Funding arb · Price arb /

DOGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: BingX against Lighter−0.104%7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$240.240% of the position

Long on Lighter Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.026%−$3 on $10k

Price spread, last 7 days+0.167%+$17 · spread now −0.104%, 7d avg −0.019%

Together, before fees+0.141%+ Points / potential airdropLighter: Season 3 · farm board+$14 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.085% cheaper against Lighter than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter DOGE	0.09918	0.0096	pay 0.0012% / 1h	18m 07s	$829K	$6.9M	15x
Short	BingX DOGE-USDT	0.09908	0.0100	get 0.0100% / 8h	18m 07s	—	$53.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Lighter. 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 LighterbpFee BingXbpOrdersPrice spread, now −0.104%Rate

Funding earned: $0.84
Price spread: −0.104% → −0.019%: −$8.49
Slippage, 4 orders: −$14.05
Fee Lighter: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$31.69
Costs to cover: 0.240%
Break-even: 271.1 days

Slippage from Lighter: live order book, 5 min ago; BingX: live order book, 11 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 Lighter live order book, 5 min ago	3.33 bp	4.9 bp −$5	9.7 bp −$97	26.0 bp −$2,600	doesn't fit
Sell BingX live order book, 11 min ago	1.01 bp	6.0 bp −$6	6.4 bp −$64	12.0 bp −$1,201	26.5 bp −$13.3K

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
Kraken Futures PF_DOGEUSD	−0.0060%	1h	0.09915	−0.030%	$5.6M	$40.9M	50x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.09918	−0.005%	$580K	$6.6M	2.8x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.09910	−0.082%	$35K	—	150x	as long as short
dYdX DOGE-USD	+0.0003%	1h	0.09915	−0.030%	$223K	$63K	10x	as long as short
Bitget DOGEUSDT	+0.0006%	8h	0.09904	−0.144%	$140.4M	$347.9M	75x	as long as short
Polymarket Perps DOGE-USD	+0.0026%	1h	0.09907	−0.118%	$257K	$1.2M	10x	as long as short
Injective DOGE/USDC PERP	+0.0033%	1h	0.1053	+6.167%	$6K	$242K	12x	as long as short
Lighter DOGElong	+0.0096%	1h	0.09918	long leg	$829K	$6.9M	15x
Nado DOGE-PERP	+0.0100%	1h	0.09905	−0.134%	$536K	$1.1M	10x	as long as short
Hyperliquid DOGE	+0.0100%	1h	0.09917	−0.014%	$123.5M	$117.3M	10x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster DOGEUSDT	+0.0100%	8h	0.09911	−0.069%	$4.5M	$59.7M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.09915	−0.029%	$322K	$509K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.09912	−0.066%	$327.6M	$1.73B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.09904	−0.144%	$163.8M	$526.3M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.09909	−0.094%	$115.2M	$1.20B	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.09912	−0.064%	$16K	$311K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.09918	+0.001%	$379K	$16K	10x	as long as short
Gate DOGE_USDT	+0.0100%	8h	0.09909	−0.094%	$249.1M	$158.3M	75x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.09911	−0.074%	$117.0M	$259.2M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.09913	−0.053%	$66.2M	$50.0M	75x	as long as short
BingX DOGE-USDTshort	+0.0100%	8h	0.09908	−0.104%	—	$53.3M	—
Backpack DOGE_USDC_PERP	+0.0100%	1h	0.09912	−0.064%	$302K	$1.3M	15x	as long as short
Variational Omni DOGE	+0.0100%	8h	0.09880	−0.388%	$1.0M	$8.7M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.09892	−0.264%	$300K	$139.8M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.09890	−0.285%	$626K	$4.5M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.09890	−0.285%	$141K	$345K	25x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.09912	−0.064%	$71K	$473K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.09911	−0.071%	$18K	$7K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.09919	+0.011%	$35K	$2.3M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.09913	−0.053%	$2K	$5.5M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.09909	−0.091%	$5.9M	$69.1M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.09910	−0.084%	$90.7M	$16.8M	50x	as long as short
Paradex DOGE-USD-PERP	+0.0100%	8h	0.09914	−0.039%	$18K	$5K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.09906	−0.119%	$485K	$4.1M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.09913	−0.056%	$19K	—	3x	as long as short
Katana Perps DOGE-USD	+0.0106%	8h	0.09911	−0.074%	$828	$542K	10x	as long as short
Deribit DOGE_USDC-PERPETUAL	+0.0154%	1h	0.09917	−0.014%	$570K	$258K	25x	as long as short
Phoenix DOGE	+0.0160%	1h	0.09902	−0.169%	$18K	$382K	10x	as long as short
Reya DOGERUSDPERP	+0.0200%	1h	0.09905	−0.131%	$2K	—	20x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0216%	1h	0.09911	−0.074%	$1.9M	$35.0M	50x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.09920	+0.017%	$15.5M	$26.9M	75x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0235% / S −0.0245%	1h	0.09909	−0.093%	$277K	—	200x	as long as short
01 Exchange DOGEUSD	+0.0240%	1h	0.09916	−0.020%	$441	$4K	10x	as long as short
RISEx DOGE/USDC	+0.0731%	1h	0.09918	−0.003%	$404K	$461K	10x	as long as short