Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.007%

Price spread now: Binance against Backpack−0.125%7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$310.308% of the position

Long on Backpack Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.093%+$9 on $10k

Price spread, last 4 days (all we have)+0.157%+$16 · spread now −0.125%, 7d avg −0.016%

Together, before fees+0.250%+$25 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: Binance is 0.109% cheaper against Backpack than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of −0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AVAX_USDC_PERP	11.192	0.0100	pay 0.0013% / 1h	18m 22s	$358K	$494K	15x
Short	Binance AVAXUSDT	11.178	0.0100	get 0.0100% / 8h	5h 18m	$119.6M	$431.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Backpack. 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 BackpackbpFee BinancebpOrdersPrice spread, now −0.125%Rate

Funding earned: $0
Price spread: −0.125% → −0.016%: −$10.9
Slippage, 4 orders: −$10.83
Fee Backpack: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$41.74
Costs to cover: 0.308%
Break-even: never at this rate

Slippage from Backpack: live order book, 45 min ago; Binance: live order book, 10 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 Backpack live order book, 45 min ago	0.45 bp	8.6 bp −$9	41.4 bp −$414	doesn't fit	doesn't fit
Sell Binance live order book, 10 min ago	0.45 bp	6.7 bp −$7	13.0 bp −$130	43.8 bp −$4,381	136.7 bp −$68.3K

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	−0.1374%	1h	11.120	−0.643%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0108%	1h	11.178	−0.125%	$5.2M	$7.9M	25x	as long as short
Nado AVAX-PERP	−0.0075%	1h	11.178	−0.125%	$288K	$443K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.183	−0.083%	$103K	$87K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.178	−0.126%	$13K	—	150x	as long as short
Kraken Futures PF_AVAXUSD	+0.0045%	1h	11.186	−0.054%	$4.4M	$11.5M	50x	as long as short
Lighter AVAX	+0.0096%	1h	11.183	−0.080%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.180	−0.107%	$16K	$565K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.180	−0.104%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.184	−0.071%	$2.3M	$1.2M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AVAX	+0.0100%	1h	11.185	−0.066%	$292K	$114K	10x	as long as short
Binance AVAXUSDTshort	+0.0100%	8h	11.178	−0.125%	$119.6M	$431.1M	75x
Bybit AVAXUSDT	+0.0100%	8h	11.179	−0.116%	$88.8M	$138.0M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.179	−0.116%	$20.2M	$117.4M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.180	−0.107%	$12.2M	$35.0M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.181	−0.098%	$49.4M	$79.4M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.184	−0.071%	$15.7M	$21.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.179	−0.116%	$33.5M	$48.3M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.179	−0.116%	—	$81.5M	—	as long as short
Backpack AVAX_USDC_PERPlong	+0.0100%	1h	11.192	long leg	$358K	$494K	15x
Variational Omni AVAX	+0.0100%	8h	11.207	+0.138%	$2.9M	$2.3M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.203	+0.099%	$354K	$813K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.215	+0.206%	$180K	$675K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.184	−0.071%	$131K	$349K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.185	−0.063%	$196K	$312K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.207	+0.138%	$12K	$700K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.183	−0.080%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.198	+0.057%	$367K	$870K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.189	−0.027%	$29.8M	$5.6M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.180	−0.111%	$687K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.184	−0.075%	$257K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.192	0.000%	$5.1M	$5.5M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.191	−0.009%	$900K	$5.4M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.179	−0.116%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.177	−0.137%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0549%	1h	11.198	+0.054%	$43.6M	$42.8M	10x	as long as short