Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.019%

Price spread now: Polymarket Perps against Backpack−0.009%7-day average +0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$310.313% of the position

Long on Backpack Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.099%+$10 on $10k

Price spread, last 4 days (all we have)+0.192%+$19 · spread now −0.009%, 7d avg +0.021%

Together, before fees+0.291%+$29 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: Polymarket Perps is 0.030% cheaper against Backpack than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AVAX_USDC_PERP	10.689	0.0100	pay 0.0013% / 1h	59m 00s	$436K	$558K	15x
Short	Polymarket Perps AVAX-USD	10.688	0.0100	get 0.0013% / 1h	59m 00s	$134K	$347K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.009%Rate

Funding earned: $0
Price spread: −0.009% → +0.021%: −$3.01
Slippage, 4 orders: −$13.32
Fee Backpack: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$34.33
Costs to cover: 0.313%
Break-even: never at this rate

Slippage from Backpack: live order book, 45 min ago; Polymarket Perps: live order book, 43 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, 45 min ago	1.40 bp	11.8 bp −$12	45.8 bp −$458	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 43 min ago	2.34 bp	6.3 bp −$6	9.1 bp −$91	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
Nado AVAX-PERP	−0.0435%	1h	10.684	−0.042%	$281K	$335K	10x	as long as short
Kraken Futures PF_AVAXUSD	−0.0185%	1h	10.685	−0.039%	$3.8M	$12.0M	50x	as long as short
Variational Omni AVAX	−0.0067%	8h	10.666	−0.219%	$2.9M	$2.2M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.687	−0.014%	$91K	$111K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.687	−0.019%	$4.8M	$6.9M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.688	−0.007%	$12K	—	150x	as long as short
Gate AVAX_USDT	+0.0012%	8h	10.686	−0.028%	$12.9M	$30.4M	75x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	+0.664%	$17K	$151K	12x	as long as short
Paradex AVAX-USD-PERP	+0.0083%	8h	10.687	−0.022%	$12K	$212	20x	as long as short
Bybit AVAXUSDT	+0.0084%	8h	10.679	−0.094%	$81.4M	$143.0M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AVAX	+0.0096%	1h	10.685	−0.036%	$1.2M	$2.4M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.688	−0.009%	$25K	$472K	50x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.694	+0.047%	$37.2M	$43.6M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.690	+0.013%	$2.2M	$1.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.689	0.000%	$268K	$129K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.682	−0.068%	$112.9M	$418.6M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.679	−0.094%	$18.8M	$110.8M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.686	−0.028%	$45.7M	$78.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.684	−0.047%	$13.6M	$22.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.683	−0.056%	$32.4M	$48.4M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.686	−0.028%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERPlong	+0.0100%	1h	10.689	long leg	$436K	$558K	15x
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.669	−0.188%	$339K	$1.1M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.675	−0.131%	$172K	$661K	50x	as long as short
Polymarket Perps AVAX-USDshort	+0.0100%	1h	10.688	−0.009%	$134K	$347K	10x
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.694	+0.047%	$231K	$255K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.716	+0.253%	$11K	$769K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.685	−0.037%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.687	−0.023%	$325K	$879K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.688	−0.009%	$28.5M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.681	−0.079%	$609K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.679	−0.090%	$245K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.684	−0.047%	$4.6M	$5.5M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0224%	1h	10.693	+0.037%	$849K	$5.1M	50x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.680	−0.081%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0443% / S −0.0294%	1h	10.687	−0.016%	$225K	—	120x	as long as short