Funding arb · Price arb /

DOGE

all DOGE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0072%/8h= +7.9% APRpaid last 24h +0.032%

Price spread now: MEXC against Deribit+0.139%7-day average −0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$4as in the Price arb table

costs, in and out, $10k−$190.191% of the position

Long on Deribit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.155%+$15 on $10k

Price spread, last 3 days (all we have)−0.144%−$14 · spread now +0.139%, 7d avg −0.011%

Together, before fees+0.011%+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and MEXC is 0.150% dearer against Deribit than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of −0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit DOGE_USDC-PERPETUAL	0.1007	0.0028	pay 0.0003% / 1h	5m 01s	$605K	$119K	25x
Short	MEXC DOGE_USDT	0.1008	0.0100	get 0.0100% / 8h	7h 05m	$113.6M	$226.4M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Deribit. 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 DeribitbpFee MEXCbpOrdersPrice spread, now +0.139%Rate

Funding earned: $15.12
Price spread: +0.139% → −0.011%: $15.03
Slippage, 4 orders: −$12.07
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee MEXC: 0 bp × 2 orders: $0
Net: $11.08
Costs to cover: 0.191%
Break-even: 1.9 days

Slippage from Deribit: live order book, 4 min ago; MEXC: 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 Deribit live order book, 4 min ago	4.46 bp	8.0 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	0.50 bp	0.5 bp $0	1.3 bp −$13	10.6 bp −$1,055	46.2 bp −$23.1K

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	−0.0163%	8h	0.1006	−0.060%	$152.7M	$271.6M	75x	as long as short
Kraken Futures PF_DOGEUSD	−0.0077%	1h	0.1006	−0.023%	$6.0M	$33.9M	50x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.1007	+0.067%	$416K	$4.9M	2.8x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.1006	−0.033%	$24K	—	150x	as long as short
dYdX DOGE-USD	+0.0010%	1h	0.1007	+0.012%	$226K	$44K	10x	as long as short
Deribit DOGE_USDC-PERPETUALlong	+0.0028%	1h	0.1007	long leg	$605K	$119K	25x
Lighter DOGE	+0.0096%	1h	0.1007	+0.054%	$795K	$5.9M	15x	as long as short
Katana Perps DOGE-USD	+0.0100%	8h	0.1007	+0.020%	$845	$425K	10x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.1007	+0.010%	$516K	$972K	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.1006	−0.020%	$5.1M	$46.8M	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	0.1007	+0.098%	$336K	$512K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.1006	0.000%	$320.0M	$1.41B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.1007	+0.010%	$160.5M	$439.0M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.1007	+0.030%	$111.1M	$971.9M	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.1008	+0.129%	$28K	$95K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.1009	+0.281%	$387K	$5K	10x	as long as short
Gate DOGE_USDT	+0.0100%	8h	0.1006	−0.060%	$244.7M	$131.6M	75x	as long as short
MEXC DOGE_USDTshort	+0.0100%	8h	0.1008	+0.139%	$113.6M	$226.4M	300x
KuCoin DOGEUSDTM	+0.0100%	8h	0.1008	+0.129%	$66.2M	$42.5M	75x	as long as short
BingX DOGE-USDT	+0.0100%	8h	0.1006	−0.010%	—	$76.2M	—	as long as short
Backpack DOGE_USDC_PERP	+0.0100%	1h	0.1006	−0.010%	$366K	$1.1M	15x	as long as short
Variational Omni DOGE	+0.0100%	8h	0.1006	−0.033%	$994K	$8.1M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.1009	+0.214%	$270K	$125.0M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.1011	+0.437%	$645K	$4.5M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.1012	+0.546%	$149K	$268K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.1006	−0.050%	$264K	$635K	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.1006	−0.020%	$74K	$426K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.1006	−0.046%	$25K	$1K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.1007	+0.084%	$35K	$2.2M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.1006	−0.010%	$2K	$3.8M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.1006	−0.050%	$6.0M	$53.0M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.1006	−0.020%	$92.9M	$17.9M	50x	as long as short
Paradex DOGE-USD-PERP	+0.0100%	8h	0.1007	+0.046%	$18K	$6K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.1007	+0.001%	$531K	$3.9M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.1006	−0.029%	$19K	—	3x	as long as short
01 Exchange DOGEUSD	+0.0168%	1h	0.1007	+0.091%	$532	$4K	10x	as long as short
Reya DOGERUSDPERP	+0.0183%	1h	0.1006	−0.005%	$2K	—	20x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.1007	0.000%	$15.5M	$25.7M	75x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0240%	1h	0.1007	+0.010%	$2.0M	$25.2M	50x	as long as short
Phoenix DOGE	+0.0240%	1h	0.1008	+0.107%	$65K	$283K	10x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0247% / S −0.0271%	1h	0.1006	−0.040%	$316K	—	200x	as long as short
RISEx DOGE/USDC	+0.0701%	1h	0.1008	+0.100%	$325K	$404K	10x	as long as short
Hyperliquid DOGE	+0.0760%	1h	0.1008	+0.112%	$123.1M	$95.9M	10x	as long as short
Injective DOGE/USDC PERP	+0.0973%	1h	0.1012	+0.546%	$5K	$239K	12x	as long as short