Funding arb · Price arb /

AVAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0200%/8h= −21.9% APRpaid last 24h −0.017%

Price spread now: Nado against HTX−0.087%7-day average +0.023% · 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−$104as in the Price arb table

costs, in and out, $10k−$930.930% of the position

Long on HTX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.024%−$2 on $10k

Price spread, last 3 days (all we have)+0.316%+$32 · spread now −0.087%, 7d avg +0.023%

Together, before fees+0.292%+ Points / potential airdropNado: Active · farm board+$29 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Nado is 0.110% cheaper against HTX than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.023%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.024% in total (about -2.9% 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	HTX AVAX-USDT	11.267	0.0100	pay 0.0100% / 8h	2h 30m	$362K	$1.1M	75x
Short	Nado AVAX-PERP	11.257	−0.0100	pay 0.0013% / 1h	30m 20s	$297K	$956K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.087%Rate

Funding earned: −$42.01
Price spread: −0.087% → +0.023%: −$10.97
Slippage, 4 orders: −$73.99
Fee HTX: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$145.97
Costs to cover: 0.930%
Break-even: never at this rate

Slippage from HTX: live order book, 3 min ago; Nado: live order book, 58 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	28.45 bp	41.8 bp −$42	118.9 bp −$1,189	doesn't fit	doesn't fit
Sell Nado live order book, 58 min ago	1.36 bp	6.5 bp −$7	16.9 bp −$169	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
Variational Omni AVAX	−0.0142%	8h	11.251	−0.145%	$2.9M	$2.1M	—	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0105%	1h	11.261	−0.056%	$5.3M	$9.4M	25x	as long as short
Nado AVAX-PERPshort	−0.0100%	1h	11.257	−0.087%	$297K	$956K	10x
Injective AVAX/USDC PERP	−0.0043%	1h	11.100	−1.485%	$17K	$127K	12x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.258	−0.080%	$99K	$115K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.262	−0.047%	$13K	—	150x	as long as short
Extended AVAX-USD	+0.0016%	1h	11.259	−0.077%	$669K	$2.3M	25x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0056%	1h	11.275	+0.068%	$914K	$8.2M	50x	as long as short
Gate AVAX_USDT	+0.0057%	8h	11.267	−0.003%	$12.7M	$39.9M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0058%	8h	11.260	−0.065%	$20.0M	$148.1M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex AVAXUSDT	+0.0062%	8h	11.276	+0.077%	$30.2M	$4.8M	50x	as long as short
MEXC AVAX_USDT	+0.0077%	8h	11.264	−0.029%	$55.2M	$109.4M	200x	as long as short
Binance AVAXUSDT	+0.0078%	8h	11.275	+0.068%	$120.9M	$538.0M	75x	as long as short
Bybit AVAXUSDT	+0.0083%	8h	11.281	+0.122%	$87.3M	$153.2M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.272	+0.041%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.261	−0.056%	$9K	$700K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0096%	8h	11.255	−0.106%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.269	+0.015%	$2.3M	$1.9M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.259	−0.074%	$299K	$122K	10x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.269	+0.015%	$16.1M	$24.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.261	−0.056%	$34.6M	$61.0M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.261	−0.056%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.259	−0.074%	$334K	$562K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.240	−0.247%	$356K	$910K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.238	−0.260%	$181K	$684K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.269	+0.015%	$131K	$483K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.268	+0.006%	$203K	$302K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.290	+0.199%	$12K	$715K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.260	−0.065%	$19K	$72K	10x	as long as short
HTX AVAX-USDTlong	+0.0100%	8h	11.267	long leg	$362K	$1.1M	75x
Aevo AVAX-PERP	+0.0104%	1h	11.256	−0.102%	$259K	—	3x	as long as short
BloFin AVAX-USDT	+0.0198%	8h	11.246	−0.189%	$5.0M	$8.5M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.266	−0.015%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.271	+0.034%	$4.7M	$13.7M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0405% / S −0.0245%	1h	11.260	−0.062%	$243K	—	120x	as long as short
Hyperliquid AVAX	+0.0540%	1h	11.286	+0.166%	$43.7M	$58.5M	10x	as long as short