Funding you earn now, next payment 01:00 UTC+0.0241%/8h= +26.4% APRnext payment +$0.30 per $10,000 · paid last 24h −0.008%
Price spread now: Phoenix against dYdX−0.371%7-day average +0.052% · you buy dearer than you sell
Net, funding: paid 7d − costs−$117as in the Funding arb table
Net, price: spread back to 7d avg − costs−$146as in the Price arb table
costs, in and out, $10k−$1041.039% of the position
Funding, last 7 days−0.128%−$13 on $10k
+Price spread, last 4 days (all we have)+1.057%+$106 · spread now −0.371%, 7d avg +0.052%
=Funding pays, the price is against you. Phoenix is 0.424% cheaper against dYdX than usual: you would sell low and buy high (spread −0.371% now, against its 7-day average of +0.052%). If the spread goes back, that is −$42 on $10k: about 5.9 days of funding at the current rate (+$7 a day). Mind the row above: over the last 7 days funding on this pair cost −0.128%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.128% in total (about -6.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.30 per $10,000. 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 | dYdX DOGE-USD | 0.09988 | 0 | get 0.0000% / 1h | 55m 30s | $224K | $49K | 10x |
| Short | Phoenix DOGE | 0.09951 | 0.0241 | get 0.0030% / 1h | 55m 30s | $65K | $288K | 10x |
dYdX DOGE-USD
Phoenix DOGEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against dYdX. 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
- $50.65
- Price spread: −0.371% → +0.052%
- −$42.35
- Slippage, 4 orders
- −$86.85
- Fee dYdX: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$95.55
- Costs to cover
- 1.039%
- Break-even
- 20.2 days
Slippage from dYdX: live order book, 9 min ago; Phoenix: live order book, 68 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 dYdX live order book, 9 min ago | 33.36 bp | 40.8 bp −$41 | 123.6 bp −$1,236 | 172.1 bp −$17.2K | 181.7 bp −$90.9K |
| Sell Phoenix live order book, 68 min ago | 1.00 bp | 12.3 bp −$12 | 43.1 bp −$431 | doesn't fit | doesn't fit |
DOGE on 43 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 | −0.0091% | 8h | 0.09971 | −0.170% | $150.9M | $273.2M | 75x | as long as short |
| dYdX DOGE-USDlong | 0.0000% | 1h | 0.09988 | long leg | $224K | $49K | 10x | |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.1002 | +0.332% | $395K | $5.0M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.09980 | −0.082% | $24K | — | 150x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0089% | 1h | 0.1002 | +0.341% | $599K | $118K | 25x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.09996 | +0.083% | $812K | $6.1M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0099% | 8h | 0.09982 | −0.060% | $834 | $430K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.09984 | −0.040% | $532K | $988K | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.09995 | +0.071% | $4.7M | $48.1M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.09993 | +0.052% | $328K | $482K | 20x | as long as short |
Bitget DOGEUSDT
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 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance DOGEUSDT | +0.0100% | 8h | 0.09982 | −0.060% | $318.3M | $1.43B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09982 | −0.060% | $159.8M | $437.2M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09983 | −0.050% | $111.2M | $981.7M | 50x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09990 | +0.020% | $383K | $5K | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.09980 | −0.080% | $242.3M | $130.9M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09982 | −0.060% | $113.7M | $228.5M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09984 | −0.040% | $66.0M | $43.1M | 75x | as long as short |
| BingX DOGE-USDC | +0.0100% | 8h | 0.09981 | −0.070% | — | $3.5M | — | as long as short |
| Backpack DOGE_USDC_PERP | +0.0100% | 1h | 0.1001 | +0.190% | $335K | $1.1M | 15x | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.1002 | +0.369% | $998K | $8.2M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.09950 | −0.381% | $292K | $128.6M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.09953 | −0.349% | $625K | $4.4M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.09950 | −0.380% | $146K | $274K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.09981 | −0.070% | $256K | $729K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.09981 | −0.070% | $70K | $440K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1002 | +0.364% | $25K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1004 | +0.516% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1002 | +0.320% | $2K | $3.8M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1001 | +0.194% | $6.0M | $55.7M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.1001 | +0.200% | $92.2M | $16.8M | 50x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09989 | +0.006% | $561K | $4.0M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1002 | +0.337% | $19K | — | 3x | as long as short |
| Paradex DOGE-USD-PERP | +0.0106% | 8h | 0.09995 | +0.067% | $18K | $6K | 30x | as long as short |
| Reya DOGERUSDPERP | +0.0186% | 1h | 0.09981 | −0.072% | $2K | — | 20x | as long as short |
| Phoenix DOGEshort | +0.0241% | 1h | 0.09951 | −0.371% | $65K | $288K | 10x | |
| GMX DOGE/USD [ETH-USDC] | L +0.0246% / S −0.0267% | 1h | 0.09980 | −0.080% | $311K | — | 200x | as long as short |
| 01 Exchange DOGEUSD | +0.0248% | 1h | 0.09992 | +0.041% | $533 | $4K | 10x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0248% | 1h | 0.1003 | +0.420% | $2.3M | $25.9M | 50x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0305% | 1h | 0.1002 | +0.296% | $5.8M | $34.7M | 50x | as long as short |
| Hyperliquid DOGE | +0.0433% | 1h | 0.09989 | +0.014% | $121.6M | $99.7M | 10x | as long as short |
| RISEx DOGE/USDC | +0.0747% | 1h | 0.09996 | +0.080% | $402K | $367K | 10x | as long as short |
| Arcus DOGE-USD | +0.0781% | 1h | 0.1000 | +0.150% | $129K | $179K | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1072% | 1h | 0.09970 | −0.180% | $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-USDC
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
Extended DOGE-USD
Aevo DOGE-PERP
Paradex DOGE-USD-PERP
Reya DOGERUSDPERP
GMX DOGE/USD [ETH-USDC]
01 Exchange DOGEUSD
Coinbase International DOGE-PERP-INTX
Kraken Futures PF_DOGEUSD
Hyperliquid DOGE
RISEx DOGE/USDC
Arcus DOGE-USD
Injective DOGE/USDC PERP