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 +0.001%

Price spread now: Variational Omni against Lighter−0.225%7-day average −0.041% · you buy dearer than you sell

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

Long on Lighter Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.003%$0 on $10k

Price spread, last 7 days+0.258%+$26 · spread now −0.225%, 7d avg −0.041%

Together, before fees+0.261%+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm board+$26 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: Variational Omni is 0.184% cheaper against Lighter than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of −0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter DOGE	0.09873	0.0096	pay 0.0012% / 1h	56m 43s	$816K	$6.4M	15x
Short	Variational Omni DOGE	0.09851	0.0100	get 0.0100% / 8h	5h 56m	$1.3M	$7.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.225%Rate

Funding earned: $0.84
Price spread: −0.225% → −0.041%: −$18.37
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$17.53
Costs to cover: 0.000%
Break-even: 153.1 days

Slippage unknown: Lighter: live order book, 5 min ago; Variational Omni: RFQ quote, just now. 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 Lighter live order book, 5 min ago	2.89 bp	6.8 bp −$7	8.5 bp −$85	22.1 bp −$2,207	doesn't fit
Sell Variational Omni RFQ quote, just now	3.55 bp	doesn't fit	6.6 bp −$66	doesn't fit	doesn't fit

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	−0.0139%	1h	0.09863	−0.108%	$5.3M	$39.8M	50x	as long as short
Bitget DOGEUSDT	−0.0038%	8h	0.09851	−0.227%	$139.5M	$305.6M	75x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.09860	−0.138%	$529K	$6.3M	2.8x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.09859	−0.149%	$33K	—	150x	as long as short
Bybit DOGEUSDT	+0.0026%	8h	0.09853	−0.207%	$166.1M	$494.7M	75x	as long as short
Injective DOGE/USDC PERP	+0.0033%	1h	0.1053	+6.650%	$6K	$240K	12x	as long as short
Gate DOGE_USDT	+0.0036%	8h	0.09856	−0.176%	$253.7M	$143.6M	75x	as long as short
Deribit DOGE_USDC-PERPETUAL	+0.0044%	1h	0.09863	−0.105%	$552K	$293K	25x	as long as short
Lighter DOGElong	+0.0096%	1h	0.09873	long leg	$816K	$6.4M	15x
Katana Perps DOGE-USD	+0.0100%	8h	0.09858	−0.156%	$2K	$540K	10x	as long as short

Show all 43 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado DOGE-PERP	+0.0100%	1h	0.09856	−0.171%	$510K	$1.1M	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.09861	−0.123%	$4.9M	$57.2M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.09862	−0.112%	$315K	$457K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.09862	−0.117%	$325.6M	$1.60B	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.09857	−0.166%	$118.5M	$1.10B	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.09860	−0.136%	$17K	$306K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.09860	−0.136%	$376K	$2K	10x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.09857	−0.166%	$113.6M	$247.2M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.09865	−0.085%	$65.2M	$45.6M	75x	as long as short
BingX DOGE-USDC	+0.0100%	8h	0.09856	−0.176%	—	$3.5M	—	as long as short
Backpack DOGE_USDC_PERP	+0.0100%	1h	0.09860	−0.136%	$312K	$1.2M	15x	as long as short
Variational Omni DOGEshort	+0.0100%	8h	0.09851	−0.225%	$1.3M	$7.8M	—
edgeX DOGEUSDC	+0.0100%	4h	0.09857	−0.171%	$265K	$132.8M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.09868	−0.055%	$629K	$3.8M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.09870	−0.034%	$139K	$344K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.09853	−0.205%	$243K	$1.2M	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.09862	−0.115%	$68K	$414K	50x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.09868	−0.058%	$35K	$1.9M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.09861	−0.126%	$2K	$5.4M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.09864	−0.092%	$5.9M	$65.0M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.09862	−0.115%	$89.9M	$15.4M	50x	as long as short
Paradex DOGE-USD-PERP	+0.0100%	8h	0.09856	−0.175%	$18K	$5K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.09851	−0.229%	$482K	$3.7M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.09860	−0.140%	$19K	—	3x	as long as short
Hyperliquid DOGE	+0.0130%	1h	0.09874	+0.009%	$122.6M	$108.6M	10x	as long as short
01 Exchange DOGEUSD	+0.0160%	1h	0.09862	−0.120%	$454	$4K	10x	as long as short
Phoenix DOGE	+0.0161%	1h	0.09864	−0.093%	$18K	$311K	10x	as long as short
Reya DOGERUSDPERP	+0.0206%	1h	0.09853	−0.202%	$2K	—	20x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0211% / S −0.0184%	1h	0.09860	−0.141%	$286K	—	200x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.09861	−0.126%	$15.4M	$25.7M	75x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0264%	1h	0.09867	−0.065%	$2.2M	$33.1M	50x	as long as short
RISEx DOGE/USDC	+0.0587%	1h	0.09862	−0.120%	$409K	$412K	10x	as long as short
dYdX DOGE-USD	+0.0670%	1h	0.09861	−0.129%	$232K	$67K	10x	as long as short