Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.1643%/8h= −179.9% APRpaid last 24h −0.271%

Price spread now: Injective against BloFin+0.289%7-day average −0.257% · you sell dearer than you buy

Net, funding: paid 7d − costs−$192as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$1291.289% of the position

Long on BloFin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.630%−$63 on $10k

Price spread, last 4 days (all we have)+0.584%+$58 · spread now +0.289%, 7d avg −0.257%

Together, before fees−0.045%−$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 0.546% dearer against BloFin than usual: you sell high and buy low (spread +0.289% now, against its 7-day average of −0.257%): +$55 on $10k if it goes back. Holding the pair costs −$49 a day in funding at the current rate, which eats that in about 27 hours. At the pace of the last 7 days (−0.630% in total) that is about 6.1 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.630% in total (about -32.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin AVAX-USDT	10.729	0.0220	pay 0.0220% / 8h	2h 55m	$4.8M	$5.4M	100x
Short	Injective AVAX/USDC PERP	10.760	−0.1423	pay 0.0178% / 1h	55m 54s	$17K	$152K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BloFin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BloFinbpFee InjectivebpOrdersPrice spread, now +0.289%Rate

Funding earned: −$344.99
Price spread: +0.289% → −0.257%: $54.64
Slippage, 4 orders: −$116.86
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$419.23
Costs to cover: 1.289%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; Injective: live order book, 58 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 BloFin live order book, 3 min ago	7.93 bp	13.9 bp −$14	17.3 bp −$173	35.4 bp −$3,542	doesn't fit
Sell Injective live order book, 58 min ago	40.93 bp	40.9 bp −$41	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
Injective AVAX/USDC PERPshort	−0.1423%	1h	10.760	+0.289%	$17K	$152K	12x
Kraken Futures PF_AVAXUSD	−0.0278%	1h	10.739	+0.092%	$4.1M	$11.1M	50x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0122%	1h	10.735	+0.056%	$4.8M	$7.5M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.733	+0.041%	$94K	$97K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.737	+0.076%	$12K	—	150x	as long as short
Polymarket Perps AVAX-USD	+0.0012%	1h	10.733	+0.037%	$132K	$343K	10x	as long as short
Gate AVAX_USDT	+0.0044%	8h	10.728	−0.009%	$12.1M	$31.3M	75x	as long as short
Variational Omni AVAX	+0.0052%	8h	10.727	−0.022%	$2.8M	$2.2M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0089%	1h	10.730	+0.009%	$376K	$530K	15x	as long as short
Lighter AVAX	+0.0096%	1h	10.732	+0.027%	$1.2M	$2.6M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex AVAXUSDT	+0.0096%	1h	10.732	+0.028%	$9K	$441K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0096%	8h	10.732	+0.026%	$12K	$212	20x	as long as short
Nado AVAX-PERP	+0.0100%	1h	10.728	−0.005%	$281K	$311K	10x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.728	−0.009%	$40.3M	$40.6M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.727	−0.019%	$2.1M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.738	+0.080%	$270K	$130K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.728	−0.013%	$112.1M	$421.4M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.714	−0.140%	$79.9M	$142.0M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.718	−0.103%	$19.3M	$109.2M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.730	+0.009%	$43.5M	$78.1M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.730	+0.009%	$14.8M	$22.0M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.714	−0.140%	$31.8M	$48.1M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.724	−0.047%	—	$54.8M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.775	+0.428%	$343K	$940K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.767	+0.354%	$173K	$664K	50x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.741	+0.112%	$189K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.761	+0.300%	$11K	$731K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.733	+0.037%	$18K	$71K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.755	+0.240%	$357K	$780K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.736	+0.065%	$28.6M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.724	−0.046%	$664K	$1.3M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.739	+0.091%	$247K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0216%	1h	10.743	+0.130%	$880K	$4.7M	50x	as long as short
BloFin AVAX-USDTlong	+0.0220%	8h	10.729	long leg	$4.8M	$5.4M	100x
Reya AVAXRUSDPERP	+0.0244%	1h	10.728	−0.011%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0272%	1h	10.736	+0.063%	$234K	—	120x	as long as short