Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.110%

Price spread now: Deribit against Binance−0.404%7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$280.276% of the position

Long on Binance Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.595%−$59 on $10k

Price spread, last 4 days (all we have)+0.242%+$24 · spread now −0.404%, 7d avg −0.027%

Together, before fees−0.353%−$35 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.377% cheaper against Binance than usual: you would sell low and buy high (−$38 if the spread goes back to its 7-day average of −0.027%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance AVAXUSDT	10.627	0.0100	pay 0.0100% / 8h	2h 37m	$112.6M	$430.6M	75x
Short	Deribit AVAX_USDC-PERPETUAL	10.584	0	get 0.0000% / 1h	37m 52s	$4.7M	$7.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.404%Rate

Funding earned: −$21
Price spread: −0.404% → −0.027%: −$37.75
Slippage, 4 orders: −$10.57
Fee Binance: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$86.32
Costs to cover: 0.276%
Break-even: never at this rate

Slippage from Binance: live order book, 6 min ago; Deribit: live order book, 1 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, 6 min ago	0.47 bp	6.0 bp −$6	14.8 bp −$148	54.7 bp −$5,474	180.6 bp −$90.3K
Sell Deribit live order book, 1 min ago	0.95 bp	7.8 bp −$8	159.2 bp −$1,592	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	10.760	+1.252%	$17K	$152K	12x	as long as short
Kraken Futures PF_AVAXUSD	−0.0282%	1h	10.588	−0.365%	$4.2M	$11.4M	50x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.580	−0.445%	$92K	$101K	10x	as long as short
Deribit AVAX_USDC-PERPETUALshort	0.0000%	1h	10.584	−0.404%	$4.7M	$7.5M	25x
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.585	−0.390%	$12K	—	150x	as long as short
Nado AVAX-PERP	+0.0006%	1h	10.574	−0.494%	$293K	$335K	10x	as long as short
Variational Omni AVAX	+0.0016%	8h	10.570	−0.537%	$2.8M	$2.2M	—	as long as short
Gate AVAX_USDT	+0.0023%	8h	10.614	−0.122%	$12.1M	$32.3M	75x	as long as short
Polymarket Perps AVAX-USD	+0.0050%	1h	10.582	−0.423%	$132K	$355K	10x	as long as short
Paradex AVAX-USD-PERP	+0.0096%	8h	10.579	−0.450%	$12K	$212	20x	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	10.586	−0.385%	$1.2M	$2.6M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.581	−0.433%	$15K	$445K	50x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.601	−0.244%	$38.1M	$43.3M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.617	−0.094%	$2.1M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.582	−0.423%	$266K	$130K	10x	as long as short
Binance AVAXUSDTlong	+0.0100%	8h	10.627	long leg	$112.6M	$430.6M	75x
Bybit AVAXUSDT	+0.0100%	8h	10.622	−0.047%	$78.9M	$144.2M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.622	−0.047%	$18.6M	$112.0M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.625	−0.018%	$41.9M	$79.4M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.619	−0.075%	$13.3M	$22.7M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.616	−0.103%	$31.7M	$49.2M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.627	0.000%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.594	−0.310%	$373K	$535K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.586	−0.388%	$335K	$957K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.587	−0.376%	$171K	$663K	50x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.587	−0.376%	$167K	$339K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.612	−0.138%	$12K	$749K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.583	−0.414%	$17K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.579	−0.447%	$341K	$793K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.586	−0.385%	$28.2M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.614	−0.120%	$638K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.580	−0.442%	$243K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0216%	1h	10.588	−0.367%	$841K	$4.8M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.575	−0.489%	$4.6M	$5.5M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	10.578	−0.456%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0263%	1h	10.584	−0.403%	$234K	—	120x	as long as short