Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.141%

Price spread now: Deribit against BingX−0.018%7-day average +0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$94as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$340.341% of the position

Long on BingX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.602%−$60 on $10k

Price spread, last 3 days (all we have)−0.099%−$10 · spread now −0.018%, 7d avg +0.005%

Together, before fees−0.701%−$70 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Deribit is 0.023% cheaper against BingX than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.005%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX AVAX-USDC	11.114	0.0100	pay 0.0100% / 8h	6h 05m	—	$6.5M	—
Short	Deribit AVAX_USDC-PERPETUAL	11.112	−0.0020	pay 0.0002% / 1h	5m 59s	$5.2M	$8.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.018%Rate

Funding earned: −$25.18
Price spread: −0.018% → +0.005%: −$2.31
Slippage, 4 orders: −$17.06
Fee BingX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$61.55
Costs to cover: 0.341%
Break-even: never at this rate

Slippage from BingX: live order book, 15 min ago; Deribit: 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, 15 min ago	0.90 bp	11.2 bp −$11	26.2 bp −$262	85.7 bp −$8,566	442.9 bp −$221.5K
Sell Deribit live order book, 3 min ago	0.90 bp	4.4 bp −$4	21.2 bp −$212	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 PERP	−0.1423%	1h	11.070	−0.396%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0040%	1h	11.115	+0.009%	$286K	$477K	10x	as long as short
Deribit AVAX_USDC-PERPETUALshort	−0.0020%	1h	11.112	−0.018%	$5.2M	$8.1M	25x
dYdX AVAX-USD	0.0000%	1h	11.115	+0.011%	$102K	$91K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.111	−0.023%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0078%	8h	11.115	+0.009%	$12.1M	$36.7M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.113	−0.005%	$1.2M	$3.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.118	+0.036%	$16K	$578K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.113	−0.007%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.113	−0.007%	$2.3M	$1.3M	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	11.120	+0.058%	$295K	$107K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.116	+0.018%	$118.6M	$447.1M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.116	+0.018%	$88.3M	$140.9M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.117	+0.027%	$20.0M	$121.4M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.115	+0.009%	$48.6M	$82.8M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.118	+0.036%	$15.5M	$22.1M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.111	−0.027%	$33.4M	$49.9M	75x	as long as short
BingX AVAX-USDClong	+0.0100%	8h	11.114	long leg	—	$6.5M	—
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.115	+0.009%	$355K	$503K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.108	−0.058%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.086	−0.254%	$354K	$790K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.089	−0.225%	$178K	$678K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.116	+0.018%	$130K	$349K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.118	+0.036%	$195K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.148	+0.304%	$12K	$708K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.115	+0.009%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.114	+0.004%	$361K	$855K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.116	+0.018%	$29.7M	$5.6M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.110	−0.037%	$671K	$1.6M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.111	−0.022%	$255K	—	3x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.112	−0.017%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.117	+0.026%	$4.3M	$11.7M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0288%	1h	11.118	+0.036%	$902K	$5.7M	50x	as long as short
Hyperliquid AVAX	+0.0385%	1h	11.128	+0.126%	$43.2M	$44.8M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.109	−0.048%	$236K	—	120x	as long as short