Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.008%

Price spread now: Gate against Backpack−0.027%7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$470.472% of the position

Long on Backpack Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.044%+$4 on $10k

Price spread, last 4 days (all we have)+0.054%+$5 · spread now −0.027%, 7d avg −0.028%

Together, before fees+0.097%+$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.028%, so right now this pair is about funding alone: −$2 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	11.118	0.0100	pay 0.0013% / 1h	11m 00s	$355K	$511K	15x
Short	Gate AVAX_USDT	11.115	0.0050	get 0.0050% / 8h	6h 11m	$12.1M	$36.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.027%Rate

Funding earned: −$10.5
Price spread: −0.027% → −0.028%: $0.05
Slippage, 4 orders: −$22.2
Fee Backpack: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$57.65
Costs to cover: 0.472%
Break-even: never at this rate

Slippage from Backpack: live order book, 58 min ago; Gate: 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, 58 min ago	0.45 bp	8.9 bp −$9	36.7 bp −$367	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	1.35 bp	16.8 bp −$17	22.6 bp −$226	36.6 bp −$3,665	65.3 bp −$32.7K

AVAX on 35 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	11.070	−0.432%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0110%	1h	11.113	−0.045%	$5.2M	$8.1M	25x	as long as short
Nado AVAX-PERP	−0.0040%	1h	11.103	−0.135%	$286K	$492K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.111	−0.063%	$102K	$91K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.107	−0.098%	$13K	—	150x	as long as short
Gate AVAX_USDTshort	+0.0050%	8h	11.115	−0.027%	$12.1M	$36.7M	75x
Lighter AVAX	+0.0096%	1h	11.117	−0.011%	$1.2M	$3.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.104	−0.126%	$16K	$576K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.109	−0.077%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.114	−0.033%	$2.3M	$1.4M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AVAX	+0.0100%	1h	11.114	−0.040%	$295K	$107K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.117	−0.009%	$118.6M	$450.7M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.116	−0.018%	$88.5M	$141.6M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.118	0.000%	$20.0M	$121.9M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.116	−0.018%	$48.7M	$82.8M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.119	+0.009%	$15.5M	$22.3M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.114	−0.036%	$33.4M	$50.2M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.115	−0.027%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERPlong	+0.0100%	1h	11.118	long leg	$355K	$511K	15x
Variational Omni AVAX	+0.0100%	8h	11.107	−0.103%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.120	+0.019%	$355K	$790K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.124	+0.054%	$179K	$679K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.106	−0.108%	$130K	$361K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.118	0.000%	$195K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.143	+0.222%	$12K	$710K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.116	−0.018%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.114	−0.031%	$361K	$854K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.116	−0.018%	$29.7M	$5.6M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.112	−0.052%	$671K	$1.7M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.107	−0.099%	$255K	—	3x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.102	−0.147%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.119	+0.012%	$4.3M	$11.7M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0288%	1h	11.113	−0.045%	$903K	$5.8M	50x	as long as short
Hyperliquid AVAX	+0.0389%	1h	11.130	+0.108%	$43.2M	$45.6M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.108	−0.086%	$236K	—	120x	as long as short