Funding you earn now, next payment 21:00 UTC−0.0933%/8h= −102.2% APRnext payment −$1.17 per $10,000 · paid last 24h −0.221%
Price spread now: Phoenix against Injective−0.093%7-day average −0.163% · you buy dearer than you sell
Net, funding: paid 7d − costs−$257as in the Funding arb table
Net, price: spread back to 7d avg − costs−$78as in the Price arb table
costs, in and out, $10k−$850.849% of the position
Funding, last 7 days−1.717%−$172 on $10k
+Price spread, last 3 days (all we have)+0.200%+$20 · spread now −0.093%, 7d avg −0.163%
=The price spread pays, funding is against you. Phoenix is 0.070% dearer against Injective than usual: you sell high and buy low (spread −0.093% now, against its 7-day average of −0.163%): +$7 on $10k if it goes back. Holding the pair costs −$28 a day in funding at the current rate, which eats that in about 6 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective DOGE/USDC PERP | 0.09960 | 0.1013 | pay 0.0127% / 1h | 5m 56s | $5K | $180K | 12x |
| Short | Phoenix DOGE | 0.09951 | 0.0080 | get 0.0010% / 1h | 5m 56s | $15K | $225K | 10x |
Injective DOGE/USDC PERP
Phoenix DOGEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Injective. 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
- −$195.95
- Price spread: −0.093% → −0.163%
- $6.98
- Slippage, 4 orders
- −$77.87
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$273.86
- Costs to cover
- 0.849%
- Break-even
- never at this rate
Slippage from Injective: live order book, 18 min ago; Phoenix: live order book, 12 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 Injective live order book, 18 min ago | 30.12 bp | 30.1 bp −$30 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 12 min ago | 1.00 bp | 12.3 bp −$12 | 43.0 bp −$430 | 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 | −0.0279% | 8h | 0.09893 | −0.673% | $151.7M | $261.3M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.09905 | −0.553% | $367K | $4.4M | 2.8x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | 0.0000% | 1h | 0.09911 | −0.496% | $619K | $106K | 25x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S −0.0001% | 1h | 0.09904 | −0.563% | $32K | — | 150x | as long as short |
| Gate DOGE_USDT | +0.0076% | 8h | 0.09902 | −0.582% | $235.9M | $121.1M | 75x | as long as short |
| Phoenix DOGEshort | +0.0080% | 1h | 0.09951 | −0.093% | $15K | $225K | 10x | |
| dYdX DOGE-USD | +0.0088% | 1h | 0.09902 | −0.582% | $222K | $44K | 10x | as long as short |
| Katana Perps DOGE-USD | +0.0096% | 8h | 0.09908 | −0.522% | $839 | $345K | 10x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.09904 | −0.563% | $779K | $5.1M | 15x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.09906 | −0.542% | $628K | $698K | 10x | as long as short |
Bitget DOGEUSDT
Kalshi KXDOGEPERP
Deribit DOGE_USDC-PERPETUAL
gTrade (Gains Network) DOGE/USD
Gate DOGE_USDT
dYdX DOGE-USD
Katana Perps DOGE-USD
Lighter DOGE
Nado DOGE-PERPShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster DOGEUSDT | +0.0100% | 8h | 0.09900 | −0.602% | $4.9M | $40.7M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.09906 | −0.544% | $334K | $496K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.09907 | −0.528% | $313.8M | $1.27B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09905 | −0.552% | $158.4M | $399.1M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09910 | −0.502% | $108.4M | $892.6M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.09913 | −0.472% | $28K | $76K | 10x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09903 | −0.572% | $109.9M | $221.3M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09901 | −0.592% | $64.8M | $39.3M | 75x | as long as short |
| BingX DOGE-USDC | +0.0100% | 8h | 0.09909 | −0.512% | — | $3.4M | — | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.09944 | −0.158% | $932K | $7.8M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.09933 | −0.269% | $267K | $112.2M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.09924 | −0.357% | $629K | $4.6M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.09930 | −0.301% | $144K | $228K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.09905 | −0.556% | $270K | $529K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.09908 | −0.522% | $57K | $396K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.09907 | −0.533% | $24K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09905 | −0.556% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.09901 | −0.592% | $2K | $3.4M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09908 | −0.525% | $5.9M | $47.7M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.09902 | −0.582% | $91.8M | $19.0M | 50x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09947 | −0.130% | $381K | $14K | 10x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.09904 | −0.558% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09899 | −0.609% | $547K | $3.6M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.09906 | −0.547% | $19K | — | 3x | as long as short |
| 01 Exchange DOGEUSD | +0.0168% | 1h | 0.09911 | −0.496% | $523 | $4K | 10x | as long as short |
| Reya DOGERUSDPERP | +0.0175% | 1h | 0.09905 | −0.553% | $2K | — | 20x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.09919 | −0.412% | $15.2M | $23.8M | 75x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0224% | 1h | 0.09910 | −0.502% | $2.0M | $22.5M | 50x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0244% / S −0.0247% | 1h | 0.09904 | −0.561% | $316K | — | 200x | as long as short |
| Backpack DOGE_USDC_PERP | +0.0254% | 1h | 0.09904 | −0.562% | $523K | $931K | 15x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0289% | 1h | 0.09900 | −0.597% | $5.9M | $31.9M | 50x | as long as short |
| Hyperliquid DOGE | +0.0407% | 1h | 0.09908 | −0.525% | $109.0M | $79.8M | 10x | as long as short |
| RISEx DOGE/USDC | +0.0536% | 1h | 0.09914 | −0.459% | $311K | $472K | 10x | as long as short |
| Injective DOGE/USDC PERPlong | +0.1013% | 1h | 0.09960 | long leg | $5K | $180K | 12x |
Aster DOGEUSDT
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Arcus DOGE-USD
MEXC DOGE_USDT
KuCoin DOGEUSDTM
BingX DOGE-USDC
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
Phemex DOGEUSDT
Bulk DOGE-USD
Paradex DOGE-USD-PERP
Extended DOGE-USD
Aevo DOGE-PERP
01 Exchange DOGEUSD
Reya DOGERUSDPERP
BloFin DOGE-USDT
Coinbase International DOGE-PERP-INTX
GMX DOGE/USD [ETH-USDC]
Backpack DOGE_USDC_PERP
Kraken Futures PF_DOGEUSD
Hyperliquid DOGE
RISEx DOGE/USDC