Funding arb · Price arb /

AVAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.5% APRpaid last 24h +0.014%

Price spread now: Paradex against Backpack+0.135%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Backpack Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Paradex is 0.135% dearer against Backpack than usual: you sell high and buy low, +$13 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AVAX_USDC_PERP	11.230	0.0100	pay 0.0013% / 1h	35m 35s	$333K	$559K	15x
Short	Paradex AVAX-USD-PERP	11.245	0.0096	get 0.0096% / 8h	2h 35m	$13K	$766	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.135%Rate

Funding earned: −$0.91
Price spread: +0.135% → 0.000%: $13.49
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$1.42
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 53 min ago; Paradex: no order-book sample. Net counts fees only.

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	1.36 bp	9.9 bp −$10	36.8 bp −$368	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Deribit AVAX_USDC-PERPETUAL	−0.0195%	1h	11.224	−0.053%	$5.3M	$9.4M	25x	as long as short
Variational Omni AVAX	−0.0169%	8h	11.174	−0.503%	$2.9M	$2.1M	—	as long as short
Nado AVAX-PERP	−0.0113%	1h	11.238	+0.071%	$297K	$956K	10x	as long as short
Injective AVAX/USDC PERP	−0.0043%	1h	11.100	−1.158%	$17K	$127K	12x	as long as short
Extended AVAX-USD	−0.0008%	1h	11.241	+0.096%	$669K	$2.3M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.249	+0.165%	$99K	$115K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.226	−0.037%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0047%	8h	11.245	+0.134%	$12.6M	$39.9M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0054%	8h	11.239	+0.080%	$20.0M	$147.8M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0056%	1h	11.246	+0.142%	$915K	$8.2M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex AVAXUSDT	+0.0064%	8h	11.224	−0.053%	$30.1M	$4.8M	50x	as long as short
Bybit AVAXUSDT	+0.0070%	8h	11.246	+0.142%	$86.7M	$152.3M	75x	as long as short
MEXC AVAX_USDT	+0.0073%	8h	11.238	+0.071%	$53.5M	$109.1M	200x	as long as short
Binance AVAXUSDT	+0.0073%	8h	11.244	+0.125%	$120.7M	$537.6M	75x	as long as short
Paradex AVAX-USD-PERPshort	+0.0096%	8h	11.245	+0.135%	$13K	$766	20x
Lighter AVAX	+0.0096%	1h	11.246	+0.139%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.244	+0.125%	$9K	$701K	50x	as long as short
Aevo AVAX-PERP	+0.0096%	1h	11.220	−0.093%	$258K	—	3x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.246	+0.140%	$2.3M	$1.9M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.247	+0.153%	$299K	$122K	10x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.249	+0.169%	$16.1M	$24.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.243	+0.116%	$34.6M	$61.2M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.243	+0.116%	—	$90.3M	—	as long as short
Backpack AVAX_USDC_PERPlong	+0.0100%	1h	11.230	long leg	$333K	$559K	15x
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.243	+0.117%	$356K	$910K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.252	+0.196%	$181K	$684K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.247	+0.151%	$130K	$482K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.233	+0.027%	$202K	$302K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.253	+0.208%	$12K	$715K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.223	−0.062%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.223	−0.067%	$360K	$1.1M	75x	as long as short
BloFin AVAX-USDT	+0.0190%	8h	11.229	−0.009%	$5.0M	$8.5M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.239	+0.077%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0256%	1h	11.233	+0.027%	$4.7M	$13.7M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0405% / S −0.0244%	1h	11.227	−0.029%	$242K	—	120x	as long as short
Hyperliquid AVAX	+0.0475%	1h	11.263	+0.294%	$43.4M	$58.3M	10x	as long as short