Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.022%

Price spread now: Backpack against HTX−0.004%52s7-day average +0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs−$105as 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−$870.868% of the position

Long on HTX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.178%−$18 on $10k

Price spread, last 3 days (all we have)+0.123%+$12 · spread now −0.004%, 7d avg +0.038%

Together, before fees−0.054%−$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.043% cheaper against HTX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.038%. The two prices were read 52 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	HTX AVAX-USDT	11.235	0.0100	pay 0.0100% / 8h	1h 00m	$363K	$1.0M	75x
Short	Backpack AVAX_USDC_PERP	11.234	0.0100	get 0.0013% / 1h	0m 13s	$359K	$568K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against HTX. 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 HTXbpFee BackpackbpOrdersPrice spread, now −0.004%Rate

Funding earned: $0
Price spread: −0.004% → +0.038%: −$4.27
Slippage, 4 orders: −$64.84
Fee HTX: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$91.11
Costs to cover: 0.868%
Break-even: never at this rate

Slippage from HTX: live order book, 3 min ago; Backpack: live order book, 19 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 HTX live order book, 3 min ago	23.79 bp	41.5 bp −$42	129.8 bp −$1,298	doesn't fit	doesn't fit
Sell Backpack live order book, 19 min ago	0.44 bp	5.4 bp −$5	26.1 bp −$261	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	−0.0570%	1h	11.180	−0.485%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0106%	1h	11.237	+0.022%	$5.3M	$9.1M	25x	as long as short
Nado AVAX-PERP	−0.0044%	1h	11.230	−0.036%	$296K	$892K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.235	+0.007%	$103K	$111K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.236	+0.013%	$13K	—	150x	as long as short
Variational Omni AVAX	+0.0036%	8h	11.226	−0.076%	$3.0M	$2.4M	—	as long as short
Lighter AVAX	+0.0096%	1h	11.237	+0.019%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.232	−0.022%	$18K	$687K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0099%	8h	11.225	−0.080%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.235	+0.001%	$2.3M	$1.8M	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	11.232	−0.018%	$298K	$120K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.234	−0.004%	$120.1M	$523.3M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.233	−0.013%	$89.2M	$157.1M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.232	−0.022%	$20.2M	$145.9M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.235	+0.004%	$12.5M	$40.8M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.233	−0.013%	$51.2M	$100.4M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.239	+0.040%	$15.8M	$24.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.241	+0.058%	$34.3M	$59.8M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.232	−0.022%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERPshort	+0.0100%	1h	11.234	−0.004%	$359K	$568K	15x
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.220	−0.132%	$358K	$877K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.224	−0.093%	$180K	$686K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.236	+0.013%	$134K	$459K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.241	+0.058%	$204K	$303K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.261	+0.235%	$12K	$735K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.238	+0.031%	$19K	$72K	10x	as long as short
HTX AVAX-USDTlong	+0.0100%	8h	11.235	long leg	$363K	$1.0M	75x
Phemex AVAXUSDT	+0.0100%	8h	11.234	−0.004%	$30.2M	$5.0M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.235	+0.007%	$670K	$2.2M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.262	+0.246%	$259K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0192%	1h	11.248	+0.120%	$918K	$8.1M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.234	−0.004%	$5.0M	$8.0M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.232	−0.023%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0414% / S −0.0263%	1h	11.235	+0.009%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0573%	1h	11.252	+0.156%	$43.5M	$56.7M	10x	as long as short
Kraken Futures PF_AVAXUSD	+0.0629%	1h	11.242	+0.069%	$4.6M	$13.4M	50x	as long as short