Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0115%/8h= +12.6% APRpaid last 24h +0.012%

Price spread now: Kraken Futures against Bybit+0.125%7-day average +0.090% · you sell dearer than you buy

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$380.381% of the position

Long on Bybit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.012%−$1 on $10k

Price spread, last 3 days (all we have)−0.186%−$19 · spread now +0.125%, 7d avg +0.090%

Together, before fees−0.198%−$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Kraken Futures is 0.035% dearer against Bybit than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.090%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AVAXUSDT	11.185	0.0100	pay 0.0100% / 8h	7h 56m	$89.0M	$154.3M	75x
Short	Kraken Futures PF_AVAXUSD	11.199	0.0215	get 0.0027% / 1h	56m 00s	$4.5M	$12.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.125%Rate

Funding earned: $24.11
Price spread: +0.125% → +0.090%: $3.48
Slippage, 4 orders: −$17.09
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$10.5
Costs to cover: 0.381%
Break-even: 10.0 days

Slippage from Bybit: live order book, 3 min ago; Kraken Futures: live order book, 3 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, 3 min ago	0.44 bp	7.2 bp −$7	13.2 bp −$132	37.1 bp −$3,706	doesn't fit
Sell Kraken Futures live order book, 3 min ago	2.23 bp	10.4 bp −$10	15.1 bp −$151	46.3 bp −$4,628	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	−0.1363%	1h	11.180	−0.045%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0197%	1h	11.188	+0.027%	$5.3M	$8.8M	25x	as long as short
Gate AVAX_USDT	−0.0061%	8h	11.192	+0.063%	$12.4M	$37.4M	75x	as long as short
Nado AVAX-PERP	−0.0013%	1h	11.194	+0.076%	$296K	$880K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.215	+0.264%	$103K	$105K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.194	+0.080%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.193	+0.070%	$1.2M	$3.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.202	+0.152%	$18K	$663K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.208	+0.203%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.199	+0.121%	$2.3M	$1.7M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AVAX	+0.0100%	1h	11.213	+0.252%	$298K	$118K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.186	+0.011%	$119.9M	$509.3M	75x	as long as short
Bybit AVAXUSDTlong	+0.0100%	8h	11.185	long leg	$89.0M	$154.3M	75x
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.176	−0.080%	$20.2M	$141.4M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.190	+0.045%	$49.8M	$87.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.198	+0.116%	$15.6M	$24.0M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.193	+0.072%	$34.1M	$57.4M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.187	+0.018%	—	$86.6M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.191	+0.054%	$358K	$563K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.210	+0.223%	$3.0M	$2.4M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.230	+0.400%	$362K	$873K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.234	+0.438%	$180K	$688K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.204	+0.170%	$132K	$440K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.199	+0.125%	$203K	$303K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.222	+0.330%	$12K	$735K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.192	+0.063%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.156	−0.256%	$360K	$1.0M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.197	+0.107%	$30.1M	$4.9M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.188	+0.028%	$669K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.197	+0.109%	$257K	—	3x	as long as short
Kraken Futures PF_AVAXUSDshort	+0.0215%	1h	11.199	+0.125%	$4.5M	$12.9M	50x
BloFin AVAX-USDT	+0.0220%	8h	11.211	+0.232%	$5.0M	$6.9M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.188	+0.031%	$1K	—	20x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0304%	1h	11.203	+0.161%	$914K	$7.5M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0435% / S −0.0259%	1h	11.191	+0.053%	$250K	—	120x	as long as short
Hyperliquid AVAX	+0.0631%	1h	11.210	+0.224%	$43.7M	$55.0M	10x	as long as short