Funding arb · Price arb /

DOGE

all DOGE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.049%

Price spread now: Kalshi against Coinbase International+0.083%7-day average −0.065% · 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−$27as in the Price arb table

costs, in and out, $10k−$410.414% of the position

Long on Coinbase International Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.105%−$11 on $10k

Price spread, last 3 days (all we have)−0.086%−$9 · spread now +0.083%, 7d avg −0.065%

Together, before fees−0.191%−$19 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.148% dearer against Coinbase International than usual: you sell high and buy low (spread +0.083% now, against its 7-day average of −0.065%): +$15 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 2.1 days. At the pace of the last 7 days (−0.105% in total) that is about 9.9 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.105% in total (about -5.5% 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	Coinbase International DOGE-PERP-INTX	0.1011	0.0240	pay 0.0030% / 1h	42m 21s	$2.0M	$24.3M	50x
Short	Kalshi KXDOGEPERP	0.1012	0	get 0.0000% / 8h	4h 42m	$420K	$4.7M	2.8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Coinbase International. 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 Coinbase InternationalbpFee KalshibpOrdersPrice spread, now +0.083%Rate

Funding earned: −$50.4
Price spread: +0.083% → −0.065%: $14.84
Slippage, 4 orders: −$21.37
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$76.93
Costs to cover: 0.414%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; Kalshi: live order book, 1 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 Coinbase International live order book, 2 min ago	1.97 bp	10.1 bp −$10	15.9 bp −$159	47.8 bp −$4,783	doesn't fit
Sell Kalshi live order book, 1 min ago	5.23 bp	12.2 bp −$12	17.7 bp −$177	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	−0.0242%	8h	0.1009	−0.198%	$153.7M	$268.5M	75x	as long as short
Kalshi KXDOGEPERPshort	0.0000%	8h	0.1012	+0.083%	$420K	$4.7M	2.8x
Deribit DOGE_USDC-PERPETUAL	0.0000%	1h	0.1010	−0.108%	$611K	$113K	25x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.1010	−0.122%	$25K	—	150x	as long as short
Gate DOGE_USDT	+0.0077%	8h	0.1009	−0.168%	$243.5M	$126.2M	75x	as long as short
dYdX DOGE-USD	+0.0088%	1h	0.1011	−0.043%	$227K	$44K	10x	as long as short
Lighter DOGE	+0.0096%	1h	0.1011	−0.045%	$815K	$5.5M	15x	as long as short
Katana Perps DOGE-USD	+0.0097%	8h	0.1010	−0.138%	$975	$389K	10x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.1009	−0.168%	$602K	$899K	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.1010	−0.077%	$5.1M	$45.3M	75x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica DOGE	+0.0100%	1h	0.1011	−0.025%	$337K	$506K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.1011	−0.054%	$323.0M	$1.36B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.1010	−0.129%	$159.3M	$429.6M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.1010	−0.089%	$109.9M	$952.4M	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.1010	−0.069%	$31K	$80K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.1015	+0.336%	$389K	$12K	10x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.1010	−0.119%	$112.8M	$220.1M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.1010	−0.119%	$66.4M	$41.8M	75x	as long as short
BingX DOGE-USDC	+0.0100%	8h	0.1010	−0.129%	—	$3.4M	—	as long as short
Variational Omni DOGE	+0.0100%	8h	0.1018	+0.724%	$1.1M	$8.1M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.1018	+0.728%	$279K	$118.3M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.1018	+0.682%	$641K	$4.6M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.1019	+0.781%	$150K	$249K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.1010	−0.148%	$261K	$555K	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.1010	−0.119%	$73K	$433K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.1010	−0.127%	$25K	$1K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.1010	−0.071%	$36K	$2.2M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.1010	−0.109%	$2K	$3.6M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.1010	−0.093%	$6.1M	$51.5M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.1010	−0.069%	$93.5M	$19.2M	50x	as long as short
Paradex DOGE-USD-PERP	+0.0100%	8h	0.1010	−0.116%	$18K	$5K	30x	as long as short
Kraken Futures PF_DOGEUSD	+0.0104%	1h	0.1010	−0.109%	$6.0M	$33.2M	50x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.1010	−0.136%	$557K	$3.7M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.1010	−0.119%	$19K	—	3x	as long as short
Reya DOGERUSDPERP	+0.0178%	1h	0.1010	−0.122%	$2K	—	20x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.1012	+0.079%	$15.4M	$25.5M	75x	as long as short
Phoenix DOGE	+0.0239%	1h	0.1015	+0.391%	$67K	$281K	10x	as long as short
Coinbase International DOGE-PERP-INTXlong	+0.0240%	1h	0.1011	long leg	$2.0M	$24.3M	50x
GMX DOGE/USD [ETH-USDC]	L +0.0253% / S −0.0291%	1h	0.1010	−0.119%	$331K	—	200x	as long as short
01 Exchange DOGEUSD	+0.0256%	1h	0.1010	−0.088%	$533	$4K	10x	as long as short
Backpack DOGE_USDC_PERP	+0.0450%	1h	0.1012	+0.099%	$541K	$963K	15x	as long as short
RISEx DOGE/USDC	+0.0708%	1h	0.1010	−0.069%	$317K	$475K	10x	as long as short
Hyperliquid DOGE	+0.0952%	1h	0.1012	+0.042%	$118.1M	$88.1M	10x	as long as short
Injective DOGE/USDC PERP	+0.1039%	1h	0.1020	+0.880%	$5K	$239K	12x	as long as short