Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.022%

Price spread now: HTX against Backpack+0.037%52s7-day average −0.038% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$940.940% of the position

Long on Backpack Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.183%+$18 on $10k

Price spread, last 3 days (all we have)−0.237%−$24 · spread now +0.037%, 7d avg −0.038%

Together, before fees−0.054%−$5 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: HTX is 0.075% dearer against Backpack than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.038%. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AVAX_USDC_PERP	11.239	0.0100	pay 0.0013% / 1h	32m 10s	$333K	$560K	15x
Short	HTX AVAX-USDT	11.243	0.0100	get 0.0100% / 8h	2h 32m	$361K	$1.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.037%Rate

Funding earned: $0
Price spread: +0.037% → −0.038%: $7.49
Slippage, 4 orders: −$72.04
Fee Backpack: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$86.55
Costs to cover: 0.940%
Break-even: never at this rate

Slippage from Backpack: live order book, 56 min ago; HTX: live order book, 2 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, 56 min ago	1.36 bp	9.9 bp −$10	36.8 bp −$368	doesn't fit	doesn't fit
Sell HTX live order book, 2 min ago	28.45 bp	34.5 bp −$34	88.8 bp −$888	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
Variational Omni AVAX	−0.0155%	8h	11.233	−0.052%	$2.9M	$2.1M	—	as long as short
Nado AVAX-PERP	−0.0106%	1h	11.245	+0.058%	$297K	$956K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0106%	1h	11.245	+0.053%	$5.3M	$9.4M	25x	as long as short
Injective AVAX/USDC PERP	−0.0043%	1h	11.100	−1.237%	$17K	$127K	12x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.249	+0.093%	$99K	$115K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.251	+0.104%	$13K	—	150x	as long as short
Extended AVAX-USD	+0.0008%	1h	11.245	+0.051%	$669K	$2.3M	25x	as long as short
Gate AVAX_USDT	+0.0055%	8h	11.248	+0.080%	$12.6M	$39.9M	75x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0056%	1h	11.249	+0.089%	$911K	$8.2M	50x	as long as short
OKX AVAX-USDT-SWAP	+0.0056%	8h	11.244	+0.044%	$20.0M	$147.9M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex AVAXUSDT	+0.0058%	8h	11.240	+0.009%	$30.2M	$4.8M	50x	as long as short
MEXC AVAX_USDT	+0.0074%	8h	11.245	+0.053%	$55.3M	$109.3M	200x	as long as short
Binance AVAXUSDT	+0.0076%	8h	11.242	+0.027%	$120.7M	$537.7M	75x	as long as short
Bybit AVAXUSDT	+0.0078%	8h	11.247	+0.071%	$86.8M	$152.7M	75x	as long as short
Paradex AVAX-USD-PERP	+0.0096%	8h	11.240	+0.006%	$13K	$766	20x	as long as short
Lighter AVAX	+0.0096%	1h	11.243	+0.036%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.243	+0.036%	$9K	$701K	50x	as long as short
Aevo AVAX-PERP	+0.0096%	1h	11.241	+0.020%	$258K	—	3x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.250	+0.098%	$2.3M	$1.9M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.247	+0.069%	$299K	$122K	10x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.251	+0.107%	$16.1M	$24.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.248	+0.080%	$34.6M	$61.0M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.250	+0.098%	—	$90.3M	—	as long as short
Backpack AVAX_USDC_PERPlong	+0.0100%	1h	11.239	long leg	$333K	$560K	15x
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.240	+0.005%	$356K	$910K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.252	+0.116%	$181K	$684K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.252	+0.116%	$130K	$483K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.249	+0.089%	$202K	$302K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.271	+0.289%	$12K	$715K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.244	+0.044%	$19K	$72K	10x	as long as short
HTX AVAX-USDTshort	+0.0100%	8h	11.243	+0.037%	$361K	$1.1M	75x
BloFin AVAX-USDT	+0.0195%	8h	11.241	+0.018%	$5.0M	$8.5M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.249	+0.090%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.255	+0.142%	$4.7M	$13.7M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0405% / S −0.0245%	1h	11.249	+0.085%	$243K	—	120x	as long as short
Hyperliquid AVAX	+0.0517%	1h	11.269	+0.266%	$43.6M	$58.4M	10x	as long as short