Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0143%/8h= −15.6% APRpaid last 24h −0.004%

Price spread now: Nado against GRVT−0.171%61s7-day average +0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$420.419% of the position

Long on GRVT Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.018%−$2 on $10k

Price spread, last 4 days (all we have)−0.104%−$10 · spread now −0.171%, 7d avg +0.011%

Together, before fees−0.122%+ Points / potential airdropGRVT: Active · Nado: Active · farm board−$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Nado is 0.182% cheaper against GRVT than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of +0.011%). Swap the legs. The two prices were read 61 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	11.120	0.0100	pay 0.0100% / 8h	6h 24m	$355K	$810K	10x
Short	Nado AVAX-PERP	11.101	−0.0043	pay 0.0005% / 1h	24m 24s	$286K	$508K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.171%Rate

Funding earned: −$29.97
Price spread: −0.171% → +0.011%: −$18.15
Slippage, 4 orders: −$25.92
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$90.04
Costs to cover: 0.419%
Break-even: never at this rate

Slippage from GRVT: live order book, 44 min ago; Nado: live order book, 44 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, 44 min ago	3.57 bp	11.1 bp −$11	19.8 bp −$198	doesn't fit	doesn't fit
Sell Nado live order book, 44 min ago	0.89 bp	7.5 bp −$7	15.1 bp −$151	doesn't fit	doesn't fit

AVAX on 35 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	−0.1423%	1h	11.080	−0.364%	$17K	$151K	12x	as long as short
Nado AVAX-PERPshort	−0.0043%	1h	11.101	−0.171%	$286K	$508K	10x
Deribit AVAX_USDC-PERPETUAL	−0.0020%	1h	11.114	−0.058%	$5.2M	$8.3M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.114	−0.062%	$102K	$96K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.107	−0.119%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0048%	8h	11.107	−0.121%	$12.1M	$36.6M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.114	−0.058%	$1.2M	$3.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.105	−0.139%	$15K	$593K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.103	−0.153%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.110	−0.094%	$2.3M	$1.4M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AVAX	+0.0100%	1h	11.116	−0.042%	$295K	$107K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.108	−0.114%	$118.4M	$459.5M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.106	−0.130%	$88.5M	$143.5M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.110	−0.094%	$19.9M	$123.7M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.107	−0.121%	$48.8M	$82.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.111	−0.085%	$15.5M	$22.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.106	−0.130%	$33.4M	$51.1M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.108	−0.112%	—	$83.4M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.115	−0.049%	$355K	$535K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.122	+0.011%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perplong	+0.0100%	8h	11.120	long leg	$355K	$810K	10x
ApeX Omni AVAXUSDT	+0.0100%	1h	11.110	−0.094%	$179K	$677K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.110	−0.094%	$130K	$363K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.116	−0.040%	$195K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.137	+0.153%	$12K	$717K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.115	−0.049%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.084	−0.327%	$360K	$938K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.118	−0.022%	$29.7M	$5.6M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.102	−0.166%	$671K	$1.7M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.106	−0.129%	$255K	—	3x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.105	−0.137%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.120	−0.004%	$4.3M	$11.9M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0288%	1h	11.112	−0.076%	$903K	$5.9M	50x	as long as short
Hyperliquid AVAX	+0.0398%	1h	11.121	+0.005%	$43.2M	$45.6M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.107	−0.120%	$236K	—	120x	as long as short