AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h +0.014%

Price spread now: Lighter against Backpack−0.013%7-day average −0.042% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$220.221% of the position

Long on Backpack Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.020%−$2 on $10k

Price spread, last 4 days (all we have)+0.040%+$4 · spread now −0.013%, 7d avg −0.042%

Together, before fees+0.020%+ Points / potential airdropLighter: Season 3 · farm board+$2 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: Lighter is 0.029% dearer against Backpack than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.042%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AVAX_USDC_PERP	11.229	0.0100	pay 0.0013% / 1h	9m 02s	$359K	$563K	15x
Short	Lighter AVAX	11.227	0.0096	get 0.0012% / 1h	9m 02s	$1.2M	$3.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.013%Rate

Funding earned: −$0.84
Price spread: −0.013% → −0.042%: $2.85
Slippage, 4 orders: −$12.07
Fee Backpack: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$20.05
Costs to cover: 0.221%
Break-even: never at this rate

Slippage from Backpack: live order book, 5 min ago; Lighter: live order book, 3 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, 5 min ago	0.44 bp	7.8 bp −$8	35.0 bp −$350	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	1.78 bp	2.0 bp −$2	9.4 bp −$94	83.2 bp −$8,318	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	−0.1451%	1h	11.180	−0.436%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0098%	1h	11.223	−0.049%	$296K	$877K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0017%	1h	11.228	−0.009%	$5.3M	$8.9M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.229	−0.003%	$103K	$106K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.231	+0.017%	$13K	—	150x	as long as short
Lighter AVAXshort	+0.0096%	1h	11.227	−0.013%	$1.2M	$3.3M	10x
Popdex AVAXUSDT	+0.0096%	1h	11.224	−0.045%	$18K	$663K	50x	as long as short
Variational Omni AVAX	+0.0099%	8h	11.203	−0.233%	$3.0M	$2.4M	—	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.222	−0.064%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.226	−0.023%	$2.3M	$1.7M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AVAX	+0.0100%	1h	11.228	−0.005%	$298K	$118K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.229	0.000%	$120.3M	$510.7M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.229	0.000%	$89.5M	$154.8M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.228	−0.009%	$20.3M	$143.3M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.226	−0.027%	$12.5M	$40.4M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.225	−0.036%	$50.1M	$93.6M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.233	+0.036%	$15.6M	$24.1M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.231	+0.018%	$34.2M	$57.7M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.229	0.000%	—	$6.6M	—	as long as short
Backpack AVAX_USDC_PERPlong	+0.0100%	1h	11.229	long leg	$359K	$563K	15x
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.213	−0.142%	$351K	$862K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.226	−0.027%	$180K	$686K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.231	+0.018%	$132K	$440K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.238	+0.080%	$204K	$303K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.260	+0.275%	$12K	$735K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.225	−0.036%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.222	−0.067%	$363K	$1.0M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.227	−0.018%	$30.2M	$4.9M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.226	−0.024%	$669K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.226	−0.031%	$258K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.218	−0.098%	$5.0M	$7.1M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.228	−0.009%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0270%	1h	11.230	+0.011%	$4.6M	$13.0M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0280%	1h	11.217	−0.107%	$913K	$7.7M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0431% / S −0.0253%	1h	11.232	+0.026%	$250K	—	120x	as long as short
Hyperliquid AVAX	+0.0783%	1h	11.240	+0.098%	$43.5M	$54.8M	10x	as long as short