AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.1655%/8h= −181.2% APRnext payment −$2.07 per $10,000 · paid last 24h −0.266%

Price spread now: Injective against Coinbase International−0.135%7-day average −0.266% · you buy dearer than you sell

Net, funding: paid 7d − costs−$183as in the Funding arb table

Net, price: spread back to 7d avg − costs−$111as in the Price arb table

costs, in and out, $10k−$1241.236% of the position

Long on Coinbase International Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.598%−$60 on $10k

Price spread, last 4 days (all we have)+1.100%+$110 · spread now −0.135%, 7d avg −0.266%

Together, before fees+0.502%+$50 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 0.130% dearer against Coinbase International than usual: you sell high and buy low (spread −0.135% now, against its 7-day average of −0.266%): +$13 on $10k if it goes back. Holding the pair costs −$50 a day in funding at the current rate, which eats that in about 6 hours. At the pace of the last 7 days (−0.598% in total) that is about 37 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.598% in total (about -31.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.07 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International AVAX-PERP-INTX	11.105	0.0232	pay 0.0029% / 1h	50m 56s	$890K	$5.3M	50x
Short	Injective AVAX/USDC PERP	11.090	−0.1423	pay 0.0178% / 1h	50m 56s	$17K	$151K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpOrdersPrice spread, now −0.135%Rate

Funding earned: −$347.46
Price spread: −0.135% → −0.266%: $13.05
Slippage, 4 orders: −$113.6
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$458.03
Costs to cover: 1.236%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; Injective: live order book, 8 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, 3 min ago	4.04 bp	12.1 bp −$12	19.2 bp −$192	doesn't fit	doesn't fit
Sell Injective live order book, 8 min ago	44.92 bp	44.9 bp −$45	doesn't fit	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 PERPshort	−0.1423%	1h	11.090	−0.135%	$17K	$151K	12x
Deribit AVAX_USDC-PERPETUAL	−0.0201%	1h	11.086	−0.171%	$5.2M	$7.9M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.106	+0.010%	$97K	$97K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.096	−0.080%	$13K	—	150x	as long as short
Nado AVAX-PERP	+0.0002%	1h	11.104	−0.009%	$286K	$395K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0058%	1h	11.137	+0.288%	$179K	$673K	50x	as long as short
Lighter AVAX	+0.0096%	1h	11.091	−0.126%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.104	−0.009%	$16K	$582K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.105	+0.001%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.095	−0.093%	$2.3M	$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	11.107	+0.022%	$290K	$114K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.092	−0.119%	$118.0M	$427.8M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.089	−0.144%	$88.3M	$137.5M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.093	−0.108%	$20.2M	$115.9M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.092	−0.117%	$12.1M	$33.9M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.093	−0.108%	$48.2M	$77.4M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.099	−0.054%	$15.8M	$21.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.091	−0.126%	$33.3M	$48.2M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.094	−0.099%	—	$80.3M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.091	−0.126%	$335K	$524K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.091	−0.130%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.137	+0.288%	$355K	$835K	10x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.101	−0.036%	$130K	$349K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.099	−0.054%	$195K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.126	+0.192%	$12K	$702K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.090	−0.135%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.111	+0.052%	$365K	$829K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.094	−0.099%	$29.6M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.090	−0.135%	$680K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.090	−0.137%	$255K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0212%	1h	11.093	−0.111%	$4.3M	$11.3M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.093	−0.108%	$5.1M	$5.4M	100x	as long as short
Coinbase International AVAX-PERP-INTXlong	+0.0232%	1h	11.105	long leg	$890K	$5.3M	50x
Reya AVAXRUSDPERP	+0.0244%	1h	11.094	−0.097%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.097	−0.071%	$235K	—	120x	as long as short
Hyperliquid AVAX	+0.0698%	1h	11.107	+0.018%	$43.3M	$42.2M	10x	as long as short