Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.009%

Price spread now: Lighter against Binance−0.144%7-day average −0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$180.183% of the position

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.113%−$11 on $10k

Price spread, last 7 days−0.007%−$1 · spread now −0.144%, 7d avg −0.037%

Together, before fees−0.120%+ Points / potential airdropLighter: Season 3 · farm board−$12 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: Lighter is 0.107% cheaper against Binance than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of −0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance AVAXUSDT	11.123	0.0100	pay 0.0100% / 8h	4h 47m	$118.3M	$427.5M	75x
Short	Lighter AVAX	11.107	0.0096	get 0.0012% / 1h	47m 25s	$1.2M	$2.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.144%Rate

Funding earned: −$0.84
Price spread: −0.144% → −0.037%: −$10.69
Slippage, 4 orders: −$8.31
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$29.84
Costs to cover: 0.183%
Break-even: never at this rate

Slippage from Binance: live order book, 11 min ago; Lighter: live order book, 5 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, 11 min ago	0.45 bp	6.1 bp −$6	10.8 bp −$108	51.1 bp −$5,106	158.3 bp −$79.1K
Sell Lighter live order book, 5 min ago	2.61 bp	2.9 bp −$3	9.5 bp −$95	79.7 bp −$7,970	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	11.030	−0.839%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0020%	1h	11.104	−0.173%	$5.2M	$7.9M	25x	as long as short
Nado AVAX-PERP	−0.0012%	1h	11.117	−0.056%	$286K	$394K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.111	−0.115%	$97K	$97K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.121	−0.021%	$13K	—	150x	as long as short
Lighter AVAXshort	+0.0096%	1h	11.107	−0.144%	$1.2M	$2.9M	10x
Popdex AVAXUSDT	+0.0096%	1h	11.122	−0.012%	$16K	$582K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.114	−0.084%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.124	+0.004%	$2.3M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.116	−0.062%	$290K	$114K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AVAXUSDTlong	+0.0100%	8h	11.123	long leg	$118.3M	$427.5M	75x
Bybit AVAXUSDT	+0.0100%	8h	11.118	−0.048%	$88.4M	$137.6M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.119	−0.039%	$20.3M	$116.1M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.122	−0.012%	$12.2M	$34.0M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.123	−0.003%	$48.2M	$77.5M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.128	+0.042%	$15.8M	$21.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.118	−0.048%	$33.4M	$48.1M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.122	−0.012%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.108	−0.137%	$336K	$524K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.091	−0.294%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.100	−0.209%	$354K	$835K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.100	−0.209%	$178K	$673K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.127	+0.033%	$130K	$349K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.125	+0.015%	$195K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.136	+0.111%	$12K	$703K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.106	−0.155%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.089	−0.307%	$365K	$829K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.107	−0.146%	$29.7M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.118	−0.052%	$680K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.114	−0.088%	$255K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0212%	1h	11.109	−0.129%	$4.3M	$11.3M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.099	−0.218%	$5.1M	$5.4M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.117	−0.056%	$890K	$5.3M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.122	−0.014%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.120	−0.026%	$236K	—	120x	as long as short
Hyperliquid AVAX	+0.0668%	1h	11.138	+0.132%	$43.4M	$42.3M	10x	as long as short