Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.022%

Price spread now: dYdX against Phemex+0.063%7-day average −0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$327as in the Funding arb table

Net, price: spread back to 7d avg − costs−$301as in the Price arb table

costs, in and out, $10k−$3113.106% of the position

Long on Phemex Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.164%−$16 on $10k

Price spread, last 3 days (all we have)+0.001%$0 · spread now +0.063%, 7d avg −0.033%

Together, before fees−0.162%−$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.095% dearer against Phemex than usual: you sell high and buy low (spread +0.063% now, against its 7-day average of −0.033%): +$10 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AVAXUSDT	11.253	0.0100	pay 0.0100% / 8h	46m 48s	$30.2M	$5.0M	50x
Short	dYdX AVAX-USD	11.260	0	get 0.0000% / 1h	46m 48s	$104K	$111K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.063%Rate

Funding earned: −$21
Price spread: +0.063% → −0.033%: $9.55
Slippage, 4 orders: −$288.55
Fee Phemex: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$322
Costs to cover: 3.106%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; dYdX: live order book, 32 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	2.67 bp	13.3 bp −$13	24.9 bp −$249	doesn't fit	doesn't fit
Sell dYdX live order book, 32 min ago	133.65 bp	138.7 bp −$139	139.4 bp −$1,394	140.2 bp −$14.0K	181.0 bp −$90.5K

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	−0.1451%	1h	11.200	−0.471%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0105%	1h	11.248	−0.044%	$5.3M	$8.9M	25x	as long as short
Nado AVAX-PERP	−0.0083%	1h	11.243	−0.084%	$297K	$885K	10x	as long as short
dYdX AVAX-USDshort	0.0000%	1h	11.260	+0.063%	$104K	$111K	10x
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.247	−0.054%	$13K	—	150x	as long as short
Variational Omni AVAX	+0.0051%	8h	11.270	+0.152%	$3.0M	$2.4M	—	as long as short
Lighter AVAX	+0.0096%	1h	11.265	+0.109%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.241	−0.107%	$18K	$677K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.243	−0.086%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.258	+0.044%	$2.3M	$1.8M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AVAX	+0.0100%	1h	11.251	−0.022%	$299K	$118K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.259	+0.058%	$120.6M	$518.1M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.261	+0.071%	$89.6M	$155.9M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.259	+0.053%	$20.2M	$145.1M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.255	+0.018%	$12.3M	$40.1M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.259	+0.053%	$51.9M	$93.0M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.261	+0.071%	$15.8M	$24.3M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.266	+0.116%	$34.3M	$59.2M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.262	+0.080%	—	$86.9M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.260	+0.062%	$360K	$564K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.249	−0.038%	$359K	$864K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.276	+0.204%	$181K	$685K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.242	−0.098%	$134K	$439K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.258	+0.044%	$205K	$303K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.272	+0.168%	$12K	$733K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.252	−0.009%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.207	−0.405%	$362K	$1.0M	75x	as long as short
Phemex AVAXUSDTlong	+0.0100%	8h	11.253	long leg	$30.2M	$5.0M	50x
Extended AVAX-USD	+0.0104%	1h	11.253	+0.004%	$672K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.246	−0.058%	$258K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.243	−0.089%	$5.0M	$7.7M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.239	−0.128%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0270%	1h	11.258	+0.044%	$4.6M	$13.2M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0280%	1h	11.263	+0.089%	$917K	$8.0M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0418% / S −0.0270%	1h	11.243	−0.091%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0854%	1h	11.285	+0.284%	$43.8M	$55.3M	10x	as long as short