Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0066%/8h= −7.3% APRpaid last 24h −0.092%

Price spread now: Deribit against Bybit−0.255%7-day average +0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$320.319% of the position

Long on Bybit Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.549%−$55 on $10k

Price spread, last 4 days (all we have)+0.134%+$13 · spread now −0.255%, 7d avg +0.011%

Together, before fees−0.415%−$42 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Deribit is 0.266% cheaper against Bybit than usual: you would sell low and buy high (−$27 if the spread goes back to its 7-day average of +0.011%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AVAXUSDT	10.599	0.0066	pay 0.0066% / 8h	2h 19m	$78.2M	$145.2M	75x
Short	Deribit AVAX_USDC-PERPETUAL	10.572	0	get 0.0000% / 1h	19m 44s	$4.7M	$7.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.255%Rate

Funding earned: −$13.93
Price spread: −0.255% → +0.011%: −$26.62
Slippage, 4 orders: −$13.85
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$72.4
Costs to cover: 0.319%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Deribit: live order book, 4 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, 4 min ago	0.47 bp	7.9 bp −$8	13.1 bp −$131	39.1 bp −$3,906	doesn't fit
Sell Deribit live order book, 4 min ago	0.95 bp	7.2 bp −$7	27.5 bp −$275	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	10.760	+1.519%	$17K	$152K	12x	as long as short
Kraken Futures PF_AVAXUSD	−0.0282%	1h	10.576	−0.218%	$4.2M	$11.5M	50x	as long as short
Nado AVAX-PERP	−0.0054%	1h	10.572	−0.255%	$286K	$340K	10x	as long as short
Variational Omni AVAX	−0.0027%	8h	10.535	−0.607%	$2.7M	$2.2M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.599	+0.001%	$88K	$117K	10x	as long as short
Deribit AVAX_USDC-PERPETUALshort	0.0000%	1h	10.572	−0.255%	$4.7M	$7.5M	25x
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.570	−0.272%	$12K	—	150x	as long as short
Gate AVAX_USDT	+0.0019%	8h	10.603	+0.038%	$12.3M	$32.8M	75x	as long as short
Backpack AVAX_USDC_PERP	+0.0034%	1h	10.588	−0.104%	$369K	$563K	15x	as long as short
Bybit AVAXUSDTlong	+0.0066%	8h	10.599	long leg	$78.2M	$145.2M	75x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AVAX	+0.0096%	1h	10.596	−0.027%	$1.2M	$2.6M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.572	−0.255%	$18K	$437K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0096%	8h	10.599	−0.004%	$12K	$212	20x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.597	−0.019%	$37.9M	$44.0M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.599	−0.003%	$2.1M	$1.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.601	+0.020%	$265K	$131K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.601	+0.017%	$112.9M	$431.8M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.606	+0.066%	$18.7M	$112.3M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.609	+0.094%	$43.9M	$80.5M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.594	−0.047%	$13.2M	$22.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.611	+0.113%	$32.1M	$49.2M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.611	+0.113%	—	$6.5M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.527	−0.679%	$337K	$978K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.532	−0.632%	$170K	$662K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.567	−0.302%	$132K	$354K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.575	−0.226%	$172K	$304K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.607	+0.072%	$12K	$758K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.573	−0.245%	$17K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.575	−0.222%	$344K	$804K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.572	−0.255%	$28.2M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.608	+0.089%	$636K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.566	−0.307%	$243K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0216%	1h	10.549	−0.472%	$836K	$4.8M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.545	−0.509%	$4.6M	$5.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.565	−0.318%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0271%	1h	10.569	−0.278%	$231K	—	120x	as long as short