AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0146%/8h= +16.0% APRnext payment +$0.18 per $10,000 · paid last 24h +0.002%

Price spread now: Backpack against Nado−0.036%7-day average +0.005% · 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−$38as in the Price arb table

costs, in and out, $10k−$340.337% of the position

Long on Nado Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.022%−$2 on $10k

Price spread, last 4 days (all we have)−0.854%−$85 · spread now −0.036%, 7d avg +0.005%

Together, before fees−0.875%+ Points / potential airdropNado: Active · farm board−$88 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.040% cheaper against Nado than usual: you would sell low and buy high (spread −0.036% now, against its 7-day average of +0.005%). If the spread goes back, that is −$4 on $10k: about 22 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado AVAX-PERP	11.122	−0.0046	get 0.0006% / 1h	30m 52s	$286K	$517K	10x
Short	Backpack AVAX_USDC_PERP	11.118	0.0100	get 0.0013% / 1h	30m 52s	$355K	$545K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Nado. 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 NadobpFee BackpackbpOrdersPrice spread, now −0.036%Rate

Funding earned: $30.66
Price spread: −0.036% → +0.005%: −$4.05
Slippage, 4 orders: −$16.68
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$7.06
Costs to cover: 0.337%
Break-even: 8.6 days

Slippage from Nado: live order book, 37 min ago; Backpack: live order book, 38 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, 37 min ago	0.89 bp	9.5 bp −$10	21.3 bp −$213	doesn't fit	doesn't fit
Sell Backpack live order book, 38 min ago	0.45 bp	7.8 bp −$8	33.2 bp −$332	doesn't fit	doesn't fit

AVAX on 35 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	11.090	−0.288%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0110%	1h	11.115	−0.063%	$5.2M	$8.3M	25x	as long as short
Nado AVAX-PERPlong	−0.0046%	1h	11.122	long leg	$286K	$517K	10x
dYdX AVAX-USD	0.0000%	1h	11.127	+0.048%	$102K	$96K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.119	−0.026%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0056%	8h	11.119	−0.027%	$12.1M	$36.6M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.116	−0.058%	$1.2M	$3.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.117	−0.045%	$15K	$595K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.124	+0.015%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.120	−0.019%	$2.3M	$1.4M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AVAX	+0.0100%	1h	11.127	+0.043%	$295K	$107K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.116	−0.054%	$118.4M	$467.0M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.118	−0.036%	$88.5M	$145.1M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.120	−0.018%	$20.0M	$125.5M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.118	−0.036%	$48.6M	$82.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.123	+0.009%	$15.6M	$22.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.115	−0.063%	$33.4M	$51.8M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.118	−0.036%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERPshort	+0.0100%	1h	11.118	−0.036%	$355K	$545K	15x
Variational Omni AVAX	+0.0100%	8h	11.127	+0.043%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.117	−0.045%	$350K	$800K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.118	−0.036%	$179K	$681K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.122	0.000%	$131K	$363K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.123	+0.009%	$195K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.145	+0.203%	$12K	$721K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.116	−0.054%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.112	−0.091%	$361K	$939K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.116	−0.054%	$29.7M	$5.6M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.115	−0.061%	$671K	$2.0M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.112	−0.090%	$255K	—	3x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.118	−0.037%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.119	−0.027%	$4.3M	$12.1M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0288%	1h	11.129	+0.063%	$904K	$5.9M	50x	as long as short
Hyperliquid AVAX	+0.0424%	1h	11.131	+0.081%	$43.4M	$47.0M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.119	−0.029%	$236K	—	120x	as long as short