Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0199%/8h= +21.8% APRpaid last 24h +0.025%

Price spread now: ApeX Omni against Gate+0.184%81s7-day average +0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$570.569% of the position

Long on Gate Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.103%+$10 on $10k

Price spread, last 4 days (all we have)+0.214%+$21 · spread now +0.184%, 7d avg +0.051%

Together, before fees+0.318%+$32 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and ApeX Omni is 0.132% dearer against Gate than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.051%. The two prices were read 81 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.103% in total (about 5.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate AVAX_USDT	10.897	−0.0099	get 0.0099% / 8h	5h 58m	$14.5M	$26.6M	75x
Short	ApeX Omni AVAXUSDT	10.917	0.0100	get 0.0013% / 1h	58m 06s	$175K	$660K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Gate. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GatebpFee ApeX OmnibpOrdersPrice spread, now +0.184%Rate

Funding earned: $41.79
Price spread: +0.184% → +0.051%: $13.23
Slippage, 4 orders: −$31.89
Fee Gate: 7.5 bp × 2 orders: −$15
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$1.87
Costs to cover: 0.569%
Break-even: 7.3 days

Slippage from Gate: live order book, 4 min ago; ApeX Omni: live order book, 53 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 Gate live order book, 4 min ago	1.38 bp	15.3 bp −$15	22.2 bp −$222	40.4 bp −$4,045	67.6 bp −$33.8K
Sell ApeX Omni live order book, 53 min ago	5.55 bp	12.8 bp −$13	63.5 bp −$635	doesn't fit	doesn't fit

AVAX on 36 exchanges

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	−0.0139%	8h	10.909	+0.110%	$3.1M	$2.1M	—	as long as short
SoDEX AVAX-USD	−0.0131%	1h	10.895	−0.018%	$19K	$68K	10x	as long as short
Gate AVAX_USDTlong	−0.0099%	8h	10.897	long leg	$14.5M	$26.6M	75x
Kraken Futures PF_AVAXUSD	−0.0056%	1h	10.899	+0.019%	$3.8M	$11.0M	50x	as long as short
Bybit AVAXUSDT	−0.0036%	8h	10.891	−0.055%	$84.9M	$132.8M	75x	as long as short
Phemex AVAXUSDT	−0.0030%	8h	10.897	0.000%	$29.1M	$5.6M	50x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.915	+0.169%	$93K	$100K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.900	+0.028%	$5.0M	$6.7M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0002%	1h	10.902	+0.050%	$23K	—	150x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	−1.257%	$17K	$151K	12x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado AVAX-PERP	+0.0047%	1h	10.902	+0.046%	$277K	$302K	10x	as long as short
Lighter AVAX	+0.0096%	1h	10.898	+0.013%	$1.2M	$1.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.898	+0.009%	$23K	$441K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0099%	8h	10.900	+0.024%	$12K	$62	20x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.909	+0.110%	$36.3M	$38.1M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.897	−0.004%	$2.2M	$1.3M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.907	+0.092%	$274K	$122K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.894	−0.028%	$115.1M	$375.9M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.890	−0.064%	$19.4M	$103.2M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.893	−0.037%	$53.7M	$69.0M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.900	+0.028%	$14.3M	$19.1M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.895	−0.018%	$33.1M	$44.0M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.893	−0.037%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.899	+0.018%	$440K	$527K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.913	+0.146%	$350K	$1.5M	10x	as long as short
ApeX Omni AVAXUSDTshort	+0.0100%	1h	10.917	+0.184%	$175K	$660K	50x
Polymarket Perps AVAX-USD	+0.0100%	1h	10.898	+0.009%	$138K	$247K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.907	+0.092%	$236K	$217K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.928	+0.281%	$11K	$774K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.902	+0.041%	$327K	$948K	75x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.890	−0.061%	$618K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.902	+0.042%	$250K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0208%	1h	10.924	+0.248%	$863K	$5.1M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.902	+0.046%	$4.8M	$5.2M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.892	−0.047%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0294%	1h	10.912	+0.135%	$230K	—	120x	as long as short