Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.007%

Price spread now: Phemex against ApeX Omni−0.233%7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$81as in the Price arb table

costs, in and out, $10k−$580.576% of the position

Long on ApeX Omni Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.042%−$4 on $10k

Price spread, last 4 days (all we have)+0.034%+$3 · spread now −0.233%, 7d avg −0.001%

Together, before fees−0.008%−$1 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: Phemex is 0.232% cheaper against ApeX Omni than usual: you would sell low and buy high, −$23 on $10k if it goes back to its 7-day average of −0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni AVAXUSDT	11.153	0.0100	pay 0.0013% / 1h	43m 15s	$179K	$674K	50x
Short	Phemex AVAXUSDT	11.127	0.0100	get 0.0100% / 8h	4h 43m	$29.7M	$5.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against ApeX Omni. 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 ApeX OmnibpFee PhemexbpOrdersPrice spread, now −0.233%Rate

Funding earned: $0
Price spread: −0.233% → −0.001%: −$23.18
Slippage, 4 orders: −$35.6
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$80.77
Costs to cover: 0.576%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 15 min ago; Phemex: live order book, 6 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 ApeX Omni live order book, 15 min ago	6.29 bp	14.5 bp −$15	76.7 bp −$767	doesn't fit	doesn't fit
Sell Phemex live order book, 6 min ago	3.15 bp	16.7 bp −$17	24.5 bp −$245	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
Injective AVAX/USDC PERP	−0.1423%	1h	11.100	−0.475%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0021%	1h	11.145	−0.072%	$287K	$373K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0020%	1h	11.122	−0.278%	$5.2M	$7.9M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.147	−0.050%	$98K	$97K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.125	−0.250%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.124	−0.256%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.140	−0.117%	$16K	$580K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.145	−0.071%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.147	−0.053%	$2.3M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.151	−0.022%	$291K	$114K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AVAXUSDT	+0.0100%	8h	11.125	−0.247%	$118.0M	$427.2M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.123	−0.269%	$88.4M	$137.6M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.122	−0.278%	$20.3M	$115.9M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.136	−0.152%	$12.2M	$34.0M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.136	−0.152%	$47.9M	$77.6M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.141	−0.108%	$15.8M	$21.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.125	−0.251%	$33.4M	$48.1M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.124	−0.260%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.155	+0.018%	$337K	$520K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.137	−0.140%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.150	−0.026%	$356K	$835K	10x	as long as short
ApeX Omni AVAXUSDTlong	+0.0100%	1h	11.153	long leg	$179K	$674K	50x
Polymarket Perps AVAX-USD	+0.0100%	1h	11.139	−0.126%	$131K	$337K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.129	−0.215%	$195K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.155	+0.014%	$12K	$704K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.126	−0.242%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.124	−0.256%	$366K	$835K	75x	as long as short
Phemex AVAXUSDTshort	+0.0100%	8h	11.127	−0.233%	$29.7M	$5.8M	50x
Extended AVAX-USD	+0.0104%	1h	11.120	−0.295%	$680K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.121	−0.282%	$255K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0212%	1h	11.126	−0.244%	$4.3M	$11.2M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.123	−0.269%	$5.0M	$5.4M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.133	−0.179%	$890K	$5.3M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.133	−0.178%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.132	−0.190%	$236K	—	120x	as long as short
Hyperliquid AVAX	+0.0640%	1h	11.152	−0.013%	$43.4M	$42.3M	10x	as long as short