Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0132%/8h= −14.5% APRpaid last 24h −0.035%

Price spread now: BingX against Coinbase International−0.266%7-day average −0.086% · you buy dearer than you sell

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$350.355% of the position

Long on Coinbase International Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.186%−$19 on $10k

Price spread, last 4 days (all we have)+0.374%+$37 · spread now −0.266%, 7d avg −0.086%

Together, before fees+0.189%+$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and BingX is 0.180% cheaper against Coinbase International than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of −0.086%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International AVAX-PERP-INTX	10.908	0.0232	pay 0.0029% / 1h	11m 42s	$888K	$4.8M	50x
Short	BingX AVAX-USDT	10.879	0.0100	get 0.0100% / 8h	3h 11m	—	$54.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.266%Rate

Funding earned: −$27.72
Price spread: −0.266% → −0.086%: −$18
Slippage, 4 orders: −$15.45
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$81.17
Costs to cover: 0.355%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; BingX: live order book, 12 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	2.29 bp	12.6 bp −$13	19.6 bp −$196	doesn't fit	doesn't fit
Sell BingX live order book, 12 min ago	0.46 bp	5.8 bp −$6	7.7 bp −$77	9.4 bp −$943	19.1 bp −$9,566

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	10.880	−0.257%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0025%	1h	10.904	−0.037%	$5.0M	$7.4M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.890	−0.169%	$95K	$96K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.907	−0.009%	$12K	—	150x	as long as short
Kraken Futures PF_AVAXUSD	+0.0020%	1h	10.902	−0.051%	$4.2M	$11.0M	50x	as long as short
Nado AVAX-PERP	+0.0026%	1h	10.899	−0.078%	$283K	$308K	10x	as long as short
Gate AVAX_USDT	+0.0068%	8h	10.890	−0.165%	$12.3M	$32.6M	75x	as long as short
Lighter AVAX	+0.0096%	1h	10.888	−0.183%	$1.2M	$2.7M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.905	−0.028%	$8K	$441K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0098%	8h	10.879	−0.267%	$12K	$212	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster AVAXUSDT	+0.0100%	8h	10.891	−0.155%	$2.2M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.890	−0.169%	$274K	$130K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.884	−0.220%	$114.2M	$415.9M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.874	−0.312%	$82.3M	$137.8M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.878	−0.275%	$19.7M	$109.4M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.882	−0.238%	$44.8M	$79.0M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.891	−0.156%	$15.0M	$21.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.874	−0.312%	$32.6M	$47.2M	75x	as long as short
BingX AVAX-USDTshort	+0.0100%	8h	10.879	−0.266%	—	$54.7M	—
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.896	−0.110%	$370K	$546K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	10.912	+0.033%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.914	+0.060%	$343K	$953K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.927	+0.174%	$175K	$665K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.902	−0.055%	$128K	$343K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.910	+0.018%	$192K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.933	+0.233%	$12K	$718K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.903	−0.046%	$18K	$71K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.938	+0.279%	$359K	$770K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.898	−0.092%	$29.1M	$5.7M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.886	−0.203%	$674K	$1.3M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.905	−0.032%	$250K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.903	−0.046%	$4.8M	$5.3M	100x	as long as short
Hyperliquid AVAX	+0.0231%	1h	10.903	−0.046%	$41.7M	$40.3M	10x	as long as short
Coinbase International AVAX-PERP-INTXlong	+0.0232%	1h	10.908	long leg	$888K	$4.8M	50x
Reya AVAXRUSDPERP	+0.0244%	1h	10.897	−0.098%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0445% / S −0.0279%	1h	10.906	−0.019%	$237K	—	120x	as long as short