Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.228%

Price spread now: KuCoin against Injective+1.245%7-day average +0.210% · you sell dearer than you buy

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$1241.245% of the position

Long on Injective Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.413%+$41 on $10k

Price spread, last 4 days (all we have)−1.964%−$196 · spread now +1.245%, 7d avg +0.210%

Together, before fees−1.551%−$155 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and KuCoin is 1.035% dearer against Injective than usual: you sell high and buy low: +$104 more if the spread goes back to its 7-day average of +0.210%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective AVAX/USDC PERP	10.760	0.0033	pay 0.0004% / 1h	50m 28s	$17K	$151K	12x
Short	KuCoin AVAXUSDTM	10.894	0.0100	get 0.0100% / 8h	4h 50m	$14.4M	$18.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +1.245%Rate

Funding earned: $14
Price spread: +1.245% → +0.210%: $103.55
Slippage, 4 orders: −$112.46
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$6.93
Costs to cover: 1.245%
Break-even: 10.5 days

Slippage from Injective: live order book, 56 min ago; KuCoin: live order book, 1 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, 56 min ago	32.30 bp	59.9 bp −$60	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 1 min ago	0.92 bp	17.1 bp −$17	28.3 bp −$283	doesn't fit	doesn't fit

AVAX on 36 exchanges

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	−0.0169%	8h	10.886	+1.167%	$3.1M	$1.9M	—	as long as short
Polymarket Perps AVAX-USD	−0.0145%	1h	10.890	+1.208%	$60K	$357K	10x	as long as short
Gate AVAX_USDT	−0.0120%	8h	10.889	+1.199%	$14.9M	$24.8M	75x	as long as short
Kraken Futures PF_AVAXUSD	−0.0114%	1h	10.888	+1.194%	$3.8M	$10.5M	50x	as long as short
Bybit AVAXUSDT	−0.0097%	8h	10.901	+1.310%	$85.0M	$128.4M	75x	as long as short
Phemex AVAXUSDT	−0.0021%	8h	10.892	+1.227%	$29.0M	$5.5M	50x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.892	+1.227%	$93K	$100K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.887	+1.180%	$5.0M	$6.5M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0002%	1h	10.889	+1.204%	$24K	—	150x	as long as short
SoDEX AVAX-USD	+0.0015%	1h	10.884	+1.152%	$19K	$65K	10x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado AVAX-PERP	+0.0024%	1h	10.883	+1.143%	$280K	$257K	10x	as long as short
Injective AVAX/USDC PERPlong	+0.0033%	1h	10.760	long leg	$17K	$151K	12x
OKX AVAX-USDT-SWAP	+0.0047%	8h	10.904	+1.338%	$19.3M	$98.3M	50x	as long as short
Paradex AVAX-USD-PERP	+0.0092%	8h	10.888	+1.185%	$12K	$62	20x	as long as short
Binance AVAXUSDT	+0.0093%	8h	10.907	+1.366%	$115.0M	$359.6M	75x	as long as short
MEXC AVAX_USDT	+0.0093%	8h	10.890	+1.208%	$53.8M	$66.6M	200x	as long as short
Lighter AVAX	+0.0096%	1h	10.889	+1.202%	$1.2M	$1.7M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.902	+1.320%	$24K	$427K	50x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.900	+1.301%	$2.3M	$1.2M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.891	+1.217%	$274K	$86K	10x	as long as short
KuCoin AVAXUSDTMshort	+0.0100%	8h	10.894	+1.245%	$14.4M	$18.1M	75x
Bitget AVAXUSDT	+0.0100%	8h	10.890	+1.208%	$33.2M	$41.6M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.893	+1.236%	—	$38.0M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.891	+1.217%	$391K	$566K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.912	+1.414%	$341K	$1.6M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.917	+1.459%	$155K	$678K	50x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.892	+1.227%	$238K	$211K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.915	+1.441%	$12K	$772K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.895	+1.250%	$328K	$897K	75x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.888	+1.192%	$621K	$1.3M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.879	+1.105%	$250K	—	3x	as long as short
Hyperliquid AVAX	+0.0153%	1h	10.904	+1.338%	$36.4M	$33.2M	10x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0208%	1h	10.897	+1.273%	$852K	$4.8M	50x	as long as short
BloFin AVAX-USDT	+0.0214%	8h	10.884	+1.152%	$4.7M	$5.2M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.889	+1.200%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0464% / S −0.0317%	1h	10.890	+1.208%	$241K	—	120x	as long as short