Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.011%

Price spread now: Backpack against Bitget+0.090%7-day average +0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

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

Long on Bitget Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.111%−$11 on $10k

Price spread, last 4 days (all we have)−0.105%−$10 · spread now +0.090%, 7d avg +0.046%

Together, before fees−0.216%−$22 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: Backpack is 0.044% dearer against Bitget than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.046%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget AVAXUSDT	11.099	0.0100	pay 0.0100% / 8h	6h 57m	$33.6M	$53.0M	75x
Short	Backpack AVAX_USDC_PERP	11.109	0.0100	get 0.0013% / 1h	57m 02s	$355K	$550K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Bitget. 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 BitgetbpFee BackpackbpOrdersPrice spread, now +0.090%Rate

Funding earned: $0
Price spread: +0.090% → +0.046%: $4.42
Slippage, 4 orders: −$13.16
Fee Bitget: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$30.74
Costs to cover: 0.352%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; Backpack: live order book, 12 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 Bitget live order book, 2 min ago	0.45 bp	8.8 bp −$9	15.1 bp −$151	50.5 bp −$5,046	doesn't fit
Sell Backpack live order book, 12 min ago	0.45 bp	7.8 bp −$8	33.2 bp −$332	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
Injective AVAX/USDC PERP	−0.1423%	1h	11.100	+0.009%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0110%	1h	11.118	+0.171%	$5.2M	$8.3M	25x	as long as short
Nado AVAX-PERP	−0.0053%	1h	11.134	+0.320%	$290K	$576K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.139	+0.358%	$102K	$105K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.120	+0.189%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.118	+0.171%	$1.2M	$3.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.138	+0.351%	$18K	$607K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.139	+0.364%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.128	+0.261%	$2.3M	$1.4M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.145	+0.412%	$296K	$107K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AVAXUSDT	+0.0100%	8h	11.100	+0.008%	$118.3M	$473.8M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.103	+0.036%	$88.4M	$146.5M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.100	+0.009%	$19.8M	$128.1M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.121	+0.198%	$12.1M	$36.3M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.101	+0.018%	$49.1M	$81.8M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.098	−0.009%	$15.2M	$22.9M	75x	as long as short
Bitget AVAXUSDTlong	+0.0100%	8h	11.099	long leg	$33.6M	$53.0M	75x
BingX AVAX-USDC	+0.0100%	8h	11.108	+0.081%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERPshort	+0.0100%	1h	11.109	+0.090%	$355K	$550K	15x
Variational Omni AVAX	+0.0100%	8h	11.112	+0.113%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.149	+0.450%	$354K	$844K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.156	+0.514%	$179K	$687K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.137	+0.342%	$131K	$370K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.128	+0.261%	$195K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.168	+0.626%	$12K	$719K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.117	+0.162%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.140	+0.374%	$363K	$938K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.122	+0.207%	$29.8M	$5.1M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.096	−0.024%	$668K	$2.0M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.115	+0.145%	$255K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.119	+0.180%	$5.0M	$6.1M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.124	+0.228%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.121	+0.200%	$4.3M	$12.4M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0288%	1h	11.133	+0.306%	$899K	$6.3M	50x	as long as short
Hyperliquid AVAX	+0.0404%	1h	11.127	+0.252%	$43.5M	$49.1M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.118	+0.168%	$236K	—	120x	as long as short