Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0044%/8h= −4.8% APRpaid last 24h +0.020%

Price spread now: Coinbase International against BingX+0.151%7-day average +0.089% · you sell dearer than you buy

Net, funding: paid 7d − costs−$18as in the Funding arb table

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

costs, in and out, $10k−$350.352% of the position

Long on BingX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.173%+$17 on $10k

Price spread, last 3 days (all we have)−0.623%−$62 · spread now +0.151%, 7d avg +0.089%

Together, before fees−0.450%−$45 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.063% dearer against BingX than usual: you sell high and buy low (spread +0.151% now, against its 7-day average of +0.089%): +$6 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.8 days. Mind the row above: over the last 7 days funding on this pair paid +0.173%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX AVAX-USDT	11.229	0.0100	pay 0.0100% / 8h	2h 36m	—	$90.3M	—
Short	Coinbase International AVAX-PERP-INTX	11.246	0.0056	get 0.0007% / 1h	36m 08s	$915K	$8.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against BingX. 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 BingXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.151%Rate

Funding earned: −$9.24
Price spread: +0.151% → +0.089%: $6.28
Slippage, 4 orders: −$15.18
Fee BingX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$38.14
Costs to cover: 0.352%
Break-even: never at this rate

Slippage from BingX: live order book, 8 min ago; Coinbase International: live order book, 3 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 BingX live order book, 8 min ago	0.89 bp	6.2 bp −$6	6.7 bp −$67	9.6 bp −$963	28.3 bp −$14.2K
Sell Coinbase International live order book, 3 min ago	2.68 bp	11.5 bp −$12	19.8 bp −$198	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
Deribit AVAX_USDC-PERPETUAL	−0.0195%	1h	11.224	−0.045%	$5.3M	$9.4M	25x	as long as short
Variational Omni AVAX	−0.0169%	8h	11.174	−0.494%	$2.9M	$2.1M	—	as long as short
Nado AVAX-PERP	−0.0114%	1h	11.232	+0.027%	$297K	$956K	10x	as long as short
Injective AVAX/USDC PERP	−0.0043%	1h	11.100	−1.149%	$17K	$127K	12x	as long as short
Extended AVAX-USD	−0.0008%	1h	11.222	−0.064%	$669K	$2.3M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.232	+0.023%	$99K	$115K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.226	−0.028%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0044%	8h	11.227	−0.018%	$12.6M	$39.8M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0054%	8h	11.231	+0.018%	$20.0M	$147.7M	50x	as long as short
Coinbase International AVAX-PERP-INTXshort	+0.0056%	1h	11.246	+0.151%	$915K	$8.2M	50x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex AVAXUSDT	+0.0064%	8h	11.224	−0.045%	$30.1M	$4.8M	50x	as long as short
Bybit AVAXUSDT	+0.0068%	8h	11.234	+0.045%	$86.6M	$152.3M	75x	as long as short
MEXC AVAX_USDT	+0.0070%	8h	11.228	−0.009%	$53.5M	$109.1M	200x	as long as short
Binance AVAXUSDT	+0.0073%	8h	11.231	+0.018%	$120.6M	$537.6M	75x	as long as short
Paradex AVAX-USD-PERP	+0.0096%	8h	11.224	−0.042%	$13K	$766	20x	as long as short
Lighter AVAX	+0.0096%	1h	11.226	−0.030%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.232	+0.027%	$9K	$701K	50x	as long as short
Aevo AVAX-PERP	+0.0096%	1h	11.220	−0.084%	$258K	—	3x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.229	+0.003%	$2.3M	$1.9M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.232	+0.025%	$298K	$122K	10x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.228	−0.009%	$16.1M	$24.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.229	0.000%	$34.5M	$61.2M	75x	as long as short
BingX AVAX-USDTlong	+0.0100%	8h	11.229	long leg	—	$90.3M	—
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.230	+0.009%	$333K	$559K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.170	−0.526%	$353K	$910K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.176	−0.472%	$180K	$684K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.234	+0.045%	$130K	$482K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.233	+0.036%	$202K	$302K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.253	+0.217%	$12K	$715K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.223	−0.053%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.223	−0.058%	$360K	$1.1M	75x	as long as short
BloFin AVAX-USDT	+0.0190%	8h	11.229	0.000%	$5.0M	$8.5M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.227	−0.016%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0256%	1h	11.233	+0.035%	$4.7M	$13.7M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0405% / S −0.0244%	1h	11.227	−0.020%	$242K	—	120x	as long as short
Hyperliquid AVAX	+0.0469%	1h	11.247	+0.160%	$43.2M	$58.3M	10x	as long as short