Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0143%/8h= +15.6% APRpaid last 24h +0.156%

Price spread now: Bitget against Injective+0.351%61s7-day average +0.155% · you sell dearer than you buy

Net, funding: paid 7d − costs−$76as 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−$1071.073% of the position

Long on Injective Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.316%+$32 on $10k

Price spread, last 3 days (all we have)−0.859%−$86 · spread now +0.351%, 7d avg +0.155%

Together, before fees−0.543%−$54 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Bitget is 0.197% dearer against Injective than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of +0.155%. 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	Injective AVAX/USDC PERP	11.100	−0.0043	get 0.0005% / 1h	56m 20s	$17K	$127K	12x
Short	Bitget AVAXUSDT	11.139	0.0100	get 0.0100% / 8h	2h 56m	$34.3M	$61.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.351%Rate

Funding earned: $29.96
Price spread: +0.351% → +0.155%: $19.68
Slippage, 4 orders: −$95.24
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$57.62
Costs to cover: 1.073%
Break-even: 20.5 days

Slippage from Injective: live order book, 32 min ago; Bitget: live order book, 3 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, 32 min ago	27.20 bp	63.4 bp −$63	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	0.45 bp	9.5 bp −$10	18.1 bp −$181	33.7 bp −$3,371	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	−0.0203%	8h	11.128	+0.249%	$2.9M	$2.1M	—	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0109%	1h	11.142	+0.378%	$5.3M	$9.4M	25x	as long as short
Nado AVAX-PERP	−0.0093%	1h	11.125	+0.230%	$298K	$963K	10x	as long as short
Injective AVAX/USDC PERPlong	−0.0043%	1h	11.100	long leg	$17K	$127K	12x
Extended AVAX-USD	−0.0040%	1h	11.138	+0.340%	$662K	$2.2M	25x	as long as short
Backpack AVAX_USDC_PERP	−0.0011%	1h	11.115	+0.135%	$316K	$552K	15x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.130	+0.270%	$98K	$132K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.132	+0.288%	$13K	—	150x	as long as short
Bybit AVAXUSDT	+0.0010%	8h	11.132	+0.288%	$85.5M	$147.8M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0025%	8h	11.135	+0.315%	$19.8M	$146.9M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate AVAX_USDT	+0.0042%	8h	11.125	+0.225%	$12.3M	$39.2M	75x	as long as short
SoDEX AVAX-USD	+0.0048%	1h	11.140	+0.360%	$19K	$72K	10x	as long as short
Phemex AVAXUSDT	+0.0051%	8h	11.136	+0.324%	$29.8M	$4.8M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0056%	1h	11.134	+0.306%	$902K	$8.1M	50x	as long as short
Binance AVAXUSDT	+0.0060%	8h	11.127	+0.243%	$119.4M	$541.4M	75x	as long as short
MEXC AVAX_USDT	+0.0060%	8h	11.119	+0.171%	$54.3M	$107.9M	200x	as long as short
Paradex AVAX-USD-PERP	+0.0093%	8h	11.121	+0.186%	$13K	$766	20x	as long as short
Lighter AVAX	+0.0096%	1h	11.141	+0.369%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.115	+0.135%	$17K	$698K	50x	as long as short
Aevo AVAX-PERP	+0.0096%	1h	11.133	+0.302%	$256K	—	3x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.113	+0.117%	$2.3M	$2.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.127	+0.247%	$296K	$122K	10x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.120	+0.180%	$16.2M	$24.7M	75x	as long as short
Bitget AVAXUSDTshort	+0.0100%	8h	11.139	+0.351%	$34.3M	$61.6M	75x
BingX AVAX-USDT	+0.0100%	8h	11.126	+0.234%	—	$90.4M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.122	+0.196%	$352K	$892K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.128	+0.252%	$179K	$685K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.121	+0.189%	$116K	$476K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.142	+0.378%	$200K	$302K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.149	+0.437%	$12K	$709K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.127	+0.248%	$355K	$1.2M	75x	as long as short
BloFin AVAX-USDT	+0.0181%	8h	11.111	+0.099%	$5.0M	$8.9M	100x	as long as short
Reya AVAXRUSDPERP	+0.0243%	1h	11.118	+0.160%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0258%	1h	11.150	+0.451%	$4.6M	$13.6M	50x	as long as short
Hyperliquid AVAX	+0.0379%	1h	11.136	+0.324%	$41.9M	$58.6M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0407% / S −0.0244%	1h	11.131	+0.275%	$240K	—	120x	as long as short