Funding you earn now, next payment 08:00 UTC+0.0019%/8h= +2.1% APRpaid last 24h −0.006%
Price spread now: Orderly against Phoenix−0.558%7-day average −0.053% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.128%+$13 on $10k
+Price spread, last 4 days (all we have)+0.444%+$44 · spread now −0.558%, 7d avg −0.053%
=Funding pays, the price is against you. Orderly is 0.506% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.558% now, against its 7-day average of −0.053%). If the spread goes back, that is −$51 on $10k: about 3 months of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.128% in total) that is about 28 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix DOGE | 0.09885 | 0.0081 | pay 0.0010% / 1h | 33m 14s | $18K | $386K | 10x |
| Short | Orderly PERP_DOGE_USDC | 0.09830 | 0.0100 | get 0.0100% / 8h | 7h 33m | $70K | $465K | 50x |
Phoenix DOGE
Orderly PERP_DOGE_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- Price spread: −0.558% → −0.053%
- −$50.58
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$59.57
- Costs to cover
- 0.130%
- Break-even
- 111.2 days
Slippage unknown: Phoenix: live order book, 60 min ago; Orderly: no order-book sample. 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 Phoenix live order book, 60 min ago | 1.01 bp | 12.3 bp −$12 | 50.8 bp −$508 | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.0097% | 1h | 0.09839 | −0.470% | $5.4M | $40.6M | 50x | as long as short |
| Bitget DOGEUSDT | −0.0014% | 8h | 0.09826 | −0.599% | $139.3M | $346.5M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.09832 | −0.538% | $538K | $6.6M | 2.8x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S 0.0000% | 1h | 0.09873 | −0.128% | $35K | — | 150x | as long as short |
| Injective DOGE/USDC PERP | +0.0033% | 1h | 0.1053 | +6.523% | $6K | $242K | 12x | as long as short |
| Gate DOGE_USDT | +0.0041% | 8h | 0.09825 | −0.609% | $248.4M | $153.9M | 75x | as long as short |
| Phoenix DOGElong | +0.0081% | 1h | 0.09885 | long leg | $18K | $386K | 10x | |
| Deribit DOGE_USDC-PERPETUAL | +0.0086% | 1h | 0.09839 | −0.468% | $558K | $294K | 25x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.09847 | −0.390% | $821K | $6.8M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0100% | 8h | 0.09821 | −0.649% | $1K | $547K | 10x | as long as short |
Kraken Futures PF_DOGEUSD
Bitget DOGEUSDT
Kalshi KXDOGEPERP
gTrade (Gains Network) DOGE/USD
Injective DOGE/USDC PERP
Gate DOGE_USDT
Deribit DOGE_USDC-PERPETUAL
Lighter DOGE
Katana Perps DOGE-USDShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado DOGE-PERP | +0.0100% | 1h | 0.09823 | −0.624% | $532K | $1.1M | 10x | as long as short |
| Hyperliquid DOGE | +0.0100% | 1h | 0.09836 | −0.497% | $122.7M | $116.8M | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.09831 | −0.548% | $4.9M | $58.8M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.09830 | −0.559% | $319K | $484K | 20x | as long as short |
| Binance DOGEUSDT | +0.0100% | 8h | 0.09830 | −0.558% | $325.4M | $1.71B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.09831 | −0.548% | $162.7M | $520.6M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.09833 | −0.528% | $114.0M | $1.18B | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.09827 | −0.589% | $16K | $306K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.09875 | −0.103% | $377K | $2K | 10x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.09829 | −0.569% | $116.3M | $259.2M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.09831 | −0.548% | $65.9M | $49.2M | 75x | as long as short |
| BingX DOGE-USDC | +0.0100% | 8h | 0.09825 | −0.609% | — | $3.5M | — | as long as short |
| Backpack DOGE_USDC_PERP | +0.0100% | 1h | 0.09861 | −0.245% | $300K | $1.3M | 15x | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.09876 | −0.094% | $1.1M | $8.5M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.09876 | −0.098% | $300K | $139.1M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.09875 | −0.103% | $621K | $4.4M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.09900 | +0.150% | $141K | $347K | 25x | as long as short |
| Polymarket Perps DOGE-USD | +0.0100% | 1h | 0.09831 | −0.553% | $256K | $1.2M | 10x | as long as short |
| Orderly PERP_DOGE_USDCshort | +0.0100% | 8h | 0.09830 | −0.558% | $70K | $465K | 50x | |
| Derive DOGE-PERP | +0.0100% | 1h | 0.09878 | −0.070% | $18K | $7K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.09841 | −0.450% | $34K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.09837 | −0.488% | $2K | $5.4M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.09836 | −0.500% | $5.8M | $69.0M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.09840 | −0.457% | $89.9M | $16.6M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.09821 | −0.648% | $18K | $5K | 30x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.09829 | −0.564% | $479K | $4.1M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.09833 | −0.532% | $19K | — | 3x | as long as short |
| Reya DOGERUSDPERP | +0.0202% | 1h | 0.09863 | −0.221% | $2K | — | 20x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0208% | 1h | 0.09839 | −0.467% | $1.9M | $34.6M | 50x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.09830 | −0.558% | $15.3M | $26.6M | 75x | as long as short |
| 01 Exchange DOGEUSD | +0.0224% | 1h | 0.09832 | −0.540% | $453 | $4K | 10x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0235% / S −0.0207% | 1h | 0.09826 | −0.602% | $295K | — | 200x | as long as short |
| dYdX DOGE-USD | +0.0617% | 1h | 0.09823 | −0.625% | $231K | $73K | 10x | as long as short |
| RISEx DOGE/USDC | +0.0717% | 1h | 0.09831 | −0.543% | $395K | $449K | 10x | as long as short |
Nado DOGE-PERP
Hyperliquid DOGE
Aster DOGEUSDT
Pacifica DOGE
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Arcus DOGE-USD
Bulk DOGE-USD
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
Derive DOGE-PERP
SunX DOGE-USDT
SoDEX DOGE-USD
HTX DOGE-USDT
Phemex DOGEUSDT
Paradex DOGE-USD-PERP
Extended DOGE-USD
Aevo DOGE-PERP
Reya DOGERUSDPERP
Coinbase International DOGE-PERP-INTX
BloFin DOGE-USDT
01 Exchange DOGEUSD
GMX DOGE/USD [ETH-USDC]
dYdX DOGE-USD
RISEx DOGE/USDC