Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0188%/8h= +20.6% APRpaid last 24h +0.054%

Price spread now: Coinbase International against Bybit+0.036%7-day average +0.100% · you sell dearer than you buy

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$370.373% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.249%+$25 on $10k

Price spread, last 3 days (all we have)−0.062%−$6 · spread now +0.036%, 7d avg +0.100%

Together, before fees+0.187%+$19 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.064% cheaper against Bybit than usual: you would sell low and buy high (spread +0.036% now, against its 7-day average of +0.100%). If the spread goes back, that is −$6 on $10k: about 27 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AVAXUSDT	11.117	0.0100	pay 0.0100% / 8h	6h 27m	$88.6M	$143.6M	75x
Short	Coinbase International AVAX-PERP-INTX	11.121	0.0288	get 0.0036% / 1h	27m 47s	$903K	$5.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bybit. 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 BybitbpFee Coinbase InternationalbpOrdersPrice spread, now +0.036%Rate

Funding earned: $39.48
Price spread: +0.036% → +0.100%: −$6.38
Slippage, 4 orders: −$16.34
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$4.24
Costs to cover: 0.373%
Break-even: 7.8 days

Slippage from Bybit: live order book, 1 min ago; Coinbase International: live order book, 1 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 Bybit live order book, 1 min ago	0.45 bp	7.8 bp −$8	13.9 bp −$139	40.3 bp −$4,026	doesn't fit
Sell Coinbase International live order book, 1 min ago	2.25 bp	9.0 bp −$9	15.3 bp −$153	doesn't fit	doesn't fit

AVAX on 35 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	11.080	−0.333%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0050%	1h	11.111	−0.049%	$286K	$509K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0020%	1h	11.113	−0.036%	$5.2M	$8.3M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.111	−0.052%	$102K	$96K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.115	−0.014%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0049%	8h	11.114	−0.027%	$12.1M	$36.6M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.114	−0.029%	$1.2M	$3.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.107	−0.090%	$15K	$594K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.112	−0.047%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.115	−0.016%	$2.3M	$1.4M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AVAX	+0.0100%	1h	11.111	−0.054%	$295K	$107K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.117	0.000%	$118.5M	$461.1M	75x	as long as short
Bybit AVAXUSDTlong	+0.0100%	8h	11.117	long leg	$88.6M	$143.6M	75x
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.117	0.000%	$19.9M	$124.2M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.114	−0.027%	$48.8M	$82.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.119	+0.018%	$15.6M	$22.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.115	−0.018%	$33.4M	$51.4M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.118	+0.009%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.116	−0.009%	$355K	$535K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.127	+0.088%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.117	0.000%	$350K	$800K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.120	+0.027%	$179K	$679K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.113	−0.036%	$130K	$363K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.120	+0.027%	$195K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.139	+0.193%	$12K	$718K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.115	−0.018%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.107	−0.085%	$361K	$939K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.115	−0.018%	$29.7M	$5.6M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.111	−0.052%	$671K	$1.7M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.116	−0.006%	$255K	—	3x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.109	−0.069%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.117	−0.002%	$4.3M	$11.9M	50x	as long as short
Coinbase International AVAX-PERP-INTXshort	+0.0288%	1h	11.121	+0.036%	$903K	$5.9M	50x
Hyperliquid AVAX	+0.0409%	1h	11.131	+0.126%	$43.3M	$47.1M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.112	−0.041%	$236K	—	120x	as long as short