Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0407%/8h= −44.5% APRpaid last 24h +0.037%

Price spread now: BloFin against Kraken Futures+0.037%57s7-day average −0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$14as 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−$430.429% of the position

Long on Kraken Futures Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.286%+$29 on $10k

Price spread, last 3 days (all we have)−0.058%−$6 · spread now +0.037%, 7d avg −0.032%

Together, before fees+0.228%+$23 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.069% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.037% now, against its 7-day average of −0.032%): +$7 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 14 hours. Mind the row above: over the last 7 days funding on this pair paid +0.286%, so the current rate has only just turned against you. The two prices were read 57 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	Kraken Futures PF_AVAXUSD	11.284	0.0627	pay 0.0078% / 1h	19m 56s	$4.6M	$13.5M	50x
Short	BloFin AVAX-USDT	11.288	0.0220	get 0.0220% / 8h	1h 19m	$5.1M	$8.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Kraken Futures. 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 Kraken FuturesbpFee BloFinbpOrdersPrice spread, now +0.037%Rate

Funding earned: −$85.43
Price spread: +0.037% → −0.032%: $6.94
Slippage, 4 orders: −$20.87
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$121.36
Costs to cover: 0.429%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; BloFin: 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 Kraken Futures live order book, 4 min ago	2.66 bp	11.6 bp −$12	14.9 bp −$149	43.6 bp −$4,361	doesn't fit
Sell BloFin live order book, 4 min ago	1.33 bp	10.2 bp −$10	13.9 bp −$139	36.8 bp −$3,682	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 PERP	−0.0570%	1h	11.250	−0.300%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0105%	1h	11.277	−0.061%	$5.4M	$9.2M	25x	as long as short
Nado AVAX-PERP	−0.0037%	1h	11.281	−0.025%	$298K	$895K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.285	+0.011%	$104K	$112K	10x	as long as short
Variational Omni AVAX	+0.0001%	8h	11.275	−0.078%	$3.0M	$2.4M	—	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0004%	1h	11.282	−0.018%	$16K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.278	−0.047%	$1.3M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.279	−0.043%	$17K	$688K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0099%	8h	11.281	−0.026%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.282	−0.013%	$2.3M	$1.8M	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	11.282	−0.016%	$300K	$120K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.275	−0.078%	$120.6M	$525.6M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.275	−0.078%	$89.3M	$157.8M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.276	−0.069%	$20.3M	$146.7M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.279	−0.043%	$12.4M	$40.5M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.276	−0.069%	$52.1M	$100.1M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.287	+0.028%	$16.1M	$24.7M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.275	−0.078%	$34.2M	$60.1M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.277	−0.061%	—	$89.2M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.280	−0.034%	$361K	$570K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.247	−0.324%	$359K	$877K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.248	−0.318%	$181K	$686K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.281	−0.025%	$134K	$459K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.286	+0.019%	$203K	$301K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.312	+0.248%	$12K	$731K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.277	−0.061%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.281	−0.021%	$365K	$1.1M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.277	−0.061%	$30.3M	$5.0M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.274	−0.089%	$672K	$2.2M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.275	−0.078%	$259K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0192%	1h	11.295	+0.099%	$912K	$8.3M	50x	as long as short
BloFin AVAX-USDTshort	+0.0220%	8h	11.288	+0.037%	$5.1M	$8.0M	100x
Reya AVAXRUSDPERP	+0.0244%	1h	11.277	−0.060%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0407% / S −0.0252%	1h	11.281	−0.024%	$238K	—	120x	as long as short
Kraken Futures PF_AVAXUSDlong	+0.0627%	1h	11.284	long leg	$4.6M	$13.5M	50x
Hyperliquid AVAX	+0.0627%	1h	11.295	+0.099%	$43.7M	$56.8M	10x	as long as short