Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h +0.049%

Price spread now: Phemex against Extended−0.064%7-day average +0.094% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$420.423% of the position

Long on Extended Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.098%+$10 on $10k

Price spread, last 3 days (all we have)−0.094%−$9 · spread now −0.064%, 7d avg +0.094%

Together, before fees+0.005%+ Points / potential airdropExtended: Active · farm board$0 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phemex is 0.158% cheaper against Extended than usual: you would sell low and buy high (spread −0.064% now, against its 7-day average of +0.094%). If the spread goes back, that is −$16 on $10k: about 12 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended AVAX-USD	11.287	0.0024	pay 0.0003% / 1h	25m 48s	$672K	$2.3M	25x
Short	Phemex AVAXUSDT	11.280	0.0068	get 0.0068% / 8h	2h 25m	$30.2M	$4.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Extended. 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 ExtendedbpFee PhemexbpOrdersPrice spread, now −0.064%Rate

Funding earned: $9.24
Price spread: −0.064% → +0.094%: −$15.79
Slippage, 4 orders: −$25.3
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$48.85
Costs to cover: 0.423%
Break-even: 44.0 days

Slippage from Extended: live order book, 3 min ago; Phemex: live order book, 3 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 Extended live order book, 3 min ago	0.89 bp	6.0 bp −$6	8.2 bp −$82	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	2.22 bp	13.5 bp −$14	23.3 bp −$233	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
Variational Omni AVAX	−0.0142%	8h	11.251	−0.321%	$2.9M	$2.1M	—	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0104%	1h	11.284	−0.029%	$5.3M	$9.4M	25x	as long as short
Nado AVAX-PERP	−0.0097%	1h	11.279	−0.068%	$298K	$960K	10x	as long as short
Injective AVAX/USDC PERP	−0.0043%	1h	11.260	−0.241%	$17K	$151K	12x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.288	+0.005%	$99K	$115K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0004%	1h	11.288	+0.004%	$16K	—	150x	as long as short
Extended AVAX-USDlong	+0.0024%	1h	11.287	long leg	$672K	$2.3M	25x
Coinbase International AVAX-PERP-INTX	+0.0056%	1h	11.293	+0.051%	$915K	$8.2M	50x	as long as short
OKX AVAX-USDT-SWAP	+0.0062%	8h	11.289	+0.016%	$20.1M	$148.6M	50x	as long as short
Gate AVAX_USDT	+0.0063%	8h	11.288	+0.007%	$12.6M	$40.1M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex AVAXUSDTshort	+0.0068%	8h	11.280	−0.064%	$30.2M	$4.8M	50x
MEXC AVAX_USDT	+0.0083%	8h	11.285	−0.020%	$55.5M	$109.7M	200x	as long as short
Binance AVAXUSDT	+0.0084%	8h	11.286	−0.011%	$121.0M	$536.9M	75x	as long as short
Bybit AVAXUSDT	+0.0096%	8h	11.292	+0.042%	$89.4M	$154.5M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.289	+0.011%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.280	−0.064%	$7K	$700K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0096%	8h	11.278	−0.083%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.289	+0.019%	$2.3M	$1.9M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.289	+0.014%	$300K	$122K	10x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.291	+0.033%	$16.2M	$24.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.288	+0.007%	$34.9M	$61.2M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.288	+0.007%	—	$90.3M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.289	+0.016%	$335K	$563K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.246	−0.362%	$356K	$910K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.249	−0.339%	$181K	$684K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.283	−0.037%	$131K	$480K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.293	+0.051%	$203K	$302K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.311	+0.207%	$12K	$716K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.282	−0.046%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.284	−0.024%	$362K	$1.1M	75x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.285	−0.020%	$259K	—	3x	as long as short
BloFin AVAX-USDT	+0.0203%	8h	11.294	+0.060%	$5.0M	$8.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.281	−0.058%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0254%	1h	11.291	+0.034%	$4.7M	$13.5M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0405% / S −0.0245%	1h	11.286	−0.009%	$243K	—	120x	as long as short
Hyperliquid AVAX	+0.0578%	1h	11.307	+0.175%	$43.7M	$58.6M	10x	as long as short