Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.022%

Price spread now: Pacifica against Backpack−0.013%7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$430.430% of the position

Long on Backpack Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.159%+$16 on $10k

Price spread, last 4 days (all we have)+0.055%+$6 · spread now −0.013%, 7d avg −0.012%

Together, before fees+0.214%+ Points / potential airdropPacifica: Active · farm board+$21 on $10k · with fees, hour by hour

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	55m 03s	$329K	$521K	15x
Short	Pacifica AVAX	11.117	0.0100	get 0.0013% / 1h	55m 03s	$290K	$114K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.013%Rate

Funding earned: $0
Price spread: −0.013% → −0.012%: −$0.15
Slippage, 4 orders: −$24.96
Fee Backpack: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$43.1
Costs to cover: 0.430%
Break-even: never at this rate

Slippage from Backpack: live order book, 4 min ago; Pacifica: 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, 4 min ago	1.80 bp	10.6 bp −$11	55.5 bp −$555	doesn't fit	doesn't fit
Sell Pacifica live order book, 3 min ago	5.39 bp	13.2 bp −$13	23.9 bp −$239	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
Injective AVAX/USDC PERP	−0.1423%	1h	11.070	−0.432%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0110%	1h	11.114	−0.036%	$5.2M	$7.9M	25x	as long as short
ApeX Omni AVAXUSDT	−0.0082%	1h	11.122	+0.036%	$179K	$673K	50x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.112	−0.052%	$97K	$97K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.117	−0.013%	$13K	—	150x	as long as short
Nado AVAX-PERP	+0.0006%	1h	11.113	−0.047%	$286K	$395K	10x	as long as short
Lighter AVAX	+0.0096%	1h	11.117	−0.013%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.116	−0.018%	$16K	$582K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.106	−0.104%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.119	+0.007%	$2.3M	$1.1M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AVAXshort	+0.0100%	1h	11.117	−0.013%	$290K	$114K	10x
Binance AVAXUSDT	+0.0100%	8h	11.121	+0.027%	$118.4M	$429.0M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.119	+0.009%	$88.5M	$137.6M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.121	+0.027%	$20.3M	$116.3M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.120	+0.018%	$12.1M	$33.9M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.115	−0.027%	$48.4M	$77.4M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.123	+0.045%	$15.8M	$21.7M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.114	−0.036%	$33.4M	$48.3M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.116	−0.018%	—	$80.6M	—	as long as short
Backpack AVAX_USDC_PERPlong	+0.0100%	1h	11.118	long leg	$329K	$521K	15x
Variational Omni AVAX	+0.0100%	8h	11.148	+0.267%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.117	−0.005%	$355K	$835K	10x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.115	−0.027%	$130K	$349K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.124	+0.054%	$195K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.146	+0.255%	$12K	$703K	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	11.102	−0.140%	$365K	$856K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.117	−0.009%	$29.7M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.112	−0.053%	$680K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.114	−0.031%	$255K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0212%	1h	11.119	+0.008%	$4.3M	$11.3M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.116	−0.018%	$5.1M	$5.4M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.124	+0.054%	$892K	$5.3M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.109	−0.079%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.114	−0.033%	$236K	—	120x	as long as short
Hyperliquid AVAX	+0.0716%	1h	11.134	+0.144%	$43.4M	$42.5M	10x	as long as short