Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.022%

Price spread now: SunX against Backpack−0.020%7-day average +0.251% · you buy dearer than you sell

Net, funding: paid 7d − costs−$157as in the Funding arb table

Net, price: spread back to 7d avg − costs−$201as in the Price arb table

costs, in and out, $10k−$1741.737% of the position

Long on Backpack Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.165%+$17 on $10k

Price spread, last 3 days (all we have)+0.188%+$19 · spread now −0.020%, 7d avg +0.251%

Together, before fees+0.354%+$35 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: SunX is 0.271% cheaper against Backpack than usual: you would sell low and buy high, −$27 on $10k if it goes back to its 7-day average of +0.251%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AVAX_USDC_PERP	11.178	0.0100	pay 0.0013% / 1h	18m 00s	$357K	$551K	15x
Short	SunX AVAX-USDT	11.176	0.0100	get 0.0100% / 8h	7h 18m	$12K	$719K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.020%Rate

Funding earned: $0
Price spread: −0.020% → +0.251%: −$27.08
Slippage, 4 orders: −$155.7
Fee Backpack: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$200.78
Costs to cover: 1.737%
Break-even: never at this rate

Slippage from Backpack: live order book, 56 min ago; SunX: live order book, 34 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, 56 min ago	0.44 bp	7.8 bp −$8	35.0 bp −$350	doesn't fit	doesn't fit
Sell SunX live order book, 34 min ago	41.89 bp	102.0 bp −$102	doesn't fit	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	−0.1363%	1h	11.120	−0.519%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0108%	1h	11.167	−0.098%	$5.3M	$8.5M	25x	as long as short
Nado AVAX-PERP	−0.0051%	1h	11.153	−0.219%	$292K	$780K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.147	−0.279%	$103K	$105K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.166	−0.108%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.171	−0.063%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.146	−0.286%	$16K	$611K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.156	−0.197%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.167	−0.099%	$2.3M	$1.6M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.150	−0.250%	$296K	$100K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AVAXUSDT	+0.0100%	8h	11.175	−0.028%	$119.3M	$478.5M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.174	−0.036%	$89.0M	$147.9M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.175	−0.027%	$20.0M	$131.4M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.176	−0.018%	$12.2M	$38.2M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.177	−0.009%	$48.8M	$88.9M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.171	−0.063%	$15.3M	$23.1M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.177	−0.009%	$33.9M	$53.7M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.176	−0.018%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERPlong	+0.0100%	1h	11.178	long leg	$357K	$551K	15x
Variational Omni AVAX	+0.0100%	8h	11.163	−0.137%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.159	−0.169%	$352K	$847K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.163	−0.134%	$179K	$688K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.160	−0.161%	$131K	$372K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.174	−0.036%	$196K	$313K	20x	as long as short
SunX AVAX-USDTshort	+0.0100%	8h	11.176	−0.020%	$12K	$719K	20x
SoDEX AVAX-USD	+0.0100%	1h	11.169	−0.081%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.163	−0.132%	$362K	$945K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.173	−0.045%	$29.9M	$5.2M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.171	−0.061%	$671K	$2.0M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.164	−0.125%	$256K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0215%	1h	11.177	−0.011%	$4.3M	$12.5M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.147	−0.277%	$5.0M	$6.2M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.155	−0.207%	$1K	—	20x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0304%	1h	11.155	−0.206%	$921K	$6.6M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0298%	1h	11.164	−0.128%	$236K	—	120x	as long as short
Hyperliquid AVAX	+0.0691%	1h	11.192	+0.125%	$43.7M	$49.5M	10x	as long as short