Funding arb · Price arb /

DOGE

all DOGE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: Bulk against Kalshi+0.018%7-day average +0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$370.375% of the position

Long on Kalshi Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.098%+$10 on $10k

Price spread, last 4 days (all we have)−0.429%−$43 · spread now +0.018%, 7d avg +0.048%

Together, before fees−0.331%−$33 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bulk is 0.030% cheaper against Kalshi than usual: you would sell low and buy high (spread +0.018% now, against its 7-day average of +0.048%). If the spread goes back, that is −$3 on $10k: about 24 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXDOGEPERP	0.1005	0	get 0.0000% / 8h	7h 32m	$351K	$4.1M	2.8x
Short	Bulk DOGE-USD	0.1005	0.0100	get 0.0013% / 1h	32m 34s	$385K	$19K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Kalshi. 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 KalshibpFee BulkbpOrdersPrice spread, now +0.018%Rate

Funding earned: $21
Price spread: +0.018% → +0.048%: −$3.05
Slippage, 4 orders: −$20.49
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$19.53
Costs to cover: 0.375%
Break-even: 13.5 days

Slippage from Kalshi: live order book, 2 min ago; Bulk: live order book, 17 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 Kalshi live order book, 2 min ago	5.14 bp	10.1 bp −$10	16.5 bp −$165	doesn't fit	doesn't fit
Sell Bulk live order book, 17 min ago	5.06 bp	8.6 bp −$9	8.6 bp −$86	12.4 bp −$1,236	22.6 bp −$11.3K

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	−0.0261%	8h	0.1002	−0.215%	$154.6M	$255.6M	75x	as long as short
Kraken Futures PF_DOGEUSD	−0.0035%	1h	0.1002	−0.273%	$5.9M	$28.5M	50x	as long as short
Kalshi KXDOGEPERPlong	0.0000%	8h	0.1005	long leg	$351K	$4.1M	2.8x
gTrade (Gains Network) DOGE/USD	L +0.0001% / S −0.0001%	1h	0.1002	−0.209%	$33K	—	150x	as long as short
Deribit DOGE_USDC-PERPETUAL	+0.0020%	1h	0.1002	−0.244%	$626K	$88K	25x	as long as short
dYdX DOGE-USD	+0.0029%	1h	0.1005	+0.011%	$226K	$44K	10x	as long as short
Gate DOGE_USDT	+0.0081%	8h	0.1003	−0.155%	$236.2M	$117.9M	75x	as long as short
Phoenix DOGE	+0.0081%	1h	0.1009	+0.474%	$18K	$207K	10x	as long as short
Katana Perps DOGE-USD	+0.0093%	8h	0.1003	−0.125%	$858	$318K	10x	as long as short
Lighter DOGE	+0.0096%	1h	0.1005	+0.032%	$808K	$4.9M	15x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado DOGE-PERP	+0.0100%	1h	0.1001	−0.315%	$712K	$657K	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.1006	+0.117%	$4.7M	$39.1M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.1005	+0.050%	$359K	$504K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.1003	−0.189%	$320.7M	$1.23B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.1003	−0.185%	$157.8M	$389.0M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.1004	−0.066%	$109.4M	$885.8M	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.1004	−0.096%	$28K	$75K	10x	as long as short
Bulk DOGE-USDshort	+0.0100%	1h	0.1005	+0.018%	$385K	$19K	10x
MEXC DOGE_USDT	+0.0100%	8h	0.1004	−0.056%	$148.1M	$197.2M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.1004	−0.056%	$66.4M	$37.8M	75x	as long as short
BingX DOGE-USDC	+0.0100%	8h	0.1004	−0.036%	—	$3.4M	—	as long as short
Variational Omni DOGE	+0.0100%	8h	0.1010	+0.528%	$997K	$7.3M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.1006	+0.107%	$268K	$106.0M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.1007	+0.278%	$638K	$4.6M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.1009	+0.442%	$145K	$216K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.1002	−0.305%	$282K	$561K	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.1002	−0.285%	$61K	$326K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.1002	−0.284%	$25K	$1K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.1003	−0.164%	$35K	$2.1M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.1002	−0.275%	$2K	$3.1M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.1002	−0.240%	$6.0M	$44.5M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.1003	−0.125%	$93.3M	$19.1M	50x	as long as short
Paradex DOGE-USD-PERP	+0.0100%	8h	0.1004	−0.067%	$19K	$3K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.1003	−0.134%	$561K	$3.4M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.1002	−0.241%	$19K	—	3x	as long as short
Reya DOGERUSDPERP	+0.0171%	1h	0.1002	−0.295%	$2K	—	20x	as long as short
01 Exchange DOGEUSD	+0.0184%	1h	0.1004	−0.089%	$530	$4K	10x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.1001	−0.344%	$15.1M	$22.3M	75x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0224%	1h	0.1003	−0.195%	$2.0M	$21.6M	50x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0239% / S −0.0248%	1h	0.1002	−0.218%	$298K	—	200x	as long as short
Backpack DOGE_USDC_PERP	+0.0376%	1h	0.1005	+0.034%	$530K	$809K	15x	as long as short
RISEx DOGE/USDC	+0.0530%	1h	0.1004	−0.092%	$316K	$488K	10x	as long as short
Injective DOGE/USDC PERP	+0.0892%	1h	0.1012	+0.741%	$5K	$127K	12x	as long as short
Hyperliquid DOGE	+0.1188%	1h	0.1008	+0.392%	$122.3M	$67.3M	10x	as long as short