Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.110%

Price spread now: Deribit against MEXC−0.141%7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$150.151% of the position

Long on MEXC Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.595%−$59 on $10k

Price spread, last 4 days (all we have)−0.019%−$2 · spread now −0.141%, 7d avg −0.028%

Together, before fees−0.614%−$61 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.113% cheaper against MEXC than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.028%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC AVAX_USDT	10.636	0.0100	pay 0.0100% / 8h	2h 16m	$44.0M	$80.6M	200x
Short	Deribit AVAX_USDC-PERPETUAL	10.621	0	get 0.0000% / 1h	16m 09s	$4.7M	$7.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against MEXC. 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 MEXCbpFee DeribitbpOrdersPrice spread, now −0.141%Rate

Funding earned: −$21
Price spread: −0.141% → −0.028%: −$11.28
Slippage, 4 orders: −$8.06
Fee MEXC: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$47.34
Costs to cover: 0.151%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; Deribit: live order book, 3 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 MEXC live order book, 3 min ago	0.47 bp	2.1 bp −$2	5.8 bp −$58	44.2 bp −$4,421	94.7 bp −$47.3K
Sell Deribit live order book, 3 min ago	1.41 bp	7.0 bp −$7	33.7 bp −$337	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	+1.166%	$17K	$152K	12x	as long as short
Kraken Futures PF_AVAXUSD	−0.0281%	1h	10.629	−0.069%	$4.2M	$11.5M	50x	as long as short
Nado AVAX-PERP	−0.0058%	1h	10.608	−0.263%	$285K	$340K	10x	as long as short
Variational Omni AVAX	−0.0027%	8h	10.535	−0.953%	$2.7M	$2.2M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.620	−0.152%	$88K	$117K	10x	as long as short
Deribit AVAX_USDC-PERPETUALshort	0.0000%	1h	10.621	−0.141%	$4.7M	$7.5M	25x
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.621	−0.141%	$12K	—	150x	as long as short
Gate AVAX_USDT	+0.0018%	8h	10.625	−0.103%	$12.3M	$32.9M	75x	as long as short
Bybit AVAXUSDT	+0.0064%	8h	10.623	−0.122%	$78.3M	$145.3M	75x	as long as short
Backpack AVAX_USDC_PERP	+0.0073%	1h	10.639	+0.028%	$422K	$588K	15x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AVAX	+0.0096%	1h	10.625	−0.101%	$1.2M	$2.6M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.619	−0.160%	$18K	$437K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0097%	8h	10.618	−0.169%	$12K	$212	20x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.642	+0.056%	$37.5M	$44.5M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.625	−0.104%	$2.1M	$1.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.617	−0.182%	$266K	$131K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.628	−0.071%	$114.0M	$432.3M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.635	−0.009%	$18.7M	$112.7M	50x	as long as short
MEXC AVAX_USDTlong	+0.0100%	8h	10.636	long leg	$44.0M	$80.6M	200x
KuCoin AVAXUSDTM	+0.0100%	8h	10.620	−0.150%	$13.2M	$22.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.634	−0.019%	$32.2M	$49.2M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.636	0.000%	—	$54.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.614	−0.203%	$342K	$988K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.612	−0.226%	$171K	$662K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.619	−0.160%	$132K	$353K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.631	−0.047%	$215K	$338K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.649	+0.120%	$12K	$761K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.619	−0.160%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.607	−0.271%	$345K	$804K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.627	−0.085%	$28.3M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.615	−0.201%	$636K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.620	−0.151%	$244K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0216%	1h	10.620	−0.150%	$934K	$5.0M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.584	−0.489%	$4.7M	$5.7M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.616	−0.189%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0271%	1h	10.618	−0.169%	$232K	—	120x	as long as short