Funding arb · Price arb /

DOGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0565%/8h= −61.9% APRpaid last 24h −0.198%

Price spread now: Kalshi against RISEx−0.115%7-day average −0.071% · 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−$37as in the Price arb table

costs, in and out, $10k−$330.328% of the position

Long on RISEx Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.505%−$51 on $10k

Price spread, last 4 days (all we have)−0.054%−$5 · spread now −0.115%, 7d avg −0.071%

Together, before fees−0.560%−$56 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Kalshi is 0.045% cheaper against RISEx than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.071%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx DOGE/USDC	0.09858	0.0565	pay 0.0071% / 1h	14m 56s	$409K	$448K	10x
Short	Kalshi KXDOGEPERP	0.09847	0	get 0.0000% / 8h	2h 14m	$492K	$6.4M	2.8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi 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 KalshibpOrdersPrice spread, now −0.115%Rate

Funding earned: −$118.7
Price spread: −0.115% → −0.071%: −$4.45
Slippage, 4 orders: −$16.79
Fee RISEx: 3 bp × 2 orders: −$6
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$155.95
Costs to cover: 0.328%
Break-even: never at this rate

Slippage from RISEx: live order book, 36 min ago; Kalshi: 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 RISEx live order book, 36 min ago	2.03 bp	5.0 bp −$5	10.0 bp −$100	doesn't fit	doesn't fit
Sell Kalshi live order book, 2 min ago	3.70 bp	14.0 bp −$14	19.0 bp −$190	doesn't fit	doesn't fit

DOGE on 43 exchanges

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	−0.0052%	1h	0.09844	−0.149%	$5.3M	$40.0M	50x	as long as short
Bitget DOGEUSDT	−0.0037%	8h	0.09837	−0.216%	$139.3M	$345.6M	75x	as long as short
Kalshi KXDOGEPERPshort	0.0000%	8h	0.09847	−0.115%	$492K	$6.4M	2.8x
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.09850	−0.081%	$33K	—	150x	as long as short
Gate DOGE_USDT	+0.0013%	8h	0.09841	−0.175%	$252.6M	$148.7M	75x	as long as short
Injective DOGE/USDC PERP	+0.0033%	1h	0.1053	+6.814%	$6K	$240K	12x	as long as short
Deribit DOGE_USDC-PERPETUAL	+0.0034%	1h	0.09848	−0.100%	$551K	$297K	25x	as long as short
Bybit DOGEUSDT	+0.0040%	8h	0.09840	−0.185%	$165.9M	$507.2M	75x	as long as short
Lighter DOGE	+0.0096%	1h	0.09853	−0.051%	$814K	$6.5M	15x	as long as short
Katana Perps DOGE-USD	+0.0100%	8h	0.09851	−0.074%	$943	$539K	10x	as long as short

Show all 43 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado DOGE-PERP	+0.0100%	1h	0.09851	−0.074%	$506K	$1.1M	10x	as long as short
Hyperliquid DOGE	+0.0100%	1h	0.09852	−0.061%	$122.2M	$111.4M	10x	as long as short
Aster DOGEUSDT	+0.0100%	8h	0.09847	−0.115%	$4.9M	$57.6M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.09850	−0.081%	$315K	$467K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.09848	−0.104%	$325.2M	$1.64B	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.09846	−0.124%	$116.0M	$1.13B	50x	as long as short
Arcus DOGE-USD	+0.0100%	1h	0.09857	−0.013%	$17K	$307K	10x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.09841	−0.180%	$376K	$2K	10x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.09845	−0.134%	$111.5M	$257.2M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.09847	−0.114%	$65.3M	$47.3M	75x	as long as short
BingX DOGE-USDC	+0.0100%	8h	0.09843	−0.155%	—	$3.5M	—	as long as short
Backpack DOGE_USDC_PERP	+0.0100%	1h	0.09844	−0.145%	$312K	$1.2M	15x	as long as short
Variational Omni DOGE	+0.0100%	8h	0.09843	−0.151%	$1.2M	$7.8M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.09841	−0.178%	$265K	$133.9M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.09844	−0.142%	$628K	$4.0M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.09840	−0.185%	$139K	$345K	25x	as long as short
Polymarket Perps DOGE-USD	+0.0100%	1h	0.09847	−0.109%	$246K	$1.2M	10x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.09847	−0.114%	$68K	$422K	50x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.09857	−0.014%	$34K	$2.0M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.09844	−0.145%	$2K	$5.4M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.09856	−0.026%	$6.0M	$66.0M	75x	as long as short
Phemex DOGEUSDT	+0.0100%	8h	0.09845	−0.134%	$89.8M	$15.7M	50x	as long as short
Paradex DOGE-USD-PERP	+0.0100%	8h	0.09848	−0.101%	$18K	$5K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.09839	−0.196%	$482K	$4.0M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.09846	−0.129%	$19K	—	3x	as long as short
Phoenix DOGE	+0.0161%	1h	0.09854	−0.045%	$18K	$355K	10x	as long as short
01 Exchange DOGEUSD	+0.0176%	1h	0.09858	0.000%	$454	$4K	10x	as long as short
Reya DOGERUSDPERP	+0.0205%	1h	0.09849	−0.096%	$2K	—	20x	as long as short
GMX DOGE/USD [ETH-USDC]	L +0.0211% / S −0.0184%	1h	0.09849	−0.095%	$286K	—	200x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.09846	−0.124%	$15.4M	$25.9M	75x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0240%	1h	0.09858	−0.003%	$2.2M	$34.4M	50x	as long as short
dYdX DOGE-USD	+0.0308%	1h	0.09852	−0.059%	$231K	$67K	10x	as long as short
RISEx DOGE/USDClong	+0.0565%	1h	0.09858	long leg	$409K	$448K	10x