Funding you earn now, next payment 02:00 UTC+0.0140%/8h= +15.4% APRpaid last 24h −0.009%
Price spread now: Phoenix against Bybit+0.336%7-day average +0.060% · you sell dearer than you buy
Net, funding: paid 7d − costs−$52as in the Funding arb table
Net, price: spread back to 7d avg − costs−$12as in the Price arb table
costs, in and out, $10k−$400.397% of the position
Funding, last 7 days−0.126%−$13 on $10k
+Price spread, last 4 days (all we have)+0.066%+$7 · spread now +0.336%, 7d avg +0.060%
=Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Phoenix is 0.276% dearer against Bybit than usual: you sell high and buy low: +$28 more if the spread goes back to its 7-day average of +0.060%. Mind the row above: over the last 7 days funding on this pair cost −0.126%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit DOGEUSDT | 0.09929 | 0.0100 | pay 0.0100% / 8h | 5h 09m | $159.9M | $441.5M | 75x |
| Short | Phoenix DOGE | 0.09962 | 0.0240 | get 0.0030% / 1h | 9m 08s | $65K | $288K | 10x |
Bybit DOGEUSDT
Phoenix DOGEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Bybit. 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
- $29.46
- Price spread: +0.336% → +0.060%
- $27.59
- Slippage, 4 orders
- −$21.71
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $17.34
- Costs to cover
- 0.397%
- Break-even
- 2.9 days
Slippage from Bybit: live order book, 5 min ago; Phoenix: live order book, 49 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 Bybit live order book, 5 min ago | 0.50 bp | 6.2 bp −$6 | 9.0 bp −$90 | 23.2 bp −$2,322 | 47.3 bp −$23.6K |
| Sell Phoenix live order book, 49 min ago | 1.00 bp | 12.4 bp −$12 | 43.0 bp −$430 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget DOGEUSDT | −0.0074% | 8h | 0.09926 | −0.030% | $150.2M | $274.2M | 75x | as long as short |
| dYdX DOGE-USD | 0.0000% | 1h | 0.09933 | +0.044% | $223K | $49K | 10x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.09933 | +0.036% | $429K | $5.2M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.09939 | +0.105% | $24K | — | 150x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0042% | 1h | 0.09941 | +0.123% | $594K | $118K | 25x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.09942 | +0.127% | $770K | $6.2M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0100% | 8h | 0.09940 | +0.111% | $898 | $444K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.09941 | +0.126% | $533K | $997K | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.09940 | +0.108% | $4.7M | $48.7M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.09940 | +0.116% | $327K | $484K | 20x | as long as short |
Bitget DOGEUSDT
dYdX DOGE-USD
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
Deribit DOGE_USDC-PERPETUAL
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 | 0.09932 | +0.031% | $317.8M | $1.44B | 75x | as long as short |
| Bybit DOGEUSDTlong | +0.0100% | 8h | 0.09929 | long leg | $159.9M | $441.5M | 75x | |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09935 | +0.060% | $110.9M | $987.0M | 50x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09966 | +0.372% | $382K | $0 | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.09932 | +0.030% | $242.8M | $133.9M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09935 | +0.060% | $111.6M | $231.7M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09935 | +0.060% | $65.7M | $43.4M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.09936 | +0.071% | — | $76.3M | — | as long as short |
| Backpack DOGE_USDC_PERP | +0.0100% | 1h | 0.09932 | +0.030% | $326K | $1.1M | 15x | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.09931 | +0.016% | $982K | $8.2M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.09932 | +0.028% | $294K | $128.4M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.09939 | +0.100% | $627K | $4.4M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.09940 | +0.111% | $145K | $281K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.09936 | +0.071% | $251K | $742K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.09939 | +0.101% | $70K | $438K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.09938 | +0.093% | $24K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09945 | +0.156% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.09938 | +0.091% | $2K | $3.9M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09940 | +0.115% | $6.0M | $56.8M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.09936 | +0.071% | $91.4M | $16.6M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0102% | 8h | 0.09937 | +0.085% | $18K | $6K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09937 | +0.085% | $499K | $4.1M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.09938 | +0.090% | $19K | — | 3x | as long as short |
| Reya DOGERUSDPERP | +0.0188% | 1h | 0.09938 | +0.095% | $2K | — | 20x | as long as short |
| 01 Exchange DOGEUSD | +0.0216% | 1h | 0.09944 | +0.155% | $530 | $4K | 10x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.09939 | +0.101% | $15.6M | $25.1M | 75x | as long as short |
| Phoenix DOGEshort | +0.0240% | 1h | 0.09962 | +0.336% | $65K | $288K | 10x | |
| GMX DOGE/USD [ETH-USDC] | L +0.0246% / S −0.0269% | 1h | 0.09941 | +0.117% | $311K | — | 200x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0248% | 1h | 0.09951 | +0.222% | $2.3M | $26.5M | 50x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0308% | 1h | 0.09935 | +0.056% | $5.7M | $35.3M | 50x | as long as short |
| Hyperliquid DOGE | +0.0514% | 1h | 0.09944 | +0.152% | $121.2M | $99.4M | 10x | as long as short |
| RISEx DOGE/USDC | +0.0747% | 1h | 0.09945 | +0.156% | $402K | $388K | 10x | as long as short |
| Arcus DOGE-USD | +0.0781% | 1h | 0.09951 | +0.222% | $128K | $187K | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1072% | 1h | 0.09960 | +0.312% | $5K | $239K | 12x | as long as short |
Binance DOGEUSDT
OKX DOGE-USDT-SWAP
Bulk 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
Phemex DOGEUSDT
Paradex DOGE-USD-PERP
Extended DOGE-USD
Aevo DOGE-PERP
Reya DOGERUSDPERP
01 Exchange DOGEUSD
BloFin DOGE-USDT
GMX DOGE/USD [ETH-USDC]
Coinbase International DOGE-PERP-INTX
Kraken Futures PF_DOGEUSD
Hyperliquid DOGE
RISEx DOGE/USDC
Arcus DOGE-USD
Injective DOGE/USDC PERP