Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0080%/8h= +8.8% APRpaid last 24h −0.028%

Price spread now: Bybit against Kraken Futures−0.116%7-day average −0.085% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$430.433% of the position

Long on Kraken Futures Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.288%+$29 · spread now −0.116%, 7d avg −0.085%

Together, before fees+0.290%+$29 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.031% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.116% now, against its 7-day average of −0.085%). If the spread goes back, that is −$3 on $10k: about 30 hours of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.002% in total) that is about 3 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_AVAXUSD	10.995	0.0020	pay 0.0002% / 1h	56m 10s	$4.2M	$11.2M	50x
Short	Bybit AVAXUSDT	10.982	0.0100	get 0.0100% / 8h	3h 56m	$85.0M	$139.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Kraken Futures. 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 Kraken FuturesbpFee BybitbpOrdersPrice spread, now −0.116%Rate

Funding earned: $16.89
Price spread: −0.116% → −0.085%: −$3.06
Slippage, 4 orders: −$22.33
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$29.49
Costs to cover: 0.433%
Break-even: 19.2 days

Slippage from Kraken Futures: live order book, 3 min ago; Bybit: live order book, 3 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, 3 min ago	2.27 bp	11.1 bp −$11	16.1 bp −$161	47.2 bp −$4,721	doesn't fit
Sell Bybit live order book, 3 min ago	0.46 bp	10.8 bp −$11	16.7 bp −$167	37.3 bp −$3,730	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	−0.1421%	1h	10.940	−0.498%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0114%	1h	10.993	−0.016%	$5.1M	$7.8M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.980	−0.138%	$96K	$97K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.986	−0.077%	$12K	—	150x	as long as short
Kraken Futures PF_AVAXUSDlong	+0.0020%	1h	10.995	long leg	$4.2M	$11.2M	50x
Nado AVAX-PERP	+0.0033%	1h	10.979	−0.147%	$285K	$317K	10x	as long as short
Lighter AVAX	+0.0096%	1h	10.992	−0.029%	$1.2M	$2.7M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.979	−0.143%	$15K	$458K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	10.979	−0.140%	$12K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.990	−0.044%	$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	10.981	−0.124%	$277K	$129K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.987	−0.066%	$115.8M	$428.5M	75x	as long as short
Bybit AVAXUSDTshort	+0.0100%	8h	10.982	−0.116%	$85.0M	$139.4M	75x
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.984	−0.097%	$20.2M	$114.0M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	10.990	−0.043%	$12.1M	$32.1M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.990	−0.043%	$45.7M	$77.9M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.996	+0.012%	$15.5M	$21.7M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.991	−0.034%	$33.0M	$47.6M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.986	−0.079%	—	$77.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.990	−0.043%	$368K	$547K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	10.987	−0.074%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.995	+0.002%	$351K	$882K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.999	+0.039%	$177K	$671K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.978	−0.152%	$129K	$345K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.999	+0.039%	$193K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.024	+0.268%	$12K	$717K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.992	−0.025%	$18K	$71K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.990	−0.047%	$366K	$811K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.995	+0.003%	$29.3M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.989	−0.056%	$678K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.990	−0.046%	$252K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.986	−0.079%	$5.0M	$5.3M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.003	+0.075%	$894K	$5.3M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	10.973	−0.200%	$1K	—	20x	as long as short
Hyperliquid AVAX	+0.0308%	1h	11.004	+0.084%	$42.7M	$41.9M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	10.986	−0.083%	$233K	—	120x	as long as short