Funding arb · Price arb /

DOGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0631%/8h= −69.0% APRpaid last 24h −0.166%

Price spread now: Bybit against RISEx−0.079%7-day average −0.057% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$220.224% of the position

Long on RISEx Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.388%−$39 on $10k

Price spread, last 4 days (all we have)+0.061%+$6 · spread now −0.079%, 7d avg −0.057%

Together, before fees−0.327%−$33 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$19 a day on $10k at the current rate, and Bybit is 0.022% cheaper against RISEx than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.057%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx DOGE/USDC	0.09913	0.0731	pay 0.0091% / 1h	11m 08s	$399K	$456K	10x
Short	Bybit DOGEUSDT	0.09905	0.0100	get 0.0100% / 8h	11m 08s	$163.6M	$525.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against RISEx. 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 RISExbpFee BybitbpOrdersPrice spread, now −0.079%Rate

Funding earned: −$132.41
Price spread: −0.079% → −0.057%: −$2.17
Slippage, 4 orders: −$5.45
Fee RISEx: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$157.03
Costs to cover: 0.224%
Break-even: never at this rate

Slippage from RISEx: live order book, 27 min ago; Bybit: live order book, 3 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 RISEx live order book, 27 min ago	1.51 bp	4.5 bp −$5	9.9 bp −$99	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.50 bp	7.0 bp −$7	9.1 bp −$91	19.1 bp −$1,908	42.1 bp −$21.0K

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	−0.0060%	1h	0.09911	−0.015%	$5.5M	$40.8M	50x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.09905	−0.075%	$579K	$6.6M	2.8x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.09901	−0.120%	$35K	—	150x	as long as short
Bitget DOGEUSDT	+0.0002%	8h	0.09903	−0.099%	$140.4M	$347.8M	75x	as long as short
Injective DOGE/USDC PERP	+0.0033%	1h	0.1053	+6.226%	$6K	$242K	12x	as long as short
Polymarket Perps DOGE-USD	+0.0035%	1h	0.09898	−0.151%	$258K	$1.2M	10x	as long as short
dYdX DOGE-USD	+0.0043%	1h	0.09901	−0.117%	$222K	$63K	10x	as long as short
Lighter DOGE	+0.0096%	1h	0.09916	+0.033%	$827K	$6.9M	15x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.09902	−0.109%	$535K	$1.1M	10x	as long as short
Hyperliquid DOGE	+0.0100%	1h	0.09916	+0.030%	$123.5M	$117.3M	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	0.09911	−0.020%	$5.0M	$59.7M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.09903	−0.101%	$321K	$509K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.09913	−0.003%	$327.4M	$1.73B	75x	as long as short
Bybit DOGEUSDTshort	+0.0100%	8h	0.09905	−0.079%	$163.6M	$525.5M	75x
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.09909	−0.039%	$115.0M	$1.20B	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.09907	−0.059%	$16K	$311K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.09918	+0.056%	$379K	$16K	10x	as long as short
Gate DOGE_USDT	+0.0100%	8h	0.09907	−0.059%	$249.6M	$158.6M	75x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.09910	−0.029%	$117.2M	$259.4M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.09910	−0.029%	$66.1M	$49.9M	75x	as long as short
BingX DOGE-USDT	+0.0100%	8h	0.09909	−0.039%	—	$54.2M	—	as long as short
Backpack DOGE_USDC_PERP	+0.0100%	1h	0.09911	−0.019%	$302K	$1.3M	15x	as long as short
Variational Omni DOGE	+0.0100%	8h	0.09901	−0.120%	$1.0M	$8.7M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.09902	−0.113%	$300K	$140.0M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.09909	−0.039%	$627K	$4.5M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.09910	−0.029%	$142K	$346K	25x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.09903	−0.099%	$71K	$478K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.09899	−0.138%	$18K	$7K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.09907	−0.056%	$34K	$2.3M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.09908	−0.049%	$2K	$5.5M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.09908	−0.049%	$5.9M	$69.1M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.09910	−0.029%	$90.6M	$16.9M	50x	as long as short
Paradex DOGE-USD-PERP	+0.0100%	8h	0.09899	−0.143%	$18K	$5K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.09901	−0.118%	$485K	$4.1M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.09907	−0.060%	$19K	—	3x	as long as short
Katana Perps DOGE-USD	+0.0106%	8h	0.09904	−0.089%	$827	$541K	10x	as long as short
Phoenix DOGE	+0.0160%	1h	0.09911	−0.021%	$18K	$382K	10x	as long as short
Reya DOGERUSDPERP	+0.0200%	1h	0.09901	−0.118%	$2K	—	20x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0216%	1h	0.09912	−0.008%	$1.9M	$35.0M	50x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.09913	+0.002%	$15.4M	$26.9M	75x	as long as short
01 Exchange DOGEUSD	+0.0248%	1h	0.09910	−0.026%	$441	$4K	10x	as long as short
Deribit DOGE_USDC-PERPETUAL	+0.0255%	1h	0.09909	−0.040%	$569K	$261K	25x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0313% / S −0.0523%	1h	0.09908	−0.049%	$463K	—	200x	as long as short
RISEx DOGE/USDClong	+0.0731%	1h	0.09913	long leg	$399K	$456K	10x