Funding arb · Price arb /

DOGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0962%/8h= −105.3% APRpaid last 24h −0.209%

Price spread now: OKX against Injective−2.840%7-day average −0.205% · you buy dearer than you sell

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

Long on Injective Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−1.548%−$155 on $10k

Price spread, last 4 days (all we have)+2.942%+$294 · spread now −2.840%, 7d avg −0.205%

Together, before fees+1.393%+$139 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$29 a day on $10k at the current rate, and OKX is 2.634% cheaper against Injective than usual: you would sell low and buy high (−$263 if the spread goes back to its 7-day average of −0.205%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective DOGE/USDC PERP	0.1053	0.1062	pay 0.0133% / 1h	20m 58s	$6K	$242K	12x
Short	OKX DOGE-USDT-SWAP	0.1023	0.0100	get 0.0100% / 8h	3h 20m	$116.4M	$1.15B	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Injective. 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 InjectivebpFee OKXbpOrdersPrice spread, now −2.840%Rate

Funding earned: −$202.02
Price spread: −2.840% → −0.205%: −$263.42
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee OKX: 5 bp × 2 orders: −$10
Net: −$475.46
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Injective: live order book, 33 min ago; 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 Injective live order book, 33 min ago	38.06 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	0.49 bp	7.0 bp −$7	8.6 bp −$86	19.6 bp −$1,962	50.3 bp −$25.1K

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	0.1024	−2.771%	$692K	$6.3M	2.8x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.1023	−2.821%	$24K	—	150x	as long as short
dYdX DOGE-USD	+0.0024%	1h	0.1024	−2.724%	$230K	$70K	10x	as long as short
Bitget DOGEUSDT	+0.0063%	8h	0.1023	−2.830%	$133.4M	$316.3M	75x	as long as short
Lighter DOGE	+0.0096%	1h	0.1024	−2.773%	$760K	$6.5M	15x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.1024	−2.740%	$556K	$1.1M	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.1023	−2.840%	$4.9M	$54.7M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.1025	−2.674%	$328K	$518K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.1023	−2.839%	$337.0M	$1.61B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.1023	−2.887%	$167.3M	$498.5M	75x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX DOGE-USDT-SWAPshort	+0.0100%	8h	0.1023	−2.840%	$116.4M	$1.15B	50x
Bulk DOGE-USD	+0.0100%	1h	0.1029	−2.232%	$395K	$16K	10x	as long as short
Gate DOGE_USDT	+0.0100%	8h	0.1023	−2.887%	$253.1M	$146.0M	75x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.1023	−2.811%	$115.3M	$245.1M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.1023	−2.802%	$67.3M	$48.2M	75x	as long as short
BingX DOGE-USDC	+0.0100%	8h	0.1023	−2.840%	—	$3.5M	—	as long as short
Backpack DOGE_USDC_PERP	+0.0100%	1h	0.1022	−2.915%	$341K	$1.2M	15x	as long as short
Variational Omni DOGE	+0.0100%	8h	0.1023	−2.861%	$1.1M	$8.4M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.1029	−2.291%	$330K	$136.0M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.1027	−2.469%	$649K	$4.5M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.1030	−2.184%	$155K	$330K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.1023	−2.811%	$258K	$983K	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.1023	−2.830%	$69K	$468K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.1023	−2.832%	$25K	$1K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.1024	−2.786%	$36K	$2.3M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.1023	−2.821%	$2K	$5.1M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.1023	−2.803%	$6.0M	$65.4M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.1023	−2.840%	$94.0M	$17.3M	50x	as long as short
Paradex DOGE-USD-PERP	+0.0100%	8h	0.1024	−2.708%	$18K	$7K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.1023	−2.861%	$494K	$4.1M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.1023	−2.816%	$20K	—	3x	as long as short
Katana Perps DOGE-USD	+0.0121%	8h	0.1025	−2.669%	$1K	$498K	10x	as long as short
Reya DOGERUSDPERP	+0.0192%	1h	0.1024	−2.801%	$2K	—	20x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.1024	−2.773%	$16.8M	$27.1M	75x	as long as short
Deribit DOGE_USDC-PERPETUAL	+0.0229%	1h	0.1024	−2.789%	$581K	$247K	25x	as long as short
Phoenix DOGE	+0.0235%	1h	0.1023	−2.819%	$19K	$292K	10x	as long as short
Kraken Futures PF_DOGEUSD	+0.0246%	1h	0.1023	−2.825%	$5.5M	$38.9M	50x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0256% / S −0.0309%	1h	0.1023	−2.821%	$331K	—	200x	as long as short
01 Exchange DOGEUSD	+0.0256%	1h	0.1026	−2.595%	$456	$4K	10x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0304%	1h	0.1024	−2.773%	$2.1M	$33.4M	50x	as long as short
Hyperliquid DOGE	+0.0498%	1h	0.1023	−2.802%	$127.7M	$110.6M	10x	as long as short
Arcus DOGE-USD	+0.0634%	1h	0.1026	−2.545%	$111K	$203K	10x	as long as short
RISEx DOGE/USDC	+0.0728%	1h	0.1026	−2.585%	$414K	$428K	10x	as long as short
Injective DOGE/USDC PERPlong	+0.1062%	1h	0.1053	long leg	$6K	$242K	12x