Funding arb · Price arb /

AVAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.1316%/8h= −144.1% APRpaid last 24h −0.139%

Price spread now: Injective against Gate−0.413%69s7-day average −0.188% · you buy dearer than you sell

Net, funding: paid 7d − costs−$147as 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−$1191.190% of the position

Long on Gate Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.280%−$28 on $10k

Price spread, last 3 days (all we have)+1.422%+$142 · spread now −0.413%, 7d avg −0.188%

Together, before fees+1.142%+$114 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$39 a day on $10k at the current rate, and Injective is 0.225% cheaper against Gate than usual: you would sell low and buy high (−$23 if the spread goes back to its 7-day average of −0.188%). Swap the legs. The two prices were read 69 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 -0.280% in total (about -14.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate AVAX_USDT	11.136	−0.0047	get 0.0047% / 8h	7h 41m	$12.2M	$38.1M	75x
Short	Injective AVAX/USDC PERP	11.090	−0.1363	pay 0.0170% / 1h	41m 58s	$17K	$151K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.413%Rate

Funding earned: −$276.33
Price spread: −0.413% → −0.188%: −$22.52
Slippage, 4 orders: −$103.95
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$417.82
Costs to cover: 1.190%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; Injective: live order book, 32 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, 2 min ago	1.35 bp	15.3 bp −$15	23.3 bp −$233	43.4 bp −$4,341	72.6 bp −$36.3K
Sell Injective live order book, 32 min ago	35.68 bp	35.7 bp −$36	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
Injective AVAX/USDC PERPshort	−0.1363%	1h	11.090	−0.413%	$17K	$151K	12x
Deribit AVAX_USDC-PERPETUAL	−0.0289%	1h	11.122	−0.126%	$5.3M	$8.7M	25x	as long as short
Gate AVAX_USDTlong	−0.0047%	8h	11.136	long leg	$12.2M	$38.1M	75x
Nado AVAX-PERP	−0.0033%	1h	11.119	−0.148%	$292K	$853K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.126	−0.093%	$102K	$105K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.127	−0.081%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.138	+0.014%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.127	−0.081%	$18K	$644K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.125	−0.103%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.133	−0.030%	$2.3M	$1.6M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AVAX	+0.0100%	1h	11.125	−0.101%	$295K	$117K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.135	−0.007%	$118.4M	$497.3M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.134	−0.018%	$88.6M	$151.5M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.128	−0.072%	$20.0M	$137.7M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.131	−0.045%	$48.8M	$88.3M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.142	+0.054%	$15.4M	$23.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.131	−0.045%	$33.7M	$56.1M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.138	+0.018%	—	$85.9M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.139	+0.027%	$356K	$563K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.125	−0.101%	$2.9M	$2.4M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.140	+0.037%	$359K	$851K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.144	+0.072%	$179K	$688K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.128	−0.072%	$131K	$386K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.132	−0.036%	$196K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.156	+0.181%	$12K	$730K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.128	−0.072%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.114	−0.198%	$360K	$963K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.133	−0.027%	$29.9M	$4.9M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.127	−0.084%	$666K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.121	−0.132%	$255K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0216%	1h	11.133	−0.030%	$4.3M	$12.9M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.124	−0.108%	$5.0M	$6.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.124	−0.105%	$1K	—	20x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0304%	1h	11.143	+0.063%	$905K	$7.2M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0260%	1h	11.127	−0.082%	$248K	—	120x	as long as short
Hyperliquid AVAX	+0.0654%	1h	11.157	+0.189%	$43.5M	$53.7M	10x	as long as short