Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.001%

Price spread now: Lighter against BingX+0.064%7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$280.283% of the position

Long on BingX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.148%−$15 on $10k

Price spread, last 4 days (all we have)−0.085%−$8 · spread now +0.064%, 7d avg +0.002%

Together, before fees−0.233%+ Points / potential airdropLighter: Season 3 · farm board−$23 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 0.062% dearer against BingX than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX AVAX-USDC	11.295	0.0100	pay 0.0100% / 8h	1h 22m	—	$6.5M	—
Short	Lighter AVAX	11.302	0.0096	get 0.0012% / 1h	22m 12s	$1.3M	$3.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.064%Rate

Funding earned: −$0.84
Price spread: +0.064% → +0.002%: $6.18
Slippage, 4 orders: −$18.34
Fee BingX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$23
Costs to cover: 0.283%
Break-even: never at this rate

Slippage from BingX: live order book, 4 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 BingX live order book, 4 min ago	0.89 bp	10.8 bp −$11	25.0 bp −$250	85.3 bp −$8,530	477.9 bp −$239.0K
Sell Lighter live order book, 5 min ago	2.40 bp	2.7 bp −$3	9.2 bp −$92	86.0 bp −$8,597	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	−0.0570%	1h	11.220	−0.664%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0104%	1h	11.298	+0.027%	$5.4M	$9.2M	25x	as long as short
Nado AVAX-PERP	−0.0035%	1h	11.294	−0.004%	$298K	$895K	10x	as long as short
Variational Omni AVAX	−0.0005%	8h	11.249	−0.406%	$3.0M	$2.4M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	11.283	−0.106%	$104K	$112K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0004%	1h	11.297	+0.018%	$16K	—	150x	as long as short
Lighter AVAXshort	+0.0096%	1h	11.302	+0.064%	$1.3M	$3.3M	10x
Popdex AVAXUSDT	+0.0096%	1h	11.294	−0.009%	$17K	$688K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0099%	8h	11.287	−0.068%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.297	+0.016%	$2.3M	$1.8M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AVAX	+0.0100%	1h	11.289	−0.054%	$300K	$120K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.302	+0.061%	$120.9M	$525.8M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.300	+0.044%	$89.4M	$157.8M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.303	+0.071%	$20.4M	$147.1M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.291	−0.035%	$12.4M	$40.4M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.302	+0.062%	$52.4M	$100.1M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.307	+0.106%	$16.1M	$24.7M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.301	+0.053%	$34.3M	$60.1M	75x	as long as short
BingX AVAX-USDClong	+0.0100%	8h	11.295	long leg	—	$6.5M	—
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.285	−0.089%	$362K	$570K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.247	−0.422%	$359K	$877K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.248	−0.416%	$181K	$686K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.295	0.000%	$134K	$459K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.304	+0.080%	$203K	$301K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.323	+0.246%	$12K	$731K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.301	+0.053%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.296	+0.004%	$365K	$1.1M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.298	+0.027%	$30.4M	$5.0M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.298	+0.029%	$672K	$2.2M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.297	+0.014%	$259K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0192%	1h	11.261	−0.301%	$910K	$8.3M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.279	−0.142%	$5.1M	$8.0M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.290	−0.043%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0406% / S −0.0251%	1h	11.296	+0.007%	$238K	—	120x	as long as short
Kraken Futures PF_AVAXUSD	+0.0626%	1h	11.307	+0.106%	$4.6M	$13.5M	50x	as long as short
Hyperliquid AVAX	+0.0630%	1h	11.308	+0.115%	$43.8M	$56.8M	10x	as long as short