Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0180%/8h= −19.7% APRpaid last 24h −0.036%

Price spread now: GRVT against Coinbase International−0.151%7-day average −0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$400.403% of the position

Long on Coinbase International Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.165%−$17 on $10k

Price spread, last 3 days (all we have)+0.186%+$19 · spread now −0.151%, 7d avg −0.048%

Together, before fees+0.020%+ Points / potential airdropGRVT: Active · farm board+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and GRVT is 0.103% cheaper against Coinbase International than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.048%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International AVAX-PERP-INTX	11.245	0.0280	pay 0.0035% / 1h	2m 51s	$918K	$7.7M	50x
Short	GRVT AVAX_USDT_Perp	11.228	0.0100	get 0.0100% / 8h	2m 51s	$362K	$873K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.151%Rate

Funding earned: −$37.8
Price spread: −0.151% → −0.048%: −$10.32
Slippage, 4 orders: −$21.29
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$88.41
Costs to cover: 0.403%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 1 min ago; GRVT: live order book, 10 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, 1 min ago	1.78 bp	13.3 bp −$13	18.7 bp −$187	doesn't fit	doesn't fit
Sell GRVT live order book, 10 min ago	1.34 bp	8.6 bp −$9	14.7 bp −$147	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	11.180	−0.578%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0106%	1h	11.229	−0.142%	$5.3M	$8.9M	25x	as long as short
Nado AVAX-PERP	−0.0097%	1h	11.236	−0.084%	$296K	$877K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.238	−0.064%	$103K	$106K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.234	−0.098%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.230	−0.135%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.232	−0.116%	$18K	$663K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.232	−0.120%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.227	−0.158%	$2.3M	$1.7M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.237	−0.070%	$298K	$118K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AVAXUSDT	+0.0100%	8h	11.225	−0.178%	$120.3M	$510.3M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.226	−0.169%	$89.5M	$154.8M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.223	−0.196%	$20.3M	$143.1M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.225	−0.178%	$12.5M	$40.4M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.227	−0.160%	$50.0M	$93.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.232	−0.116%	$15.6M	$24.1M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.228	−0.151%	$34.3M	$57.7M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.227	−0.160%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.228	−0.151%	$359K	$565K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.226	−0.169%	$3.0M	$2.4M	—	as long as short
GRVT AVAX_USDT_Perpshort	+0.0100%	8h	11.228	−0.151%	$362K	$873K	10x
ApeX Omni AVAXUSDT	+0.0100%	1h	11.230	−0.133%	$180K	$687K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.234	−0.098%	$132K	$440K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.240	−0.044%	$204K	$303K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.268	+0.205%	$12K	$735K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.229	−0.142%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.232	−0.120%	$363K	$1.0M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.228	−0.151%	$30.2M	$4.9M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.223	−0.197%	$669K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.227	−0.158%	$258K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.227	−0.160%	$5.0M	$7.1M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.230	−0.129%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0270%	1h	11.236	−0.081%	$4.6M	$13.0M	50x	as long as short
Coinbase International AVAX-PERP-INTXlong	+0.0280%	1h	11.245	long leg	$918K	$7.7M	50x
GMX AVAX/USD [AVAX-USDC]	L +0.0433% / S −0.0255%	1h	11.232	−0.112%	$250K	—	120x	as long as short
Hyperliquid AVAX	+0.0759%	1h	11.242	−0.027%	$43.8M	$55.0M	10x	as long as short