Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.1521%/8h= +166.6% APRpaid last 24h +0.227%

Price spread now: MEXC against Injective+0.768%7-day average +0.209% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$1011.012% of the position

Long on Injective Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.392%+$39 on $10k

Price spread, last 4 days (all we have)−1.495%−$149 · spread now +0.768%, 7d avg +0.209%

Together, before fees−1.103%−$110 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$46 a day on $10k at the current rate, and MEXC is 0.559% dearer against Injective than usual: you sell high and buy low: +$56 more if the spread goes back to its 7-day average of +0.209%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.392% in total (about 20.4% 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	10.940	−0.1421	get 0.0178% / 1h	55m 07s	$17K	$151K	12x
Short	MEXC AVAX_USDT	11.024	0.0100	get 0.0100% / 8h	3h 55m	$45.8M	$77.9M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.768%Rate

Funding earned: $319.44
Price spread: +0.768% → +0.209%: $55.91
Slippage, 4 orders: −$101.17
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee MEXC: 0 bp × 2 orders: $0
Net: $274.16
Costs to cover: 1.012%
Break-even: 1.0 days

Slippage from Injective: live order book, 64 min ago; MEXC: live order book, 4 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, 64 min ago	44.92 bp	53.9 bp −$54	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	0.46 bp	1.2 bp −$1	4.6 bp −$46	38.2 bp −$3,822	100.7 bp −$50.3K

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	−0.1421%	1h	10.940	long leg	$17K	$151K	12x
Nado AVAX-PERP	−0.0006%	1h	11.002	+0.569%	$286K	$316K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.009	+0.627%	$96K	$97K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	11.020	+0.731%	$5.1M	$7.8M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.014	+0.676%	$12K	—	150x	as long as short
Kraken Futures PF_AVAXUSD	+0.0019%	1h	11.024	+0.765%	$4.2M	$11.2M	50x	as long as short
Lighter AVAX	+0.0096%	1h	11.020	+0.735%	$1.2M	$2.7M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.006	+0.603%	$15K	$457K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.002	+0.566%	$12K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.007	+0.613%	$2.2M	$1.1M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AVAX	+0.0100%	1h	11.011	+0.646%	$277K	$129K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.023	+0.755%	$116.2M	$428.3M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.023	+0.759%	$85.3M	$139.4M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.024	+0.768%	$20.2M	$114.4M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.009	+0.631%	$12.1M	$32.1M	75x	as long as short
MEXC AVAX_USDTshort	+0.0100%	8h	11.024	+0.768%	$45.8M	$77.9M	200x
KuCoin AVAXUSDTM	+0.0100%	8h	11.025	+0.777%	$15.5M	$21.7M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.022	+0.750%	$33.0M	$47.6M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.022	+0.750%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.026	+0.786%	$369K	$547K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	10.987	+0.426%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.988	+0.439%	$345K	$891K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.993	+0.484%	$177K	$671K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.012	+0.658%	$129K	$345K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.023	+0.759%	$194K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.042	+0.934%	$12K	$717K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.019	+0.722%	$18K	$71K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.020	+0.727%	$367K	$811K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.024	+0.768%	$29.4M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.012	+0.658%	$678K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.012	+0.663%	$253K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.024	+0.768%	$5.0M	$5.4M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.029	+0.814%	$896K	$5.2M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.009	+0.628%	$1K	—	20x	as long as short
Hyperliquid AVAX	+0.0350%	1h	11.040	+0.914%	$42.8M	$41.9M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.014	+0.679%	$234K	—	120x	as long as short