Funding arb · Price arb /

DOGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: SoDEX against Kalshi−0.159%7-day average +0.035% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$330.328% of the position

Long on Kalshi Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.099%+$10 on $10k

Price spread, last 4 days (all we have)+0.071%+$7 · spread now −0.159%, 7d avg +0.035%

Together, before fees+0.170%+$17 on $10k · with fees, hour by hour

Funding pays, the price is against you. SoDEX is 0.194% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.159% now, against its 7-day average of +0.035%). If the spread goes back, that is −$19 on $10k: about 6.5 days 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	0.09939	0	get 0.0000% / 8h	2h 56m	$513K	$6.6M	2.8x
Short	SoDEX DOGE-USD	0.09923	0.0100	get 0.0013% / 1h	56m 18s	$2K	$5.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.159%Rate

Funding earned: $21
Price spread: −0.159% → +0.035%: −$19.38
Slippage, 4 orders: −$14.78
Fee Kalshi: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$31.15
Costs to cover: 0.328%
Break-even: 17.4 days

Slippage from Kalshi: live order book, 2 min ago; SoDEX: live order book, 3 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	12.2 bp −$12	18.4 bp −$184	doesn't fit	doesn't fit
Sell SoDEX live order book, 3 min ago	0.50 bp	4.5 bp −$5	7.9 bp −$79	144.1 bp −$14.4K	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_DOGEUSD	−0.0052%	1h	0.09923	−0.160%	$5.4M	$40.6M	50x	as long as short
Bitget DOGEUSDT	−0.0023%	8h	0.09916	−0.229%	$140.3M	$347.7M	75x	as long as short
Kalshi KXDOGEPERPlong	0.0000%	8h	0.09939	long leg	$513K	$6.6M	2.8x
Deribit DOGE_USDC-PERPETUAL	0.0000%	1h	0.09925	−0.143%	$556K	$299K	25x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.09967	+0.286%	$33K	—	150x	as long as short
Injective DOGE/USDC PERP	+0.0033%	1h	0.1053	+5.948%	$6K	$240K	12x	as long as short
Gate DOGE_USDT	+0.0035%	8h	0.09921	−0.179%	$252.4M	$145.7M	75x	as long as short
Phoenix DOGE	+0.0081%	1h	0.09952	+0.132%	$18K	$355K	10x	as long as short
Lighter DOGE	+0.0096%	1h	0.09931	−0.076%	$825K	$6.5M	15x	as long as short
Katana Perps DOGE-USD	+0.0100%	8h	0.09928	−0.109%	$829	$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	0.09927	−0.124%	$514K	$1.1M	10x	as long as short
Hyperliquid DOGE	+0.0100%	1h	0.09934	−0.046%	$124.0M	$113.6M	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.09922	−0.169%	$5.0M	$58.7M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.09935	−0.038%	$323K	$473K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.09920	−0.189%	$327.7M	$1.69B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.09917	−0.219%	$167.0M	$520.7M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.09920	−0.189%	$116.3M	$1.17B	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.09931	−0.078%	$17K	$307K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.09931	−0.074%	$379K	$2K	10x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.09927	−0.119%	$112.6M	$254.3M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.09925	−0.139%	$66.1M	$48.7M	75x	as long as short
BingX DOGE-USDC	+0.0100%	8h	0.09927	−0.119%	—	$3.5M	—	as long as short
Backpack DOGE_USDC_PERP	+0.0100%	1h	0.09949	+0.103%	$312K	$1.3M	15x	as long as short
Variational Omni DOGE	+0.0100%	8h	0.09958	+0.190%	$1.1M	$8.3M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.09948	+0.094%	$265K	$137.5M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.09969	+0.308%	$628K	$4.0M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.09970	+0.314%	$142K	$347K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.09925	−0.140%	$259K	$1.2M	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.09922	−0.169%	$71K	$451K	50x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.09928	−0.111%	$34K	$2.1M	30x	as long as short
SoDEX DOGE-USDshort	+0.0100%	1h	0.09923	−0.159%	$2K	$5.4M	10x
HTX DOGE-USDT	+0.0100%	8h	0.09929	−0.097%	$6.0M	$67.6M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.09925	−0.139%	$90.6M	$16.2M	50x	as long as short
Paradex DOGE-USD-PERP	+0.0100%	8h	0.09937	−0.015%	$18K	$5K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.09917	−0.223%	$483K	$4.0M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.09924	−0.154%	$19K	—	3x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0166% / S −0.0120%	1h	0.09922	−0.165%	$331K	—	200x	as long as short
01 Exchange DOGEUSD	+0.0184%	1h	0.09931	−0.075%	$457	$4K	10x	as long as short
Reya DOGERUSDPERP	+0.0204%	1h	0.09917	−0.214%	$2K	—	20x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.09944	+0.052%	$15.4M	$26.8M	75x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0240%	1h	0.09931	−0.078%	$2.2M	$35.3M	50x	as long as short
dYdX DOGE-USD	+0.0523%	1h	0.09927	−0.124%	$233K	$62K	10x	as long as short
RISEx DOGE/USDC	+0.0565%	1h	0.09934	−0.053%	$403K	$450K	10x	as long as short