AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0092%/8h= +10.1% APRnext payment +$0.12 per $10,000 · paid last 24h +0.035%

Price spread now: Coinbase International against Backpack+0.142%7-day average +0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$8as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$390.388% of the position

Long on Backpack Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.307%+$31 on $10k

Price spread, last 3 days (all we have)−0.251%−$25 · spread now +0.142%, 7d avg +0.039%

Together, before fees+0.056%+$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Coinbase International is 0.103% dearer against Backpack than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AVAX_USDC_PERP	11.270	0.0100	pay 0.0013% / 1h	51m 27s	$359K	$573K	15x
Short	Coinbase International AVAX-PERP-INTX	11.286	0.0192	get 0.0024% / 1h	51m 27s	$918K	$8.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.142%Rate

Funding earned: $19.32
Price spread: +0.142% → +0.039%: $10.31
Slippage, 4 orders: −$18.76
Fee Backpack: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$9.13
Costs to cover: 0.388%
Break-even: 10.3 days

Slippage from Backpack: live order book, 32 min ago; Coinbase International: live order book, 3 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, 32 min ago	0.44 bp	10.3 bp −$10	35.3 bp −$353	doesn't fit	doesn't fit
Sell Coinbase International live order book, 3 min ago	3.10 bp	12.6 bp −$13	20.0 bp −$200	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	−0.0570%	1h	11.230	−0.355%	$17K	$151K	12x	as long as short
Variational Omni AVAX	−0.0055%	8h	11.344	+0.652%	$3.0M	$2.2M	—	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0016%	1h	11.271	+0.009%	$5.4M	$9.2M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.269	−0.006%	$99K	$107K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0004%	1h	11.239	−0.275%	$16K	—	150x	as long as short
Nado AVAX-PERP	+0.0011%	1h	11.249	−0.189%	$297K	$948K	10x	as long as short
Gate AVAX_USDT	+0.0092%	8h	11.265	−0.044%	$12.6M	$39.3M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.264	−0.050%	$1.3M	$3.2M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.257	−0.115%	$14K	$695K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0098%	8h	11.263	−0.064%	$13K	$766	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster AVAXUSDT	+0.0100%	8h	11.264	−0.057%	$2.3M	$1.9M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.265	−0.042%	$299K	$121K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.241	−0.259%	$120.4M	$528.2M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.239	−0.275%	$90.1M	$155.4M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.251	−0.169%	$20.2M	$146.9M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.251	−0.169%	$53.6M	$99.5M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.257	−0.115%	$16.2M	$24.4M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.251	−0.169%	$34.6M	$60.0M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.239	−0.275%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERPlong	+0.0100%	1h	11.270	long leg	$359K	$573K	15x
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.348	+0.692%	$359K	$895K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.267	−0.027%	$181K	$686K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.255	−0.133%	$134K	$465K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.280	+0.089%	$203K	$301K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.307	+0.329%	$12K	$722K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.269	−0.009%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.273	+0.022%	$363K	$1.1M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.269	−0.009%	$30.3M	$5.0M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.261	−0.082%	$673K	$2.2M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.270	−0.004%	$259K	—	3x	as long as short
Coinbase International AVAX-PERP-INTXshort	+0.0192%	1h	11.286	+0.142%	$918K	$8.4M	50x
BloFin AVAX-USDT	+0.0220%	8h	11.268	−0.018%	$5.0M	$8.2M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.248	−0.193%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0396% / S −0.0236%	1h	11.243	−0.243%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0484%	1h	11.271	+0.009%	$43.7M	$57.7M	10x	as long as short
Kraken Futures PF_AVAXUSD	+0.0627%	1h	11.274	+0.032%	$4.6M	$13.5M	50x	as long as short