Funding arb · Price arb /

AVAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0006%/8h= +0.6% APRpaid last 24h −0.014%

Price spread now: Backpack against Paradex−0.029%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Paradex Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.029% cheaper against Paradex than usual: you would sell low and buy high, −$3 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex AVAX-USD-PERP	11.180	0.0094	pay 0.0094% / 8h	2h 44m	$13K	$766	20x
Short	Backpack AVAX_USDC_PERP	11.177	0.0100	get 0.0013% / 1h	44m 50s	$326K	$554K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Paradex. 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 ParadexbpFee BackpackbpOrdersPrice spread, now −0.029%Rate

Funding earned: $1.19
Price spread: −0.029% → 0.000%: −$2.88
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$15.7
Costs to cover: 0.140%
Break-even: 99.7 days

Slippage unknown: Paradex: no order-book sample; Backpack: live order book, 44 min ago. Net counts fees only.

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 Paradex no order-book sample	—	—	—	—	—
Sell Backpack live order book, 44 min ago	1.36 bp	7.9 bp −$8	32.8 bp −$328	doesn't fit	doesn't fit

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0286%	1h	11.183	+0.025%	$5.3M	$9.4M	25x	as long as short
Variational Omni AVAX	−0.0177%	8h	11.179	−0.015%	$2.9M	$2.1M	—	as long as short
Nado AVAX-PERP	−0.0103%	1h	11.181	+0.011%	$296K	$956K	10x	as long as short
Injective AVAX/USDC PERP	−0.0043%	1h	11.100	−0.718%	$17K	$127K	12x	as long as short
Extended AVAX-USD	−0.0016%	1h	11.165	−0.132%	$666K	$2.3M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.187	+0.061%	$98K	$115K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.189	+0.078%	$13K	—	150x	as long as short
Bybit AVAXUSDT	+0.0043%	8h	11.177	−0.029%	$84.9M	$150.9M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0044%	8h	11.172	−0.074%	$20.0M	$147.0M	50x	as long as short
Gate AVAX_USDT	+0.0044%	8h	11.175	−0.047%	$12.5M	$39.6M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex AVAXUSDT	+0.0053%	8h	11.176	−0.038%	$30.0M	$4.8M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0056%	1h	11.192	+0.105%	$892K	$8.1M	50x	as long as short
MEXC AVAX_USDT	+0.0067%	8h	11.169	−0.100%	$54.0M	$108.7M	200x	as long as short
Binance AVAXUSDT	+0.0069%	8h	11.172	−0.074%	$119.8M	$539.1M	75x	as long as short
Paradex AVAX-USD-PERPlong	+0.0094%	8h	11.180	long leg	$13K	$766	20x
Lighter AVAX	+0.0096%	1h	11.170	−0.091%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.185	+0.043%	$13K	$697K	50x	as long as short
Aevo AVAX-PERP	+0.0096%	1h	11.181	+0.007%	$257K	—	3x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.180	−0.006%	$2.3M	$2.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.186	+0.052%	$297K	$122K	10x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.176	−0.038%	$15.9M	$24.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.173	−0.065%	$34.3M	$61.1M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.173	−0.065%	—	$6.6M	—	as long as short
Backpack AVAX_USDC_PERPshort	+0.0100%	1h	11.177	−0.029%	$326K	$554K	15x
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.161	−0.176%	$358K	$907K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.171	−0.083%	$180K	$685K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.187	+0.061%	$124K	$475K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.191	+0.096%	$201K	$302K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.211	+0.273%	$12K	$712K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.182	+0.016%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.176	−0.040%	$358K	$1.1M	75x	as long as short
BloFin AVAX-USDT	+0.0189%	8h	11.182	+0.016%	$5.0M	$8.7M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.184	+0.032%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0257%	1h	11.193	+0.115%	$4.6M	$13.6M	50x	as long as short
Hyperliquid AVAX	+0.0401%	1h	11.190	+0.089%	$42.5M	$58.4M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0405% / S −0.0244%	1h	11.187	+0.065%	$241K	—	120x	as long as short