Funding arb · Price arb /

DOGE

all DOGE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0052%/8h= −5.7% APRpaid last 24h +0.048%

Price spread now: Kraken Futures against Kalshi−0.371%7-day average +0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$440.441% of the position

Long on Kalshi Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.226%+$23 on $10k

Price spread, last 4 days (all we have)+0.263%+$26 · spread now −0.371%, 7d avg +0.049%

Together, before fees+0.490%+$49 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Kraken Futures is 0.420% cheaper against Kalshi than usual: you would sell low and buy high (−$42 if the spread goes back to its 7-day average of +0.049%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.226%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXDOGEPERP	0.09901	0	get 0.0000% / 8h	2h 55m	$510K	$6.6M	2.8x
Short	Kraken Futures PF_DOGEUSD	0.09864	−0.0052	pay 0.0007% / 1h	55m 04s	$5.3M	$40.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.371%Rate

Funding earned: −$10.98
Price spread: −0.371% → +0.049%: −$42
Slippage, 4 orders: −$24.14
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$97.13
Costs to cover: 0.441%
Break-even: never at this rate

Slippage from Kalshi: live order book, 4 min ago; Kraken Futures: live order book, 4 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, 4 min ago	6.49 bp	12.2 bp −$12	18.4 bp −$184	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 4 min ago	1.01 bp	9.5 bp −$10	13.1 bp −$131	32.9 bp −$3,293	doesn't fit

DOGE on 43 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	−0.0052%	1h	0.09864	−0.371%	$5.3M	$40.6M	50x
Bitget DOGEUSDT	−0.0024%	8h	0.09848	−0.536%	$139.4M	$347.9M	75x	as long as short
Kalshi KXDOGEPERPlong	0.0000%	8h	0.09901	long leg	$510K	$6.6M	2.8x
Deribit DOGE_USDC-PERPETUAL	0.0000%	1h	0.09871	−0.304%	$553K	$299K	25x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.09967	+0.668%	$33K	—	150x	as long as short
Gate DOGE_USDT	+0.0016%	8h	0.09852	−0.496%	$249.4M	$146.1M	75x	as long as short
Injective DOGE/USDC PERP	+0.0033%	1h	0.1053	+6.352%	$6K	$240K	12x	as long as short
Phoenix DOGE	+0.0081%	1h	0.09952	+0.513%	$18K	$355K	10x	as long as short
Lighter DOGE	+0.0096%	1h	0.09873	−0.286%	$820K	$6.5M	15x	as long as short
Katana Perps DOGE-USD	+0.0100%	8h	0.09862	−0.395%	$2K	$545K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado DOGE-PERP	+0.0100%	1h	0.09857	−0.445%	$511K	$1.1M	10x	as long as short
Hyperliquid DOGE	+0.0100%	1h	0.09864	−0.374%	$123.1M	$113.7M	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.09852	−0.496%	$5.0M	$58.7M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.09884	−0.177%	$321K	$473K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.09858	−0.435%	$325.6M	$1.69B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.09850	−0.516%	$165.7M	$521.4M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.09851	−0.506%	$115.2M	$1.16B	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.09869	−0.324%	$17K	$307K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.09931	+0.306%	$379K	$2K	10x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.09852	−0.496%	$110.0M	$254.7M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.09858	−0.435%	$65.8M	$48.6M	75x	as long as short
BingX DOGE-USDC	+0.0100%	8h	0.09852	−0.496%	—	$3.5M	—	as long as short
Backpack DOGE_USDC_PERP	+0.0100%	1h	0.09853	−0.486%	$309K	$1.3M	15x	as long as short
Variational Omni DOGE	+0.0100%	8h	0.09917	+0.156%	$1.1M	$8.2M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.09931	+0.303%	$263K	$137.6M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.09938	+0.373%	$626K	$4.0M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.09940	+0.393%	$142K	$346K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.09864	−0.370%	$253K	$1.2M	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.09869	−0.324%	$71K	$451K	50x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.09864	−0.377%	$34K	$2.1M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.09864	−0.375%	$2K	$5.4M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.09867	−0.348%	$6.0M	$67.7M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.09866	−0.355%	$90.1M	$16.2M	50x	as long as short
Paradex DOGE-USD-PERP	+0.0100%	8h	0.09875	−0.268%	$18K	$5K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.09847	−0.546%	$478K	$4.0M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.09869	−0.323%	$19K	—	3x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0166% / S −0.0120%	1h	0.09864	−0.377%	$329K	—	200x	as long as short
01 Exchange DOGEUSD	+0.0184%	1h	0.09871	−0.304%	$454	$4K	10x	as long as short
Reya DOGERUSDPERP	+0.0204%	1h	0.09864	−0.372%	$2K	—	20x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.09865	−0.365%	$15.3M	$26.7M	75x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0240%	1h	0.09870	−0.314%	$2.2M	$35.1M	50x	as long as short
dYdX DOGE-USD	+0.0393%	1h	0.09877	−0.238%	$232K	$62K	10x	as long as short
RISEx DOGE/USDC	+0.0565%	1h	0.09872	−0.294%	$401K	$450K	10x	as long as short