Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0670%/8h= +73.3% APRpaid last 24h +0.153%

Price spread now: Binance against Injective+0.359%57s7-day average +0.189% · you sell dearer than you buy

Net, funding: paid 7d − costs−$70as 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−$1001.004% of the position

Long on Injective Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.306%+$31 on $10k

Price spread, last 3 days (all we have)−1.081%−$108 · spread now +0.359%, 7d avg +0.189%

Together, before fees−0.775%−$78 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and Binance is 0.170% dearer against Injective than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of +0.189%. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.306% in total (about 16.0% 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	Injective AVAX/USDC PERP	11.230	−0.0570	get 0.0071% / 1h	52m 19s	$17K	$151K	12x
Short	Binance AVAXUSDT	11.270	0.0100	get 0.0100% / 8h	1h 52m	$120.8M	$528.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Injective. 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 InjectivebpFee BinancebpOrdersPrice spread, now +0.359%Rate

Funding earned: $140.62
Price spread: +0.359% → +0.189%: $16.97
Slippage, 4 orders: −$90.38
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Net: $57.18
Costs to cover: 1.004%
Break-even: 4.2 days

Slippage from Injective: live order book, 31 min ago; Binance: live order book, 6 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 Injective live order book, 31 min ago	35.37 bp	53.0 bp −$53	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 6 min ago	0.44 bp	5.7 bp −$6	11.4 bp −$114	40.7 bp −$4,071	128.1 bp −$64.1K

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 PERPlong	−0.0570%	1h	11.230	long leg	$17K	$151K	12x
Deribit AVAX_USDC-PERPETUAL	−0.0105%	1h	11.270	+0.356%	$5.4M	$9.2M	25x	as long as short
Variational Omni AVAX	−0.0055%	8h	11.344	+1.011%	$3.0M	$2.2M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	11.277	+0.417%	$99K	$107K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0004%	1h	11.272	+0.376%	$16K	—	150x	as long as short
Nado AVAX-PERP	+0.0002%	1h	11.276	+0.414%	$297K	$949K	10x	as long as short
Gate AVAX_USDT	+0.0092%	8h	11.276	+0.410%	$12.6M	$39.3M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.279	+0.435%	$1.3M	$3.2M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.276	+0.410%	$13K	$695K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0098%	8h	11.275	+0.397%	$13K	$766	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster AVAXUSDT	+0.0100%	8h	11.279	+0.440%	$2.3M	$1.9M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.280	+0.441%	$300K	$121K	10x	as long as short
Binance AVAXUSDTshort	+0.0100%	8h	11.270	+0.359%	$120.8M	$528.6M	75x
Bybit AVAXUSDT	+0.0100%	8h	11.272	+0.374%	$90.5M	$155.3M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.271	+0.365%	$20.3M	$147.2M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.275	+0.401%	$53.9M	$99.5M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.279	+0.436%	$16.2M	$24.4M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.272	+0.374%	$34.6M	$60.0M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.271	+0.365%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.274	+0.392%	$360K	$573K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.348	+1.051%	$359K	$895K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.347	+1.042%	$186K	$684K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.277	+0.419%	$134K	$465K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.280	+0.445%	$203K	$301K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.301	+0.633%	$12K	$722K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.272	+0.374%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.271	+0.361%	$363K	$1.1M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.271	+0.365%	$30.3M	$5.0M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.271	+0.369%	$673K	$2.2M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.270	+0.352%	$259K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0192%	1h	11.291	+0.543%	$918K	$8.4M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.268	+0.338%	$5.0M	$8.2M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.269	+0.350%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0406% / S −0.0245%	1h	11.271	+0.367%	$243K	—	120x	as long as short
Hyperliquid AVAX	+0.0466%	1h	11.291	+0.543%	$43.8M	$57.7M	10x	as long as short
Kraken Futures PF_AVAXUSD	+0.0627%	1h	11.281	+0.455%	$4.6M	$13.5M	50x	as long as short