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Funding arb · Price arb /

DOGE

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 02:00 UTC+0.0140%/8h= +15.4% APRpaid last 24h −0.009%
Price spread now: Phoenix against SunX−0.112%7-day average 0.000% · you buy dearer than you sell
Net, funding: paid 7d − costs−$93as in the Funding arb table
Net, price: spread back to 7d avg − costs−$82as in the Price arb table
costs, in and out, $10k−$710.709% of the position
Long on SunXShort on Phoenix
What this pair did over the last
the charts below follow
Funding, last 7 days−0.226%−$23 on $10k
Price spread, last 4 days (all we have)+0.186%+$19 · spread now −0.112%, 7d avg 0.000%
Together, before fees−0.040%−$4 on $10k · with fees, hour by hour
Funding pays, the price is against you. Phoenix is 0.112% cheaper against SunX than usual: you would sell low and buy high (spread −0.112% now, against its 7-day average of 0.000%). If the spread goes back, that is −$11 on $10k: about 2.7 days of funding at the current rate (+$4 a day). Mind the row above: over the last 7 days funding on this pair cost −0.226%, so the current rate has only just turned in your favour.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongSunX DOGE-USDT0.099420.0100pay 0.0100% / 8h5h 11m$35K$2.2M30x
ShortPhoenix DOGE0.099300.0240get 0.0030% / 1h11m 16s$64K$288K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phoenix against SunX. 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

Funding earned
$29.46
Price spread: −0.112% → 0.000%
−$11.18
Slippage, 4 orders
−$55.91
Fee SunX: 4 bp × 2 orders
−$8
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
−$52.63
Costs to cover
0.709%
Break-even
19.5 days
Slippage from SunX: live order book, 5 min ago; Phoenix: live order book, 47 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy SunX live order book, 5 min ago18.53 bp22.5 bp −$2328.3 bp −$283doesn't fitdoesn't fit
Sell Phoenix live order book, 47 min ago1.00 bp12.4 bp −$1243.0 bp −$430doesn't fitdoesn't fit

DOGE on 44 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget DOGEUSDT−0.0076%8h0.09945+0.035%$150.4M$274.0M75xas long as short
dYdX DOGE-USD0.0000%1h0.09924−0.172%$223K$49K10xas long as short
Kalshi KXDOGEPERP0.0000%8h0.09936−0.059%$429K$5.2M2.8xas long as short
gTrade (Gains Network) DOGE/USDL +0.0001% / S 0.0000%1h0.09944+0.023%$24K—150xas long as short
Lighter DOGE+0.0096%1h0.09958+0.168%$771K$6.2M15xas long as short
Katana Perps DOGE-USD+0.0100%8h0.09941−0.005%$898$444K10xas long as short
Nado DOGE-PERP+0.0100%1h0.09936−0.055%$533K$997K10xas long as short
Aster DOGEUSDT+0.0100%8h0.09938−0.031%$4.7M$48.7M75xas long as short
Pacifica DOGE+0.0100%1h0.09932−0.093%$326K$483K20xas long as short
Binance DOGEUSDT+0.0100%8h0.09954+0.123%$318.5M$1.44B75xas long as short
Show all 44 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit DOGEUSDT+0.0100%8h0.09954+0.126%$160.3M$441.0M75xas long as short
OKX DOGE-USDT-SWAP+0.0100%8h0.09957+0.156%$111.1M$988.2M50xas long as short
Bulk DOGE-USD+0.0100%1h0.09966+0.246%$382K$010xas long as short
Gate DOGE_USDT+0.0100%8h0.09940−0.015%$243.0M$133.8M75xas long as short
MEXC DOGE_USDT+0.0100%8h0.09955+0.136%$112.1M$231.6M300xas long as short
KuCoin DOGEUSDTM+0.0100%8h0.09938−0.035%$65.8M$43.4M75xas long as short
BingX DOGE-USDT+0.0100%8h0.09943+0.015%—$76.3M—as long as short
Backpack DOGE_USDC_PERP+0.0100%1h0.09918−0.236%$326K$1.1M15xas long as short
Variational Omni DOGE+0.0100%8h0.09975+0.332%$988K$8.2M—as long as short
edgeX DOGEUSDC+0.0100%4h0.09943+0.018%$296K$128.3M20xas long as short
GRVT DOGE_USDT_Perp+0.0100%8h0.09934−0.075%$627K$4.4M10xas long as short
ApeX Omni DOGEUSDT+0.0100%1h0.09940−0.015%$145K$281K25xas long as short
Polymarket Perps DOGE-USD+0.0100%1h0.09931−0.104%$251K$742K10xas long as short
Orderly PERP_DOGE_USDC+0.0100%8h0.09951+0.096%$70K$438K50xas long as short
Derive DOGE-PERP+0.0100%1h0.09948+0.063%$24K$1K10xas long as short
SunX DOGE-USDTlong+0.0100%8h0.09942long leg$35K$2.2M30x
SoDEX DOGE-USD+0.0100%1h0.09952+0.106%$2K$3.9M10xas long as short
HTX DOGE-USDT+0.0100%8h0.09949+0.078%$6.0M$56.7M75xas long as short
Phemex DOGEUSDT+0.0100%8h0.09952+0.106%$91.6M$16.6M50xas long as short
Paradex DOGE-USD-PERP+0.0102%8h0.09926−0.152%$18K$6K30xas long as short
Extended DOGE-USD+0.0104%1h0.09949+0.075%$499K$4.1M50xas long as short
Aevo DOGE-PERP+0.0104%1h0.09950+0.081%$19K—3xas long as short
Deribit DOGE_USDC-PERPETUAL+0.0182%1h0.09954+0.130%$595K$118K25xas long as short
Reya DOGERUSDPERP+0.0187%1h0.09938−0.034%$2K—20xas long as short
01 Exchange DOGEUSD+0.0216%1h0.09942+0.004%$530$4K10xas long as short
BloFin DOGE-USDT+0.0220%8h0.09948+0.065%$15.6M$25.1M75xas long as short
Phoenix DOGEshort+0.0240%1h0.09930−0.112%$64K$288K10x
GMX DOGE/USD [ETH-USDC]L +0.0246% / S −0.0269%1h0.09940−0.011%$311K—200xas long as short
Coinbase International DOGE-PERP-INTX+0.0248%1h0.09958+0.166%$2.3M$26.4M50xas long as short
Kraken Futures PF_DOGEUSD+0.0307%1h0.09951+0.099%$5.7M$35.3M50xas long as short
Hyperliquid DOGE+0.0522%1h0.09948+0.062%$121.3M$100.0M10xas long as short
RISEx DOGE/USDC+0.0747%1h0.09944+0.023%$402K$388K10xas long as short
Arcus DOGE-USD+0.0781%1h0.09950+0.086%$128K$179K10xas long as short
Injective DOGE/USDC PERP+0.1072%1h0.09960+0.186%$5K$239K12xas long as short