Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0284%/8h= +31.1% APRpaid last 24h −0.003%

Price spread now: GRVT against Kraken Futures−0.133%7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$460.459% of the position

Long on Kraken Futures Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.098%+$10 on $10k

Price spread, last 4 days (all we have)+0.271%+$27 · spread now −0.133%, 7d avg −0.042%

Together, before fees+0.369%+ Points / potential airdropGRVT: Active · farm board+$37 on $10k · with fees, hour by hour

Funding pays, the price is against you. GRVT is 0.091% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.133% now, against its 7-day average of −0.042%). If the spread goes back, that is −$9 on $10k: about 26 hours of funding at the current rate (+$9 a day). At the pace of the last 7 days (+0.098% in total) that is about 6.5 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.098% in total (about 5.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_AVAXUSD	10.930	−0.0184	get 0.0023% / 1h	20m 20s	$3.8M	$11.6M	50x
Short	GRVT AVAX_USDT_Perp	10.915	0.0100	get 0.0100% / 8h	6h 20m	$346K	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.133%Rate

Funding earned: $59.59
Price spread: −0.133% → −0.042%: −$9.14
Slippage, 4 orders: −$26.88
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $4.57
Costs to cover: 0.459%
Break-even: 6.5 days

Slippage from Kraken Futures: live order book, 2 min ago; GRVT: 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 Kraken Futures live order book, 2 min ago	2.29 bp	11.6 bp −$12	15.2 bp −$152	44.1 bp −$4,407	doesn't fit
Sell GRVT live order book, 1 min ago	1.37 bp	11.7 bp −$12	29.3 bp −$293	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
Kraken Futures PF_AVAXUSDlong	−0.0184%	1h	10.930	long leg	$3.8M	$11.6M	50x
Variational Omni AVAX	−0.0128%	8h	10.917	−0.114%	$3.0M	$2.1M	—	as long as short
Gate AVAX_USDT	−0.0082%	8h	10.928	−0.016%	$14.4M	$28.4M	75x	as long as short
Phemex AVAXUSDT	−0.0036%	8h	10.922	−0.071%	$29.1M	$5.5M	50x	as long as short
SoDEX AVAX-USD	−0.0021%	1h	10.925	−0.043%	$19K	$68K	10x	as long as short
Bybit AVAXUSDT	−0.0010%	8h	10.924	−0.052%	$85.2M	$134.6M	75x	as long as short
Nado AVAX-PERP	−0.0004%	1h	10.925	−0.043%	$278K	$309K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.933	+0.028%	$93K	$110K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.931	+0.012%	$5.0M	$6.6M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0002%	1h	10.928	−0.018%	$23K	—	150x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	−1.553%	$17K	$151K	12x	as long as short
Lighter AVAX	+0.0096%	1h	10.928	−0.012%	$1.2M	$2.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.929	−0.007%	$20K	$444K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0099%	8h	10.925	−0.045%	$12K	$62	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.928	−0.017%	$2.3M	$1.3M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.929	−0.005%	$275K	$125K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.927	−0.024%	$115.2M	$381.6M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.927	−0.025%	$19.5M	$105.7M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.928	−0.016%	$53.1M	$72.9M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.931	+0.012%	$14.3M	$19.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.929	−0.007%	$33.2M	$44.6M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.925	−0.043%	—	$52.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.930	+0.003%	$441K	$535K	15x	as long as short
GRVT AVAX_USDT_Perpshort	+0.0100%	8h	10.915	−0.133%	$346K	$1.4M	10x
ApeX Omni AVAXUSDT	+0.0100%	1h	10.903	−0.244%	$175K	$661K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.928	−0.016%	$138K	$247K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.934	+0.039%	$236K	$218K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.953	+0.209%	$12K	$778K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.928	−0.011%	$325K	$942K	75x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.923	−0.060%	$619K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.928	−0.020%	$251K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0192%	1h	10.905	−0.226%	$860K	$5.2M	50x	as long as short
Hyperliquid AVAX	+0.0195%	1h	10.946	+0.149%	$36.3M	$39.0M	10x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.920	−0.089%	$4.8M	$5.3M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.923	−0.059%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0294%	1h	10.929	−0.002%	$231K	—	120x	as long as short