Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0043%/8h= −4.7% APRpaid last 24h −0.008%

Price spread now: Phemex against Pacifica−0.092%7-day average +0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$470.473% of the position

Long on Pacifica Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.046%−$5 on $10k

Price spread, last 3 days (all we have)−0.124%−$12 · spread now −0.092%, 7d avg +0.025%

Together, before fees−0.170%+ Points / potential airdropPacifica: Active · farm board−$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phemex is 0.117% cheaper against Pacifica than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.025%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica AVAX	11.239	0.0100	pay 0.0013% / 1h	34m 00s	$299K	$122K	10x
Short	Phemex AVAXUSDT	11.229	0.0057	get 0.0057% / 8h	2h 34m	$30.1M	$4.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.092%Rate

Funding earned: −$9.09
Price spread: −0.092% → +0.025%: −$11.68
Slippage, 4 orders: −$27.31
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$68.08
Costs to cover: 0.473%
Break-even: never at this rate

Slippage from Pacifica: live order book, 54 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 Pacifica live order book, 54 min ago	1.81 bp	5.8 bp −$6	15.6 bp −$156	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	5.80 bp	18.2 bp −$18	26.5 bp −$265	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
Variational Omni AVAX	−0.0155%	8h	11.233	−0.055%	$2.9M	$2.1M	—	as long as short
Nado AVAX-PERP	−0.0110%	1h	11.234	−0.047%	$297K	$956K	10x	as long as short
Injective AVAX/USDC PERP	−0.0043%	1h	11.100	−1.239%	$17K	$127K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0017%	1h	11.232	−0.065%	$5.3M	$9.4M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.235	−0.040%	$99K	$115K	10x	as long as short
Extended AVAX-USD	0.0000%	1h	11.241	+0.013%	$669K	$2.3M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.234	−0.050%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0051%	8h	11.242	+0.024%	$12.6M	$39.9M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0055%	8h	11.239	−0.003%	$20.0M	$147.8M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0056%	1h	11.236	−0.029%	$911K	$8.2M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex AVAXUSDTshort	+0.0057%	8h	11.229	−0.092%	$30.1M	$4.8M	50x
Bybit AVAXUSDT	+0.0073%	8h	11.243	+0.033%	$86.6M	$152.4M	75x	as long as short
MEXC AVAX_USDT	+0.0073%	8h	11.240	+0.006%	$53.5M	$109.1M	200x	as long as short
Binance AVAXUSDT	+0.0075%	8h	11.239	−0.004%	$120.7M	$537.7M	75x	as long as short
Paradex AVAX-USD-PERP	+0.0096%	8h	11.234	−0.044%	$13K	$766	20x	as long as short
Lighter AVAX	+0.0096%	1h	11.228	−0.097%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.234	−0.047%	$9K	$701K	50x	as long as short
Aevo AVAX-PERP	+0.0096%	1h	11.226	−0.115%	$258K	—	3x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.242	+0.028%	$2.3M	$1.9M	75x	as long as short
Pacifica AVAXlong	+0.0100%	1h	11.239	long leg	$299K	$122K	10x
KuCoin AVAXUSDTM	+0.0100%	8h	11.245	+0.051%	$16.1M	$24.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.240	+0.006%	$34.5M	$61.2M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.240	+0.006%	—	$6.6M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.238	−0.012%	$333K	$560K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.243	+0.034%	$356K	$910K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.252	+0.113%	$181K	$684K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.238	−0.012%	$130K	$483K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.238	−0.012%	$202K	$302K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.264	+0.215%	$12K	$716K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.227	−0.110%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.226	−0.123%	$360K	$1.1M	75x	as long as short
BloFin AVAX-USDT	+0.0193%	8h	11.234	−0.047%	$5.0M	$8.5M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.234	−0.044%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.239	+0.002%	$4.7M	$13.7M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0405% / S −0.0244%	1h	11.232	−0.061%	$242K	—	120x	as long as short
Hyperliquid AVAX	+0.0496%	1h	11.250	+0.095%	$43.4M	$58.4M	10x	as long as short