Funding you earn now, next payment 00:00 UTC−0.0144%/8h= −15.8% APRnext payment −$0.18 per $10,000 · paid last 24h +0.014%
Price spread now: Lighter against Phoenix−0.110%7-day average +0.007% · you buy dearer than you sell
Net, funding: paid 7d − costs−$16as in the Funding arb table
Net, price: spread back to 7d avg − costs−$50as in the Price arb table
costs, in and out, $10k−$380.381% of the position
Funding, last 7 days+0.218%+$22 on $10k
+Price spread, last 3 days (all we have)+0.025%+$3 · spread now −0.110%, 7d avg +0.007%
=Together, before fees+0.243%+ Points / potential airdropLighter: Season 3 · farm board+$24 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Lighter is 0.116% cheaper against Phoenix than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.007%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.218%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix DOGE | 0.1010 | 0.0240 | pay 0.0030% / 1h | 29m 09s | $67K | $283K | 10x |
| Short | Lighter DOGE | 0.1009 | 0.0096 | get 0.0012% / 1h | 29m 09s | $789K | $5.8M | 15x |
Phoenix DOGE
Lighter DOGEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Phoenix. 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
- −$30.29
- Price spread: −0.110% → +0.007%
- −$11.65
- Slippage, 4 orders
- −$31.14
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$80.08
- Costs to cover
- 0.381%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 39 min ago; Lighter: live order book, 4 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 Phoenix live order book, 39 min ago | 1.01 bp | 12.3 bp −$12 | 50.7 bp −$507 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 4 min ago | 0.94 bp | 4.5 bp −$4 | 10.3 bp −$103 | 32.9 bp −$3,286 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Phemex DOGEUSDT | −0.0287% | 8h | 0.1008 | −0.175% | $93.1M | $17.8M | 50x | as long as short |
| Bitget DOGEUSDT | −0.0184% | 8h | 0.1008 | −0.235% | $153.4M | $270.9M | 75x | as long as short |
| Kraken Futures PF_DOGEUSD | −0.0077% | 1h | 0.1008 | −0.197% | $6.1M | $33.9M | 50x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.1009 | −0.152% | $408K | $4.8M | 2.8x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | 0.0000% | 1h | 0.1009 | −0.132% | $607K | $121K | 25x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.1008 | −0.181% | $24K | — | 150x | as long as short |
| dYdX DOGE-USD | +0.0019% | 1h | 0.1008 | −0.196% | $226K | $44K | 10x | as long as short |
| Lighter DOGEshort | +0.0096% | 1h | 0.1009 | −0.110% | $789K | $5.8M | 15x | |
| Katana Perps DOGE-USD | +0.0100% | 8h | 0.1008 | −0.175% | $842 | $410K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1009 | −0.141% | $517K | $971K | 10x | as long as short |
Phemex DOGEUSDT
Bitget DOGEUSDT
Kraken Futures PF_DOGEUSD
Kalshi KXDOGEPERP
Deribit DOGE_USDC-PERPETUAL
gTrade (Gains Network) DOGE/USD
dYdX DOGE-USD
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 | 0.1009 | −0.132% | $5.0M | $46.4M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.1009 | −0.076% | $336K | $516K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.1008 | −0.168% | $320.6M | $1.40B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.1008 | −0.185% | $160.0M | $437.8M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1008 | −0.165% | $110.8M | $972.0M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.1010 | −0.037% | $28K | $82K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.1005 | −0.496% | $385K | $9K | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.1008 | −0.195% | $245.0M | $129.2M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1009 | −0.155% | $113.9M | $224.5M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1009 | −0.155% | $66.1M | $42.6M | 75x | as long as short |
| BingX DOGE-USDC | +0.0100% | 8h | 0.1008 | −0.185% | — | $3.4M | — | as long as short |
| Backpack DOGE_USDC_PERP | +0.0100% | 1h | 0.1009 | −0.155% | $365K | $1.1M | 15x | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.1010 | −0.008% | $1.0M | $8.1M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1011 | +0.079% | $266K | $123.6M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1011 | +0.062% | $634K | $4.5M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1006 | −0.413% | $148K | $267K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.1008 | −0.195% | $273K | $599K | 10x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.1008 | −0.165% | $73K | $424K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1009 | −0.165% | $25K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1009 | −0.121% | $35K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1008 | −0.185% | $2K | $3.8M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1008 | −0.189% | $6.0M | $52.7M | 75x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.1009 | −0.159% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1008 | −0.187% | $532K | $3.9M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1008 | −0.170% | $19K | — | 3x | as long as short |
| Reya DOGERUSDPERP | +0.0181% | 1h | 0.1008 | −0.172% | $2K | — | 20x | as long as short |
| 01 Exchange DOGEUSD | +0.0192% | 1h | 0.1010 | −0.032% | $533 | $4K | 10x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.1008 | −0.205% | $15.4M | $25.7M | 75x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0240% | 1h | 0.1009 | −0.106% | $2.0M | $25.0M | 50x | as long as short |
| Phoenix DOGElong | +0.0240% | 1h | 0.1010 | long leg | $67K | $283K | 10x | |
| GMX DOGE/USD [ETH-USDC] | L +0.0245% / S −0.0263% | 1h | 0.1008 | −0.174% | $311K | — | 200x | as long as short |
| RISEx DOGE/USDC | +0.0701% | 1h | 0.1010 | −0.056% | $324K | $479K | 10x | as long as short |
| Hyperliquid DOGE | +0.0843% | 1h | 0.1010 | −0.037% | $123.0M | $94.5M | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.0973% | 1h | 0.1014 | +0.379% | $5K | $239K | 12x | as long as short |
Aster DOGEUSDT
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Arcus DOGE-USD
Bulk DOGE-USD
Gate DOGE_USDT
MEXC DOGE_USDT
KuCoin DOGEUSDTM
BingX DOGE-USDC
Backpack DOGE_USDC_PERP
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
Paradex DOGE-USD-PERP
Extended DOGE-USD
Aevo DOGE-PERP
Reya DOGERUSDPERP
01 Exchange DOGEUSD
BloFin DOGE-USDT
Coinbase International DOGE-PERP-INTX
GMX DOGE/USD [ETH-USDC]
RISEx DOGE/USDC
Hyperliquid DOGE
Injective DOGE/USDC PERP