Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.001%

Price spread now: GRVT against Lighter−0.652%7-day average +0.050% · you buy dearer than you sell

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$98as in the Price arb table

costs, in and out, $10k−$280.279% of the position

Long on Lighter Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.154%+$15 on $10k

Price spread, last 7 days+0.763%+$76 · spread now −0.652%, 7d avg +0.050%

Together, before fees+0.917%+ Points / potential airdropLighter: Season 3 · GRVT: Active · farm board+$92 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: GRVT is 0.702% cheaper against Lighter than usual: you would sell low and buy high, −$70 on $10k if it goes back to its 7-day average of +0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter AVAX	10.596	0.0096	pay 0.0012% / 1h	19m 30s	$1.2M	$2.6M	10x
Short	GRVT AVAX_USDT_Perp	10.527	0.0100	get 0.0100% / 8h	2h 19m	$337K	$978K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.652%Rate

Funding earned: $0.84
Price spread: −0.652% → +0.050%: −$70.16
Slippage, 4 orders: −$18.89
Fee Lighter: 0 bp × 2 orders: $0
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$97.21
Costs to cover: 0.279%
Break-even: 817.1 days

Slippage from Lighter: live order book, 3 min ago; GRVT: live order book, 28 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	4.17 bp	4.4 bp −$4	10.8 bp −$108	82.2 bp −$8,223	doesn't fit
Sell GRVT live order book, 28 min ago	1.89 bp	6.9 bp −$7	15.0 bp −$150	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	−0.1423%	1h	10.760	+1.547%	$17K	$152K	12x	as long as short
Kraken Futures PF_AVAXUSD	−0.0282%	1h	10.576	−0.190%	$4.2M	$11.5M	50x	as long as short
Nado AVAX-PERP	−0.0054%	1h	10.617	+0.193%	$285K	$342K	10x	as long as short
Variational Omni AVAX	−0.0027%	8h	10.535	−0.580%	$2.7M	$2.2M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.599	+0.028%	$88K	$117K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.572	−0.227%	$4.7M	$7.5M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.570	−0.244%	$12K	—	150x	as long as short
Gate AVAX_USDT	+0.0019%	8h	10.603	+0.065%	$12.3M	$32.8M	75x	as long as short
Backpack AVAX_USDC_PERP	+0.0034%	1h	10.588	−0.076%	$369K	$563K	15x	as long as short
Bybit AVAXUSDT	+0.0066%	8h	10.609	+0.122%	$78.2M	$145.2M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AVAXlong	+0.0096%	1h	10.596	long leg	$1.2M	$2.6M	10x
Popdex AVAXUSDT	+0.0096%	1h	10.619	+0.216%	$18K	$437K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0096%	8h	10.599	+0.023%	$12K	$212	20x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.623	+0.255%	$38.0M	$44.0M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.612	+0.146%	$2.1M	$1.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.601	+0.047%	$265K	$131K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.617	+0.200%	$113.0M	$431.8M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.609	+0.122%	$18.7M	$112.3M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.609	+0.122%	$43.9M	$80.5M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.594	−0.020%	$13.2M	$22.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.611	+0.141%	$32.1M	$49.2M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.611	+0.141%	—	$6.5M	—	as long as short
GRVT AVAX_USDT_Perpshort	+0.0100%	8h	10.527	−0.652%	$337K	$978K	10x
ApeX Omni AVAXUSDT	+0.0100%	1h	10.532	−0.605%	$170K	$662K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.618	+0.207%	$132K	$354K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.575	−0.199%	$172K	$304K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.607	+0.099%	$12K	$758K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.573	−0.218%	$17K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.575	−0.194%	$344K	$804K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.572	−0.227%	$28.2M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.608	+0.117%	$636K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.566	−0.279%	$243K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0216%	1h	10.549	−0.445%	$836K	$4.8M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.545	−0.482%	$4.6M	$5.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.611	+0.139%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0271%	1h	10.569	−0.251%	$231K	—	120x	as long as short