Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0121%/8h= −13.3% APRpaid last 24h −0.135%

Price spread now: Deribit against Phemex−0.036%7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$98as in the Funding arb table

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

costs, in and out, $10k−$360.361% of the position

Long on Phemex Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.614%−$61 on $10k

Price spread, last 4 days (all we have)−0.006%−$1 · spread now −0.036%, 7d avg −0.049%

Together, before fees−0.621%−$62 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.049%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AVAXUSDT	11.067	0.0100	pay 0.0100% / 8h	4h 24m	$29.5M	$5.8M	50x
Short	Deribit AVAX_USDC-PERPETUAL	11.063	−0.0021	pay 0.0003% / 1h	24m 58s	$5.2M	$7.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.036%Rate

Funding earned: −$25.43
Price spread: −0.036% → −0.049%: $1.29
Slippage, 4 orders: −$17.15
Fee Phemex: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$60.29
Costs to cover: 0.361%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; Deribit: live order book, 4 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, 4 min ago	1.80 bp	13.1 bp −$13	24.1 bp −$241	doesn't fit	doesn't fit
Sell Deribit live order book, 4 min ago	0.45 bp	4.8 bp −$5	39.8 bp −$398	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	11.020	−0.425%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0029%	1h	11.064	−0.027%	$285K	$368K	10x	as long as short
Deribit AVAX_USDC-PERPETUALshort	−0.0021%	1h	11.063	−0.036%	$5.2M	$7.9M	25x
dYdX AVAX-USD	0.0000%	1h	11.067	0.000%	$97K	$97K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.068	+0.010%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.063	−0.033%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.072	+0.045%	$15K	$549K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.063	−0.033%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.060	−0.063%	$2.3M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.071	+0.037%	$289K	$114K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AVAXUSDT	+0.0100%	8h	11.057	−0.090%	$117.4M	$427.1M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.059	−0.072%	$87.7M	$137.5M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.057	−0.090%	$20.4M	$114.8M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.058	−0.081%	$12.1M	$34.2M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.060	−0.063%	$47.2M	$77.9M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.065	−0.018%	$15.5M	$21.7M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.062	−0.045%	$33.2M	$48.0M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.056	−0.099%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.057	−0.090%	$334K	$521K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.064	−0.023%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.078	+0.099%	$350K	$863K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.079	+0.108%	$178K	$670K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.073	+0.054%	$130K	$337K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.070	+0.027%	$194K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.102	+0.320%	$12K	$705K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.066	−0.009%	$18K	$71K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.071	+0.033%	$362K	$811K	75x	as long as short
Phemex AVAXUSDTlong	+0.0100%	8h	11.067	long leg	$29.5M	$5.8M	50x
Extended AVAX-USD	+0.0104%	1h	11.057	−0.095%	$685K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.063	−0.032%	$254K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0213%	1h	11.069	+0.017%	$4.3M	$11.2M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.066	−0.009%	$5.0M	$5.4M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.074	+0.063%	$885K	$5.2M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.068	+0.010%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.069	+0.016%	$235K	—	120x	as long as short
Hyperliquid AVAX	+0.0567%	1h	11.071	+0.036%	$42.9M	$42.4M	10x	as long as short