Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0106%/8h= −11.6% APRpaid last 24h +0.006%

Price spread now: Nado against Bybit−0.152%7-day average +0.052% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

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

Long on Bybit Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.006%+$1 on $10k

Price spread, last 4 days (all we have)+0.485%+$48 · spread now −0.152%, 7d avg +0.052%

Together, before fees+0.491%+ Points / potential airdropNado: Active · farm board+$49 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Nado is 0.204% cheaper against Bybit than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of +0.052%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AVAXUSDT	11.019	0.0100	pay 0.0100% / 8h	3h 54m	$85.3M	$139.4M	75x
Short	Nado AVAX-PERP	11.002	−0.0006	pay 0.0001% / 1h	54m 58s	$286K	$316K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.152%Rate

Funding earned: −$22.19
Price spread: −0.152% → +0.052%: −$20.44
Slippage, 4 orders: −$20.08
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$80.7
Costs to cover: 0.381%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Nado: live order book, 63 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	0.46 bp	8.1 bp −$8	15.0 bp −$150	38.7 bp −$3,874	doesn't fit
Sell Nado live order book, 63 min ago	1.35 bp	8.8 bp −$9	18.1 bp −$181	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	−0.1421%	1h	10.940	−0.717%	$17K	$151K	12x	as long as short
Nado AVAX-PERPshort	−0.0006%	1h	11.002	−0.152%	$286K	$316K	10x
dYdX AVAX-USD	0.0000%	1h	11.009	−0.094%	$96K	$97K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	11.020	+0.009%	$5.1M	$7.8M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.014	−0.045%	$12K	—	150x	as long as short
Kraken Futures PF_AVAXUSD	+0.0019%	1h	11.024	+0.043%	$4.2M	$11.2M	50x	as long as short
Lighter AVAX	+0.0096%	1h	11.020	+0.013%	$1.2M	$2.7M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.006	−0.118%	$15K	$457K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.002	−0.155%	$12K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.015	−0.033%	$2.2M	$1.1M	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	11.011	−0.076%	$277K	$129K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.025	+0.052%	$116.3M	$428.3M	75x	as long as short
Bybit AVAXUSDTlong	+0.0100%	8h	11.019	long leg	$85.3M	$139.4M	75x
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.021	+0.018%	$20.2M	$114.4M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.020	+0.009%	$12.1M	$32.1M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.024	+0.045%	$45.8M	$77.9M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.025	+0.054%	$15.5M	$21.7M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.999	−0.182%	$33.0M	$47.6M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.022	+0.027%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.026	+0.064%	$369K	$547K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	10.987	−0.294%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.988	−0.281%	$345K	$891K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.993	−0.236%	$177K	$671K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.012	−0.064%	$129K	$345K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.023	+0.036%	$194K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.042	+0.211%	$12K	$717K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.019	0.000%	$18K	$71K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.020	+0.005%	$367K	$811K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.024	+0.045%	$29.4M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.981	−0.348%	$678K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.012	−0.059%	$253K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.024	+0.045%	$5.0M	$5.4M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.029	+0.091%	$896K	$5.2M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.009	−0.093%	$1K	—	20x	as long as short
Hyperliquid AVAX	+0.0350%	1h	11.040	+0.191%	$42.8M	$41.9M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.014	−0.043%	$234K	—	120x	as long as short