Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0143%/8h= −15.6% APRpaid last 24h −0.158%

Price spread now: Injective against BingX−0.742%57s7-day average — · you buy dearer than you sell

Net, funding: paid 7d − costs−$137as 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−$1041.039% of the position

Long on BingX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.327%−$33 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Injective is 0.742% cheaper against BingX than usual: you would sell low and buy high (−$74 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX AVAX-USDT	11.183	0.0100	pay 0.0100% / 8h	2h 46m	—	$90.4M	—
Short	Injective AVAX/USDC PERP	11.100	−0.0043	pay 0.0005% / 1h	46m 18s	$17K	$127K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.742%Rate

Funding earned: −$29.96
Price spread: −0.742% → 0.000%: −$74.22
Slippage, 4 orders: −$93.91
Fee BingX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$208.11
Costs to cover: 1.039%
Break-even: never at this rate

Slippage from BingX: live order book, 8 min ago; Injective: live order book, 42 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	0.90 bp	5.9 bp −$6	6.5 bp −$65	11.6 bp −$1,162	33.9 bp −$16.9K
Sell Injective live order book, 42 min ago	27.20 bp	27.2 bp −$27	doesn't fit	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	−0.0197%	1h	11.182	−0.009%	$5.3M	$9.4M	25x	as long as short
Variational Omni AVAX	−0.0185%	8h	11.129	−0.487%	$2.9M	$2.1M	—	as long as short
Nado AVAX-PERP	−0.0106%	1h	11.170	−0.112%	$296K	$956K	10x	as long as short
Injective AVAX/USDC PERPshort	−0.0043%	1h	11.100	−0.742%	$17K	$127K	12x
Extended AVAX-USD	−0.0008%	1h	11.181	−0.017%	$666K	$2.3M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.186	+0.027%	$98K	$115K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.186	+0.030%	$13K	—	150x	as long as short
Bybit AVAXUSDT	+0.0040%	8h	11.185	+0.018%	$84.8M	$149.2M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0042%	8h	11.184	+0.009%	$20.0M	$147.1M	50x	as long as short
Gate AVAX_USDT	+0.0047%	8h	11.174	−0.080%	$12.5M	$39.5M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International AVAX-PERP-INTX	+0.0056%	1h	11.180	−0.027%	$892K	$8.1M	50x	as long as short
Phemex AVAXUSDT	+0.0058%	8h	11.176	−0.063%	$30.0M	$4.8M	50x	as long as short
MEXC AVAX_USDT	+0.0064%	8h	11.184	+0.009%	$54.1M	$108.6M	200x	as long as short
Binance AVAXUSDT	+0.0067%	8h	11.181	−0.018%	$119.9M	$538.8M	75x	as long as short
Paradex AVAX-USD-PERP	+0.0094%	8h	11.179	−0.034%	$13K	$766	20x	as long as short
Lighter AVAX	+0.0096%	1h	11.182	−0.009%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.174	−0.080%	$13K	$697K	50x	as long as short
Aevo AVAX-PERP	+0.0096%	1h	11.181	−0.018%	$257K	—	3x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.179	−0.036%	$2.3M	$2.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.180	−0.023%	$297K	$122K	10x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.185	+0.018%	$15.8M	$24.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.182	−0.009%	$34.4M	$61.0M	75x	as long as short
BingX AVAX-USDTlong	+0.0100%	8h	11.183	long leg	—	$90.4M	—
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.184	+0.009%	$326K	$553K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.124	−0.530%	$357K	$907K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.130	−0.474%	$179K	$685K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.180	−0.027%	$117K	$466K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.192	+0.080%	$201K	$302K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.205	+0.195%	$12K	$712K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.181	−0.018%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.184	+0.004%	$358K	$1.1M	75x	as long as short
BloFin AVAX-USDT	+0.0185%	8h	11.174	−0.080%	$5.0M	$8.7M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.178	−0.042%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0257%	1h	11.189	+0.053%	$4.7M	$13.6M	50x	as long as short
Hyperliquid AVAX	+0.0391%	1h	11.193	+0.089%	$42.5M	$58.4M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0405% / S −0.0244%	1h	11.186	+0.026%	$241K	—	120x	as long as short