Funding you earn now, next payment 00:00 UTC+0.0342%/8h= +37.5% APRnext payment +$0.43 per $10,000 · paid last 24h +0.025%
Price spread now: Backpack against Polymarket Perps+0.119%7-day average +0.003% · you sell dearer than you buy
Net, funding: paid 7d − costs+$9as in the Funding arb table
Net, price: spread back to 7d avg − costs−$17as in the Price arb table
costs, in and out, $10k−$290.289% of the position
Funding, last 7 days+0.383%+$38 on $10k
+Price spread, last 3 days (all we have)−0.275%−$27 · spread now +0.119%, 7d avg +0.003%
=Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Backpack is 0.116% dearer against Polymarket Perps than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.003%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Polymarket Perps DOGE-USD | 0.1011 | 0.0100 | pay 0.0013% / 1h | 48m 28s | $262K | $554K | 10x |
| Short | Backpack DOGE_USDC_PERP | 0.1012 | 0.0442 | get 0.0055% / 1h | 48m 28s | $541K | $961K | 15x |
Polymarket Perps DOGE-USD
Backpack DOGE_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Polymarket Perps. 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
- $71.91
- Price spread: +0.119% → +0.003%
- $11.6
- Slippage, 4 orders
- −$10.85
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $54.66
- Costs to cover
- 0.289%
- Break-even
- 1.7 days
Slippage from Polymarket Perps: live order book, 29 min ago; Backpack: live order book, 30 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 Polymarket Perps live order book, 29 min ago | 3.49 bp | 9.4 bp −$9 | 9.9 bp −$99 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 30 min ago | 0.50 bp | 5.9 bp −$6 | 12.4 bp −$124 | 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 | −0.0246% | 8h | 0.1010 | −0.079% | $154.2M | $267.8M | 75x | as long as short |
| Kalshi KXDOGEPERP | 0.0000% | 8h | 0.1012 | +0.112% | $421K | $4.7M | 2.8x | as long as short |
| Deribit DOGE_USDC-PERPETUAL | 0.0000% | 1h | 0.1011 | 0.000% | $608K | $109K | 25x | as long as short |
| gTrade (Gains Network) DOGE/USD | L +0.0001% / S −0.0001% | 1h | 0.1012 | +0.086% | $33K | — | 150x | as long as short |
| Gate DOGE_USDT | +0.0083% | 8h | 0.1011 | +0.010% | $244.1M | $125.5M | 75x | as long as short |
| Lighter DOGE | +0.0096% | 1h | 0.1012 | +0.124% | $804K | $5.4M | 15x | as long as short |
| Katana Perps DOGE-USD | +0.0097% | 8h | 0.1011 | +0.010% | $845 | $382K | 10x | as long as short |
| Nado DOGE-PERP | +0.0100% | 1h | 0.1012 | +0.054% | $603K | $894K | 10x | as long as short |
| Aster DOGEUSDT | +0.0100% | 8h | 0.1012 | +0.072% | $5.1M | $44.7M | 75x | as long as short |
| Pacifica DOGE | +0.0100% | 1h | 0.1012 | +0.099% | $337K | $506K | 20x | as long as short |
Bitget DOGEUSDT
Kalshi KXDOGEPERP
Deribit DOGE_USDC-PERPETUAL
gTrade (Gains Network) DOGE/USD
Gate DOGE_USDT
Lighter DOGE
Katana Perps DOGE-USD
Nado DOGE-PERP
Aster DOGEUSDT
Pacifica DOGEShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance DOGEUSDT | +0.0100% | 8h | 0.1012 | +0.058% | $323.0M | $1.34B | 75x | as long as short |
| Bybit DOGEUSDT | +0.0100% | 8h | 0.1011 | 0.000% | $159.8M | $427.5M | 75x | as long as short |
| OKX DOGE-USDT-SWAP | +0.0100% | 8h | 0.1012 | +0.030% | $110.8M | $947.2M | 50x | as long as short |
| Arcus DOGE-USD | +0.0100% | 1h | 0.1012 | +0.089% | $31K | $80K | 10x | as long as short |
| Bulk DOGE-USD | +0.0100% | 1h | 0.1015 | +0.326% | $389K | $12K | 10x | as long as short |
| MEXC DOGE_USDT | +0.0100% | 8h | 0.1012 | +0.059% | $114.7M | $218.8M | 300x | as long as short |
| KuCoin DOGEUSDTM | +0.0100% | 8h | 0.1013 | +0.188% | $66.7M | $41.5M | 75x | as long as short |
| BingX DOGE-USDC | +0.0100% | 8h | 0.1012 | +0.099% | — | $3.4M | — | as long as short |
| Variational Omni DOGE | +0.0100% | 8h | 0.1014 | +0.240% | $1.0M | $8.1M | — | as long as short |
| edgeX DOGEUSDC | +0.0100% | 4h | 0.1013 | +0.168% | $279K | $117.6M | 20x | as long as short |
| GRVT DOGE_USDT_Perp | +0.0100% | 8h | 0.1013 | +0.148% | $638K | $4.6M | 10x | as long as short |
| ApeX Omni DOGEUSDT | +0.0100% | 1h | 0.1014 | +0.277% | $149K | $248K | 25x | as long as short |
| Polymarket Perps DOGE-USDlong | +0.0100% | 1h | 0.1011 | long leg | $262K | $554K | 10x | |
| Orderly PERP_DOGE_USDC | +0.0100% | 8h | 0.1011 | +0.010% | $74K | $433K | 50x | as long as short |
| Derive DOGE-PERP | +0.0100% | 1h | 0.1011 | −0.010% | $25K | $1K | 10x | as long as short |
| SunX DOGE-USDT | +0.0100% | 8h | 0.1013 | +0.160% | $36K | $2.2M | 30x | as long as short |
| SoDEX DOGE-USD | +0.0100% | 1h | 0.1012 | +0.030% | $2K | $3.6M | 10x | as long as short |
| HTX DOGE-USDT | +0.0100% | 8h | 0.1011 | −0.004% | $6.0M | $51.0M | 75x | as long as short |
| Phemex DOGEUSDT | +0.0100% | 8h | 0.1012 | +0.030% | $93.6M | $19.2M | 50x | as long as short |
| Paradex DOGE-USD-PERP | +0.0100% | 8h | 0.1011 | +0.021% | $18K | $5K | 30x | as long as short |
| Kraken Futures PF_DOGEUSD | +0.0104% | 1h | 0.1011 | +0.021% | $6.0M | $33.0M | 50x | as long as short |
| Extended DOGE-USD | +0.0104% | 1h | 0.1011 | −0.008% | $562K | $3.7M | 50x | as long as short |
| Aevo DOGE-PERP | +0.0104% | 1h | 0.1012 | +0.037% | $19K | — | 3x | as long as short |
| dYdX DOGE-USD | +0.0124% | 1h | 0.1012 | +0.035% | $227K | $44K | 10x | as long as short |
| Reya DOGERUSDPERP | +0.0178% | 1h | 0.1011 | +0.025% | $2K | — | 20x | as long as short |
| BloFin DOGE-USDT | +0.0220% | 8h | 0.1012 | +0.099% | $15.3M | $25.4M | 75x | as long as short |
| 01 Exchange DOGEUSD | +0.0232% | 1h | 0.1012 | +0.107% | $534 | $4K | 10x | as long as short |
| Phoenix DOGE | +0.0239% | 1h | 0.1013 | +0.175% | $67K | $281K | 10x | as long as short |
| Coinbase International DOGE-PERP-INTX | +0.0240% | 1h | 0.1012 | +0.079% | $2.0M | $24.1M | 50x | as long as short |
| GMX DOGE/USD [ETH-USDC] | L +0.0245% / S −0.0267% | 1h | 0.1012 | +0.116% | $315K | — | 200x | as long as short |
| Backpack DOGE_USDC_PERPshort | +0.0442% | 1h | 0.1012 | +0.119% | $541K | $961K | 15x | |
| RISEx DOGE/USDC | +0.0708% | 1h | 0.1012 | +0.098% | $317K | $475K | 10x | as long as short |
| Hyperliquid DOGE | +0.0911% | 1h | 0.1015 | +0.336% | $117.1M | $86.7M | 10x | as long as short |
| Injective DOGE/USDC PERP | +0.1039% | 1h | 0.1015 | +0.376% | $5K | $239K | 12x | as long as short |
Binance DOGEUSDT
Bybit DOGEUSDT
OKX DOGE-USDT-SWAP
Arcus DOGE-USD
Bulk DOGE-USD
MEXC DOGE_USDT
KuCoin DOGEUSDTM
BingX DOGE-USDC
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
Kraken Futures PF_DOGEUSD
Extended DOGE-USD
Aevo DOGE-PERP
dYdX DOGE-USD
Reya DOGERUSDPERP
BloFin DOGE-USDT
01 Exchange DOGEUSD
Phoenix DOGE
Coinbase International DOGE-PERP-INTX
GMX DOGE/USD [ETH-USDC]
RISEx DOGE/USDC
Hyperliquid DOGE
Injective DOGE/USDC PERP