Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.1523%/8h= −166.7% APRpaid last 24h −0.172%

Price spread now: Injective against Binance−0.246%87s7-day average −0.203% · you buy dearer than you sell

Net, funding: paid 7d − costs−$138as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1031.028% of the position

Long on Binance Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.349%−$35 on $10k

Price spread, last 3 days (all we have)+1.023%+$102 · spread now −0.246%, 7d avg −0.203%

Together, before fees+0.673%+$67 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$46 a day on $10k at the current rate, and Injective is 0.043% cheaper against Binance than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.203%). Swap the legs. The two prices were read 87 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.349% in total (about -18.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance AVAXUSDT	11.117	0.0100	pay 0.0100% / 8h	6h 29m	$118.4M	$465.5M	75x
Short	Injective AVAX/USDC PERP	11.090	−0.1423	pay 0.0178% / 1h	29m 42s	$17K	$151K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.246%Rate

Funding earned: −$319.77
Price spread: −0.246% → −0.203%: −$4.33
Slippage, 4 orders: −$92.74
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$426.86
Costs to cover: 1.028%
Break-even: never at this rate

Slippage from Binance: live order book, 14 min ago; Injective: live order book, 39 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, 14 min ago	0.45 bp	6.9 bp −$7	10.8 bp −$108	38.9 bp −$3,892	136.7 bp −$68.4K
Sell Injective live order book, 39 min ago	35.75 bp	35.8 bp −$36	doesn't fit	doesn't fit	doesn't fit

AVAX on 35 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 PERPshort	−0.1423%	1h	11.090	−0.246%	$17K	$151K	12x
Deribit AVAX_USDC-PERPETUAL	−0.0110%	1h	11.121	+0.033%	$5.2M	$8.3M	25x	as long as short
Nado AVAX-PERP	−0.0050%	1h	11.125	+0.073%	$286K	$516K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.120	+0.020%	$102K	$96K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.121	+0.034%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0066%	8h	11.119	+0.015%	$12.1M	$36.6M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.113	−0.040%	$1.2M	$3.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.126	+0.078%	$15K	$595K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.123	+0.049%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.122	+0.044%	$2.3M	$1.4M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AVAX	+0.0100%	1h	11.126	+0.081%	$295K	$107K	10x	as long as short
Binance AVAXUSDTlong	+0.0100%	8h	11.117	long leg	$118.4M	$465.5M	75x
Bybit AVAXUSDT	+0.0100%	8h	11.117	−0.003%	$88.5M	$143.9M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.117	−0.003%	$20.0M	$124.5M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.121	+0.033%	$48.7M	$82.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.126	+0.078%	$15.6M	$22.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.113	−0.039%	$33.4M	$51.6M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.118	+0.006%	—	$83.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.126	+0.078%	$356K	$536K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.127	+0.084%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.117	−0.003%	$350K	$800K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.118	+0.006%	$179K	$681K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.129	+0.105%	$131K	$363K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.128	+0.096%	$195K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.153	+0.324%	$13K	$721K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.124	+0.060%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.123	+0.055%	$361K	$939K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.124	+0.060%	$29.7M	$5.6M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.115	−0.021%	$671K	$1.7M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.122	+0.042%	$255K	—	3x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.120	+0.027%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0254%	1h	11.126	+0.074%	$4.3M	$12.1M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0288%	1h	11.127	+0.087%	$904K	$5.9M	50x	as long as short
Hyperliquid AVAX	+0.0416%	1h	11.129	+0.105%	$43.3M	$47.1M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.121	+0.032%	$236K	—	120x	as long as short