Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1523%/8h= −166.7% APRpaid last 24h −0.239%

Price spread now: Injective against GRVT−0.399%7-day average −0.392% · you buy dearer than you sell

Net, funding: paid 7d − costs−$166as in the Funding arb table

Net, price: spread back to 7d avg − costs−$123as in the Price arb table

costs, in and out, $10k−$1221.224% of the position

Long on GRVT Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.440%−$44 on $10k

Price spread, last 4 days (all we have)+1.204%+$120 · spread now −0.399%, 7d avg −0.392%

Together, before fees+0.763%+ Points / potential airdropGRVT: Active · farm board+$76 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.392%, so right now this pair is about funding alone: −$46 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.440% in total (about -23.0% 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	GRVT AVAX_USDT_Perp	10.994	0.0100	pay 0.0100% / 8h	4h 02m	$344K	$883K	10x
Short	Injective AVAX/USDC PERP	10.950	−0.1423	pay 0.0178% / 1h	2m 08s	$17K	$151K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against GRVT. 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 GRVTbpFee InjectivebpOrdersPrice spread, now −0.399%Rate

Funding earned: −$319.74
Price spread: −0.399% → −0.392%: −$0.71
Slippage, 4 orders: −$113.38
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$442.85
Costs to cover: 1.224%
Break-even: never at this rate

Slippage from GRVT: live order book, 56 min ago; Injective: live order book, 57 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, 56 min ago	2.25 bp	15.0 bp −$15	30.0 bp −$300	doesn't fit	doesn't fit
Sell Injective live order book, 57 min ago	44.92 bp	44.9 bp −$45	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	−0.1423%	1h	10.950	−0.399%	$17K	$151K	12x
Deribit AVAX_USDC-PERPETUAL	−0.0023%	1h	10.996	+0.019%	$5.1M	$7.9M	25x	as long as short
Nado AVAX-PERP	−0.0010%	1h	10.990	−0.031%	$285K	$372K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.990	−0.032%	$96K	$97K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.994	+0.002%	$12K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	10.996	+0.019%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.992	−0.017%	$15K	$549K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	10.990	−0.033%	$12K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.995	+0.010%	$2.2M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.993	−0.011%	$277K	$129K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AVAXUSDT	+0.0100%	8h	10.996	+0.022%	$115.9M	$429.8M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.993	−0.008%	$85.0M	$139.6M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.994	+0.001%	$20.2M	$114.7M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	10.996	+0.019%	$12.1M	$34.7M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.997	+0.028%	$46.1M	$78.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.998	+0.037%	$15.5M	$21.7M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.992	−0.017%	$32.9M	$47.9M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.992	−0.017%	—	$78.4M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.996	+0.019%	$368K	$549K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	10.996	+0.015%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perplong	+0.0100%	8h	10.994	long leg	$344K	$883K	10x
ApeX Omni AVAXUSDT	+0.0100%	1h	10.998	+0.037%	$177K	$669K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.997	+0.028%	$129K	$345K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.001	+0.065%	$193K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.018	+0.220%	$12K	$716K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.996	+0.019%	$18K	$71K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.992	−0.022%	$366K	$812K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.998	+0.037%	$29.3M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.990	−0.036%	$678K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.993	−0.008%	$253K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0214%	1h	10.998	+0.033%	$4.2M	$11.3M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.991	−0.026%	$5.0M	$5.4M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.004	+0.092%	$891K	$5.2M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	10.994	−0.001%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	10.994	+0.005%	$233K	—	120x	as long as short
Hyperliquid AVAX	+0.0464%	1h	11.006	+0.110%	$42.7M	$41.9M	10x	as long as short