Funding arb · Price arb /

AVAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.1463%/8h= +160.2% APRpaid last 24h +0.150%

Price spread now: GRVT against Injective+0.362%7-day average +0.399% · you sell dearer than you buy

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$109as in the Price arb table

costs, in and out, $10k−$1051.053% of the position

Long on Injective Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.365%+$36 on $10k

Price spread, last 3 days (all we have)−1.443%−$144 · spread now +0.362%, 7d avg +0.399%

Together, before fees−1.078%+ Points / potential airdropGRVT: Active · farm board−$108 on $10k · with fees, hour by hour

Funding pays, the price is against you. GRVT is 0.037% cheaper against Injective than usual: you would sell low and buy high (spread +0.362% now, against its 7-day average of +0.399%). If the spread goes back, that is −$4 on $10k: about 2 hours of funding at the current rate (+$44 a day). At the pace of the last 7 days (+0.365% in total) that is about 17 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.365% in total (about 19.0% 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	11.130	−0.1363	get 0.0170% / 1h	15m 08s	$17K	$151K	12x
Short	GRVT AVAX_USDT_Perp	11.170	0.0100	get 0.0100% / 8h	7h 15m	$352K	$847K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GRVTbpOrdersPrice spread, now +0.362%Rate

Funding earned: $307.2
Price spread: +0.362% → +0.399%: −$3.68
Slippage, 4 orders: −$96.23
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $198.27
Costs to cover: 1.053%
Break-even: 2.5 days

Slippage from Injective: live order book, 59 min ago; GRVT: 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 Injective live order book, 59 min ago	35.68 bp	53.4 bp −$53	doesn't fit	doesn't fit	doesn't fit
Sell GRVT live order book, 58 min ago	1.34 bp	8.6 bp −$9	14.7 bp −$147	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 PERPlong	−0.1363%	1h	11.130	long leg	$17K	$151K	12x
Deribit AVAX_USDC-PERPETUAL	−0.0107%	1h	11.187	+0.512%	$5.3M	$8.5M	25x	as long as short
Nado AVAX-PERP	−0.0057%	1h	11.189	+0.535%	$293K	$732K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.187	+0.508%	$103K	$105K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.190	+0.539%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.190	+0.542%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.187	+0.512%	$15K	$612K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.190	+0.535%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.190	+0.540%	$2.3M	$1.5M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.193	+0.566%	$297K	$100K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AVAXUSDT	+0.0100%	8h	11.191	+0.548%	$119.5M	$476.6M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.192	+0.557%	$89.1M	$147.6M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.190	+0.539%	$20.0M	$131.0M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.189	+0.530%	$12.1M	$38.3M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.191	+0.548%	$48.8M	$88.9M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.193	+0.566%	$15.4M	$23.0M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.192	+0.557%	$34.0M	$53.4M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.192	+0.557%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.193	+0.566%	$358K	$548K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.178	+0.429%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perpshort	+0.0100%	8h	11.170	+0.362%	$352K	$847K	10x
ApeX Omni AVAXUSDT	+0.0100%	1h	11.172	+0.377%	$180K	$688K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.190	+0.539%	$131K	$372K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.195	+0.584%	$197K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.217	+0.780%	$12K	$719K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.190	+0.539%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.191	+0.544%	$362K	$937K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.189	+0.530%	$30.0M	$5.1M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.187	+0.512%	$671K	$2.0M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.182	+0.470%	$257K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0215%	1h	11.194	+0.575%	$4.3M	$12.5M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.188	+0.521%	$5.0M	$6.2M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.187	+0.515%	$1K	—	20x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0304%	1h	11.197	+0.602%	$924K	$6.5M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0298%	1h	11.189	+0.526%	$236K	—	120x	as long as short
Hyperliquid AVAX	+0.0685%	1h	11.206	+0.683%	$43.8M	$49.6M	10x	as long as short