Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0204%/8h= −22.3% APRpaid last 24h −0.034%

Price spread now: Binance against Coinbase International+0.143%7-day average −0.060% · you sell dearer than you buy

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$360.364% of the position

Long on Coinbase International Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.201%−$20 on $10k

Price spread, last 3 days (all we have)−0.049%−$5 · spread now +0.143%, 7d avg −0.060%

Together, before fees−0.250%−$25 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.203% dearer against Coinbase International than usual: you sell high and buy low (spread +0.143% now, against its 7-day average of −0.060%): +$20 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 3.3 days. At the pace of the last 7 days (−0.201% in total) that is about 7.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International AVAX-PERP-INTX	11.155	0.0304	pay 0.0038% / 1h	17m 25s	$921K	$6.6M	50x
Short	Binance AVAXUSDT	11.171	0.0100	get 0.0100% / 8h	7h 17m	$119.3M	$477.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Coinbase International. 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 Coinbase InternationalbpFee BinancebpOrdersPrice spread, now +0.143%Rate

Funding earned: −$42.84
Price spread: +0.143% → −0.060%: $20.32
Slippage, 4 orders: −$16.37
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$58.89
Costs to cover: 0.364%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; Binance: live order book, 11 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 Coinbase International live order book, 2 min ago	2.69 bp	13.4 bp −$13	21.2 bp −$212	doesn't fit	doesn't fit
Sell Binance live order book, 11 min ago	0.45 bp	6.9 bp −$7	14.3 bp −$143	41.2 bp −$4,123	130.2 bp −$65.1K

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	11.120	−0.314%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0108%	1h	11.167	+0.108%	$5.3M	$8.5M	25x	as long as short
Nado AVAX-PERP	−0.0054%	1h	11.172	+0.157%	$293K	$732K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.174	+0.171%	$103K	$105K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.166	+0.095%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.172	+0.155%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.171	+0.143%	$15K	$611K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.167	+0.110%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.174	+0.173%	$2.3M	$1.6M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.170	+0.138%	$297K	$100K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AVAXUSDTshort	+0.0100%	8h	11.171	+0.143%	$119.3M	$477.7M	75x
Bybit AVAXUSDT	+0.0100%	8h	11.171	+0.143%	$88.9M	$147.7M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.168	+0.117%	$20.0M	$131.0M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.170	+0.134%	$12.2M	$38.2M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.169	+0.126%	$48.7M	$88.9M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.174	+0.170%	$15.4M	$23.1M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.170	+0.134%	$33.9M	$53.5M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.164	+0.081%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.178	+0.206%	$357K	$551K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.163	+0.069%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.159	+0.037%	$352K	$847K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.163	+0.072%	$179K	$688K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.173	+0.161%	$131K	$372K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.174	+0.170%	$196K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.176	+0.186%	$12K	$719K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.169	+0.126%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.163	+0.074%	$362K	$945K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.173	+0.161%	$29.9M	$5.2M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.168	+0.118%	$671K	$2.0M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.164	+0.081%	$256K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0215%	1h	11.177	+0.195%	$4.3M	$12.5M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.147	−0.072%	$5.0M	$6.2M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.166	+0.097%	$1K	—	20x	as long as short
Coinbase International AVAX-PERP-INTXlong	+0.0304%	1h	11.155	long leg	$921K	$6.6M	50x
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0298%	1h	11.164	+0.078%	$236K	—	120x	as long as short
Hyperliquid AVAX	+0.0688%	1h	11.184	+0.260%	$43.7M	$49.6M	10x	as long as short