Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0083%/8h= +9.1% APRpaid last 24h +0.022%

Price spread now: Phemex against dYdX+0.006%7-day average +0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$304as in the Funding arb table

Net, price: spread back to 7d avg − costs−$323as in the Price arb table

costs, in and out, $10k−$3203.201% of the position

Long on dYdX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.164%+$16 on $10k

Price spread, last 3 days (all we have)−0.197%−$20 · spread now +0.006%, 7d avg +0.034%

Together, before fees−0.033%−$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phemex is 0.028% cheaper against dYdX than usual: you would sell low and buy high (spread +0.006% now, against its 7-day average of +0.034%). If the spread goes back, that is −$3 on $10k: about 27 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX AVAX-USD	11.275	0	get 0.0000% / 1h	20m 16s	$99K	$115K	10x
Short	Phemex AVAXUSDT	11.276	0.0083	get 0.0083% / 8h	2h 20m	$30.2M	$4.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against dYdX. 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 dYdXbpFee PhemexbpOrdersPrice spread, now +0.006%Rate

Funding earned: $17.43
Price spread: +0.006% → +0.034%: −$2.84
Slippage, 4 orders: −$298.06
Fee dYdX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$305.48
Costs to cover: 3.201%
Break-even: 129.7 days

Slippage from dYdX: live order book, 4 min ago; Phemex: live order book, 4 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 dYdX live order book, 4 min ago	142.74 bp	147.7 bp −$148	147.7 bp −$1,477	162.2 bp −$16.2K	185.2 bp −$92.6K
Sell Phemex live order book, 4 min ago	2.21 bp	13.7 bp −$14	25.3 bp −$253	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
Deribit AVAX_USDC-PERPETUAL	−0.0193%	1h	11.278	+0.024%	$5.3M	$9.4M	25x	as long as short
Variational Omni AVAX	−0.0113%	8h	11.284	+0.076%	$2.9M	$2.1M	—	as long as short
Nado AVAX-PERP	−0.0087%	1h	11.268	−0.061%	$298K	$960K	10x	as long as short
Injective AVAX/USDC PERP	−0.0043%	1h	11.260	−0.136%	$17K	$152K	12x	as long as short
dYdX AVAX-USDlong	0.0000%	1h	11.275	long leg	$99K	$115K	10x
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0004%	1h	11.277	+0.012%	$16K	—	150x	as long as short
Extended AVAX-USD	+0.0048%	1h	11.275	−0.001%	$672K	$2.2M	25x	as long as short
Gate AVAX_USDT	+0.0053%	8h	11.267	−0.074%	$12.6M	$40.2M	75x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0056%	1h	11.279	+0.033%	$914K	$8.2M	50x	as long as short
OKX AVAX-USDT-SWAP	+0.0071%	8h	11.291	+0.139%	$20.0M	$148.7M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex AVAXUSDTshort	+0.0083%	8h	11.276	+0.006%	$30.2M	$4.9M	50x
MEXC AVAX_USDT	+0.0089%	8h	11.263	−0.109%	$55.4M	$110.1M	200x	as long as short
Binance AVAXUSDT	+0.0089%	8h	11.275	−0.003%	$120.8M	$537.6M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.276	+0.006%	$1.3M	$3.2M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.262	−0.118%	$9K	$705K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0097%	8h	11.259	−0.144%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.269	−0.060%	$2.3M	$1.9M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.274	−0.016%	$299K	$122K	10x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.293	+0.157%	$89.5M	$155.4M	75x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.267	−0.074%	$16.1M	$24.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.277	+0.015%	$34.7M	$61.3M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.276	+0.006%	—	$90.3M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.292	+0.148%	$334K	$563K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.323	+0.423%	$358K	$909K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.325	+0.441%	$182K	$683K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.266	−0.083%	$131K	$479K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.284	+0.077%	$203K	$302K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.288	+0.116%	$12K	$719K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.276	+0.006%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.275	+0.002%	$361K	$1.1M	75x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.274	−0.012%	$259K	—	3x	as long as short
BloFin AVAX-USDT	+0.0209%	8h	11.289	+0.121%	$5.0M	$8.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.262	−0.114%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0254%	1h	11.285	+0.086%	$4.6M	$13.7M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0405% / S −0.0245%	1h	11.273	−0.017%	$243K	—	120x	as long as short
Hyperliquid AVAX	+0.0619%	1h	11.285	+0.086%	$44.0M	$58.7M	10x	as long as short