Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.101%

Price spread now: SunX against Deribit+0.238%7-day average +0.295% · you sell dearer than you buy

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs−$178as in the Price arb table

costs, in and out, $10k−$1721.722% of the position

Long on Deribit Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.661%+$66 on $10k

Price spread, last 4 days (all we have)+0.060%+$6 · spread now +0.238%, 7d avg +0.295%

Together, before fees+0.722%+$72 on $10k · with fees, hour by hour

Funding pays, the price is against you. SunX is 0.056% cheaper against Deribit than usual: you would sell low and buy high (spread +0.238% now, against its 7-day average of +0.295%). If the spread goes back, that is −$6 on $10k: about 45 hours of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.661% in total) that is about 14 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit AVAX_USDC-PERPETUAL	10.906	0	get 0.0000% / 1h	10m 57s	$5.0M	$6.7M	25x
Short	SunX AVAX-USDT	10.932	0.0100	get 0.0100% / 8h	7h 10m	$12K	$775K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.238%Rate

Funding earned: $21
Price spread: +0.238% → +0.295%: −$5.65
Slippage, 4 orders: −$157.18
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$156.82
Costs to cover: 1.722%
Break-even: 59.3 days

Slippage from Deribit: live order book, 3 min ago; SunX: live order book, 31 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, 3 min ago	1.83 bp	6.4 bp −$6	112.2 bp −$1,122	doesn't fit	doesn't fit
Sell SunX live order book, 31 min ago	41.91 bp	102.6 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
Kraken Futures PF_AVAXUSD	−0.0262%	1h	10.910	+0.037%	$3.8M	$11.6M	50x	as long as short
Nado AVAX-PERP	−0.0180%	1h	10.895	−0.105%	$275K	$315K	10x	as long as short
Phemex AVAXUSDT	−0.0165%	8h	10.898	−0.073%	$29.1M	$5.6M	50x	as long as short
Variational Omni AVAX	−0.0082%	8h	10.909	+0.027%	$3.1M	$2.1M	—	as long as short
SoDEX AVAX-USD	−0.0065%	1h	10.904	−0.018%	$19K	$68K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.904	−0.016%	$93K	$111K	10x	as long as short
Deribit AVAX_USDC-PERPETUALlong	0.0000%	1h	10.906	long leg	$5.0M	$6.7M	25x
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.907	+0.006%	$12K	—	150x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	−1.339%	$17K	$151K	12x	as long as short
Gate AVAX_USDT	+0.0049%	8h	10.905	−0.009%	$14.2M	$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	10.895	−0.098%	$12K	$62	20x	as long as short
Lighter AVAX	+0.0096%	1h	10.905	−0.010%	$1.2M	$2.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.892	−0.128%	$19K	$475K	50x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.923	+0.156%	$36.0M	$39.8M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.907	+0.005%	$2.2M	$1.4M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.905	−0.005%	$274K	$127K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.906	+0.001%	$114.9M	$388.6M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.900	−0.055%	$85.2M	$135.8M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.901	−0.046%	$19.2M	$106.4M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.905	−0.009%	$54.4M	$80.5M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.906	0.000%	$14.0M	$20.3M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.905	−0.009%	$33.2M	$45.1M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.906	0.000%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.912	+0.055%	$441K	$528K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.926	+0.183%	$343K	$1.3M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.905	−0.009%	$175K	$661K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.900	−0.055%	$137K	$234K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.908	+0.018%	$236K	$221K	20x	as long as short
SunX AVAX-USDTshort	+0.0100%	8h	10.932	+0.238%	$12K	$775K	20x
HTX AVAX-USDT	+0.0100%	8h	10.895	−0.100%	$338K	$872K	75x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.902	−0.039%	$622K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.897	−0.078%	$250K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0200%	1h	10.905	−0.009%	$859K	$5.3M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.900	−0.055%	$4.7M	$5.3M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.903	−0.025%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0294%	1h	10.906	−0.004%	$230K	—	120x	as long as short