AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h −0.021%

Price spread now: Backpack against Aevo+0.090%7-day average +0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$932as in the Funding arb table

Net, price: spread back to 7d avg − costs−$913as in the Price arb table

costs, in and out, $10k−$9189.178% of the position

Long on Aevo Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.141%−$14 on $10k

Price spread, last 4 days (all we have)+0.010%+$1 · spread now +0.090%, 7d avg +0.038%

Together, before fees−0.131%−$13 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.052% dearer against Aevo than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo AVAX-PERP	10.679	0.0104	pay 0.0013% / 1h	58m 59s	$245K	—	3x
Short	Backpack AVAX_USDC_PERP	10.689	0.0100	get 0.0013% / 1h	58m 59s	$436K	$558K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Aevo. 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 AevobpFee BackpackbpOrdersPrice spread, now +0.090%Rate

Funding earned: −$0.84
Price spread: +0.090% → +0.038%: $5.16
Slippage, 4 orders: −$891.77
Fee Aevo: 8 bp × 2 orders: −$16
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$913.45
Costs to cover: 9.178%
Break-even: never at this rate

Slippage from Aevo: live order book, 45 min ago; Backpack: live order book, 45 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 Aevo live order book, 45 min ago	205.90 bp	438.3 bp −$438	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 45 min ago	1.40 bp	6.9 bp −$7	41.4 bp −$414	doesn't fit	doesn't fit

AVAX on 36 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
Nado AVAX-PERP	−0.0435%	1h	10.684	+0.048%	$281K	$335K	10x	as long as short
Kraken Futures PF_AVAXUSD	−0.0185%	1h	10.685	+0.051%	$3.8M	$12.0M	50x	as long as short
Variational Omni AVAX	−0.0067%	8h	10.666	−0.129%	$2.9M	$2.2M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.687	+0.076%	$91K	$111K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.687	+0.071%	$4.8M	$6.9M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.688	+0.083%	$12K	—	150x	as long as short
Gate AVAX_USDT	+0.0012%	8h	10.686	+0.062%	$12.9M	$30.4M	75x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	+0.755%	$17K	$151K	12x	as long as short
Paradex AVAX-USD-PERP	+0.0083%	8h	10.687	+0.068%	$12K	$212	20x	as long as short
Bybit AVAXUSDT	+0.0084%	8h	10.679	−0.004%	$81.4M	$143.0M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AVAX	+0.0096%	1h	10.685	+0.054%	$1.2M	$2.4M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.688	+0.081%	$25K	$472K	50x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.694	+0.137%	$37.2M	$43.6M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.690	+0.103%	$2.2M	$1.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.689	+0.090%	$268K	$129K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.682	+0.022%	$112.9M	$418.6M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.679	−0.004%	$18.8M	$110.8M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.686	+0.062%	$45.7M	$78.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.684	+0.043%	$13.6M	$22.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.683	+0.034%	$32.4M	$48.4M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.686	+0.062%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERPshort	+0.0100%	1h	10.689	+0.090%	$436K	$558K	15x
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.669	−0.098%	$339K	$1.1M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.675	−0.041%	$172K	$661K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.688	+0.081%	$134K	$347K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.694	+0.137%	$231K	$255K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.716	+0.343%	$11K	$769K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.685	+0.053%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.687	+0.067%	$325K	$879K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.688	+0.081%	$28.5M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.681	+0.011%	$609K	$1.4M	25x	as long as short
Aevo AVAX-PERPlong	+0.0104%	1h	10.679	long leg	$245K	—	3x
BloFin AVAX-USDT	+0.0220%	8h	10.684	+0.043%	$4.6M	$5.5M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0224%	1h	10.693	+0.127%	$849K	$5.1M	50x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.680	+0.009%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0443% / S −0.0294%	1h	10.687	+0.074%	$225K	—	120x	as long as short