AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0156%/8h= −17.1% APRnext payment −$0.19 per $10,000 · paid last 24h +0.017%

Price spread now: Kraken Futures against Backpack−0.063%51s7-day average +0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as 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−$420.419% of the position

Long on Backpack Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.025%+$2 on $10k

Price spread, last 4 days (all we have)−0.127%−$13 · spread now −0.063%, 7d avg +0.026%

Together, before fees−0.102%−$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Kraken Futures is 0.089% cheaper against Backpack than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.026%). Swap the legs. The two prices were read 51 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	10.906	0.0100	pay 0.0013% / 1h	58m 19s	$440K	$527K	15x
Short	Kraken Futures PF_AVAXUSD	10.899	−0.0056	pay 0.0007% / 1h	58m 19s	$3.8M	$11.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.063%Rate

Funding earned: −$32.74
Price spread: −0.063% → +0.026%: −$8.94
Slippage, 4 orders: −$21.91
Fee Backpack: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$83.59
Costs to cover: 0.419%
Break-even: never at this rate

Slippage from Backpack: live order book, 53 min ago; Kraken Futures: live order book, 4 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, 53 min ago	0.46 bp	11.5 bp −$11	43.3 bp −$433	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 4 min ago	1.83 bp	11.3 bp −$11	18.7 bp −$187	51.4 bp −$5,142	doesn't fit

AVAX on 36 exchanges

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	−0.0139%	8h	10.909	+0.027%	$3.1M	$2.1M	—	as long as short
SoDEX AVAX-USD	−0.0131%	1h	10.895	−0.101%	$19K	$68K	10x	as long as short
Gate AVAX_USDT	−0.0099%	8h	10.900	−0.055%	$14.6M	$26.6M	75x	as long as short
Kraken Futures PF_AVAXUSDshort	−0.0056%	1h	10.899	−0.063%	$3.8M	$11.0M	50x
Bybit AVAXUSDT	−0.0036%	8h	10.896	−0.092%	$85.0M	$132.8M	75x	as long as short
Phemex AVAXUSDT	−0.0023%	8h	10.911	+0.046%	$29.1M	$5.6M	50x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.915	+0.086%	$93K	$100K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.900	−0.055%	$5.0M	$6.7M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0002%	1h	10.921	+0.133%	$23K	—	150x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	−1.339%	$17K	$151K	12x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado AVAX-PERP	+0.0047%	1h	10.902	−0.037%	$277K	$302K	10x	as long as short
Lighter AVAX	+0.0096%	1h	10.906	+0.002%	$1.2M	$1.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.898	−0.073%	$23K	$441K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0099%	8h	10.900	−0.059%	$12K	$62	20x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.914	+0.073%	$36.3M	$38.1M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.900	−0.055%	$2.3M	$1.3M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.907	+0.009%	$274K	$122K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.898	−0.073%	$115.1M	$375.9M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.897	−0.083%	$19.4M	$103.3M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.896	−0.092%	$53.8M	$69.0M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.901	−0.046%	$14.3M	$19.1M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.896	−0.092%	$33.1M	$43.9M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.898	−0.073%	—	$52.3M	—	as long as short
Backpack AVAX_USDC_PERPlong	+0.0100%	1h	10.906	long leg	$440K	$527K	15x
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.913	+0.063%	$350K	$1.5M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.917	+0.101%	$175K	$660K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.898	−0.073%	$138K	$247K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.907	+0.009%	$236K	$217K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.928	+0.198%	$11K	$774K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.910	+0.039%	$327K	$948K	75x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.890	−0.143%	$618K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.902	−0.041%	$250K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0208%	1h	10.924	+0.165%	$863K	$5.1M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.902	−0.037%	$4.8M	$5.2M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.892	−0.130%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0294%	1h	10.912	+0.052%	$230K	—	120x	as long as short