Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0075%/8h= +8.2% APRpaid last 24h +0.007%

Price spread now: Backpack against Gate+0.047%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$500.499% of the position

Long on Gate Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.027%−$3 on $10k

Price spread, last 4 days (all we have)−0.076%−$8 · spread now +0.047%, 7d avg +0.022%

Together, before fees−0.104%−$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Backpack is 0.024% dearer against Gate than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate AVAX_USDT	10.723	0.0025	pay 0.0025% / 8h	1h 08m	$12.9M	$32.4M	75x
Short	Backpack AVAX_USDC_PERP	10.728	0.0100	get 0.0013% / 1h	8m 58s	$437K	$562K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Gate. 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 GatebpFee BackpackbpOrdersPrice spread, now +0.047%Rate

Funding earned: $15.75
Price spread: +0.047% → +0.022%: $2.42
Slippage, 4 orders: −$24.91
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$31.74
Costs to cover: 0.499%
Break-even: 21.1 days

Slippage from Gate: live order book, 5 min ago; Backpack: live order book, 35 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, 5 min ago	0.93 bp	15.4 bp −$15	23.8 bp −$238	40.2 bp −$4,024	63.2 bp −$31.6K
Sell Backpack live order book, 35 min ago	1.40 bp	6.9 bp −$7	41.4 bp −$414	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
Nado AVAX-PERP	−0.0196%	1h	10.722	−0.014%	$282K	$340K	10x	as long as short
Variational Omni AVAX	−0.0059%	8h	10.719	−0.042%	$2.9M	$2.2M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.724	+0.009%	$92K	$111K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.731	+0.075%	$4.8M	$7.0M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.734	+0.101%	$12K	—	150x	as long as short
Gate AVAX_USDTlong	+0.0025%	8h	10.723	long leg	$12.9M	$32.4M	75x
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	+0.345%	$17K	$152K	12x	as long as short
SoDEX AVAX-USD	+0.0086%	1h	10.729	+0.056%	$18K	$72K	10x	as long as short
Paradex AVAX-USD-PERP	+0.0086%	8h	10.721	−0.023%	$12K	$212	20x	as long as short
Bybit AVAXUSDT	+0.0091%	8h	10.716	−0.065%	$81.8M	$146.0M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AVAX	+0.0096%	1h	10.728	+0.050%	$1.2M	$2.5M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.729	+0.056%	$20K	$466K	50x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.732	+0.084%	$37.2M	$43.5M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.726	+0.028%	$2.2M	$1.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.726	+0.023%	$269K	$129K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.721	−0.022%	$113.6M	$421.4M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.714	−0.084%	$18.9M	$111.9M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.728	+0.047%	$45.3M	$81.1M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.722	−0.009%	$13.7M	$22.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.718	−0.047%	$32.4M	$48.4M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.722	−0.009%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERPshort	+0.0100%	1h	10.728	+0.047%	$437K	$562K	15x
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.724	+0.013%	$342K	$1.1M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.730	+0.065%	$173K	$661K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.731	+0.075%	$135K	$353K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.739	+0.149%	$232K	$255K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.748	+0.238%	$11K	$768K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.727	+0.042%	$326K	$907K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.730	+0.065%	$28.6M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.723	+0.004%	$610K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.729	+0.056%	$246K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0113%	1h	10.729	+0.059%	$3.8M	$12.1M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0200%	1h	10.734	+0.103%	$854K	$5.1M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.732	+0.084%	$4.6M	$5.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.724	+0.007%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0443% / S −0.0294%	1h	10.734	+0.099%	$226K	—	120x	as long as short