Funding you earn now, next payment 07:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.017%
Price spread now: Phemex against Deribit−0.020%7-day average +0.009% · you buy dearer than you sell
Net, funding: paid 7d − costs−$24as in the Funding arb table
Net, price: spread back to 7d avg − costs−$42as in the Price arb table
costs, in and out, $10k−$400.396% of the position
Funding, last 7 days+0.159%+$16 on $10k
+Price spread, last 4 days (all we have)+0.002%$0 · spread now −0.020%, 7d avg +0.009%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Phemex is 0.029% cheaper against Deribit than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.009%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.159%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit DOGE_USDC-PERPETUAL | 0.09996 | 0.0200 | pay 0.0025% / 1h | 59m 36s | $573K | $252K | 25x |
| Short | Phemex DOGEUSDT | 0.09994 | 0.0100 | get 0.0100% / 8h | 59m 36s | $91.6M | $17.1M | 50x |
Deribit DOGE_USDC-PERPETUAL
Phemex DOGEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Deribit. 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
- −$21
- Price spread: −0.020% → +0.009%
- −$2.89
- Slippage, 4 orders
- −$20.57
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$63.46
- Costs to cover
- 0.396%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 44 min ago; Phemex: live order book, 5 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, 44 min ago | 4.51 bp | 9.0 bp −$9 | 16.9 bp −$169 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 5 min ago | 1.00 bp | 10.2 bp −$10 | 15.7 bp −$157 | 33.9 bp −$3,386 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_DOGEUSD | −0.0083% | 1h | 0.09993 | −0.031% | $5.6M | $40.6M | 50x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.09984 | −0.122% | $612K | $6.6M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.09991 | −0.046% | $35K | — | 150x | as long as short |
| dYdX DOGE-USD | +0.0003% | 1h | 0.09978 | −0.185% | $224K | $69K | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.0033% | 1h | 0.1053 | +5.342% | $6K | $242K | 12x | as long as short |
| Bitget DOGEUSDT | +0.0035% | 8h | 0.09973 | −0.230% | $141.4M | $344.5M | 75x | as long as short |
| Polymarket Perps DOGE-USD | +0.0047% | 1h | 0.09985 | −0.110% | $263K | $1.2M | 10x | as long as short |
| Phoenix DOGE | +0.0080% | 1h | 0.1002 | +0.271% | $18K | $382K | 10x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.09984 | −0.120% | $846K | $6.8M | 15x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.09993 | −0.030% | $538K | $1.1M | 10x | as long as short |
Kraken Futures PF_DOGEUSD
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
dYdX DOGE-USD
Injective DOGE/USDC PERP
Bitget DOGEUSDT
Polymarket Perps DOGE-USD
Phoenix DOGE
Lighter DOGE
Nado DOGE-PERPShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid DOGE | +0.0100% | 1h | 0.09982 | −0.138% | $124.2M | $117.0M | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.09982 | −0.143% | $4.5M | $58.8M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.09976 | −0.196% | $318K | $501K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.09984 | −0.120% | $329.6M | $1.72B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09980 | −0.160% | $164.3M | $522.6M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09986 | −0.100% | $117.2M | $1.21B | 50x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09979 | −0.168% | $383K | $16K | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.09974 | −0.220% | $249.5M | $154.7M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09975 | −0.210% | $112.1M | $256.8M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09976 | −0.200% | $66.7M | $50.0M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.09972 | −0.240% | — | $53.4M | — | as long as short |
| Backpack DOGE_USDC_PERP | +0.0100% | 1h | 0.09989 | −0.070% | $302K | $1.3M | 15x | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.09969 | −0.273% | $1.1M | $8.7M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.09981 | −0.147% | $303K | $140.3M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.09977 | −0.194% | $629K | $4.6M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.09980 | −0.160% | $146K | $341K | 25x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.09991 | −0.050% | $70K | $470K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1000 | +0.064% | $19K | $7K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09998 | +0.016% | $34K | $2.3M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.09993 | −0.030% | $2K | $5.4M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09992 | −0.043% | $5.9M | $69.1M | 75x | as long as short |
| Phemex DOGEUSDTshort | +0.0100% | 8h | 0.09994 | −0.020% | $91.6M | $17.1M | 50x | |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.09973 | −0.234% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09976 | −0.198% | $490K | $4.1M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.09992 | −0.040% | $19K | — | 3x | as long as short |
| Katana Perps DOGE-USD | +0.0107% | 8h | 0.09983 | −0.130% | $834 | $536K | 10x | as long as short |
| Reya DOGERUSDPERP | +0.0198% | 1h | 0.09990 | −0.057% | $2K | — | 20x | as long as short |
| Deribit DOGE_USDC-PERPETUALlong | +0.0200% | 1h | 0.09996 | long leg | $573K | $252K | 25x | |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.09979 | −0.170% | $16.2M | $27.1M | 75x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0240% | 1h | 0.09995 | −0.010% | $1.9M | $34.8M | 50x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0250% / S −0.0297% | 1h | 0.09992 | −0.040% | $315K | — | 200x | as long as short |
| 01 Exchange DOGEUSD | +0.0272% | 1h | 0.09990 | −0.055% | $444 | $4K | 10x | as long as short |
| Arcus DOGE-USD | +0.0387% | 1h | 0.09980 | −0.160% | $17K | $308K | 10x | as long as short |
| RISEx DOGE/USDC | +0.0626% | 1h | 0.09998 | +0.025% | $402K | $458K | 10x | as long as short |
Hyperliquid DOGE
Aster DOGEUSDT
Pacifica DOGE
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
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
Katana Perps DOGE-USD
Reya DOGERUSDPERP
BloFin DOGE-USDT
Coinbase International DOGE-PERP-INTX
GMX DOGE/USD [ETH-USDC]
01 Exchange DOGEUSD
Arcus DOGE-USD
RISEx DOGE/USDC