Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0167%/8h= +18.3% APRpaid last 24h +0.022%

Price spread now: Phemex against Nado−0.630%7-day average +0.019% · 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−$120as in the Price arb table

costs, in and out, $10k−$550.548% of the position

Long on Nado Short on Phemex

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)+0.510%+$51 · spread now −0.630%, 7d avg +0.019%

Together, before fees+0.532%+ Points / potential airdropNado: Active · farm board+$53 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phemex is 0.649% cheaper against Nado than usual: you would sell low and buy high (spread −0.630% now, against its 7-day average of +0.019%). If the spread goes back, that is −$65 on $10k: about 13 days of funding at the current rate (+$5 a day). At the pace of the last 3 days (+0.022% in total) that is about 3 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado AVAX-PERP	10.709	−0.0067	get 0.0008% / 1h	14m 21s	$284K	$341K	10x
Short	Phemex AVAXUSDT	10.642	0.0100	get 0.0100% / 8h	2h 14m	$28.4M	$5.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.630%Rate

Funding earned: $35.1
Price spread: −0.630% → +0.019%: −$64.89
Slippage, 4 orders: −$35.84
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$84.63
Costs to cover: 0.548%
Break-even: 23.9 days

Slippage from Nado: live order book, 33 min ago; Phemex: 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, 33 min ago	1.89 bp	10.3 bp −$10	23.3 bp −$233	doesn't fit	doesn't fit
Sell Phemex live order book, 5 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	+0.472%	$17K	$152K	12x	as long as short
Kraken Futures PF_AVAXUSD	−0.0279%	1h	10.714	+0.041%	$4.2M	$11.6M	50x	as long as short
Nado AVAX-PERPlong	−0.0067%	1h	10.709	long leg	$284K	$341K	10x
Variational Omni AVAX	−0.0034%	8h	10.610	−0.931%	$2.8M	$2.2M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.650	−0.552%	$88K	$117K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.709	−0.005%	$4.8M	$7.6M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.707	−0.023%	$12K	—	150x	as long as short
Gate AVAX_USDT	+0.0022%	8h	10.704	−0.051%	$12.4M	$32.9M	75x	as long as short
Bybit AVAXUSDT	+0.0063%	8h	10.703	−0.061%	$80.9M	$147.1M	75x	as long as short
Backpack AVAX_USDC_PERP	+0.0085%	1h	10.645	−0.602%	$422K	$586K	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	10.650	−0.552%	$1.2M	$2.6M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.709	−0.005%	$18K	$437K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0097%	8h	10.688	−0.197%	$12K	$212	20x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.713	+0.033%	$37.7M	$44.6M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.698	−0.108%	$2.2M	$1.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.654	−0.517%	$267K	$131K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.705	−0.044%	$114.8M	$433.3M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.705	−0.042%	$18.9M	$113.7M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.706	−0.033%	$44.6M	$80.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.703	−0.061%	$13.3M	$22.9M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.706	−0.033%	$32.4M	$49.3M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.703	−0.061%	—	$54.3M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.614	−0.888%	$342K	$988K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.591	−1.106%	$171K	$662K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.707	−0.023%	$133K	$354K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.712	+0.023%	$217K	$338K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.735	+0.235%	$12K	$762K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.709	−0.005%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.648	−0.576%	$346K	$804K	75x	as long as short
Phemex AVAXUSDTshort	+0.0100%	8h	10.642	−0.630%	$28.4M	$5.8M	50x
Extended AVAX-USD	+0.0104%	1h	10.703	−0.064%	$643K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.705	−0.043%	$246K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0216%	1h	10.718	+0.079%	$928K	$5.2M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.640	−0.649%	$4.7M	$5.7M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.700	−0.085%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0271%	1h	10.705	−0.046%	$234K	—	120x	as long as short