Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.025%

Price spread now: Lighter against Bybit+0.026%7-day average −0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$220.222% of the position

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.071%−$7 on $10k

Price spread, last 7 days−0.154%−$15 · spread now +0.026%, 7d avg −0.007%

Together, before fees−0.225%+ Points / potential airdropLighter: Season 3 · farm board−$23 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.033% dearer against Bybit than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AVAXUSDT	11.110	0.0100	pay 0.0100% / 8h	5h 37m	$88.3M	$138.0M	75x
Short	Lighter AVAX	11.113	0.0096	get 0.0012% / 1h	37m 55s	$1.2M	$2.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.026%Rate

Funding earned: −$0.84
Price spread: +0.026% → −0.007%: $3.32
Slippage, 4 orders: −$11.16
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: −$19.68
Costs to cover: 0.222%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; Lighter: live order book, 9 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	7.9 bp −$8	13.9 bp −$139	38.4 bp −$3,839	doesn't fit
Sell Lighter live order book, 9 min ago	2.25 bp	2.6 bp −$3	14.1 bp −$141	82.4 bp −$8,236	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	−0.1374%	1h	11.100	−0.090%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0110%	1h	11.111	+0.009%	$5.2M	$7.9M	25x	as long as short
Nado AVAX-PERP	−0.0063%	1h	11.117	+0.063%	$286K	$448K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.119	+0.083%	$102K	$87K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.114	+0.037%	$13K	—	150x	as long as short
Kraken Futures PF_AVAXUSD	+0.0045%	1h	11.113	+0.030%	$4.3M	$11.5M	50x	as long as short
Lighter AVAXshort	+0.0096%	1h	11.113	+0.026%	$1.2M	$2.9M	10x
Popdex AVAXUSDT	+0.0096%	1h	11.112	+0.018%	$15K	$564K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.117	+0.061%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.110	+0.004%	$2.3M	$1.2M	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	11.122	+0.109%	$290K	$112K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.110	0.000%	$118.6M	$434.6M	75x	as long as short
Bybit AVAXUSDTlong	+0.0100%	8h	11.110	long leg	$88.3M	$138.0M	75x
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.111	+0.009%	$20.0M	$117.5M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.107	−0.027%	$12.1M	$34.9M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.108	−0.018%	$47.8M	$79.0M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.113	+0.027%	$15.5M	$21.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.106	−0.036%	$33.3M	$48.6M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.111	+0.009%	—	$81.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.108	−0.018%	$355K	$498K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.132	+0.201%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.141	+0.280%	$357K	$801K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.145	+0.315%	$179K	$678K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.116	+0.054%	$130K	$349K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.119	+0.081%	$195K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.144	+0.309%	$12K	$700K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.112	+0.018%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.113	+0.023%	$364K	$872K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.110	0.000%	$29.7M	$5.6M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.107	−0.023%	$671K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.104	−0.054%	$255K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.104	−0.054%	$5.1M	$5.5M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.134	+0.216%	$900K	$5.5M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.109	−0.012%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.114	+0.035%	$236K	—	120x	as long as short
Hyperliquid AVAX	+0.0452%	1h	11.127	+0.153%	$43.3M	$43.0M	10x	as long as short