Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.017%

Price spread now: Backpack against KuCoin+0.135%7-day average +0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$470.468% of the position

Long on KuCoin Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.052%−$5 on $10k

Price spread, last 4 days (all we have)−0.162%−$16 · spread now +0.135%, 7d avg +0.016%

Together, before fees−0.214%−$21 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.119% dearer against KuCoin than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of +0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin AVAXUSDTM	11.139	0.0100	pay 0.0100% / 8h	7h 39m	$15.4M	$23.5M	75x
Short	Backpack AVAX_USDC_PERP	11.154	0.0100	get 0.0013% / 1h	39m 13s	$357K	$558K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against KuCoin. 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 KuCoinbpFee BackpackbpOrdersPrice spread, now +0.135%Rate

Funding earned: $0
Price spread: +0.135% → +0.016%: $11.88
Slippage, 4 orders: −$24.77
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$34.89
Costs to cover: 0.468%
Break-even: never at this rate

Slippage from KuCoin: live order book, 10 min ago; Backpack: live order book, 35 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 KuCoin live order book, 10 min ago	0.90 bp	13.5 bp −$13	30.2 bp −$302	doesn't fit	doesn't fit
Sell Backpack live order book, 35 min ago	0.44 bp	8.4 bp −$8	33.6 bp −$336	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	−0.1363%	1h	11.100	−0.350%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0199%	1h	11.122	−0.153%	$5.3M	$8.7M	25x	as long as short
Nado AVAX-PERP	−0.0039%	1h	11.129	−0.090%	$292K	$842K	10x	as long as short
Gate AVAX_USDT	−0.0025%	8h	11.134	−0.045%	$12.2M	$38.1M	75x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.144	+0.041%	$103K	$105K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.129	−0.092%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.125	−0.123%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.131	−0.072%	$18K	$636K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.135	−0.036%	$13K	$514	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.139	0.000%	$2.3M	$1.6M	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	11.143	+0.038%	$296K	$106K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.126	−0.117%	$118.4M	$492.8M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.131	−0.072%	$88.6M	$150.4M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.125	−0.126%	$19.9M	$135.7M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.131	−0.072%	$48.9M	$88.4M	200x	as long as short
KuCoin AVAXUSDTMlong	+0.0100%	8h	11.139	long leg	$15.4M	$23.5M	75x
Bitget AVAXUSDT	+0.0100%	8h	11.128	−0.099%	$33.7M	$55.5M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.129	−0.090%	—	$86.0M	—	as long as short
Backpack AVAX_USDC_PERPshort	+0.0100%	1h	11.154	+0.135%	$357K	$558K	15x
Variational Omni AVAX	+0.0100%	8h	11.127	−0.110%	$2.9M	$2.4M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.123	−0.142%	$358K	$851K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.126	−0.117%	$179K	$688K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.134	−0.045%	$131K	$376K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.133	−0.054%	$196K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.171	+0.290%	$12K	$728K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.124	−0.135%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.124	−0.131%	$360K	$963K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.127	−0.108%	$29.9M	$4.9M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.121	−0.160%	$666K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.122	−0.152%	$255K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0216%	1h	11.128	−0.095%	$4.3M	$12.8M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.127	−0.108%	$5.0M	$6.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.131	−0.073%	$1K	—	20x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0304%	1h	11.159	+0.180%	$907K	$7.1M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0260%	1h	11.129	−0.091%	$249K	—	120x	as long as short
Hyperliquid AVAX	+0.0649%	1h	11.149	+0.090%	$43.5M	$51.0M	10x	as long as short