Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.283%

Price spread now: SunX against Injective+1.825%61s7-day average +0.491% · you sell dearer than you buy

Net, funding: paid 7d − costs−$194as 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−$2452.454% of the position

Long on Injective Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.512%+$51 on $10k

Price spread, last 4 days (all we have)−2.527%−$253 · spread now +1.825%, 7d avg +0.491%

Together, before fees−2.015%−$201 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 SunX is 1.334% dearer against Injective than usual: you sell high and buy low: +$133 more if the spread goes back to its 7-day average of +0.491%. 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	10.760	0.0033	pay 0.0004% / 1h	16m 07s	$17K	$151K	12x
Short	SunX AVAX-USDT	10.956	0.0100	get 0.0100% / 8h	7h 16m	$12K	$770K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +1.825%Rate

Funding earned: $14
Price spread: +1.825% → +0.491%: $133.4
Slippage, 4 orders: −$237.42
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee SunX: 4 bp × 2 orders: −$8
Net: −$98.04
Costs to cover: 2.454%
Break-even: 56.0 days

Slippage from Injective: live order book, 18 min ago; SunX: live order book, 26 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, 18 min ago	27.96 bp	59.5 bp −$60	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 26 min ago	41.91 bp	102.6 bp −$103	doesn't fit	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
Kraken Futures PF_AVAXUSD	−0.0262%	1h	10.927	+1.556%	$3.8M	$11.6M	50x	as long as short
Nado AVAX-PERP	−0.0202%	1h	10.913	+1.427%	$274K	$314K	10x	as long as short
Phemex AVAXUSDT	−0.0136%	8h	10.916	+1.450%	$29.1M	$5.6M	50x	as long as short
Variational Omni AVAX	−0.0083%	8h	10.849	+0.826%	$3.0M	$2.1M	—	as long as short
SoDEX AVAX-USD	−0.0075%	1h	10.925	+1.533%	$19K	$68K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.910	+1.397%	$93K	$111K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.933	+1.608%	$5.0M	$6.7M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.889	+1.194%	$12K	—	150x	as long as short
Injective AVAX/USDC PERPlong	+0.0033%	1h	10.760	long leg	$17K	$151K	12x
Gate AVAX_USDT	+0.0051%	8h	10.918	+1.468%	$14.1M	$29.4M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex AVAX-USD-PERP	+0.0088%	8h	10.893	+1.236%	$12K	$62	20x	as long as short
Lighter AVAX	+0.0096%	1h	10.924	+1.520%	$1.2M	$2.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.903	+1.329%	$23K	$469K	50x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.929	+1.571%	$36.1M	$39.7M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.917	+1.461%	$2.3M	$1.4M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.895	+1.254%	$274K	$127K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.914	+1.430%	$115.2M	$389.1M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.918	+1.468%	$85.4M	$136.7M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.919	+1.478%	$19.3M	$106.9M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.922	+1.506%	$53.8M	$80.0M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.927	+1.552%	$14.1M	$20.4M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.912	+1.413%	$33.2M	$45.1M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.912	+1.413%	—	$53.0M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.921	+1.496%	$442K	$531K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.851	+0.842%	$341K	$1.3M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.858	+0.911%	$175K	$661K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.913	+1.422%	$137K	$234K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.934	+1.617%	$236K	$222K	20x	as long as short
SunX AVAX-USDTshort	+0.0100%	8h	10.956	+1.825%	$12K	$770K	20x
HTX AVAX-USDT	+0.0100%	8h	10.940	+1.669%	$339K	$872K	75x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.920	+1.489%	$622K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.928	+1.566%	$251K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0200%	1h	10.941	+1.682%	$872K	$5.3M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.873	+1.050%	$4.7M	$5.3M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.865	+0.975%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0294%	1h	10.891	+1.213%	$230K	—	120x	as long as short