $123.2M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1007 | +0.153% | $643K | $4.5M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1006 | +0.084% | $148K | $267K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.1009 | +0.382% | $273K | $589K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.1009 | +0.432% | $73K | $424K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1009 | +0.425% | $25K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1010 | +0.436% | $36K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1010 | +0.442% | $2K | $3.8M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1009 | +0.372% | $6.0M | $52.6M | 75x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.1010 | +0.441% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1011 | +0.545% | $532K | $3.9M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1009 | +0.422% | $19K | — | 3x | as long as short |
| Reya DOGERUSDPERP | +0.0181% | 1h | 0.1009 | +0.391% | $2K | — | 20x | as long as short |
| 01 Exchange DOGEUSD | +0.0192% | 1h | 0.1010 | +0.489% | $533 | $4K | 10x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.1011 | +0.551% | $15.4M | $25.8M | 75x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0240% | 1h | 0.1010 | +0.492% | $2.0M | $25.0M | 50x | as long as short |
| Phoenix DOGE | +0.0240% | 1h | 0.1008 | +0.253% | $67K | $283K | 10x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0245% / S −0.0263% | 1h | 0.1009 | +0.410% | $311K | — | 200x | as long as short |
| RISEx DOGE/USDC | +0.0701% | 1h | 0.1010 | +0.472% | $320K | $477K | 10x | as long as short |
| Hyperliquid DOGE | +0.0848% | 1h | 0.1011 | +0.591% | $123.1M | $94.5M | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.0973% | 1h | 0.1014 | +0.880% | $5K | $239K | 12x | as long as short |
Aster DOGEUSDT
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Arcus DOGE-USD
Gate DOGE_USDT
MEXC DOGE_USDT
KuCoin DOGEUSDTM
BingX DOGE-USDT
Backpack DOGE_USDC_PERP
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
Paradex DOGE-USD-PERP
Extended DOGE-USD
Aevo DOGE-PERP
Reya DOGERUSDPERP
01 Exchange DOGEUSD
BloFin DOGE-USDT
Coinbase International DOGE-PERP-INTX
Phoenix DOGE
GMX DOGE/USD [ETH-USDC]
RISEx DOGE/USDC
Hyperliquid DOGE
Injective DOGE/USDC PERP