Funding you earn now, next payment 02:00 UTC−0.0145%/8h= −15.9% APRpaid last 24h −0.038%
Price spread now: Phemex against GMX+0.021%7-day average −0.015% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.125%−$12 on $10k
+Price spread, last 3 days (all we have)−0.076%−$8 · spread now +0.021%, 7d avg −0.015%
=The price spread pays, funding is against you. Phemex is 0.036% dearer against GMX than usual: you sell high and buy low (spread +0.021% now, against its 7-day average of −0.015%): +$4 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 20 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX DOGE/USD [ETH-USDC] | 0.09918 | L +0.0245% / S −0.0267% | pay 0.0031% / 1h | 19m 30s | $309K | — | 200x |
| Short | Phemex DOGEUSDT | 0.09920 | 0.0100 | get 0.0100% / 8h | 6h 19m | $91.4M | $16.9M | 50x |
GMX DOGE/USD [ETH-USDC]
Phemex DOGEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against GMX. 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
- −$30.45
- Price spread: +0.021% → −0.015%
- $3.63
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$50.83
- Costs to cover
- 0.240%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Phemex: live order book, 5 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 Phemex live order book, 5 min ago | 1.00 bp | 10.2 bp −$10 | 14.5 bp −$145 | 34.4 bp −$3,436 | doesn't fit |
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 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 | −0.0107% | 8h | 0.09924 | +0.062% | $150.4M | $273.2M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.09930 | +0.122% | $390K | $5.0M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.09924 | +0.057% | $23K | — | 150x | as long as short |
| dYdX DOGE-USD | +0.0014% | 1h | 0.09919 | +0.007% | $223K | $49K | 10x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0032% | 1h | 0.09917 | −0.010% | $592K | $118K | 25x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0067% | 1h | 0.09915 | −0.028% | $5.8M | $34.2M | 50x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.09939 | +0.214% | $820K | $6.1M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0099% | 8h | 0.09926 | +0.082% | $829 | $428K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.09924 | +0.056% | $528K | $989K | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.09924 | +0.064% | $4.6M | $48.2M | 75x | as long as short |
Bitget DOGEUSDT
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
dYdX DOGE-USD
Deribit DOGE_USDC-PERPETUAL
Kraken Futures PF_DOGEUSD
Lighter DOGE
Katana Perps DOGE-USD
Nado DOGE-PERP
Aster DOGEUSDTShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica DOGE | +0.0100% | 1h | 0.09927 | +0.095% | $326K | $503K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.09927 | +0.088% | $314.8M | $1.43B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09930 | +0.122% | $157.2M | $440.8M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09932 | +0.142% | $109.9M | $977.5M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.09936 | +0.182% | $128K | $178K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09984 | +0.664% | $383K | $5K | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.09923 | +0.051% | $240.8M | $132.6M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09925 | +0.072% | $110.7M | $230.0M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09926 | +0.082% | $65.6M | $43.1M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.09926 | +0.082% | — | $76.4M | — | as long as short |
| Backpack DOGE_USDC_PERP | +0.0100% | 1h | 0.09929 | +0.112% | $339K | $1.1M | 15x | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.09945 | +0.270% | $992K | $8.2M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.09948 | +0.307% | $282K | $128.8M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.09957 | +0.394% | $636K | $4.5M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.09950 | +0.324% | $145K | $270K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.09926 | +0.080% | $256K | $642K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.09932 | +0.142% | $70K | $440K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.09918 | −0.003% | $24K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09926 | +0.079% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.09918 | +0.001% | $2K | $3.7M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09919 | +0.010% | $5.9M | $55.0M | 75x | as long as short |
| Phemex DOGEUSDTshort | +0.0100% | 8h | 0.09920 | +0.021% | $91.4M | $16.9M | 50x | |
| Extended DOGE-USD | +0.0104% | 1h | 0.09921 | +0.035% | $558K | $4.0M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.09914 | −0.037% | $19K | — | 3x | as long as short |
| Paradex DOGE-USD-PERP | +0.0109% | 8h | 0.09922 | +0.043% | $18K | $6K | 30x | as long as short |
| Reya DOGERUSDPERP | +0.0185% | 1h | 0.09931 | +0.129% | $2K | — | 20x | as long as short |
| 01 Exchange DOGEUSD | +0.0208% | 1h | 0.09929 | +0.114% | $529 | $4K | 10x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0240% | 1h | 0.09923 | +0.051% | $2.0M | $25.0M | 50x | as long as short |
| Phoenix DOGE | +0.0241% | 1h | 0.09941 | +0.237% | $65K | $284K | 10x | as long as short |
| GMX DOGE/USD [ETH-USDC]long | L +0.0245% / S −0.0267% | 1h | 0.09918 | long leg | $309K | — | 200x | |
| RISEx DOGE/USDC | +0.0563% | 1h | 0.09931 | +0.129% | $399K | $367K | 10x | as long as short |
| Hyperliquid DOGE | +0.0701% | 1h | 0.09936 | +0.182% | $121.4M | $97.7M | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1004% | 1h | 0.1000 | +0.828% | $5K | $239K | 12x | as long as short |
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Arcus DOGE-USD
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
Extended DOGE-USD
Aevo DOGE-PERP
Paradex DOGE-USD-PERP
Reya DOGERUSDPERP
01 Exchange DOGEUSD
Coinbase International DOGE-PERP-INTX
Phoenix DOGE
RISEx DOGE/USDC
Hyperliquid DOGE
Injective DOGE/USDC PERP