Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.035%

Price spread now: MEXC against Coinbase International−0.119%51s7-day average −0.062% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$280.283% of the position

Long on Coinbase International Short on MEXC

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)+0.614%+$61 · spread now −0.119%, 7d avg −0.062%

Together, before fees+0.413%+$41 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and MEXC is 0.058% cheaper against Coinbase International than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.062%). Swap the legs. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International AVAX-PERP-INTX	10.909	0.0200	pay 0.0025% / 1h	12m 23s	$859K	$5.3M	50x
Short	MEXC AVAX_USDT	10.896	0.0100	get 0.0100% / 8h	7h 12m	$53.4M	$80.3M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.119%Rate

Funding earned: −$21
Price spread: −0.119% → −0.062%: −$5.75
Slippage, 4 orders: −$18.3
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$55.05
Costs to cover: 0.283%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; MEXC: live order book, 2 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	3.67 bp	12.6 bp −$13	17.5 bp −$175	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	0.46 bp	1.8 bp −$2	3.0 bp −$30	38.0 bp −$3,800	95.8 bp −$47.9K

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
Kraken Futures PF_AVAXUSD	−0.0262%	1h	10.904	−0.046%	$3.8M	$11.6M	50x	as long as short
Nado AVAX-PERP	−0.0185%	1h	10.890	−0.174%	$274K	$316K	10x	as long as short
Phemex AVAXUSDT	−0.0147%	8h	10.897	−0.110%	$29.1M	$5.6M	50x	as long as short
Variational Omni AVAX	−0.0082%	8h	10.909	−0.001%	$3.1M	$2.1M	—	as long as short
SoDEX AVAX-USD	−0.0065%	1h	10.899	−0.092%	$19K	$68K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.897	−0.109%	$93K	$111K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.904	−0.046%	$5.0M	$6.7M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.902	−0.067%	$12K	—	150x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	−1.366%	$17K	$151K	12x	as long as short
Gate AVAX_USDT	+0.0057%	8h	10.896	−0.119%	$14.1M	$29.5M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex AVAX-USD-PERP	+0.0089%	8h	10.892	−0.152%	$12K	$62	20x	as long as short
Lighter AVAX	+0.0096%	1h	10.906	−0.028%	$1.2M	$2.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.895	−0.128%	$19K	$474K	50x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.911	+0.018%	$36.0M	$39.8M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.901	−0.073%	$2.2M	$1.4M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.907	−0.018%	$274K	$127K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.899	−0.093%	$115.0M	$388.8M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.898	−0.101%	$85.2M	$136.1M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.898	−0.101%	$19.2M	$106.5M	50x	as long as short
MEXC AVAX_USDTshort	+0.0100%	8h	10.896	−0.119%	$53.4M	$80.3M	200x
KuCoin AVAXUSDTM	+0.0100%	8h	10.900	−0.083%	$14.0M	$20.4M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.900	−0.083%	$33.2M	$45.1M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.898	−0.101%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.898	−0.101%	$440K	$531K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.926	+0.156%	$343K	$1.3M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.926	+0.156%	$176K	$661K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.901	−0.073%	$137K	$234K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.908	−0.009%	$236K	$221K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.929	+0.183%	$12K	$775K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.887	−0.197%	$336K	$872K	75x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.896	−0.116%	$622K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.894	−0.137%	$250K	—	3x	as long as short
Coinbase International AVAX-PERP-INTXlong	+0.0200%	1h	10.909	long leg	$859K	$5.3M	50x
BloFin AVAX-USDT	+0.0220%	8h	10.887	−0.202%	$4.7M	$5.3M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.889	−0.186%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0294%	1h	10.902	−0.063%	$230K	—	120x	as long as short