Funding arb · Price arb /

AVAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0231%/8h= +25.3% APRpaid last 24h +0.009%

Price spread now: Aster against Nado−0.102%7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$350.348% of the position

Long on Nado Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.017%+$2 on $10k

Price spread, last 3 days (all we have)−0.166%−$17 · spread now −0.102%, 7d avg −0.028%

Together, before fees−0.149%+ Points / potential airdropNado: Active · Aster: Stage 5 · farm board−$15 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 0.074% cheaper against Nado than usual: you would sell low and buy high (spread −0.102% now, against its 7-day average of −0.028%). If the spread goes back, that is −$7 on $10k: about 26 hours of funding at the current rate (+$7 a day). At the pace of the last 3 days (+0.017% in total) that is about 14 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.017% in total (about 1.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado AVAX-PERP	11.254	−0.0131	get 0.0016% / 1h	58m 01s	$297K	$892K	10x
Short	Aster AVAXUSDT	11.242	0.0100	get 0.0100% / 8h	58m 01s	$2.3M	$1.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Nado. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 NadobpFee AsterbpOrdersPrice spread, now −0.102%Rate

Funding earned: $48.53
Price spread: −0.102% → −0.028%: −$7.39
Slippage, 4 orders: −$19.84
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: $6.3
Costs to cover: 0.348%
Break-even: 6.1 days

Slippage from Nado: live order book, 20 min ago; Aster: 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 Nado live order book, 20 min ago	1.33 bp	10.0 bp −$10	26.6 bp −$266	doesn't fit	doesn't fit
Sell Aster live order book, 5 min ago	2.23 bp	8.7 bp −$9	18.1 bp −$181	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	−0.1451%	1h	11.190	−0.569%	$17K	$151K	12x	as long as short
Nado AVAX-PERPlong	−0.0131%	1h	11.254	long leg	$297K	$892K	10x
Deribit AVAX_USDC-PERPETUAL	−0.0106%	1h	11.239	−0.133%	$5.3M	$9.0M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.257	+0.024%	$104K	$111K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.246	−0.071%	$13K	—	150x	as long as short
Variational Omni AVAX	+0.0036%	8h	11.226	−0.249%	$3.0M	$2.4M	—	as long as short
Lighter AVAX	+0.0096%	1h	11.243	−0.101%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.247	−0.062%	$18K	$687K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.253	−0.007%	$13K	$766	20x	as long as short
Aster AVAXUSDTshort	+0.0100%	8h	11.242	−0.102%	$2.3M	$1.8M	75x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AVAX	+0.0100%	1h	11.253	−0.008%	$299K	$120K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.232	−0.193%	$120.1M	$522.5M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.231	−0.204%	$89.5M	$157.0M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.232	−0.195%	$20.2M	$145.9M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.243	−0.098%	$12.5M	$39.8M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.231	−0.204%	$51.2M	$92.9M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.243	−0.098%	$15.7M	$24.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.233	−0.187%	$34.2M	$59.7M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.231	−0.204%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.235	−0.169%	$359K	$568K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.229	−0.222%	$359K	$877K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.224	−0.267%	$180K	$686K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.250	−0.036%	$134K	$459K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.253	−0.009%	$204K	$303K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.271	+0.148%	$12K	$734K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.240	−0.124%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.242	−0.111%	$363K	$1.0M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.244	−0.089%	$30.2M	$5.0M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.229	−0.224%	$669K	$2.2M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.278	+0.211%	$259K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.239	−0.133%	$5.0M	$7.9M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.246	−0.072%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0270%	1h	11.247	−0.066%	$4.6M	$13.4M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0280%	1h	11.260	+0.053%	$918K	$8.1M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0414% / S −0.0264%	1h	11.245	−0.079%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0678%	1h	11.258	+0.039%	$43.6M	$56.7M	10x	as long as short