Funding arb · Price arb /

DOGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0973%/8h= +106.6% APRpaid last 24h +0.231%

Price spread now: Injective against Kalshi+1.074%7-day average +0.231% · you sell dearer than you buy

Net, funding: paid 7d − costs+$86as in the Funding arb table

Net, price: spread back to 7d avg − costs+$2as in the Price arb table

costs, in and out, $10k−$830.826% of the position

Long on Kalshi Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+1.689%+$169 on $10k

Price spread, last 3 days (all we have)−1.028%−$103 · spread now +1.074%, 7d avg +0.231%

Together, before fees+0.661%+$66 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$29 a day on $10k at the current rate, and Injective is 0.844% dearer against Kalshi than usual: you sell high and buy low: +$84 more if the spread goes back to its 7-day average of +0.231%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXDOGEPERP	0.09933	0	get 0.0000% / 8h	3h 01m	$409K	$4.9M	2.8x
Short	Injective DOGE/USDC PERP	0.1004	0.0973	get 0.0122% / 1h	1m 16s	$5K	$239K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +1.074%Rate

Funding earned: $204.39
Price spread: +1.074% → +0.231%: $84.36
Slippage, 4 orders: −$72.55
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $206.18
Costs to cover: 0.826%
Break-even: from the start

Slippage from Kalshi: live order book, 2 min ago; Injective: live order book, 8 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	6.49 bp	11.5 bp −$11	19.2 bp −$192	doesn't fit	doesn't fit
Sell Injective live order book, 8 min ago	29.73 bp	29.7 bp −$30	doesn't fit	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	−0.0159%	8h	0.09912	−0.214%	$150.5M	$271.9M	75x	as long as short
Kraken Futures PF_DOGEUSD	−0.0078%	1h	0.09926	−0.071%	$5.8M	$34.1M	50x	as long as short
Kalshi KXDOGEPERPlong	0.0000%	8h	0.09933	long leg	$409K	$4.9M	2.8x
Deribit DOGE_USDC-PERPETUAL	0.0000%	1h	0.09920	−0.131%	$597K	$119K	25x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.09923	−0.105%	$23K	—	150x	as long as short
dYdX DOGE-USD	+0.0010%	1h	0.09952	+0.188%	$223K	$44K	10x	as long as short
Lighter DOGE	+0.0096%	1h	0.09944	+0.110%	$772K	$5.9M	15x	as long as short
Katana Perps DOGE-USD	+0.0100%	8h	0.09945	+0.118%	$1K	$426K	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.09932	−0.014%	$5.2M	$47.3M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.09956	+0.233%	$332K	$512K	20x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance DOGEUSDT	+0.0100%	8h	0.09936	+0.028%	$316.4M	$1.41B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.09938	+0.047%	$158.5M	$440.1M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.09940	+0.067%	$108.9M	$963.1M	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.09952	+0.188%	$76K	$124K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.1009	+1.610%	$387K	$5K	10x	as long as short
Gate DOGE_USDT	+0.0100%	8h	0.09930	−0.033%	$241.4M	$132.5M	75x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.09931	−0.023%	$109.5M	$227.3M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.09929	−0.043%	$65.2M	$42.6M	75x	as long as short
BingX DOGE-USDT	+0.0100%	8h	0.09926	−0.073%	—	$76.3M	—	as long as short
Backpack DOGE_USDC_PERP	+0.0100%	1h	0.09955	+0.218%	$359K	$1.1M	15x	as long as short
Variational Omni DOGE	+0.0100%	8h	0.09930	−0.036%	$981K	$8.1M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.1002	+0.848%	$271K	$125.4M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.1006	+1.326%	$639K	$4.5M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.1000	+0.671%	$146K	$269K	25x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.09940	+0.072%	$510K	$971K	10x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.09934	+0.011%	$259K	$633K	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.09925	−0.084%	$74K	$429K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.09920	−0.130%	$24K	$1K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.09923	−0.100%	$35K	$2.2M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.09928	−0.053%	$2K	$3.8M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.09921	−0.119%	$5.9M	$53.2M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.09934	+0.007%	$91.7M	$17.9M	50x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.09917	−0.160%	$526K	$3.9M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.09919	−0.143%	$19K	—	3x	as long as short
Paradex DOGE-USD-PERP	+0.0105%	8h	0.09944	+0.107%	$18K	$6K	30x	as long as short
01 Exchange DOGEUSD	+0.0168%	1h	0.09944	+0.109%	$525	$4K	10x	as long as short
Reya DOGERUSDPERP	+0.0183%	1h	0.09937	+0.040%	$2K	—	20x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.09919	−0.144%	$15.4M	$25.4M	75x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0240%	1h	0.09937	+0.037%	$2.0M	$25.0M	50x	as long as short
Phoenix DOGE	+0.0240%	1h	0.1001	+0.773%	$65K	$283K	10x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0246% / S −0.0270%	1h	0.09928	−0.050%	$312K	—	200x	as long as short
RISEx DOGE/USDC	+0.0701%	1h	0.09950	+0.169%	$321K	$404K	10x	as long as short
Hyperliquid DOGE	+0.0739%	1h	0.09953	+0.200%	$120.4M	$96.7M	10x	as long as short
Injective DOGE/USDC PERPshort	+0.0973%	1h	0.1004	+1.074%	$5K	$239K	12x