Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.007%

Price spread now: Backpack against Binance−0.024%7-day average +0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$280.278% of the position

Long on Binance Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.117%−$12 on $10k

Price spread, last 4 days (all we have)−0.011%−$1 · spread now −0.024%, 7d avg +0.015%

Together, before fees−0.128%−$13 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: Backpack is 0.039% cheaper against Binance than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance AVAXUSDT	11.351	0.0100	pay 0.0100% / 8h	1h 55m	$121.8M	$533.5M	75x
Short	Backpack AVAX_USDC_PERP	11.348	0.0100	get 0.0013% / 1h	55m 47s	$342K	$564K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Binance. 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 BinancebpFee BackpackbpOrdersPrice spread, now −0.024%Rate

Funding earned: $0
Price spread: −0.024% → +0.015%: −$3.87
Slippage, 4 orders: −$7.84
Fee Binance: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$31.7
Costs to cover: 0.278%
Break-even: never at this rate

Slippage from Binance: live order book, 3 min ago; Backpack: live order book, 28 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 Binance live order book, 3 min ago	0.44 bp	6.4 bp −$6	10.9 bp −$109	39.6 bp −$3,959	125.3 bp −$62.7K
Sell Backpack live order book, 28 min ago	0.44 bp	5.4 bp −$5	26.1 bp −$261	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	−0.0570%	1h	11.280	−0.623%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0066%	1h	11.344	−0.059%	$299K	$958K	10x	as long as short
Variational Omni AVAX	−0.0065%	8h	11.332	−0.165%	$3.0M	$2.2M	—	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0014%	1h	11.345	−0.050%	$5.4M	$9.2M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.347	−0.032%	$100K	$107K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0004%	1h	11.346	−0.039%	$16K	—	150x	as long as short
Gate AVAX_USDT	+0.0086%	8h	11.350	−0.006%	$12.7M	$39.2M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.346	−0.039%	$1.3M	$3.2M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.344	−0.059%	$13K	$704K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0098%	8h	11.341	−0.083%	$13K	$766	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster AVAXUSDT	+0.0100%	8h	11.348	−0.024%	$2.3M	$1.9M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.346	−0.044%	$301K	$121K	10x	as long as short
Binance AVAXUSDTlong	+0.0100%	8h	11.351	long leg	$121.8M	$533.5M	75x
Bybit AVAXUSDT	+0.0100%	8h	11.350	−0.006%	$91.3M	$155.7M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.351	+0.003%	$20.5M	$148.7M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.347	−0.032%	$54.7M	$99.1M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.352	+0.012%	$16.3M	$24.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.350	−0.006%	$34.9M	$60.5M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.350	−0.006%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERPshort	+0.0100%	1h	11.348	−0.024%	$342K	$564K	15x
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.331	−0.175%	$358K	$895K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.333	−0.156%	$186K	$684K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.348	−0.024%	$135K	$466K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.355	+0.038%	$204K	$301K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.374	+0.208%	$12K	$724K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.345	−0.050%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.341	−0.090%	$366K	$1.1M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.346	−0.041%	$30.5M	$5.0M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.347	−0.035%	$676K	$2.2M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.342	−0.072%	$261K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0192%	1h	11.343	−0.068%	$995K	$8.3M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.332	−0.165%	$5.0M	$8.5M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.342	−0.081%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0405% / S −0.0245%	1h	11.345	−0.052%	$245K	—	120x	as long as short
Hyperliquid AVAX	+0.0552%	1h	11.362	+0.100%	$44.2M	$58.9M	10x	as long as short
Kraken Futures PF_AVAXUSD	+0.0623%	1h	11.352	+0.010%	$4.6M	$13.5M	50x	as long as short