AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0143%/8h= −15.6% APRnext payment −$0.18 per $10,000 · paid last 24h −0.145%

Price spread now: Injective against Backpack−0.706%7-day average −0.209% · you buy dearer than you sell

Net, funding: paid 7d − costs−$123as in the Funding arb table

Net, price: spread back to 7d avg − costs−$154as in the Price arb table

costs, in and out, $10k−$1041.041% of the position

Long on Backpack Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.188%−$19 on $10k

Price spread, last 3 days (all we have)+1.457%+$146 · spread now −0.706%, 7d avg −0.209%

Together, before fees+1.269%+$127 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Injective is 0.497% cheaper against Backpack than usual: you would sell low and buy high (−$50 if the spread goes back to its 7-day average of −0.209%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AVAX_USDC_PERP	11.330	0.0100	pay 0.0013% / 1h	14m 28s	$339K	$564K	15x
Short	Injective AVAX/USDC PERP	11.250	−0.0043	pay 0.0005% / 1h	14m 28s	$17K	$152K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.706%Rate

Funding earned: −$29.96
Price spread: −0.706% → −0.209%: −$49.71
Slippage, 4 orders: −$94.11
Fee Backpack: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$183.8
Costs to cover: 1.041%
Break-even: never at this rate

Slippage from Backpack: live order book, 9 min ago; Injective: 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, 9 min ago	0.44 bp	10.3 bp −$10	35.3 bp −$353	doesn't fit	doesn't fit
Sell Injective live order book, 9 min ago	35.37 bp	35.4 bp −$35	doesn't fit	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	−0.0102%	8h	11.280	−0.441%	$2.9M	$2.1M	—	as long as short
Nado AVAX-PERP	−0.0082%	1h	11.309	−0.185%	$298K	$960K	10x	as long as short
Injective AVAX/USDC PERPshort	−0.0043%	1h	11.250	−0.706%	$17K	$152K	12x
Deribit AVAX_USDC-PERPETUAL	−0.0015%	1h	11.311	−0.168%	$5.4M	$9.4M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.313	−0.150%	$99K	$115K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0004%	1h	11.302	−0.251%	$16K	—	150x	as long as short
Gate AVAX_USDT	+0.0053%	8h	11.313	−0.150%	$12.7M	$40.3M	75x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0056%	1h	11.325	−0.044%	$918K	$8.2M	50x	as long as short
OKX AVAX-USDT-SWAP	+0.0078%	8h	11.315	−0.132%	$20.3M	$149.2M	50x	as long as short
Extended AVAX-USD	+0.0080%	1h	11.313	−0.147%	$676K	$2.2M	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex AVAXUSDT	+0.0089%	8h	11.328	−0.018%	$30.3M	$4.9M	50x	as long as short
MEXC AVAX_USDT	+0.0092%	8h	11.316	−0.124%	$55.5M	$110.2M	200x	as long as short
Binance AVAXUSDT	+0.0096%	8h	11.317	−0.115%	$121.3M	$537.8M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.311	−0.170%	$1.3M	$3.2M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.314	−0.141%	$10K	$704K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0097%	8h	11.309	−0.182%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.313	−0.150%	$2.3M	$1.9M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.313	−0.146%	$301K	$121K	10x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.318	−0.106%	$90.7M	$155.8M	75x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.313	−0.150%	$16.2M	$24.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.315	−0.132%	$34.9M	$61.2M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.317	−0.115%	—	$90.1M	—	as long as short
Backpack AVAX_USDC_PERPlong	+0.0100%	1h	11.330	long leg	$339K	$564K	15x
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.288	−0.371%	$357K	$909K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.290	−0.353%	$182K	$681K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.296	−0.300%	$131K	$480K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.306	−0.212%	$203K	$302K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.322	−0.066%	$12K	$720K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.337	+0.062%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.297	−0.287%	$363K	$1.1M	75x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.300	−0.268%	$260K	—	3x	as long as short
BloFin AVAX-USDT	+0.0213%	8h	11.335	+0.044%	$5.1M	$8.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.292	−0.334%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0253%	1h	11.346	+0.137%	$4.6M	$13.6M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0405% / S −0.0245%	1h	11.298	−0.280%	$244K	—	120x	as long as short
Hyperliquid AVAX	+0.0658%	1h	11.326	−0.035%	$44.0M	$58.9M	10x	as long as short