Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0055%/8h= +6.0% APRpaid last 24h +0.002%

Price spread now: Phemex against Kraken Futures−0.016%7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$490.491% of the position

Long on Kraken Futures Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.071%+$7 on $10k

Price spread, last 4 days (all we have)−0.008%−$1 · spread now −0.016%, 7d avg −0.023%

Together, before fees+0.063%+$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.023%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_AVAXUSD	11.151	0.0045	pay 0.0006% / 1h	12m 17s	$4.3M	$11.5M	50x
Short	Phemex AVAXUSDT	11.149	0.0100	get 0.0100% / 8h	5h 12m	$29.8M	$5.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.016%Rate

Funding earned: $11.48
Price spread: −0.016% → −0.023%: $0.63
Slippage, 4 orders: −$27.08
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$36.97
Costs to cover: 0.491%
Break-even: 29.5 days

Slippage from Kraken Futures: live order book, 2 min ago; Phemex: live order book, 2 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	1.79 bp	10.2 bp −$10	14.7 bp −$147	47.9 bp −$4,785	doesn't fit
Sell Phemex live order book, 2 min ago	2.23 bp	15.9 bp −$16	25.1 bp −$251	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
Injective AVAX/USDC PERP	−0.1374%	1h	11.130	−0.187%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0109%	1h	11.146	−0.043%	$5.2M	$7.9M	25x	as long as short
Nado AVAX-PERP	−0.0070%	1h	11.154	+0.028%	$287K	$397K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.155	+0.041%	$103K	$87K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.152	+0.011%	$13K	—	150x	as long as short
Kraken Futures PF_AVAXUSDlong	+0.0045%	1h	11.151	long leg	$4.3M	$11.5M	50x
Lighter AVAX	+0.0096%	1h	11.152	+0.012%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.152	+0.010%	$16K	$564K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.152	+0.012%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.156	+0.044%	$2.3M	$1.2M	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	11.155	+0.041%	$291K	$114K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.152	+0.010%	$119.4M	$430.9M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.150	−0.007%	$88.6M	$138.1M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.149	−0.016%	$20.3M	$117.0M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.151	+0.001%	$12.2M	$35.1M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.148	−0.025%	$49.0M	$79.6M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.155	+0.037%	$15.8M	$21.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.147	−0.034%	$33.6M	$48.4M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.151	+0.001%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.161	+0.091%	$330K	$498K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.196	+0.408%	$2.9M	$2.3M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.180	+0.259%	$353K	$813K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.185	+0.306%	$180K	$675K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.154	+0.028%	$131K	$349K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.155	+0.037%	$196K	$312K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.180	+0.264%	$12K	$701K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.148	−0.025%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.152	+0.015%	$365K	$866K	75x	as long as short
Phemex AVAXUSDTshort	+0.0100%	8h	11.149	−0.016%	$29.8M	$5.7M	50x
Extended AVAX-USD	+0.0104%	1h	11.144	−0.060%	$684K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.149	−0.018%	$256K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.160	+0.082%	$5.1M	$5.5M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.161	+0.091%	$896K	$5.4M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.147	−0.038%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.152	+0.007%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0579%	1h	11.171	+0.181%	$43.6M	$42.9M	10x	as long as short