Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.007%

Price spread now: Phemex against MEXC+0.131%7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$380.384% of the position

Long on MEXC Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.021%+$2 on $10k

Price spread, last 4 days (all we have)−0.252%−$25 · spread now +0.131%, 7d avg +0.020%

Together, before fees−0.231%−$23 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: Phemex is 0.110% dearer against MEXC than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of +0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC AVAX_USDT	10.711	0.0100	pay 0.0100% / 8h	2h 12m	$45.1M	$80.8M	200x
Short	Phemex AVAXUSDT	10.725	0.0100	get 0.0100% / 8h	2h 12m	$28.6M	$5.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.131%Rate

Funding earned: $0
Price spread: +0.131% → +0.020%: $11.04
Slippage, 4 orders: −$26.43
Fee MEXC: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$27.39
Costs to cover: 0.384%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; Phemex: live order book, 6 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, 1 min ago	1.40 bp	1.4 bp −$1	2.7 bp −$27	32.2 bp −$3,225	99.3 bp −$49.7K
Sell Phemex live order book, 6 min ago	7.07 bp	16.2 bp −$16	31.5 bp −$315	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	+0.457%	$17K	$152K	12x	as long as short
Kraken Futures PF_AVAXUSD	−0.0278%	1h	10.723	+0.115%	$4.2M	$11.6M	50x	as long as short
Nado AVAX-PERP	−0.0075%	1h	10.725	+0.126%	$284K	$341K	10x	as long as short
Variational Omni AVAX	−0.0034%	8h	10.610	−0.945%	$2.8M	$2.2M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.719	+0.072%	$89K	$117K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.725	+0.131%	$4.8M	$7.6M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.723	+0.115%	$12K	—	150x	as long as short
Gate AVAX_USDT	+0.0025%	8h	10.713	+0.019%	$12.4M	$33.0M	75x	as long as short
Bybit AVAXUSDT	+0.0066%	8h	10.712	+0.009%	$80.8M	$147.4M	75x	as long as short
Lighter AVAX	+0.0096%	1h	10.720	+0.088%	$1.2M	$2.6M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex AVAXUSDT	+0.0096%	1h	10.724	+0.121%	$18K	$434K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0097%	8h	10.725	+0.129%	$12K	$212	20x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.730	+0.177%	$37.7M	$44.6M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.717	+0.060%	$2.2M	$1.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.717	+0.057%	$268K	$131K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.713	+0.016%	$114.6M	$433.8M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.717	+0.056%	$19.0M	$114.1M	50x	as long as short
MEXC AVAX_USDTlong	+0.0100%	8h	10.711	long leg	$45.1M	$80.8M	200x
KuCoin AVAXUSDTM	+0.0100%	8h	10.712	+0.009%	$13.2M	$22.9M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.710	−0.009%	$32.4M	$49.4M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.715	+0.037%	—	$54.3M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.725	+0.131%	$428K	$588K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.639	−0.673%	$343K	$988K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.649	−0.579%	$172K	$662K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.729	+0.168%	$134K	$354K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.729	+0.168%	$217K	$338K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.747	+0.333%	$12K	$763K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.718	+0.065%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.723	+0.107%	$348K	$812K	75x	as long as short
Phemex AVAXUSDTshort	+0.0100%	8h	10.725	+0.131%	$28.6M	$5.8M	50x
Extended AVAX-USD	+0.0104%	1h	10.707	−0.042%	$643K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.720	+0.079%	$246K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0216%	1h	10.733	+0.205%	$932K	$5.2M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.722	+0.103%	$4.7M	$5.8M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.722	+0.105%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0295%	1h	10.725	+0.134%	$227K	—	120x	as long as short