Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0124%/8h= +13.6% APRpaid last 24h +0.020%

Price spread now: BloFin against Lighter−0.445%90s7-day average +0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs+$9as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$240.238% of the position

Long on Lighter Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.327%+$33 on $10k

Price spread, last 4 days (all we have)+0.393%+$39 · spread now −0.445%, 7d avg +0.032%

Together, before fees+0.721%+ Points / potential airdropLighter: Season 3 · farm board+$72 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.477% cheaper against Lighter than usual: you would sell low and buy high (spread −0.445% now, against its 7-day average of +0.032%). If the spread goes back, that is −$48 on $10k: about 13 days of funding at the current rate (+$4 a day). The two prices were read 90 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter AVAX	10.772	0.0096	pay 0.0012% / 1h	53m 21s	$1.2M	$2.0M	10x
Short	BloFin AVAX-USDT	10.724	0.0220	get 0.0220% / 8h	7h 53m	$4.7M	$5.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.445%Rate

Funding earned: $26.04
Price spread: −0.445% → +0.032%: −$47.7
Slippage, 4 orders: −$11.82
Fee Lighter: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$45.49
Costs to cover: 0.238%
Break-even: 19.2 days

Slippage from Lighter: live order book, 3 min ago; BloFin: 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	2.38 bp	3.2 bp −$3	12.3 bp −$123	87.2 bp −$8,718	doesn't fit
Sell BloFin live order book, 5 min ago	0.47 bp	8.3 bp −$8	14.2 bp −$142	45.0 bp −$4,499	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
Nado AVAX-PERP	−0.0323%	1h	10.771	−0.008%	$291K	$324K	10x	as long as short
Kraken Futures PF_AVAXUSD	−0.0266%	1h	10.765	−0.062%	$3.8M	$11.6M	50x	as long as short
Variational Omni AVAX	−0.0075%	8h	10.715	−0.531%	$2.9M	$2.1M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.775	+0.029%	$92K	$111K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.766	−0.055%	$4.9M	$6.8M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.761	−0.101%	$12K	—	150x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	−0.110%	$17K	$151K	12x	as long as short
Gate AVAX_USDT	+0.0075%	8h	10.773	+0.010%	$13.4M	$28.5M	75x	as long as short
Phemex AVAXUSDT	+0.0076%	8h	10.764	−0.073%	$28.7M	$5.7M	50x	as long as short
GRVT AVAX_USDT_Perp	+0.0081%	8h	10.709	−0.585%	$342K	$1.2M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX AVAX-USD	+0.0092%	1h	10.763	−0.083%	$18K	$68K	10x	as long as short
Paradex AVAX-USD-PERP	+0.0093%	8h	10.767	−0.045%	$12K	$212	20x	as long as short
Lighter AVAXlong	+0.0096%	1h	10.772	long leg	$1.2M	$2.0M	10x
Popdex AVAXUSDT	+0.0096%	1h	10.775	+0.029%	$25K	$464K	50x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.800	+0.261%	$37.1M	$40.0M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.774	+0.019%	$2.2M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.773	+0.010%	$271K	$128K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.777	+0.047%	$114.1M	$399.8M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.779	+0.066%	$84.3M	$139.7M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.787	+0.140%	$18.9M	$107.2M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.784	+0.112%	$52.9M	$78.8M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.786	+0.131%	$13.9M	$21.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.788	+0.149%	$32.8M	$45.8M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.768	−0.036%	—	$53.2M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.765	−0.064%	$438K	$532K	15x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.713	−0.547%	$173K	$663K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.783	+0.103%	$135K	$287K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.773	+0.010%	$233K	$254K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.797	+0.236%	$12K	$769K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.762	−0.087%	$332K	$873K	75x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.764	−0.073%	$601K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.759	−0.115%	$247K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0200%	1h	10.774	+0.019%	$841K	$5.1M	50x	as long as short
BloFin AVAX-USDTshort	+0.0220%	8h	10.724	−0.445%	$4.7M	$5.4M	100x
Reya AVAXRUSDPERP	+0.0245%	1h	10.783	+0.106%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0443% / S −0.0294%	1h	10.772	−0.001%	$227K	—	120x	as long as short