Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.018%

Price spread now: GRVT against Backpack+0.187%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$370.374% of the position

Long on Backpack Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.131%+$13 on $10k

Price spread, last 4 days (all we have)−0.031%−$3 · spread now +0.187%, 7d avg +0.022%

Together, before fees+0.100%+ Points / potential airdropGRVT: Active · farm board+$10 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: GRVT is 0.165% dearer against Backpack than usual: you sell high and buy low, +$17 on $10k if it goes back to its 7-day average of +0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AVAX_USDC_PERP	10.566	0.0100	pay 0.0013% / 1h	39m 11s	$372K	$535K	15x
Short	GRVT AVAX_USDT_Perp	10.586	0.0100	get 0.0100% / 8h	2h 39m	$335K	$957K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.187%Rate

Funding earned: $0
Price spread: +0.187% → +0.022%: $16.5
Slippage, 4 orders: −$18.42
Fee Backpack: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$20.91
Costs to cover: 0.374%
Break-even: never at this rate

Slippage from Backpack: live order book, 10 min ago; GRVT: live order book, 9 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, 10 min ago	0.47 bp	14.2 bp −$14	49.9 bp −$499	doesn't fit	doesn't fit
Sell GRVT live order book, 9 min ago	1.89 bp	6.9 bp −$7	15.0 bp −$150	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	10.760	+1.836%	$17K	$152K	12x	as long as short
Kraken Futures PF_AVAXUSD	−0.0283%	1h	10.552	−0.132%	$4.2M	$11.4M	50x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0034%	1h	10.549	−0.161%	$4.7M	$7.5M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.569	+0.032%	$92K	$101K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0001% / S 0.0000%	1h	10.551	−0.146%	$22K	—	150x	as long as short
Nado AVAX-PERP	+0.0015%	1h	10.545	−0.199%	$295K	$334K	10x	as long as short
Variational Omni AVAX	+0.0016%	8h	10.570	+0.037%	$2.8M	$2.2M	—	as long as short
Gate AVAX_USDT	+0.0020%	8h	10.564	−0.019%	$12.0M	$32.1M	75x	as long as short
Polymarket Perps AVAX-USD	+0.0040%	1h	10.562	−0.038%	$131K	$355K	10x	as long as short
Paradex AVAX-USD-PERP	+0.0096%	8h	10.567	+0.011%	$12K	$212	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AVAX	+0.0096%	1h	10.567	+0.009%	$1.1M	$2.6M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.565	−0.009%	$15K	$446K	50x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.580	+0.133%	$38.0M	$43.3M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.554	−0.114%	$2.1M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.576	+0.095%	$266K	$130K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.570	+0.038%	$112.0M	$428.5M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.562	−0.038%	$78.4M	$144.1M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.568	+0.019%	$18.5M	$111.2M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.571	+0.047%	$41.5M	$79.3M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.574	+0.076%	$13.3M	$22.7M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.575	+0.085%	$31.6M	$49.2M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.578	+0.114%	—	$54.6M	—	as long as short
Backpack AVAX_USDC_PERPlong	+0.0100%	1h	10.566	long leg	$372K	$535K	15x
GRVT AVAX_USDT_Perpshort	+0.0100%	8h	10.586	+0.187%	$335K	$957K	10x
ApeX Omni AVAXUSDT	+0.0100%	1h	10.587	+0.199%	$171K	$663K	50x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.553	−0.123%	$167K	$339K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.579	+0.124%	$11K	$747K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.546	−0.189%	$17K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.548	−0.174%	$340K	$792K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.566	0.000%	$28.2M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.542	−0.229%	$638K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.545	−0.200%	$242K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0216%	1h	10.550	−0.151%	$843K	$4.7M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.575	+0.085%	$4.6M	$5.5M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	10.543	−0.213%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0263%	1h	10.550	−0.147%	$234K	—	120x	as long as short