Funding arb · Price arb /

DOGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.002%

Price spread now: Lighter against Katana Perps+0.072%7-day average +0.064% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Katana Perps Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.027%+$3 on $10k

Price spread, last 4 days (all we have)+0.008%+$1 · spread now +0.072%, 7d avg +0.064%

Together, before fees+0.035%+ Points / potential airdropLighter: Season 3 · farm board+$4 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps DOGE-USD	0.09827	0.0100	pay 0.0100% / 8h	5h 46m	$941	$539K	10x
Short	Lighter DOGE	0.09834	0.0096	get 0.0012% / 1h	46m 48s	$818K	$6.4M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Katana Perps. 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 Katana PerpsbpFee LighterbpOrdersPrice spread, now +0.072%Rate

Funding earned: −$0.8
Price spread: +0.072% → +0.064%: $0.84
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$3.76
Costs to cover: 0.038%
Break-even: never at this rate

Slippage unknown: Katana Perps: no order-book sample; Lighter: live order book, 4 min ago. Net counts fees only.

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 Katana Perps no order-book sample	—	—	—	—	—
Sell Lighter live order book, 4 min ago	3.61 bp	4.3 bp −$4	12.6 bp −$126	31.3 bp −$3,132	doesn't fit

Katana Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

DOGE on 43 exchanges

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	−0.0140%	1h	0.09828	+0.013%	$5.3M	$39.5M	50x	as long as short
Bitget DOGEUSDT	−0.0041%	8h	0.09823	−0.041%	$139.0M	$295.6M	75x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.09837	+0.098%	$524K	$6.2M	2.8x	as long as short
Deribit DOGE_USDC-PERPETUAL	0.0000%	1h	0.09828	+0.011%	$550K	$292K	25x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.09826	−0.013%	$33K	—	150x	as long as short
Bybit DOGEUSDT	+0.0016%	8h	0.09827	0.000%	$165.7M	$491.4M	75x	as long as short
Injective DOGE/USDC PERP	+0.0033%	1h	0.1053	+7.154%	$6K	$240K	12x	as long as short
Gate DOGE_USDT	+0.0035%	8h	0.09830	+0.031%	$251.8M	$144.4M	75x	as long as short
Phoenix DOGE	+0.0081%	1h	0.09839	+0.125%	$18K	$311K	10x	as long as short
Lighter DOGEshort	+0.0096%	1h	0.09834	+0.072%	$818K	$6.4M	15x

Show all 43 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps DOGE-USDlong	+0.0100%	8h	0.09827	long leg	$941	$539K	10x
Nado DOGE-PERP	+0.0100%	1h	0.09831	+0.046%	$508K	$1.1M	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.09834	+0.071%	$4.9M	$57.1M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.09838	+0.112%	$313K	$436K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.09834	+0.072%	$325.5M	$1.59B	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.09833	+0.061%	$118.4M	$1.10B	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.09830	+0.031%	$16K	$308K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.09860	+0.336%	$376K	$2K	10x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.09835	+0.081%	$113.2M	$247.8M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.09835	+0.081%	$65.0M	$45.5M	75x	as long as short
BingX DOGE-USDC	+0.0100%	8h	0.09828	+0.010%	—	$3.5M	—	as long as short
Backpack DOGE_USDC_PERP	+0.0100%	1h	0.09830	+0.031%	$306K	$1.2M	15x	as long as short
Variational Omni DOGE	+0.0100%	8h	0.09820	−0.071%	$1.3M	$7.8M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.09825	−0.025%	$264K	$132.0M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.09835	+0.086%	$619K	$3.8M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.09830	+0.031%	$138K	$344K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.09823	−0.044%	$236K	$1.2M	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.09825	−0.020%	$68K	$413K	50x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.09828	+0.008%	$34K	$1.9M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.09828	+0.010%	$2K	$5.2M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.09833	+0.062%	$5.9M	$64.6M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.09828	+0.010%	$89.7M	$15.6M	50x	as long as short
Paradex DOGE-USD-PERP	+0.0100%	8h	0.09834	+0.073%	$18K	$5K	30x	as long as short
Hyperliquid DOGE	+0.0104%	1h	0.09839	+0.120%	$122.1M	$108.0M	10x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.09831	+0.038%	$483K	$3.6M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.09825	−0.024%	$19K	—	3x	as long as short
01 Exchange DOGEUSD	+0.0136%	1h	0.09824	−0.036%	$452	$4K	10x	as long as short
Reya DOGERUSDPERP	+0.0207%	1h	0.09821	−0.062%	$2K	—	20x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0211% / S −0.0184%	1h	0.09825	−0.024%	$285K	—	200x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.09825	−0.020%	$15.4M	$25.6M	75x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0264%	1h	0.09842	+0.153%	$2.2M	$32.8M	50x	as long as short
dYdX DOGE-USD	+0.0374%	1h	0.09831	+0.039%	$231K	$75K	10x	as long as short
RISEx DOGE/USDC	+0.0587%	1h	0.09831	+0.037%	$408K	$402K	10x	as long as short