Funding arb · Price arb /

DOGE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0148%/8h= −16.2% APRpaid last 24h −0.027%

Price spread now: Phemex against 01 Exchange+0.033%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on 01 Exchange Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Phemex is 0.033% dearer against 01 Exchange than usual: you sell high and buy low (spread +0.033% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 18 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange DOGEUSD	0.1001	0.0248	pay 0.0031% / 1h	49m 18s	$445	$4K	10x
Short	Phemex DOGEUSDT	0.1001	0.0100	get 0.0100% / 8h	1h 49m	$92.0M	$17.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against 01 Exchange. 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 01 ExchangebpFee PhemexbpOrdersPrice spread, now +0.033%Rate

Funding earned: −$31.08
Price spread: +0.033% → 0.000%: $3.3
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$46.78
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: 01 Exchange: no order-book sample; Phemex: live order book, 5 min ago. Net counts fees only.

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 01 Exchange no order-book sample	—	—	—	—	—
Sell Phemex live order book, 5 min ago	0.50 bp	9.3 bp −$9	18.5 bp −$185	34.0 bp −$3,398	doesn't fit

01 Exchange: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0082%	1h	0.1001	+0.019%	$5.7M	$40.4M	50x	as long as short
Polymarket Perps DOGE-USD	−0.0007%	1h	0.09988	−0.215%	$267K	$1.2M	10x	as long as short
dYdX DOGE-USD	0.0000%	1h	0.09997	−0.132%	$225K	$69K	10x	as long as short
Kalshi KXDOGEPERP	0.0000%	8h	0.09997	−0.127%	$601K	$6.6M	2.8x	as long as short
gTrade (Gains Network) DOGE/USD	L +0.0001% / S 0.0000%	1h	0.09996	−0.140%	$34K	—	150x	as long as short
Injective DOGE/USDC PERP	+0.0033%	1h	0.1053	+5.198%	$6K	$242K	12x	as long as short
Phoenix DOGE	+0.0080%	1h	0.1002	+0.084%	$18K	$382K	10x	as long as short
Bitget DOGEUSDT	+0.0080%	8h	0.09986	−0.237%	$142.4M	$344.2M	75x	as long as short
Lighter DOGE	+0.0096%	1h	0.1001	−0.010%	$854K	$6.8M	15x	as long as short
Nado DOGE-PERP	+0.0100%	1h	0.1000	−0.082%	$540K	$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	0.09998	−0.119%	$4.6M	$58.5M	75x	as long as short
Pacifica DOGE	+0.0100%	1h	0.1000	−0.068%	$320K	$500K	20x	as long as short
Binance DOGEUSDT	+0.0100%	8h	0.09999	−0.103%	$328.3M	$1.71B	75x	as long as short
Bybit DOGEUSDT	+0.0100%	8h	0.09991	−0.187%	$165.3M	$520.0M	75x	as long as short
OKX DOGE-USDT-SWAP	+0.0100%	8h	0.09994	−0.157%	$117.0M	$1.20B	50x	as long as short
Bulk DOGE-USD	+0.0100%	1h	0.09990	−0.197%	$384K	$16K	10x	as long as short
Gate DOGE_USDT	+0.0100%	8h	0.09994	−0.157%	$251.2M	$154.3M	75x	as long as short
MEXC DOGE_USDT	+0.0100%	8h	0.09996	−0.137%	$110.7M	$257.3M	300x	as long as short
KuCoin DOGEUSDTM	+0.0100%	8h	0.09995	−0.147%	$66.5M	$50.1M	75x	as long as short
BingX DOGE-USDT	+0.0100%	8h	0.09995	−0.147%	—	$80.9M	—	as long as short
Backpack DOGE_USDC_PERP	+0.0100%	1h	0.1001	−0.007%	$302K	$1.3M	15x	as long as short
Variational Omni DOGE	+0.0100%	8h	0.09992	−0.178%	$1.1M	$8.7M	—	as long as short
edgeX DOGEUSDC	+0.0100%	4h	0.09994	−0.156%	$303K	$140.2M	20x	as long as short
GRVT DOGE_USDT_Perp	+0.0100%	8h	0.1000	−0.083%	$640K	$4.7M	10x	as long as short
ApeX Omni DOGEUSDT	+0.0100%	1h	0.09980	−0.297%	$150K	$337K	25x	as long as short
Orderly PERP_DOGE_USDC	+0.0100%	8h	0.09995	−0.147%	$66K	$467K	50x	as long as short
Derive DOGE-PERP	+0.0100%	1h	0.09993	−0.170%	$19K	$7K	10x	as long as short
SunX DOGE-USDT	+0.0100%	8h	0.1002	+0.149%	$35K	$2.3M	30x	as long as short
SoDEX DOGE-USD	+0.0100%	1h	0.1001	+0.013%	$2K	$5.4M	10x	as long as short
HTX DOGE-USDT	+0.0100%	8h	0.1001	−0.007%	$6.0M	$69.1M	75x	as long as short
Phemex DOGEUSDTshort	+0.0100%	8h	0.1001	+0.033%	$92.0M	$17.0M	50x
Paradex DOGE-USD-PERP	+0.0100%	8h	0.1000	−0.082%	$18K	$5K	30x	as long as short
Extended DOGE-USD	+0.0104%	1h	0.09998	−0.119%	$488K	$4.1M	50x	as long as short
Aevo DOGE-PERP	+0.0104%	1h	0.09995	−0.150%	$19K	—	3x	as long as short
Katana Perps DOGE-USD	+0.0110%	8h	0.09999	−0.107%	$835	$530K	10x	as long as short
Hyperliquid DOGE	+0.0111%	1h	0.1000	−0.069%	$123.9M	$116.2M	10x	as long as short
Reya DOGERUSDPERP	+0.0196%	1h	0.09991	−0.184%	$2K	—	20x	as long as short
BloFin DOGE-USDT	+0.0220%	8h	0.1000	−0.087%	$16.2M	$27.1M	75x	as long as short
Coinbase International DOGE-PERP-INTX	+0.0240%	1h	0.1001	+0.043%	$1.9M	$34.8M	50x	as long as short
01 Exchange DOGEUSDlong	+0.0248%	1h	0.1001	long leg	$445	$4K	10x
GMX DOGE/USD [ETH-USDC]	L +0.0250% / S −0.0297%	1h	0.09996	−0.141%	$314K	—	200x	as long as short
Deribit DOGE_USDC-PERPETUAL	+0.0260%	1h	0.1001	+0.020%	$574K	$252K	25x	as long as short
Arcus DOGE-USD	+0.0387%	1h	0.09997	−0.127%	$27K	$300K	10x	as long as short
RISEx DOGE/USDC	+0.0626%	1h	0.1001	+0.002%	$403K	$457K	10x	as long as short