Funding you earn now, next payment 06:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h −0.003%
Price spread now: OKX against Phoenix−0.360%76s7-day average −0.053% · you buy dearer than you sell
Net, funding: paid 7d − costs−$21as 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−$370.365% of the position
Funding, last 7 days+0.152%+$15 on $10k
+Price spread, last 4 days (all we have)+0.241%+$24 · spread now −0.360%, 7d avg −0.053%
=Funding pays, the price is against you. OKX is 0.307% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.360% now, against its 7-day average of −0.053%). If the spread goes back, that is −$31 on $10k: about 51 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.152% in total) that is about 14 days. The two prices were read 76 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 | Phoenix DOGE | 0.1002 | 0.0080 | pay 0.0010% / 1h | 0m 08s | $18K | $382K | 10x |
| Short | OKX DOGE-USDT-SWAP | 0.09987 | 0.0100 | get 0.0100% / 8h | 1h 00m | $117.4M | $1.21B | 50x |
Phoenix DOGE
OKX DOGE-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- $4.22
- Price spread: −0.360% → −0.053%
- −$30.67
- Slippage, 4 orders
- −$19.51
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$62.95
- Costs to cover
- 0.365%
- Break-even
- 111.3 days
Slippage from Phoenix: live order book, 38 min ago; OKX: 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, 38 min ago | 1.00 bp | 12.3 bp −$12 | 50.7 bp −$507 | doesn't fit | doesn't fit |
| Sell OKX live order book, 4 min ago | 0.50 bp | 5.5 bp −$6 | 7.7 bp −$77 | 14.3 bp −$1,431 | 31.6 bp −$15.8K |
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 | −0.0083% | 1h | 0.09993 | −0.301% | $5.6M | $40.6M | 50x | as long as short |
| dYdX DOGE-USD | 0.0000% | 1h | 0.09972 | −0.514% | $224K | $69K | 10x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.09984 | −0.392% | $612K | $6.6M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.09991 | −0.316% | $35K | — | 150x | as long as short |
| Injective DOGE/USDC PERP | +0.0033% | 1h | 0.1053 | +5.057% | $6K | $242K | 12x | as long as short |
| Bitget DOGEUSDT | +0.0036% | 8h | 0.09978 | −0.450% | $141.5M | $344.4M | 75x | as long as short |
| Polymarket Perps DOGE-USD | +0.0047% | 1h | 0.09985 | −0.380% | $263K | $1.2M | 10x | as long as short |
| Phoenix DOGElong | +0.0080% | 1h | 0.1002 | long leg | $18K | $382K | 10x | |
| Lighter DOGE | +0.0096% | 1h | 0.09999 | −0.241% | $847K | $6.8M | 15x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.09993 | −0.300% | $538K | $1.1M | 10x | as long as short |
Kraken Futures PF_DOGEUSD
dYdX DOGE-USD
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
Injective DOGE/USDC PERP
Bitget DOGEUSDT
Polymarket Perps DOGE-USD
Lighter DOGE
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 | 0.09990 | −0.333% | $4.6M | $58.8M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.09978 | −0.452% | $318K | $501K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.09990 | −0.333% | $329.8M | $1.72B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09983 | −0.400% | $164.4M | $522.2M | 75x | as long as short |
| OKX DOGE-USDT-SWAPshort | +0.0100% | 8h | 0.09987 | −0.360% | $117.4M | $1.21B | 50x | |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09979 | −0.438% | $383K | $16K | 10x | as long as short |
| Gate DOGE_USDT | +0.0100% | 8h | 0.09979 | −0.440% | $249.6M | $157.9M | 75x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09987 | −0.360% | $112.2M | $259.0M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09993 | −0.300% | $66.8M | $50.0M | 75x | as long as short |
| BingX DOGE-USDT | +0.0100% | 8h | 0.09982 | −0.410% | — | $53.4M | — | as long as short |
| Backpack DOGE_USDC_PERP | +0.0100% | 1h | 0.09989 | −0.340% | $302K | $1.3M | 15x | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.09969 | −0.542% | $1.1M | $8.7M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1001 | −0.166% | $304K | $140.2M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1000 | −0.201% | $631K | $4.6M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1002 | −0.031% | $146K | $341K | 25x | as long as short |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.09991 | −0.320% | $70K | $470K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1000 | −0.207% | $19K | $7K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09998 | −0.254% | $34K | $2.3M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.09993 | −0.300% | $2K | $5.4M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09992 | −0.313% | $5.9M | $69.1M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.09994 | −0.290% | $91.6M | $17.1M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.09988 | −0.354% | $18K | $5K | 30x | as long as short |
| Hyperliquid DOGE | +0.0104% | 1h | 0.09989 | −0.336% | $124.3M | $117.0M | 10x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09989 | −0.342% | $490K | $4.1M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.09992 | −0.310% | $19K | — | 3x | as long as short |
| Katana Perps DOGE-USD | +0.0107% | 8h | 0.09987 | −0.360% | $2K | $536K | 10x | as long as short |
| Reya DOGERUSDPERP | +0.0198% | 1h | 0.09990 | −0.328% | $2K | — | 20x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | +0.0200% | 1h | 0.09996 | −0.270% | $573K | $252K | 25x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.09979 | −0.440% | $16.2M | $27.1M | 75x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0240% | 1h | 0.09995 | −0.280% | $1.9M | $34.8M | 50x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0250% / S −0.0297% | 1h | 0.09992 | −0.310% | $315K | — | 200x | as long as short |
| 01 Exchange DOGEUSD | +0.0264% | 1h | 0.09997 | −0.258% | $445 | $4K | 10x | as long as short |
| Arcus DOGE-USD | +0.0387% | 1h | 0.09990 | −0.330% | $17K | $308K | 10x | as long as short |
| RISEx DOGE/USDC | +0.0626% | 1h | 0.09998 | −0.246% | $402K | $458K | 10x | as long as short |
Aster DOGEUSDT
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
Bulk DOGE-USD
Gate DOGE_USDT
MEXC DOGE_USDT
KuCoin DOGEUSDTM
BingX DOGE-USDT
Backpack DOGE_USDC_PERP
Variational Omni DOGE
edgeX DOGEUSDC
GRVT DOGE_USDT_Perp
ApeX Omni DOGEUSDT
Orderly PERP_DOGE_USDC
Derive DOGE-PERP
SunX DOGE-USDT
SoDEX DOGE-USD
HTX DOGE-USDT
Phemex DOGEUSDT
Paradex DOGE-USD-PERP
Hyperliquid DOGE
Extended DOGE-USD
Aevo DOGE-PERP
Katana Perps DOGE-USD
Reya DOGERUSDPERP
Deribit DOGE_USDC-PERPETUAL
BloFin DOGE-USDT
Coinbase International DOGE-PERP-INTX
GMX DOGE/USD [ETH-USDC]
01 Exchange DOGEUSD
Arcus DOGE-USD
RISEx DOGE/USDC