AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0150%/8h= −16.5% APRnext payment −$0.19 per $10,000 · paid last 24h −0.002%

Price spread now: Nado against Backpack+0.067%7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$340.337% of the position

Long on Backpack Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.022%+$2 on $10k

Price spread, last 4 days (all we have)+0.822%+$82 · spread now +0.067%, 7d avg −0.005%

Together, before fees+0.844%+ Points / potential airdropNado: Active · farm board+$84 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Nado is 0.072% dearer against Backpack than usual: you sell high and buy low (spread +0.067% now, against its 7-day average of −0.005%): +$7 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 38 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AVAX_USDC_PERP	11.118	0.0100	pay 0.0013% / 1h	30m 35s	$355K	$545K	15x
Short	Nado AVAX-PERP	11.125	−0.0050	pay 0.0006% / 1h	30m 35s	$286K	$516K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.067%Rate

Funding earned: −$31.56
Price spread: +0.067% → −0.005%: $7.2
Slippage, 4 orders: −$16.68
Fee Backpack: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$58.04
Costs to cover: 0.337%
Break-even: never at this rate

Slippage from Backpack: live order book, 38 min ago; Nado: live order book, 38 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, 38 min ago	0.45 bp	8.9 bp −$9	36.7 bp −$367	doesn't fit	doesn't fit
Sell Nado live order book, 38 min ago	0.89 bp	7.5 bp −$7	15.1 bp −$151	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	11.090	−0.252%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0110%	1h	11.115	−0.027%	$5.2M	$8.3M	25x	as long as short
Nado AVAX-PERPshort	−0.0050%	1h	11.125	+0.067%	$286K	$516K	10x
dYdX AVAX-USD	0.0000%	1h	11.120	+0.014%	$102K	$96K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.119	+0.010%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0066%	8h	11.121	+0.027%	$12.1M	$36.6M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.120	+0.014%	$1.2M	$3.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.126	+0.072%	$15K	$595K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.123	+0.043%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.121	+0.030%	$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	11.126	+0.075%	$295K	$107K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.126	+0.072%	$118.5M	$465.4M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.125	+0.063%	$88.6M	$145.1M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.127	+0.081%	$20.0M	$124.6M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.121	+0.027%	$48.7M	$82.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.125	+0.063%	$15.6M	$22.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.124	+0.054%	$33.4M	$51.6M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.122	+0.036%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERPlong	+0.0100%	1h	11.118	long leg	$355K	$545K	15x
Variational Omni AVAX	+0.0100%	8h	11.127	+0.079%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.117	−0.009%	$350K	$800K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.118	0.000%	$179K	$681K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.129	+0.099%	$131K	$363K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.123	+0.045%	$195K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.145	+0.239%	$12K	$721K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.116	−0.018%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.112	−0.055%	$361K	$939K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.116	−0.018%	$29.7M	$5.6M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.118	−0.004%	$671K	$2.0M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.112	−0.054%	$255K	—	3x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.120	+0.021%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.119	+0.009%	$4.3M	$12.1M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0288%	1h	11.129	+0.099%	$904K	$5.9M	50x	as long as short
Hyperliquid AVAX	+0.0424%	1h	11.133	+0.135%	$43.4M	$47.0M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.119	+0.007%	$236K	—	120x	as long as short