Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0209%/8h= −22.9% APRpaid last 24h −0.142%

Price spread now: Deribit against GRVT+0.205%75s7-day average −0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$89as 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−$280.277% of the position

Long on GRVT Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.611%−$61 on $10k

Price spread, last 3 days (all we have)−0.256%−$26 · spread now +0.205%, 7d avg −0.027%

Together, before fees−0.867%+ Points / potential airdropGRVT: Active · farm board−$87 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.233% dearer against GRVT than usual: you sell high and buy low (spread +0.205% now, against its 7-day average of −0.027%): +$23 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 3.7 days. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT AVAX_USDT_Perp	11.123	0.0100	pay 0.0100% / 8h	7h 39m	$358K	$851K	10x
Short	Deribit AVAX_USDC-PERPETUAL	11.146	−0.0109	pay 0.0014% / 1h	39m 58s	$5.3M	$8.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against GRVT. 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 GRVTbpFee DeribitbpOrdersPrice spread, now +0.205%Rate

Funding earned: −$43.84
Price spread: +0.205% → −0.027%: $23.28
Slippage, 4 orders: −$11.73
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$48.28
Costs to cover: 0.277%
Break-even: never at this rate

Slippage from GRVT: live order book, 33 min ago; Deribit: 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 GRVT live order book, 33 min ago	1.34 bp	7.6 bp −$8	11.6 bp −$116	doesn't fit	doesn't fit
Sell Deribit live order book, 4 min ago	0.45 bp	3.9 bp −$4	37.1 bp −$371	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 PERP	−0.1363%	1h	11.090	−0.298%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUALshort	−0.0109%	1h	11.146	+0.205%	$5.3M	$8.7M	25x
Nado AVAX-PERP	−0.0041%	1h	11.136	+0.111%	$292K	$853K	10x	as long as short
Gate AVAX_USDT	−0.0023%	8h	11.150	+0.241%	$12.2M	$38.1M	75x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.138	+0.137%	$102K	$105K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.148	+0.222%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.149	+0.233%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.145	+0.196%	$18K	$641K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.144	+0.183%	$13K	$514	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.150	+0.241%	$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	11.138	+0.134%	$296K	$117K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.147	+0.212%	$118.6M	$496.6M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.145	+0.196%	$88.7M	$150.6M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.139	+0.143%	$20.0M	$136.5M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.145	+0.196%	$49.0M	$88.4M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.153	+0.268%	$15.4M	$23.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.143	+0.179%	$33.7M	$55.7M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.151	+0.250%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.154	+0.277%	$357K	$558K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.127	+0.033%	$2.9M	$2.4M	—	as long as short
GRVT AVAX_USDT_Perplong	+0.0100%	8h	11.123	long leg	$358K	$851K	10x
ApeX Omni AVAXUSDT	+0.0100%	1h	11.144	+0.187%	$179K	$688K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.148	+0.223%	$131K	$385K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.154	+0.277%	$196K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.177	+0.487%	$12K	$730K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.149	+0.232%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.149	+0.228%	$361K	$963K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.149	+0.232%	$30.0M	$4.9M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.137	+0.122%	$666K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.144	+0.185%	$256K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0216%	1h	11.152	+0.261%	$4.3M	$12.9M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.134	+0.098%	$5.0M	$6.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.144	+0.191%	$1K	—	20x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0304%	1h	11.159	+0.322%	$907K	$7.1M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0260%	1h	11.147	+0.213%	$249K	—	120x	as long as short
Hyperliquid AVAX	+0.0651%	1h	11.170	+0.421%	$43.6M	$53.8M	10x	as long as short