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 −0.034%

Price spread now: OKX against Coinbase International−0.248%7-day average −0.094% · you buy dearer than you sell

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$420.416% of the position

Long on Coinbase International Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.227%−$23 on $10k

Price spread, last 3 days (all we have)+0.357%+$36 · spread now −0.248%, 7d avg −0.094%

Together, before fees+0.130%+$13 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 OKX is 0.154% cheaper against Coinbase International than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.094%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International AVAX-PERP-INTX	11.293	0.0280	pay 0.0035% / 1h	51m 58s	$920K	$8.1M	50x
Short	OKX AVAX-USDT-SWAP	11.265	0.0100	get 0.0100% / 8h	51m 58s	$20.3M	$145.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.248%Rate

Funding earned: −$37.8
Price spread: −0.248% → −0.094%: −$15.39
Slippage, 4 orders: −$21.57
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$94.75
Costs to cover: 0.416%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; OKX: 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	3.55 bp	12.4 bp −$12	18.2 bp −$182	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.44 bp	8.6 bp −$9	18.1 bp −$181	48.6 bp −$4,861	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	11.200	−0.824%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0106%	1h	11.272	−0.186%	$297K	$888K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0105%	1h	11.263	−0.266%	$5.3M	$9.0M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.284	−0.076%	$104K	$111K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.260	−0.293%	$13K	—	150x	as long as short
Variational Omni AVAX	+0.0042%	8h	11.222	−0.629%	$3.0M	$2.4M	—	as long as short
Lighter AVAX	+0.0096%	1h	11.266	−0.240%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.266	−0.239%	$18K	$677K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.275	−0.161%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.268	−0.223%	$2.3M	$1.8M	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	11.282	−0.100%	$300K	$120K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.265	−0.251%	$120.4M	$520.3M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.266	−0.239%	$89.6M	$156.4M	75x	as long as short
OKX AVAX-USDT-SWAPshort	+0.0100%	8h	11.265	−0.248%	$20.3M	$145.6M	50x
Gate AVAX_USDT	+0.0100%	8h	11.264	−0.257%	$12.3M	$40.0M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.265	−0.248%	$51.3M	$93.0M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.265	−0.248%	$15.8M	$24.4M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.266	−0.239%	$34.3M	$59.5M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.267	−0.230%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.265	−0.248%	$360K	$569K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.253	−0.356%	$359K	$877K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.225	−0.602%	$180K	$686K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.269	−0.213%	$134K	$457K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.268	−0.221%	$205K	$303K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.292	−0.012%	$12K	$733K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.265	−0.248%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.254	−0.342%	$364K	$1.0M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.266	−0.239%	$30.3M	$5.0M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.263	−0.263%	$672K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.259	−0.298%	$259K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.268	−0.221%	$5.0M	$7.8M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.262	−0.278%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0269%	1h	11.271	−0.198%	$4.6M	$13.3M	50x	as long as short
Coinbase International AVAX-PERP-INTXlong	+0.0280%	1h	11.293	long leg	$920K	$8.1M	50x
GMX AVAX/USD [AVAX-USDC]	L +0.0417% / S −0.0268%	1h	11.263	−0.270%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0806%	1h	11.284	−0.080%	$43.7M	$55.2M	10x	as long as short