Funding you earn now, next payment 03:00 UTC−0.0196%/8h= −21.5% APRpaid last 24h −0.027%
Price spread now: Phemex against Coinbase International−0.040%7-day average −0.010% · 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−$49as in the Price arb table
costs, in and out, $10k−$460.462% of the position
Funding, last 7 days+0.053%+$5 on $10k
+Price spread, last 4 days (all we have)+0.063%+$6 · spread now −0.040%, 7d avg −0.010%
=Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Phemex is 0.030% cheaper against Coinbase International than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.010%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.053%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.053% in total (about 2.7% 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 | 0.1002 | 0.0296 | pay 0.0037% / 1h | 15m 48s | $2.3M | $27.4M | 50x |
| Short | Phemex DOGEUSDT | 0.1001 | 0.0100 | get 0.0100% / 8h | 4h 15m | $92.1M | $16.9M | 50x |
Coinbase International DOGE-PERP-INTX
Phemex DOGEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$41.16
- Price spread: −0.040% → −0.010%
- −$2.95
- Slippage, 4 orders
- −$24.24
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$90.36
- Costs to cover
- 0.462%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 3 min ago; Phemex: live order book, 3 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, 3 min ago | 1.50 bp | 9.6 bp −$10 | 15.8 bp −$158 | 44.9 bp −$4,490 | doesn't fit |
| Sell Phemex live order book, 3 min ago | 1.50 bp | 11.3 bp −$11 | 15.1 bp −$151 | 33.1 bp −$3,305 | 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 | −0.0036% | 8h | 0.1002 | −0.010% | $151.4M | $276.9M | 75x | as long as short |
| Kraken Futures PF_DOGEUSD | −0.0032% | 1h | 0.1001 | −0.036% | $5.7M | $35.7M | 50x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.1002 | −0.020% | $395K | $5.2M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.1001 | −0.076% | $24K | — | 150x | as long as short |
| dYdX DOGE-USD | +0.0014% | 1h | 0.1002 | +0.031% | $225K | $49K | 10x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.1003 | +0.141% | $735K | $6.3M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0098% | 8h | 0.1002 | −0.030% | $905 | $458K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1002 | 0.000% | $527K | $1.0M | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.1001 | −0.063% | $4.7M | $49.6M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.1003 | +0.095% | $325K | $484K | 20x | as long as short |
Bitget DOGEUSDT
Kraken Futures PF_DOGEUSD
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
dYdX DOGE-USD
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 | 0.1003 | +0.091% | $324.6M | $1.47B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.1003 | +0.100% | $164.3M | $448.6M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1003 | +0.100% | $114.0M | $1.02B | 50x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.1002 | +0.016% | $385K | $859 | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.1002 | −0.010% | $247.0M | $135.2M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1002 | +0.010% | $112.2M | $235.9M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1001 | −0.090% | $66.4M | $43.8M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.1002 | −0.020% | — | $77.0M | — | as long as short |
| Backpack DOGE_USDC_PERP | +0.0100% | 1h | 0.1001 | −0.120% | $321K | $1.2M | 15x | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.1001 | −0.062% | $1.1M | $8.2M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.09996 | −0.218% | $296K | $130.8M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.09995 | −0.230% | $629K | $4.4M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1000 | −0.180% | $146K | $289K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.1001 | −0.070% | $259K | $864K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.1001 | −0.050% | $70K | $440K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1001 | −0.046% | $25K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1002 | −0.008% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1002 | −0.030% | $2K | $4.0M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1001 | −0.038% | $6.0M | $58.3M | 75x | as long as short |
| Phemex DOGEUSDTshort | +0.0100% | 8h | 0.1001 | −0.040% | $92.1M | $16.9M | 50x | |
| Paradex DOGE-USD-PERP | +0.0101% | 8h | 0.1002 | +0.009% | $18K | $7K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1001 | −0.117% | $491K | $4.1M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1002 | −0.030% | $19K | — | 3x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0130% | 1h | 0.1002 | −0.016% | $599K | $119K | 25x | as long as short |
| Reya DOGERUSDPERP | +0.0190% | 1h | 0.1001 | −0.047% | $2K | — | 20x | as long as short |
| 01 Exchange DOGEUSD | +0.0216% | 1h | 0.1003 | +0.077% | $534 | $4K | 10x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.1003 | +0.170% | $15.9M | $25.5M | 75x | as long as short |
| Phoenix DOGE | +0.0242% | 1h | 0.1001 | −0.125% | $65K | $288K | 10x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0247% / S −0.0269% | 1h | 0.1001 | −0.073% | $313K | — | 200x | as long as short |
| Hyperliquid DOGE | +0.0262% | 1h | 0.1003 | +0.160% | $122.4M | $101.7M | 10x | as long as short |
| Coinbase International DOGE-PERP-INTXlong | +0.0296% | 1h | 0.1002 | long leg | $2.3M | $27.4M | 50x | |
| Arcus DOGE-USD | +0.0690% | 1h | 0.1003 | +0.140% | $109K | $199K | 10x | as long as short |
| RISEx DOGE/USDC | +0.0695% | 1h | 0.1003 | +0.085% | $405K | $413K | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1004% | 1h | 0.1003 | +0.120% | $5K | $239K | 12x | as long as short |
Binance DOGEUSDT
Bybit 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
Paradex DOGE-USD-PERP
Extended DOGE-USD
Aevo DOGE-PERP
Deribit DOGE_USDC-PERPETUAL
Reya DOGERUSDPERP
01 Exchange DOGEUSD
BloFin DOGE-USDT
Phoenix DOGE
GMX DOGE/USD [ETH-USDC]
Hyperliquid DOGE
Arcus DOGE-USD
RISEx DOGE/USDC
Injective DOGE/USDC PERP