DOGE

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0075%/8h= −8.2% APRnext payment −$0.09 per $10,000 · paid last 24h −0.087%

Price spread now: Backpack against Hyperliquid−0.085%7-day average −0.082% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$250.246% of the position

Long on Hyperliquid Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.082%−$8 on $10k

Price spread, last 4 days (all we have)−0.050%−$5 · spread now −0.085%, 7d avg −0.082%

Together, before fees−0.132%+ Points / potential airdropHyperliquid: Season 2 · farm board−$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.082%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid DOGE	0.1006	0.0487	pay 0.0061% / 1h	12m 26s	$114.6M	$84.9M	10x
Short	Backpack DOGE_USDC_PERP	0.1005	0.0412	get 0.0052% / 1h	12m 26s	$537K	$956K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Hyperliquid. 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 HyperliquidbpFee BackpackbpOrdersPrice spread, now −0.085%Rate

Funding earned: −$15.77
Price spread: −0.085% → −0.082%: −$0.23
Slippage, 4 orders: −$5.62
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$40.62
Costs to cover: 0.246%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 11 min ago; Backpack: live order book, 6 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 Hyperliquid live order book, 11 min ago	0.99 bp	6.4 bp −$6	7.9 bp −$79	doesn't fit	doesn't fit
Sell Backpack live order book, 6 min ago	0.50 bp	5.9 bp −$6	12.4 bp −$124	doesn't fit	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
Bitget DOGEUSDT	−0.0260%	8h	0.1004	−0.204%	$153.3M	$266.7M	75x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.1004	−0.168%	$415K	$4.7M	2.8x	as long as short
Deribit DOGE_USDC-PERPETUAL	0.0000%	1h	0.1003	−0.222%	$608K	$109K	25x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S −0.0001%	1h	0.1004	−0.144%	$32K	—	150x	as long as short
dYdX DOGE-USD	+0.0035%	1h	0.1004	−0.177%	$225K	$44K	10x	as long as short
Phoenix DOGE	+0.0081%	1h	0.1005	−0.056%	$66K	$222K	10x	as long as short
Lighter DOGE	+0.0096%	1h	0.1005	−0.070%	$791K	$5.4M	15x	as long as short
Katana Perps DOGE-USD	+0.0097%	8h	0.1004	−0.164%	$1K	$371K	10x	as long as short
Gate DOGE_USDT	+0.0097%	8h	0.1004	−0.174%	$241.9M	$124.9M	75x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.1005	−0.109%	$572K	$863K	10x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster DOGEUSDT	+0.0100%	8h	0.1004	−0.137%	$5.0M	$44.0M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.1004	−0.114%	$335K	$509K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.1004	−0.124%	$319.3M	$1.33B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.1004	−0.154%	$159.1M	$421.5M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.1004	−0.124%	$109.4M	$933.5M	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.1005	−0.085%	$28K	$76K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.1006	+0.057%	$386K	$14K	10x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.1004	−0.124%	$111.7M	$217.9M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.1004	−0.134%	$66.1M	$41.1M	75x	as long as short
BingX DOGE-USDC	+0.0100%	8h	0.1004	−0.134%	—	$3.4M	—	as long as short
Variational Omni DOGE	+0.0100%	8h	0.1004	−0.142%	$1.0M	$8.1M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.1004	−0.144%	$275K	$116.6M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.1004	−0.134%	$632K	$4.6M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.1005	−0.065%	$147K	$245K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.1004	−0.174%	$268K	$542K	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.1004	−0.144%	$73K	$432K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.1003	−0.250%	$25K	$1K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.1004	−0.196%	$35K	$2.2M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.1004	−0.204%	$2K	$3.6M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.1003	−0.277%	$6.0M	$50.6M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.1004	−0.194%	$93.0M	$19.2M	50x	as long as short
Paradex DOGE-USD-PERP	+0.0100%	8h	0.1004	−0.165%	$18K	$5K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.1004	−0.199%	$554K	$3.6M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.1004	−0.212%	$19K	—	3x	as long as short
Reya DOGERUSDPERP	+0.0177%	1h	0.1004	−0.144%	$2K	—	20x	as long as short
01 Exchange DOGEUSD	+0.0184%	1h	0.1005	−0.099%	$530	$4K	10x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0216%	1h	0.1004	−0.164%	$2.0M	$23.7M	50x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.1004	−0.204%	$15.3M	$25.0M	75x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0248% / S −0.0216%	1h	0.1004	−0.147%	$351K	—	200x	as long as short
Kraken Futures PF_DOGEUSD	+0.0363%	1h	0.1004	−0.213%	$5.9M	$32.8M	50x	as long as short
Backpack DOGE_USDC_PERPshort	+0.0412%	1h	0.1005	−0.085%	$537K	$956K	15x
Hyperliquid DOGElong	+0.0487%	1h	0.1006	long leg	$114.6M	$84.9M	10x
RISEx DOGE/USDC	+0.0702%	1h	0.1005	−0.080%	$315K	$476K	10x	as long as short
Injective DOGE/USDC PERP	+0.0966%	1h	0.1011	+0.532%	$5K	$239K	12x	as long as short