Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0243%/8h= +26.6% APRpaid last 24h +0.156%

Price spread now: Bybit against Deribit+0.081%7-day average −0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs+$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$320.320% of the position

Long on Deribit Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.530%+$53 on $10k

Price spread, last 3 days (all we have)+0.161%+$16 · spread now +0.081%, 7d avg −0.018%

Together, before fees+0.691%+$69 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Bybit is 0.098% dearer against Deribit than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit AVAX_USDC-PERPETUAL	11.173	−0.0197	get 0.0025% / 1h	43m 58s	$5.3M	$9.4M	25x
Short	Bybit AVAXUSDT	11.182	0.0045	get 0.0045% / 8h	2h 43m	$84.9M	$151.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Deribit. 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 DeribitbpFee BybitbpOrdersPrice spread, now +0.081%Rate

Funding earned: $50.98
Price spread: +0.081% → −0.018%: $9.83
Slippage, 4 orders: −$13.97
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $28.83
Costs to cover: 0.320%
Break-even: 3.0 days

Slippage from Deribit: live order book, 5 min ago; Bybit: live order book, 5 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 Deribit live order book, 5 min ago	2.69 bp	7.1 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.45 bp	8.4 bp −$8	17.5 bp −$175	46.4 bp −$4,644	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
Deribit AVAX_USDC-PERPETUALlong	−0.0197%	1h	11.173	long leg	$5.3M	$9.4M	25x
Variational Omni AVAX	−0.0177%	8h	11.179	+0.050%	$2.9M	$2.1M	—	as long as short
Nado AVAX-PERP	−0.0104%	1h	11.174	+0.007%	$296K	$956K	10x	as long as short
Injective AVAX/USDC PERP	−0.0043%	1h	11.100	−0.653%	$17K	$127K	12x	as long as short
Extended AVAX-USD	−0.0016%	1h	11.178	+0.046%	$666K	$2.3M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.170	−0.029%	$98K	$115K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.177	+0.033%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0043%	8h	11.178	+0.045%	$12.5M	$39.6M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0045%	8h	11.179	+0.054%	$20.0M	$146.8M	50x	as long as short
Bybit AVAXUSDTshort	+0.0045%	8h	11.182	+0.081%	$84.9M	$151.0M	75x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex AVAXUSDT	+0.0056%	8h	11.174	+0.009%	$30.0M	$4.8M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0056%	1h	11.183	+0.090%	$891K	$8.1M	50x	as long as short
MEXC AVAX_USDT	+0.0068%	8h	11.178	+0.045%	$53.9M	$108.7M	200x	as long as short
Binance AVAXUSDT	+0.0069%	8h	11.178	+0.045%	$119.9M	$538.6M	75x	as long as short
Paradex AVAX-USD-PERP	+0.0094%	8h	11.163	−0.085%	$13K	$766	20x	as long as short
Lighter AVAX	+0.0096%	1h	11.176	+0.027%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.165	−0.072%	$13K	$697K	50x	as long as short
Aevo AVAX-PERP	+0.0096%	1h	11.171	−0.013%	$257K	—	3x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.180	+0.059%	$2.3M	$2.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.171	−0.014%	$297K	$122K	10x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.181	+0.072%	$15.9M	$24.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.178	+0.045%	$34.4M	$61.1M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.179	+0.054%	—	$90.4M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.178	+0.045%	$326K	$554K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.161	−0.111%	$358K	$907K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.171	−0.018%	$180K	$685K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.174	+0.009%	$124K	$475K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.181	+0.072%	$201K	$302K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.204	+0.275%	$12K	$713K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.173	0.000%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.171	−0.013%	$358K	$1.1M	75x	as long as short
BloFin AVAX-USDT	+0.0189%	8h	11.182	+0.081%	$5.0M	$8.7M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.174	+0.010%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0257%	1h	11.180	+0.066%	$4.6M	$13.6M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0405% / S −0.0244%	1h	11.176	+0.027%	$241K	—	120x	as long as short
Hyperliquid AVAX	+0.0413%	1h	11.194	+0.188%	$42.5M	$58.5M	10x	as long as short