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 −0.156%

Price spread now: Injective against Bitget−0.359%71s7-day average −0.155% · you buy dearer than you sell

Net, funding: paid 7d − costs−$139as 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−$1071.073% of the position

Long on Bitget Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.316%−$32 on $10k

Price spread, last 3 days (all we have)+0.866%+$87 · spread now −0.359%, 7d avg −0.155%

Together, before fees+0.550%+$55 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 Injective is 0.205% cheaper against Bitget than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of −0.155%). Swap the legs. The two prices were read 71 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	Bitget AVAXUSDT	11.140	0.0100	pay 0.0100% / 8h	2h 56m	$34.3M	$61.6M	75x
Short	Injective AVAX/USDC PERP	11.100	−0.0043	pay 0.0005% / 1h	56m 11s	$17K	$127K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.359%Rate

Funding earned: −$29.96
Price spread: −0.359% → −0.155%: −$20.45
Slippage, 4 orders: −$95.24
Fee Bitget: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$157.67
Costs to cover: 1.073%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; Injective: live order book, 32 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, 3 min ago	0.45 bp	7.2 bp −$7	11.5 bp −$115	20.8 bp −$2,083	doesn't fit
Sell Injective live order book, 32 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
Variational Omni AVAX	−0.0203%	8h	11.128	−0.111%	$2.9M	$2.1M	—	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0109%	1h	11.142	+0.018%	$5.3M	$9.4M	25x	as long as short
Nado AVAX-PERP	−0.0093%	1h	11.125	−0.130%	$298K	$963K	10x	as long as short
Injective AVAX/USDC PERPshort	−0.0043%	1h	11.100	−0.359%	$17K	$127K	12x
Extended AVAX-USD	−0.0040%	1h	11.138	−0.020%	$662K	$2.2M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.130	−0.090%	$98K	$132K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.132	−0.072%	$13K	—	150x	as long as short
Bybit AVAXUSDT	+0.0010%	8h	11.140	0.000%	$85.5M	$147.8M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0025%	8h	11.141	+0.009%	$19.9M	$147.0M	50x	as long as short
Gate AVAX_USDT	+0.0042%	8h	11.137	−0.027%	$12.3M	$39.2M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Backpack AVAX_USDC_PERP	+0.0044%	1h	11.143	+0.027%	$317K	$551K	15x	as long as short
SoDEX AVAX-USD	+0.0048%	1h	11.140	0.000%	$19K	$72K	10x	as long as short
Phemex AVAXUSDT	+0.0051%	8h	11.136	−0.036%	$29.8M	$4.8M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0056%	1h	11.134	−0.054%	$902K	$8.1M	50x	as long as short
Binance AVAXUSDT	+0.0060%	8h	11.141	+0.005%	$119.5M	$541.6M	75x	as long as short
MEXC AVAX_USDT	+0.0060%	8h	11.139	−0.009%	$54.4M	$107.9M	200x	as long as short
Paradex AVAX-USD-PERP	+0.0093%	8h	11.121	−0.173%	$13K	$766	20x	as long as short
Lighter AVAX	+0.0096%	1h	11.141	+0.009%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.115	−0.224%	$17K	$698K	50x	as long as short
Aevo AVAX-PERP	+0.0096%	1h	11.133	−0.058%	$256K	—	3x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.135	−0.044%	$2.3M	$2.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.127	−0.113%	$296K	$122K	10x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.144	+0.036%	$16.2M	$24.7M	75x	as long as short
Bitget AVAXUSDTlong	+0.0100%	8h	11.140	long leg	$34.3M	$61.6M	75x
BingX AVAX-USDC	+0.0100%	8h	11.140	0.000%	—	$6.5M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.122	−0.164%	$352K	$892K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.128	−0.108%	$179K	$685K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.121	−0.171%	$116K	$476K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.142	+0.018%	$200K	$302K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.149	+0.076%	$12K	$709K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.127	−0.112%	$355K	$1.2M	75x	as long as short
BloFin AVAX-USDT	+0.0181%	8h	11.111	−0.260%	$5.0M	$8.9M	100x	as long as short
Reya AVAXRUSDPERP	+0.0243%	1h	11.118	−0.200%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0258%	1h	11.150	+0.090%	$4.6M	$13.6M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0407% / S −0.0244%	1h	11.131	−0.085%	$240K	—	120x	as long as short
Hyperliquid AVAX	+0.0415%	1h	11.157	+0.153%	$42.1M	$58.7M	10x	as long as short