DOGE

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0196%/8h= −21.5% APRnext payment −$0.25 per $10,000 · paid last 24h −0.129%

Price spread now: Kraken Futures against Hyperliquid−0.099%7-day average −0.059% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$320.316% of the position

Long on Hyperliquid Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.110%−$11 on $10k

Price spread, last 4 days (all we have)−0.123%−$12 · spread now −0.099%, 7d avg −0.059%

Together, before fees−0.233%+ Points / potential airdropHyperliquid: Season 2 · farm board−$23 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Kraken Futures is 0.041% cheaper against Hyperliquid than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.059%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.110% in total (about -5.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.25 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	Hyperliquid DOGE	0.09906	0.0100	pay 0.0013% / 1h	37m 33s	$123.6M	$116.7M	10x
Short	Kraken Futures PF_DOGEUSD	0.09896	−0.0096	pay 0.0012% / 1h	37m 33s	$5.5M	$40.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.099%Rate

Funding earned: −$41.2
Price spread: −0.099% → −0.059%: −$4.06
Slippage, 4 orders: −$12.59
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$76.86
Costs to cover: 0.316%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; Kraken Futures: live order book, 2 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, 6 min ago	0.05 bp	5.4 bp −$5	8.1 bp −$81	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 2 min ago	1.52 bp	9.9 bp −$10	12.5 bp −$125	26.2 bp −$2,620	183.5 bp −$91.8K

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_DOGEUSDshort	−0.0096%	1h	0.09896	−0.099%	$5.5M	$40.6M	50x
Bitget DOGEUSDT	−0.0012%	8h	0.09889	−0.168%	$140.5M	$346.4M	75x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.09888	−0.181%	$553K	$6.6M	2.8x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.09888	−0.178%	$35K	—	150x	as long as short
Injective DOGE/USDC PERP	+0.0033%	1h	0.1053	+6.304%	$6K	$242K	12x	as long as short
Phoenix DOGE	+0.0081%	1h	0.09902	−0.032%	$18K	$386K	10x	as long as short
Lighter DOGE	+0.0096%	1h	0.09905	−0.003%	$827K	$6.8M	15x	as long as short
Katana Perps DOGE-USD	+0.0100%	8h	0.09894	−0.117%	$1K	$545K	10x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.09880	−0.258%	$535K	$1.1M	10x	as long as short
Hyperliquid DOGElong	+0.0100%	1h	0.09906	long leg	$123.6M	$116.7M	10x

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster DOGEUSDT	+0.0100%	8h	0.09897	−0.089%	$4.9M	$58.8M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.09898	−0.079%	$321K	$484K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.09898	−0.078%	$327.5M	$1.71B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.09892	−0.137%	$163.7M	$520.8M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.09895	−0.107%	$115.5M	$1.19B	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.09897	−0.087%	$16K	$306K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.09875	−0.309%	$377K	$2K	10x	as long as short
Gate DOGE_USDT	+0.0100%	8h	0.09893	−0.127%	$250.5M	$153.5M	75x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.09896	−0.097%	$118.4M	$258.7M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.09899	−0.067%	$66.3M	$49.4M	75x	as long as short
BingX DOGE-USDC	+0.0100%	8h	0.09889	−0.168%	—	$3.5M	—	as long as short
Backpack DOGE_USDC_PERP	+0.0100%	1h	0.09906	+0.004%	$302K	$1.3M	15x	as long as short
Variational Omni DOGE	+0.0100%	8h	0.09878	−0.280%	$1.1M	$8.5M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.09878	−0.278%	$300K	$139.1M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.09890	−0.157%	$621K	$4.4M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.09890	−0.157%	$141K	$347K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.09887	−0.188%	$257K	$1.2M	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.09888	−0.178%	$71K	$465K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.09881	−0.243%	$18K	$7K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.09886	−0.200%	$35K	$2.2M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.09894	−0.117%	$2K	$5.4M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.09896	−0.101%	$5.8M	$69.0M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.09894	−0.117%	$90.4M	$16.5M	50x	as long as short
Paradex DOGE-USD-PERP	+0.0100%	8h	0.09895	−0.107%	$18K	$5K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.09890	−0.153%	$481K	$4.1M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.09893	−0.130%	$19K	—	3x	as long as short
Deribit DOGE_USDC-PERPETUAL	+0.0134%	1h	0.09898	−0.079%	$561K	$294K	25x	as long as short
Reya DOGERUSDPERP	+0.0202%	1h	0.09885	−0.205%	$2K	—	20x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0208%	1h	0.09889	−0.168%	$1.9M	$34.8M	50x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.09879	−0.269%	$15.5M	$26.7M	75x	as long as short
01 Exchange DOGEUSD	+0.0224%	1h	0.09901	−0.048%	$456	$4K	10x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0238% / S −0.0213%	1h	0.09888	−0.179%	$304K	—	200x	as long as short
dYdX DOGE-USD	+0.0624%	1h	0.09900	−0.055%	$232K	$73K	10x	as long as short
RISEx DOGE/USDC	+0.0717%	1h	0.09902	−0.036%	$398K	$448K	10x	as long as short