Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.011%

Price spread now: Extended against Phemex−0.120%7-day average −0.086% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$390.387% of the position

Long on Phemex Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.077%−$8 on $10k

Price spread, last 4 days (all we have)+0.177%+$18 · spread now −0.120%, 7d avg −0.086%

Together, before fees+0.100%+ Points / potential airdropExtended: Active · farm board+$10 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: Extended is 0.034% cheaper against Phemex than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.086%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AVAXUSDT	10.957	0.0100	pay 0.0100% / 8h	3h 30m	$29.2M	$5.8M	50x
Short	Extended AVAX-USD	10.944	0.0104	get 0.0013% / 1h	30m 42s	$675K	$1.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Phemex. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ExtendedbpOrdersPrice spread, now −0.120%Rate

Funding earned: $0.84
Price spread: −0.120% → −0.086%: −$3.42
Slippage, 4 orders: −$21.69
Fee Phemex: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$41.27
Costs to cover: 0.387%
Break-even: 350.9 days

Slippage from Phemex: live order book, 3 min ago; Extended: live order book, 3 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, 3 min ago	1.37 bp	13.3 bp −$13	22.5 bp −$225	doesn't fit	doesn't fit
Sell Extended live order book, 3 min ago	0.46 bp	4.7 bp −$5	6.8 bp −$68	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	−0.1421%	1h	10.900	−0.520%	$17K	$151K	12x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.939	−0.163%	$96K	$97K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.956	−0.009%	$5.0M	$7.8M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.952	−0.047%	$12K	—	150x	as long as short
Kraken Futures PF_AVAXUSD	+0.0020%	1h	10.957	+0.004%	$4.2M	$11.2M	50x	as long as short
Nado AVAX-PERP	+0.0031%	1h	10.946	−0.096%	$284K	$318K	10x	as long as short
Lighter AVAX	+0.0096%	1h	10.946	−0.102%	$1.2M	$2.7M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.948	−0.082%	$15K	$452K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	10.934	−0.209%	$12K	$212	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.943	−0.125%	$2.2M	$1.1M	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	10.941	−0.150%	$276K	$131K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.946	−0.098%	$115.1M	$427.1M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.941	−0.146%	$83.2M	$140.6M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.945	−0.110%	$20.0M	$112.9M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	10.948	−0.082%	$12.1M	$32.4M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.953	−0.037%	$45.3M	$78.5M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.956	−0.009%	$15.4M	$21.7M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.947	−0.091%	$33.0M	$47.6M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.945	−0.110%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.953	−0.037%	$372K	$549K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	10.947	−0.095%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.937	−0.178%	$346K	$931K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.940	−0.155%	$176K	$668K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.953	−0.037%	$128K	$343K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.961	+0.037%	$193K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.978	+0.191%	$12K	$722K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.953	−0.037%	$18K	$71K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.945	−0.111%	$364K	$770K	75x	as long as short
Phemex AVAXUSDTlong	+0.0100%	8h	10.957	long leg	$29.2M	$5.8M	50x
Extended AVAX-USDshort	+0.0104%	1h	10.944	−0.120%	$675K	$1.3M	25x
Aevo AVAX-PERP	+0.0104%	1h	10.944	−0.123%	$251K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.947	−0.091%	$4.9M	$5.3M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	10.959	+0.018%	$892K	$5.2M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	10.951	−0.058%	$1K	—	20x	as long as short
Hyperliquid AVAX	+0.0320%	1h	10.957	0.000%	$42.1M	$41.4M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	10.951	−0.051%	$232K	—	120x	as long as short