Funding arb · Price arb /

DOGE

all DOGE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0107%/8h= +11.7% APRpaid last 24h +0.001%

Price spread now: Phemex against Polymarket Perps+0.017%7-day average +0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$6as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$390.394% of the position

Long on Polymarket Perps Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.333%+$33 on $10k

Price spread, last 4 days (all we have)+0.002%$0 · spread now +0.017%, 7d avg +0.036%

Together, before fees+0.335%+$33 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.036%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps DOGE-USD	0.09974	−0.0007	get 0.0001% / 1h	47m 10s	$266K	$1.2M	10x
Short	Phemex DOGEUSDT	0.09976	0.0100	get 0.0100% / 8h	1h 47m	$91.6M	$17.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.017%Rate

Funding earned: $22.41
Price spread: +0.017% → +0.036%: −$1.9
Slippage, 4 orders: −$19.44
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$18.94
Costs to cover: 0.394%
Break-even: 12.9 days

Slippage from Polymarket Perps: live order book, 1 min ago; Phemex: live order book, 2 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, 1 min ago	3.06 bp	8.5 bp −$8	9.5 bp −$95	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	0.50 bp	11.2 bp −$11	19.6 bp −$196	35.6 bp −$3,563	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
Kraken Futures PF_DOGEUSD	−0.0083%	1h	0.09975	+0.006%	$5.7M	$40.5M	50x	as long as short
Polymarket Perps DOGE-USDlong	−0.0007%	1h	0.09974	long leg	$266K	$1.2M	10x
dYdX DOGE-USD	0.0000%	1h	0.09977	+0.022%	$224K	$69K	10x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.09974	−0.001%	$600K	$6.6M	2.8x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.09975	+0.011%	$34K	—	150x	as long as short
Injective DOGE/USDC PERP	+0.0033%	1h	0.1053	+5.571%	$6K	$242K	12x	as long as short
Bitget DOGEUSDT	+0.0078%	8h	0.09970	−0.043%	$142.2M	$344.3M	75x	as long as short
Phoenix DOGE	+0.0080%	1h	0.1002	+0.439%	$18K	$382K	10x	as long as short
Lighter DOGE	+0.0096%	1h	0.09982	+0.081%	$852K	$6.8M	15x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.09986	+0.117%	$539K	$1.1M	10x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster DOGEUSDT	+0.0100%	8h	0.09976	+0.018%	$4.6M	$58.5M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.09981	+0.066%	$319K	$500K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.09977	+0.027%	$327.6M	$1.71B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.09972	−0.023%	$165.0M	$520.0M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.09973	−0.013%	$116.5M	$1.20B	50x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.09990	+0.157%	$384K	$16K	10x	as long as short
Gate DOGE_USDT	+0.0100%	8h	0.09975	+0.007%	$250.8M	$154.5M	75x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.09975	+0.007%	$110.4M	$257.4M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.09977	+0.027%	$66.4M	$50.1M	75x	as long as short
BingX DOGE-USDT	+0.0100%	8h	0.09977	+0.027%	—	$80.8M	—	as long as short
Backpack DOGE_USDC_PERP	+0.0100%	1h	0.09984	+0.097%	$301K	$1.3M	15x	as long as short
Variational Omni DOGE	+0.0100%	8h	0.09992	+0.176%	$1.1M	$8.7M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.1000	+0.262%	$303K	$140.4M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.1000	+0.272%	$640K	$4.7M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.1000	+0.258%	$150K	$337K	25x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.09978	+0.037%	$66K	$467K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.09976	+0.015%	$19K	$7K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.09982	+0.073%	$35K	$2.3M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.09977	+0.027%	$2K	$5.4M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.09977	+0.027%	$5.9M	$69.2M	75x	as long as short
Phemex DOGEUSDTshort	+0.0100%	8h	0.09976	+0.017%	$91.6M	$17.0M	50x
Paradex DOGE-USD-PERP	+0.0100%	8h	0.09976	+0.018%	$18K	$5K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.09973	−0.010%	$488K	$4.1M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.09978	+0.032%	$19K	—	3x	as long as short
Katana Perps DOGE-USD	+0.0109%	8h	0.09977	+0.027%	$834	$530K	10x	as long as short
Hyperliquid DOGE	+0.0113%	1h	0.09986	+0.115%	$123.7M	$116.2M	10x	as long as short
Reya DOGERUSDPERP	+0.0196%	1h	0.09975	+0.005%	$2K	—	20x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.09975	+0.007%	$16.2M	$27.0M	75x	as long as short
Deribit DOGE_USDC-PERPETUAL	+0.0231%	1h	0.09981	+0.062%	$573K	$252K	25x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0240%	1h	0.09983	+0.087%	$1.9M	$34.7M	50x	as long as short
01 Exchange DOGEUSD	+0.0248%	1h	0.09982	+0.079%	$444	$4K	10x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0250% / S −0.0297%	1h	0.09975	+0.009%	$314K	—	200x	as long as short
Arcus DOGE-USD	+0.0387%	1h	0.09978	+0.037%	$27K	$300K	10x	as long as short
RISEx DOGE/USDC	+0.0626%	1h	0.09984	+0.095%	$402K	$452K	10x	as long as short