Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.017%

Price spread now: KuCoin against Backpack+0.027%7-day average −0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$450.455% of the position

Long on Backpack Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.049%+$5 on $10k

Price spread, last 4 days (all we have)−0.006%−$1 · spread now +0.027%, 7d avg −0.017%

Together, before fees+0.043%+$4 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: KuCoin is 0.044% dearer against Backpack than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AVAX_USDC_PERP	11.121	0.0100	pay 0.0013% / 1h	27m 03s	$356K	$535K	15x
Short	KuCoin AVAXUSDTM	11.124	0.0100	get 0.0100% / 8h	6h 27m	$15.6M	$22.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.027%Rate

Funding earned: $0
Price spread: +0.027% → −0.017%: $4.44
Slippage, 4 orders: −$23.49
Fee Backpack: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$41.06
Costs to cover: 0.455%
Break-even: never at this rate

Slippage from Backpack: live order book, 42 min ago; KuCoin: live order book, 7 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, 42 min ago	0.45 bp	8.9 bp −$9	36.7 bp −$367	doesn't fit	doesn't fit
Sell KuCoin live order book, 7 min ago	0.90 bp	15.5 bp −$15	29.5 bp −$295	doesn't fit	doesn't fit

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	11.080	−0.369%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0049%	1h	11.117	−0.036%	$286K	$509K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0020%	1h	11.115	−0.054%	$5.2M	$8.3M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.117	−0.035%	$102K	$96K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.120	−0.008%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0048%	8h	11.115	−0.054%	$12.1M	$36.6M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.117	−0.036%	$1.2M	$3.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.118	−0.027%	$15K	$595K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.115	−0.050%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.116	−0.042%	$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	11.122	+0.009%	$295K	$107K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.118	−0.027%	$118.6M	$460.5M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.118	−0.027%	$88.6M	$143.6M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.117	−0.036%	$20.0M	$124.1M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.118	−0.027%	$48.8M	$82.7M	200x	as long as short
KuCoin AVAXUSDTMshort	+0.0100%	8h	11.124	+0.027%	$15.6M	$22.6M	75x
Bitget AVAXUSDT	+0.0100%	8h	11.116	−0.045%	$33.4M	$51.4M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.118	−0.027%	—	$83.4M	—	as long as short
Backpack AVAX_USDC_PERPlong	+0.0100%	1h	11.121	long leg	$356K	$535K	15x
Variational Omni AVAX	+0.0100%	8h	11.127	+0.052%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.106	−0.135%	$354K	$810K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.110	−0.099%	$179K	$677K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.124	+0.027%	$131K	$363K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.124	+0.027%	$195K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.146	+0.220%	$12K	$718K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.117	−0.036%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.118	−0.022%	$361K	$939K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.119	−0.018%	$29.7M	$5.6M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.114	−0.066%	$671K	$1.7M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.120	−0.011%	$255K	—	3x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.120	−0.011%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.119	−0.018%	$4.3M	$11.9M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0288%	1h	11.120	−0.009%	$903K	$5.9M	50x	as long as short
Hyperliquid AVAX	+0.0407%	1h	11.133	+0.108%	$43.3M	$47.1M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.120	−0.006%	$236K	—	120x	as long as short