Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.025%

Price spread now: Bybit against Phemex−0.018%7-day average −0.067% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$440.442% of the position

Long on Phemex Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.066%−$7 on $10k

Price spread, last 3 days (all we have)+0.066%+$7 · spread now −0.018%, 7d avg −0.067%

Together, before fees0.000%$0 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: Bybit is 0.049% dearer against Phemex than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.067%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AVAXUSDT	11.119	0.0100	pay 0.0100% / 8h	6h 27m	$29.7M	$5.6M	50x
Short	Bybit AVAXUSDT	11.117	0.0100	get 0.0100% / 8h	6h 27m	$88.6M	$143.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Phemex. 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 PhemexbpFee BybitbpOrdersPrice spread, now −0.018%Rate

Funding earned: $0
Price spread: −0.018% → −0.067%: $4.92
Slippage, 4 orders: −$21.2
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$39.27
Costs to cover: 0.442%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; Bybit: live order book, 2 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 Phemex live order book, 2 min ago	1.35 bp	11.7 bp −$12	21.5 bp −$215	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.45 bp	8.6 bp −$9	15.3 bp −$153	30.7 bp −$3,066	doesn't fit

AVAX on 35 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	11.080	−0.351%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0049%	1h	11.117	−0.018%	$286K	$509K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0020%	1h	11.115	−0.036%	$5.2M	$8.3M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.117	−0.017%	$102K	$96K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.120	+0.010%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0048%	8h	11.117	−0.018%	$12.1M	$36.6M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.117	−0.018%	$1.2M	$3.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.118	−0.009%	$15K	$595K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.115	−0.032%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.119	−0.003%	$2.3M	$1.4M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AVAX	+0.0100%	1h	11.122	+0.027%	$295K	$107K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.116	−0.027%	$118.5M	$460.5M	75x	as long as short
Bybit AVAXUSDTshort	+0.0100%	8h	11.117	−0.018%	$88.6M	$143.6M	75x
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.118	−0.009%	$20.0M	$124.1M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.121	+0.018%	$48.8M	$82.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.123	+0.036%	$15.6M	$22.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.116	−0.027%	$33.4M	$51.4M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.122	+0.027%	—	$83.4M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.116	−0.027%	$355K	$535K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.127	+0.070%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.106	−0.117%	$354K	$810K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.110	−0.081%	$179K	$677K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.124	+0.045%	$131K	$363K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.124	+0.045%	$195K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.146	+0.238%	$12K	$718K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.117	−0.018%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.118	−0.004%	$361K	$939K	75x	as long as short
Phemex AVAXUSDTlong	+0.0100%	8h	11.119	long leg	$29.7M	$5.6M	50x
Extended AVAX-USD	+0.0104%	1h	11.114	−0.048%	$671K	$1.7M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.120	+0.007%	$255K	—	3x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.120	+0.007%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.119	0.000%	$4.3M	$11.9M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0288%	1h	11.120	+0.009%	$903K	$5.9M	50x	as long as short
Hyperliquid AVAX	+0.0409%	1h	11.134	+0.135%	$43.3M	$47.1M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.120	+0.012%	$236K	—	120x	as long as short