Funding arb · Price arb /

DOGE

all DOGE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0150%/8h= −16.5% APRpaid last 24h −0.038%

Price spread now: OKX against GMX−0.036%7-day average −0.029% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on GMX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.143%−$14 on $10k

Price spread, last 4 days (all we have)+0.003%$0 · spread now −0.036%, 7d avg −0.029%

Together, before fees−0.140%−$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.029%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX DOGE/USD [ETH-USDC]	0.1002	L +0.0250% / S −0.0294%	pay 0.0031% / 1h	5m 43s	$316K	—	200x
Short	OKX DOGE-USDT-SWAP	0.1002	0.0100	get 0.0100% / 8h	2h 05m	$117.8M	$1.19B	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against GMX. 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 GMXbpFee OKXbpOrdersPrice spread, now −0.036%Rate

Funding earned: −$31.58
Price spread: −0.036% → −0.029%: −$0.68
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$54.26
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; OKX: live order book, 3 min ago. Net counts fees only.

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 GMX no order-book sample	—	—	—	—	—
Sell OKX live order book, 3 min ago	0.50 bp	7.2 bp −$7	10.0 bp −$100	17.9 bp −$1,794	35.2 bp −$17.6K

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Kalshi KXDOGEPERP	0.0000%	8h	0.1002	+0.043%	$599K	$6.6M	2.8x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.1002	+0.003%	$34K	—	150x	as long as short
Kraken Futures PF_DOGEUSD	+0.0002%	1h	0.1002	−0.025%	$5.7M	$40.2M	50x	as long as short
dYdX DOGE-USD	+0.0025%	1h	0.1002	−0.049%	$225K	$69K	10x	as long as short
Polymarket Perps DOGE-USD	+0.0042%	1h	0.1001	−0.066%	$269K	$1.2M	10x	as long as short
Lighter DOGE	+0.0096%	1h	0.1003	+0.055%	$856K	$6.8M	15x	as long as short
Bitget DOGEUSDT	+0.0097%	8h	0.1001	−0.156%	$142.9M	$343.1M	75x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.1001	−0.081%	$540K	$1.1M	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.1002	−0.028%	$4.4M	$57.9M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.1002	−0.018%	$321K	$514K	20x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance DOGEUSDT	+0.0100%	8h	0.1002	−0.036%	$329.2M	$1.70B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.1001	−0.086%	$165.7M	$519.6M	75x	as long as short
OKX DOGE-USDT-SWAPshort	+0.0100%	8h	0.1002	−0.036%	$117.8M	$1.19B	50x
Bulk DOGE-USD	+0.0100%	1h	0.09955	−0.657%	$382K	$16K	10x	as long as short
Gate DOGE_USDT	+0.0100%	8h	0.1001	−0.096%	$248.4M	$155.2M	75x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.1002	−0.046%	$112.6M	$257.4M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.1002	−0.056%	$66.5M	$49.9M	75x	as long as short
BingX DOGE-USDC	+0.0100%	8h	0.1001	−0.086%	—	$3.5M	—	as long as short
Backpack DOGE_USDC_PERP	+0.0100%	1h	0.1002	+0.024%	$315K	$1.3M	15x	as long as short
Variational Omni DOGE	+0.0100%	8h	0.1002	−0.018%	$1.1M	$8.7M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.09982	−0.380%	$313K	$139.5M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.09997	−0.239%	$636K	$4.7M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.1000	−0.206%	$148K	$345K	25x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.1002	+0.024%	$64K	$478K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.1002	+0.014%	$19K	$7K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.1002	+0.041%	$35K	$2.3M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.1002	+0.014%	$2K	$5.3M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.1002	+0.042%	$5.9M	$68.5M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.1002	−0.036%	$92.0M	$17.0M	50x	as long as short
Paradex DOGE-USD-PERP	+0.0100%	8h	0.1001	−0.073%	$18K	$5K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.1001	−0.109%	$487K	$4.1M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.1002	+0.034%	$19K	—	3x	as long as short
Katana Perps DOGE-USD	+0.0110%	8h	0.1001	−0.106%	$1K	$527K	10x	as long as short
Hyperliquid DOGE	+0.0114%	1h	0.1003	+0.064%	$124.2M	$116.2M	10x	as long as short
Reya DOGERUSDPERP	+0.0195%	1h	0.1002	−0.018%	$2K	—	20x	as long as short
01 Exchange DOGEUSD	+0.0200%	1h	0.1002	−0.041%	$445	$4K	10x	as long as short
Deribit DOGE_USDC-PERPETUAL	+0.0209%	1h	0.1003	+0.054%	$575K	$252K	25x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.1001	−0.076%	$15.9M	$27.1M	75x	as long as short
Arcus DOGE-USD	+0.0231%	1h	0.1001	−0.086%	$27K	$300K	10x	as long as short
Phoenix DOGE	+0.0240%	1h	0.1000	−0.185%	$18K	$382K	10x	as long as short
GMX DOGE/USD [ETH-USDC]long	L +0.0250% / S −0.0294%	1h	0.1002	long leg	$316K	—	200x
Coinbase International DOGE-PERP-INTX	+0.0304%	1h	0.1002	−0.006%	$2.0M	$34.5M	50x	as long as short
RISEx DOGE/USDC	+0.0686%	1h	0.1002	−0.029%	$405K	$453K	10x	as long as short
Injective DOGE/USDC PERP	+0.1217%	1h	0.1053	+5.084%	$6K	$242K	12x	as long as short