Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.022%

Price spread now: Backpack against Pacifica+0.075%7-day average +0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$420.420% of the position

Long on Pacifica Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.149%−$15 on $10k

Price spread, last 4 days (all we have)−0.120%−$12 · spread now +0.075%, 7d avg +0.005%

Together, before fees−0.269%+ Points / potential airdropPacifica: Active · farm board−$27 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: Backpack is 0.070% dearer against Pacifica than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica AVAX	10.715	0.0100	pay 0.0013% / 1h	0m 36s	$268K	$131K	10x
Short	Backpack AVAX_USDC_PERP	10.723	0.0100	get 0.0013% / 1h	0m 36s	$428K	$564K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Pacifica. 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 PacificabpFee BackpackbpOrdersPrice spread, now +0.075%Rate

Funding earned: $0
Price spread: +0.075% → +0.005%: $6.96
Slippage, 4 orders: −$23.98
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$35.02
Costs to cover: 0.420%
Break-even: never at this rate

Slippage from Pacifica: live order book, 48 min ago; Backpack: live order book, 48 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 Pacifica live order book, 48 min ago	5.19 bp	9.3 bp −$9	17.9 bp −$179	doesn't fit	doesn't fit
Sell Backpack live order book, 48 min ago	0.47 bp	6.3 bp −$6	40.2 bp −$402	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	+0.420%	$17K	$152K	12x	as long as short
Kraken Futures PF_AVAXUSD	−0.0278%	1h	10.726	+0.101%	$4.2M	$11.5M	50x	as long as short
Nado AVAX-PERP	−0.0104%	1h	10.721	+0.061%	$287K	$340K	10x	as long as short
Variational Omni AVAX	−0.0030%	8h	10.718	+0.023%	$2.8M	$2.1M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.713	−0.019%	$89K	$117K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.723	+0.075%	$4.8M	$7.5M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.722	+0.062%	$12K	—	150x	as long as short
Gate AVAX_USDT	+0.0036%	8h	10.711	−0.037%	$12.6M	$33.3M	75x	as long as short
Bybit AVAXUSDT	+0.0085%	8h	10.710	−0.047%	$82.1M	$149.0M	75x	as long as short
Lighter AVAX	+0.0096%	1h	10.710	−0.043%	$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	10.719	+0.037%	$23K	$436K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0097%	8h	10.705	−0.094%	$12K	$212	20x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.722	+0.065%	$37.6M	$44.7M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.716	+0.009%	$2.2M	$1.0M	75x	as long as short
Pacifica AVAXlong	+0.0100%	1h	10.715	long leg	$268K	$131K	10x
Binance AVAXUSDT	+0.0100%	8h	10.711	−0.041%	$114.1M	$432.6M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.704	−0.103%	$18.8M	$114.1M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.711	−0.037%	$45.4M	$81.3M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.711	−0.037%	$13.3M	$22.9M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.705	−0.093%	$32.5M	$49.2M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.705	−0.093%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERPshort	+0.0100%	1h	10.723	+0.075%	$428K	$564K	15x
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.719	+0.037%	$345K	$1.0M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.743	+0.261%	$173K	$662K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.722	+0.065%	$136K	$354K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.728	+0.121%	$231K	$351K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.751	+0.334%	$11K	$767K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.721	+0.056%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.717	+0.023%	$343K	$879K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.722	+0.065%	$28.6M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.700	−0.138%	$615K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.718	+0.028%	$246K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0216%	1h	10.738	+0.215%	$934K	$5.1M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.722	+0.065%	$4.7M	$5.7M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.718	+0.030%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0295%	1h	10.722	+0.065%	$227K	—	120x	as long as short