Funding arb · Price arb /

DOGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bulk against Polymarket Perps+0.514%7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs+$18as in the Price arb table

costs, in and out, $10k−$300.304% of the position

Long on Polymarket Perps Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.004%$0 on $10k

Price spread, last 4 days (all we have)−1.044%−$104 · spread now +0.514%, 7d avg +0.026%

Together, before fees−1.041%−$104 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: Bulk is 0.488% dearer against Polymarket Perps than usual: you sell high and buy low, +$49 on $10k if it goes back to its 7-day average of +0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps DOGE-USD	0.09965	0.0100	pay 0.0013% / 1h	59m 54s	$256K	$684K	10x
Short	Bulk DOGE-USD	0.1002	0.0100	get 0.0013% / 1h	59m 54s	$384K	$5K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk 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 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 Polymarket PerpsbpFee BulkbpOrdersPrice spread, now +0.514%Rate

Funding earned: $0
Price spread: +0.514% → +0.026%: $48.77
Slippage, 4 orders: −$15.4
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $18.38
Costs to cover: 0.304%
Break-even: from the start

Slippage from Polymarket Perps: live order book, 3 min ago; Bulk: 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 Polymarket Perps live order book, 3 min ago	2.70 bp	6.7 bp −$7	8.6 bp −$86	doesn't fit	doesn't fit
Sell Bulk live order book, 4 min ago	4.99 bp	8.5 bp −$8	8.5 bp −$85	16.7 bp −$1,670	28.5 bp −$14.3K

DOGE on 43 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	−0.0094%	8h	0.09972	+0.074%	$151.0M	$273.0M	75x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.09959	−0.056%	$393K	$5.0M	2.8x	as long as short
Deribit DOGE_USDC-PERPETUAL	0.0000%	1h	0.09959	−0.054%	$595K	$118K	25x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.09961	−0.038%	$23K	—	150x	as long as short
dYdX DOGE-USD	+0.0010%	1h	0.09978	+0.135%	$224K	$49K	10x	as long as short
Kraken Futures PF_DOGEUSD	+0.0067%	1h	0.09955	−0.099%	$5.8M	$34.7M	50x	as long as short
Lighter DOGE	+0.0096%	1h	0.09961	−0.039%	$819K	$6.1M	15x	as long as short
Katana Perps DOGE-USD	+0.0099%	8h	0.09973	+0.084%	$833	$429K	10x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.09967	+0.029%	$531K	$988K	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.09956	−0.087%	$4.6M	$48.1M	75x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica DOGE	+0.0100%	1h	0.09984	+0.195%	$328K	$503K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.09978	+0.134%	$317.7M	$1.43B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.09982	+0.175%	$159.4M	$436.4M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.09983	+0.185%	$110.7M	$981.8M	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.09986	+0.215%	$128K	$178K	10x	as long as short
Bulk DOGE-USDshort	+0.0100%	1h	0.1002	+0.514%	$384K	$5K	10x
Gate DOGE_USDT	+0.0100%	8h	0.09972	+0.074%	$242.1M	$133.8M	75x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.09973	+0.084%	$113.6M	$232.6M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.09963	−0.016%	$65.9M	$43.1M	75x	as long as short
BingX DOGE-USDT	+0.0100%	8h	0.09978	+0.134%	—	$76.4M	—	as long as short
Backpack DOGE_USDC_PERP	+0.0100%	1h	0.09949	−0.157%	$334K	$1.1M	15x	as long as short
Variational Omni DOGE	+0.0100%	8h	0.09973	+0.082%	$995K	$8.2M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.10000	+0.355%	$294K	$129.5M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.09982	+0.170%	$627K	$4.4M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.1000	+0.355%	$146K	$272K	25x	as long as short
Polymarket Perps DOGE-USDlong	+0.0100%	1h	0.09965	long leg	$256K	$684K	10x
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.09962	−0.026%	$70K	$440K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.09959	−0.055%	$24K	$1K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.09987	+0.229%	$35K	$2.2M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.09960	−0.046%	$2K	$3.8M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.09955	−0.100%	$5.9M	$55.4M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.09952	−0.126%	$91.7M	$16.9M	50x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.09969	+0.045%	$560K	$4.0M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.09958	−0.069%	$19K	—	3x	as long as short
Paradex DOGE-USD-PERP	+0.0106%	8h	0.09975	+0.106%	$18K	$6K	30x	as long as short
Hyperliquid DOGE	+0.0141%	1h	0.09990	+0.256%	$121.5M	$99.4M	10x	as long as short
Reya DOGERUSDPERP	+0.0185%	1h	0.09962	−0.029%	$2K	—	20x	as long as short
01 Exchange DOGEUSD	+0.0216%	1h	0.09977	+0.125%	$532	$4K	10x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0240%	1h	0.09963	−0.016%	$2.3M	$25.7M	50x	as long as short
Phoenix DOGE	+0.0241%	1h	0.1000	+0.358%	$65K	$284K	10x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0245% / S −0.0267%	1h	0.09961	−0.040%	$310K	—	200x	as long as short
RISEx DOGE/USDC	+0.0563%	1h	0.09979	+0.150%	$402K	$367K	10x	as long as short
Injective DOGE/USDC PERP	+0.1004%	1h	0.1006	+0.957%	$5K	$239K	12x	as long as short