Funding you earn now, next payment 21:00 UTC−0.0016%/8h= −1.8% APRnext payment −$0.02 per $10,000 · paid last 24h −0.021%
Price spread now: Phoenix against Lighter−0.074%104s7-day average −0.006% · you buy dearer than you sell
Net, funding: paid 7d − costs−$57as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$340.345% of the position
Funding, last 7 days−0.225%−$22 on $10k
+Price spread, last 3 days (all we have)+0.233%+$23 · spread now −0.074%, 7d avg −0.006%
=Together, before fees+0.008%+ Points / potential airdropLighter: Season 3 · farm board+$1 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Phoenix is 0.068% cheaper against Lighter than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.006%). Swap the legs. The two prices were read 104 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter DOGE | 0.09931 | 0.0096 | pay 0.0012% / 1h | 59m 37s | $757K | $5.3M | 15x |
| Short | Phoenix DOGE | 0.09924 | 0.0080 | get 0.0010% / 1h | 59m 37s | $15K | $225K | 10x |
Lighter DOGE
Phoenix DOGEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Lighter. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$3.4
- Price spread: −0.074% → −0.006%
- −$6.77
- Slippage, 4 orders
- −$27.49
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$44.66
- Costs to cover
- 0.345%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 3 min ago; Phoenix: live order book, 18 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, 3 min ago | 1.36 bp | 6.4 bp −$6 | 9.5 bp −$95 | 27.8 bp −$2,776 | doesn't fit |
| Sell Phoenix live order book, 18 min ago | 1.00 bp | 12.3 bp −$12 | 43.0 bp −$430 | 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 | −0.0275% | 8h | 0.09945 | +0.140% | $152.4M | $261.5M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.09929 | −0.023% | $361K | $4.4M | 2.8x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | 0.0000% | 1h | 0.09935 | +0.043% | $621K | $106K | 25x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S −0.0001% | 1h | 0.09931 | +0.004% | $32K | — | 150x | as long as short |
| 01 Exchange DOGEUSD | +0.0008% | 1h | 0.09959 | +0.284% | $526 | $4K | 10x | as long as short |
| Phoenix DOGEshort | +0.0080% | 1h | 0.09924 | −0.074% | $15K | $225K | 10x | |
| Gate DOGE_USDT | +0.0082% | 8h | 0.09944 | +0.130% | $237.5M | $119.8M | 75x | as long as short |
| Katana Perps DOGE-USD | +0.0096% | 8h | 0.09953 | +0.221% | $843 | $348K | 10x | as long as short |
| Lighter DOGElong | +0.0096% | 1h | 0.09931 | long leg | $757K | $5.3M | 15x | |
| Nado DOGE-PERP | +0.0100% | 1h | 0.09925 | −0.056% | $618K | $704K | 10x | as long as short |
Bitget DOGEUSDT
Kalshi KXDOGEPERP
Deribit DOGE_USDC-PERPETUAL
gTrade (Gains Network) DOGE/USD
01 Exchange DOGEUSD
Gate DOGE_USDT
Katana Perps DOGE-USD
Nado DOGE-PERPShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster DOGEUSDT | +0.0100% | 8h | 0.09934 | +0.025% | $4.9M | $40.8M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.09933 | +0.021% | $333K | $498K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.09967 | +0.360% | $315.4M | $1.27B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09964 | +0.331% | $159.3M | $399.5M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09942 | +0.110% | $108.7M | $896.0M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.09962 | +0.311% | $28K | $76K | 10x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09933 | +0.019% | $110.2M | $212.7M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09932 | +0.009% | $65.2M | $39.4M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.09948 | +0.170% | — | $73.6M | — | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.09932 | +0.011% | $939K | $7.8M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.09938 | +0.074% | $265K | $112.4M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.09939 | +0.081% | $631K | $4.6M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.09940 | +0.090% | $144K | $232K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.09926 | −0.047% | $271K | $529K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.09933 | +0.019% | $57K | $396K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.09932 | +0.011% | $24K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09938 | +0.065% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.09932 | +0.009% | $2K | $3.4M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09932 | +0.005% | $6.0M | $47.9M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.09935 | +0.039% | $92.1M | $19.0M | 50x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09939 | +0.081% | $381K | $14K | 10x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.09940 | +0.090% | $18K | $5K | 30x | as long as short |
| dYdX DOGE-USD | +0.0102% | 1h | 0.09925 | −0.066% | $223K | $44K | 10x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09948 | +0.172% | $548K | $3.6M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.09935 | +0.034% | $19K | — | 3x | as long as short |
| Reya DOGERUSDPERP | +0.0175% | 1h | 0.09930 | −0.007% | $2K | — | 20x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.09938 | +0.069% | $15.1M | $23.9M | 75x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0224% | 1h | 0.09935 | +0.039% | $2.0M | $22.6M | 50x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0244% / S −0.0247% | 1h | 0.09931 | −0.006% | $317K | — | 200x | as long as short |
| Backpack DOGE_USDC_PERP | +0.0256% | 1h | 0.09945 | +0.140% | $525K | $932K | 15x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0288% | 1h | 0.09932 | +0.011% | $5.9M | $31.9M | 50x | as long as short |
| RISEx DOGE/USDC | +0.0702% | 1h | 0.09962 | +0.311% | $312K | $474K | 10x | as long as short |
| Hyperliquid DOGE | +0.0790% | 1h | 0.09932 | +0.012% | $109.2M | $80.0M | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1013% | 1h | 0.09960 | +0.291% | $5K | $180K | 12x | as long as short |
Aster DOGEUSDT
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Arcus DOGE-USD
MEXC DOGE_USDT
KuCoin DOGEUSDTM
BingX DOGE-USDT
Variational Omni DOGE
edgeX DOGEUSDC
GRVT DOGE_USDT_Perp
ApeX Omni DOGEUSDT
Polymarket Perps DOGE-USD
Orderly PERP_DOGE_USDC
Derive DOGE-PERP
SunX DOGE-USDT
SoDEX DOGE-USD
HTX DOGE-USDT
Phemex DOGEUSDT
Bulk DOGE-USD
Paradex DOGE-USD-PERP
dYdX DOGE-USD
Extended DOGE-USD
Aevo DOGE-PERP
Reya DOGERUSDPERP
BloFin DOGE-USDT
Coinbase International DOGE-PERP-INTX
GMX DOGE/USD [ETH-USDC]
Backpack DOGE_USDC_PERP
Kraken Futures PF_DOGEUSD
RISEx DOGE/USDC
Hyperliquid DOGE
Injective DOGE/USDC PERP