Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0116%/8h= −12.7% APRpaid last 24h −0.025%

Price spread now: SunX against Coinbase International+0.169%7-day average +0.211% · you sell dearer than you buy

Net, funding: paid 7d − costs−$198as in the Funding arb table

Net, price: spread back to 7d avg − costs−$188as in the Price arb table

costs, in and out, $10k−$1841.842% of the position

Long on Coinbase International Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.141%−$14 on $10k

Price spread, last 4 days (all we have)+0.038%+$4 · spread now +0.169%, 7d avg +0.211%

Together, before fees−0.103%−$10 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 SunX is 0.042% cheaper against Coinbase International than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.211%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International AVAX-PERP-INTX	10.743	0.0216	pay 0.0027% / 1h	56m 06s	$880K	$4.7M	50x
Short	SunX AVAX-USDT	10.761	0.0100	get 0.0100% / 8h	2h 56m	$11K	$731K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.169%Rate

Funding earned: −$24.36
Price spread: +0.169% → +0.211%: −$4.15
Slippage, 4 orders: −$166.19
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$212.7
Costs to cover: 1.842%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; SunX: live order book, 16 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	4.19 bp	14.5 bp −$15	21.7 bp −$217	doesn't fit	doesn't fit
Sell SunX live order book, 16 min ago	41.87 bp	102.8 bp −$103	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 PERP	−0.1423%	1h	10.760	+0.158%	$17K	$152K	12x	as long as short
Kraken Futures PF_AVAXUSD	−0.0278%	1h	10.739	−0.038%	$4.1M	$11.1M	50x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0122%	1h	10.735	−0.074%	$4.8M	$7.5M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.733	−0.090%	$94K	$97K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.737	−0.054%	$12K	—	150x	as long as short
Polymarket Perps AVAX-USD	+0.0012%	1h	10.733	−0.093%	$132K	$343K	10x	as long as short
Gate AVAX_USDT	+0.0044%	8h	10.731	−0.112%	$12.1M	$31.3M	75x	as long as short
Variational Omni AVAX	+0.0067%	8h	10.769	+0.238%	$2.8M	$2.2M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0089%	1h	10.730	−0.121%	$376K	$530K	15x	as long as short
Lighter AVAX	+0.0096%	1h	10.732	−0.103%	$1.2M	$2.6M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex AVAXUSDT	+0.0096%	1h	10.732	−0.102%	$9K	$441K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0096%	8h	10.732	−0.104%	$12K	$212	20x	as long as short
Nado AVAX-PERP	+0.0100%	1h	10.728	−0.135%	$281K	$311K	10x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.740	−0.028%	$40.3M	$40.6M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.728	−0.138%	$2.1M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.738	−0.050%	$270K	$130K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.733	−0.098%	$112.1M	$421.4M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.724	−0.177%	$79.9M	$142.0M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.729	−0.130%	$19.3M	$109.3M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.734	−0.084%	$43.5M	$78.0M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.733	−0.093%	$14.8M	$22.0M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.726	−0.158%	$31.9M	$48.0M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.728	−0.140%	—	$54.7M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.775	+0.297%	$343K	$940K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.767	+0.223%	$173K	$664K	50x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.741	−0.019%	$189K	$310K	20x	as long as short
SunX AVAX-USDTshort	+0.0100%	8h	10.761	+0.169%	$11K	$731K	20x
SoDEX AVAX-USD	+0.0100%	1h	10.733	−0.093%	$18K	$71K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.755	+0.109%	$357K	$780K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.736	−0.065%	$28.6M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.729	−0.130%	$664K	$1.3M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.739	−0.039%	$247K	—	3x	as long as short
Coinbase International AVAX-PERP-INTXlong	+0.0216%	1h	10.743	long leg	$880K	$4.7M	50x
BloFin AVAX-USDT	+0.0220%	8h	10.729	−0.130%	$4.8M	$5.4M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	10.728	−0.142%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0272%	1h	10.736	−0.067%	$234K	—	120x	as long as short