Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0060%/8h= +6.6% APRpaid last 24h −0.004%

Price spread now: Backpack against OKX+0.063%7-day average +0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$350.354% of the position

Long on OKX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.088%−$9 on $10k

Price spread, last 4 days (all we have)−0.051%−$5 · spread now +0.063%, 7d avg +0.052%

Together, before fees−0.139%−$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.052%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.088%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX AVAX-USDT-SWAP	11.117	0.0030	pay 0.0030% / 8h	2h 53m	$19.9M	$146.9M	50x
Short	Backpack AVAX_USDC_PERP	11.124	0.0090	get 0.0011% / 1h	53m 07s	$318K	$552K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against OKX. 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 OKXbpFee BackpackbpOrdersPrice spread, now +0.063%Rate

Funding earned: $12.57
Price spread: +0.063% → +0.052%: $1.06
Slippage, 4 orders: −$15.36
Fee OKX: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$21.73
Costs to cover: 0.354%
Break-even: 19.1 days

Slippage from OKX: live order book, 1 min ago; Backpack: live order book, 35 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 OKX live order book, 1 min ago	0.45 bp	9.6 bp −$10	16.7 bp −$167	52.0 bp −$5,201	doesn't fit
Sell Backpack live order book, 35 min ago	1.36 bp	7.9 bp −$8	32.8 bp −$328	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
Deribit AVAX_USDC-PERPETUAL	−0.0290%	1h	11.114	−0.027%	$5.2M	$9.4M	25x	as long as short
Variational Omni AVAX	−0.0194%	8h	11.123	+0.058%	$2.9M	$2.1M	—	as long as short
Nado AVAX-PERP	−0.0080%	1h	11.116	−0.009%	$296K	$964K	10x	as long as short
Injective AVAX/USDC PERP	−0.0043%	1h	11.100	−0.153%	$17K	$127K	12x	as long as short
Extended AVAX-USD	−0.0032%	1h	11.112	−0.045%	$662K	$2.2M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.111	−0.049%	$97K	$127K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.119	+0.019%	$13K	—	150x	as long as short
Bybit AVAXUSDT	+0.0018%	8h	11.118	+0.009%	$84.6M	$149.1M	75x	as long as short
OKX AVAX-USDT-SWAPlong	+0.0030%	8h	11.117	long leg	$19.9M	$146.9M	50x
Phemex AVAXUSDT	+0.0040%	8h	11.115	−0.018%	$29.8M	$4.8M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate AVAX_USDT	+0.0042%	8h	11.119	+0.018%	$12.3M	$39.4M	75x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0056%	1h	11.126	+0.081%	$887K	$8.1M	50x	as long as short
MEXC AVAX_USDT	+0.0061%	8h	11.120	+0.027%	$53.3M	$108.4M	200x	as long as short
Binance AVAXUSDT	+0.0063%	8h	11.120	+0.027%	$119.2M	$541.7M	75x	as long as short
Backpack AVAX_USDC_PERPshort	+0.0090%	1h	11.124	+0.063%	$318K	$552K	15x
Paradex AVAX-USD-PERP	+0.0093%	8h	11.109	−0.073%	$13K	$766	20x	as long as short
Lighter AVAX	+0.0096%	1h	11.120	+0.027%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.112	−0.045%	$12K	$703K	50x	as long as short
Aevo AVAX-PERP	+0.0096%	1h	11.118	+0.010%	$255K	—	3x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.119	+0.022%	$2.3M	$2.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.108	−0.077%	$295K	$122K	10x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.119	+0.018%	$15.7M	$24.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.128	+0.099%	$34.2M	$61.7M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.121	+0.036%	—	$6.5M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.188	+0.639%	$361K	$905K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.113	−0.036%	$179K	$684K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.119	+0.018%	$117K	$477K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.121	+0.036%	$200K	$302K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.147	+0.266%	$12K	$711K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.116	−0.009%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.117	−0.004%	$356K	$1.2M	75x	as long as short
BloFin AVAX-USDT	+0.0183%	8h	11.119	+0.018%	$5.0M	$8.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0243%	1h	11.116	−0.011%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0258%	1h	11.126	+0.078%	$4.6M	$13.6M	50x	as long as short
Hyperliquid AVAX	+0.0369%	1h	11.137	+0.180%	$42.1M	$58.2M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0405% / S −0.0244%	1h	11.119	+0.022%	$239K	—	120x	as long as short