Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.025%

Price spread now: Phemex against Bybit+0.027%7-day average +0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$440.445% of the position

Long on Bybit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.066%+$7 on $10k

Price spread, last 3 days (all we have)−0.143%−$14 · spread now +0.027%, 7d avg +0.069%

Together, before fees−0.077%−$8 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: Phemex is 0.042% cheaper against Bybit than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.069%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AVAXUSDT	11.266	0.0100	pay 0.0100% / 8h	51m 18s	$89.6M	$156.3M	75x
Short	Phemex AVAXUSDT	11.269	0.0100	get 0.0100% / 8h	51m 18s	$30.3M	$5.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.027%Rate

Funding earned: $0
Price spread: +0.027% → +0.069%: −$4.22
Slippage, 4 orders: −$21.45
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$48.67
Costs to cover: 0.445%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; Phemex: 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	6.8 bp −$7	12.4 bp −$124	33.8 bp −$3,384	doesn't fit
Sell Phemex live order book, 3 min ago	3.11 bp	15.6 bp −$16	25.5 bp −$255	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	−0.1451%	1h	11.200	−0.586%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0105%	1h	11.265	−0.009%	$297K	$888K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0016%	1h	11.271	+0.044%	$5.4M	$9.0M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.266	+0.002%	$104K	$111K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.273	+0.061%	$13K	—	150x	as long as short
Variational Omni AVAX	+0.0042%	8h	11.222	−0.391%	$3.0M	$2.4M	—	as long as short
Lighter AVAX	+0.0096%	1h	11.270	+0.032%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.272	+0.053%	$18K	$677K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.264	−0.014%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.274	+0.072%	$2.3M	$1.8M	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	11.268	+0.016%	$299K	$120K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.265	−0.011%	$120.4M	$520.0M	75x	as long as short
Bybit AVAXUSDTlong	+0.0100%	8h	11.266	long leg	$89.6M	$156.3M	75x
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.265	−0.009%	$20.3M	$145.5M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.271	+0.044%	$12.3M	$40.0M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.272	+0.053%	$51.4M	$93.0M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.278	+0.107%	$15.8M	$24.4M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.273	+0.062%	$34.4M	$59.4M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.272	+0.053%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.265	−0.009%	$360K	$569K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.253	−0.117%	$359K	$877K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.266	0.000%	$181K	$685K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.274	+0.071%	$134K	$457K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.281	+0.133%	$205K	$303K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.291	+0.221%	$12K	$733K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.271	+0.044%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.271	+0.040%	$364K	$1.0M	75x	as long as short
Phemex AVAXUSDTshort	+0.0100%	8h	11.269	+0.027%	$30.3M	$5.0M	50x
Extended AVAX-USD	+0.0104%	1h	11.270	+0.034%	$672K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.273	+0.064%	$259K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.269	+0.027%	$5.0M	$7.8M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.270	+0.036%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0269%	1h	11.275	+0.080%	$4.6M	$13.3M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0280%	1h	11.278	+0.107%	$919K	$8.1M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0417% / S −0.0268%	1h	11.272	+0.052%	$238K	—	120x	as long as short
Hyperliquid AVAX	+0.0807%	1h	11.291	+0.222%	$43.7M	$55.2M	10x	as long as short