Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.007%

Price spread now: Binance against Lighter+0.003%7-day average +0.026% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$190.187% of the position

Long on Lighter Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.122%+$12 on $10k

Price spread, last 4 days (all we have)0.000%$0 · spread now +0.003%, 7d avg +0.026%

Together, before fees+0.122%+ Points / potential airdropLighter: Season 3 · farm board+$12 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: Binance is 0.023% cheaper against Lighter than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter AVAX	11.125	0.0096	pay 0.0012% / 1h	39m 11s	$1.2M	$3.1M	10x
Short	Binance AVAXUSDT	11.126	0.0100	get 0.0100% / 8h	7h 39m	$118.4M	$492.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Lighter. 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 LighterbpFee BinancebpOrdersPrice spread, now +0.003%Rate

Funding earned: $0.84
Price spread: +0.003% → +0.026%: −$2.27
Slippage, 4 orders: −$8.7
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$20.12
Costs to cover: 0.187%
Break-even: 174.7 days

Slippage from Lighter: live order book, 3 min ago; Binance: live order book, 5 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 Lighter live order book, 3 min ago	2.87 bp	3.0 bp −$3	9.7 bp −$97	80.9 bp −$8,088	doesn't fit
Sell Binance live order book, 5 min ago	0.45 bp	6.3 bp −$6	13.1 bp −$131	39.7 bp −$3,968	119.8 bp −$59.9K

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	−0.227%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0199%	1h	11.122	−0.030%	$5.3M	$8.7M	25x	as long as short
Nado AVAX-PERP	−0.0039%	1h	11.129	+0.033%	$292K	$842K	10x	as long as short
Gate AVAX_USDT	−0.0025%	8h	11.129	+0.033%	$12.2M	$38.1M	75x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.144	+0.164%	$103K	$105K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.129	+0.031%	$13K	—	150x	as long as short
Lighter AVAXlong	+0.0096%	1h	11.125	long leg	$1.2M	$3.1M	10x
Popdex AVAXUSDT	+0.0096%	1h	11.131	+0.051%	$18K	$636K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.135	+0.087%	$13K	$514	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.131	+0.056%	$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	+0.162%	$296K	$106K	10x	as long as short
Binance AVAXUSDTshort	+0.0100%	8h	11.126	+0.003%	$118.4M	$492.8M	75x
Bybit AVAXUSDT	+0.0100%	8h	11.127	+0.015%	$88.6M	$150.4M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.125	−0.003%	$19.9M	$135.7M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.129	+0.033%	$48.9M	$88.4M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.132	+0.060%	$15.4M	$23.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.130	+0.042%	$33.7M	$55.5M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.131	+0.051%	—	$86.0M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.129	+0.033%	$356K	$558K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.127	+0.013%	$2.9M	$2.4M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.123	−0.019%	$358K	$851K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.126	+0.006%	$179K	$688K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.134	+0.078%	$131K	$376K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.133	+0.069%	$196K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.171	+0.413%	$12K	$728K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.124	−0.012%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.124	−0.008%	$360K	$963K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.127	+0.015%	$29.9M	$4.9M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.121	−0.037%	$666K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.122	−0.029%	$255K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0216%	1h	11.128	+0.028%	$4.3M	$12.8M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.127	+0.015%	$5.0M	$6.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.131	+0.050%	$1K	—	20x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0304%	1h	11.159	+0.303%	$907K	$7.1M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0260%	1h	11.129	+0.032%	$249K	—	120x	as long as short
Hyperliquid AVAX	+0.0650%	1h	11.145	+0.177%	$43.5M	$51.0M	10x	as long as short