AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0295%/8h= −32.3% APRnext payment −$0.37 per $10,000 · paid last 24h −0.152%

Price spread now: Deribit against Backpack−0.027%7-day average −0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$76as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$290.286% of the position

Long on Backpack Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.474%−$47 on $10k

Price spread, last 3 days (all we have)−0.109%−$11 · spread now −0.027%, 7d avg −0.044%

Together, before fees−0.583%−$58 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.044%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AVAX_USDC_PERP	11.236	0.0100	pay 0.0013% / 1h	32m 48s	$359K	$563K	15x
Short	Deribit AVAX_USDC-PERPETUAL	11.233	−0.0195	pay 0.0024% / 1h	32m 48s	$5.3M	$8.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.027%Rate

Funding earned: −$61.93
Price spread: −0.027% → −0.044%: $1.76
Slippage, 4 orders: −$11.63
Fee Backpack: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$88.81
Costs to cover: 0.286%
Break-even: never at this rate

Slippage from Backpack: live order book, 46 min ago; Deribit: live order book, 1 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, 46 min ago	0.44 bp	10.1 bp −$10	35.6 bp −$356	doesn't fit	doesn't fit
Sell Deribit live order book, 1 min ago	0.89 bp	6.0 bp −$6	19.4 bp −$194	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	−0.1451%	1h	11.190	−0.409%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUALshort	−0.0195%	1h	11.233	−0.027%	$5.3M	$8.9M	25x
Nado AVAX-PERP	−0.0093%	1h	11.232	−0.036%	$296K	$883K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.236	−0.002%	$103K	$111K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.238	+0.018%	$13K	—	150x	as long as short
Variational Omni AVAX	+0.0072%	8h	11.226	−0.087%	$3.0M	$2.4M	—	as long as short
Lighter AVAX	+0.0096%	1h	11.236	+0.002%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.236	0.000%	$19K	$673K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.235	−0.007%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.237	+0.007%	$2.3M	$1.8M	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	11.240	+0.036%	$299K	$118K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.236	0.000%	$120.2M	$513.3M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.236	0.000%	$89.4M	$155.1M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.236	0.000%	$20.2M	$144.0M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.233	−0.027%	$12.5M	$40.3M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.236	0.000%	$51.5M	$93.2M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.239	+0.027%	$15.8M	$24.2M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.234	−0.018%	$34.2M	$58.1M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.233	−0.027%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERPlong	+0.0100%	1h	11.236	long leg	$359K	$563K	15x
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.232	−0.036%	$352K	$862K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.228	−0.071%	$180K	$685K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.238	+0.018%	$132K	$440K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.243	+0.062%	$204K	$303K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.265	+0.257%	$12K	$733K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.236	0.000%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.236	−0.004%	$363K	$1.0M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.231	−0.044%	$30.2M	$4.9M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.231	−0.049%	$672K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.233	−0.029%	$258K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.233	−0.027%	$5.0M	$7.5M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.235	−0.012%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0270%	1h	11.240	+0.040%	$4.6M	$13.1M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0280%	1h	11.245	+0.080%	$914K	$7.9M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0423% / S −0.0278%	1h	11.238	+0.014%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0812%	1h	11.255	+0.169%	$43.7M	$55.1M	10x	as long as short