Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.021%

Price spread now: gTrade (Gains Network) against Phemex+0.062%7-day average — · you sell dearer than you buy

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

Long on Phemex Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread pays, funding is against you. gTrade (Gains Network) is 0.062% dearer against Phemex than usual: you sell high and buy low (spread +0.062% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AVAXUSDT	11.239	0.0100	pay 0.0100% / 8h	1h 26m	$30.2M	$5.0M	50x
Short	gTrade (Gains Network) AVAX/USD	11.246	L +0.0002% / S −0.0004%	get 0.0001% / 1h	26m 10s	$16K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now +0.062%Rate

Funding earned: −$20.14
Price spread: +0.062% → 0.000%: $6.23
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$35.92
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 3 min ago; gTrade (Gains Network): no order-book sample. 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 Phemex live order book, 3 min ago	1.77 bp	13.5 bp −$13	21.6 bp −$216	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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
Injective AVAX/USDC PERP	−0.0570%	1h	11.210	−0.258%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0284%	1h	11.236	−0.027%	$5.3M	$9.2M	25x	as long as short
Nado AVAX-PERP	−0.0028%	1h	11.239	0.000%	$296K	$895K	10x	as long as short
Variational Omni AVAX	−0.0016%	8h	11.259	+0.179%	$3.0M	$2.4M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	11.248	+0.080%	$103K	$112K	10x	as long as short
gTrade (Gains Network) AVAX/USDshort	L +0.0002% / S −0.0004%	1h	11.246	+0.062%	$16K	—	150x
Lighter AVAX	+0.0096%	1h	11.238	−0.009%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.243	+0.036%	$17K	$691K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0099%	8h	11.238	−0.010%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.250	+0.099%	$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	11.250	+0.102%	$299K	$120K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.236	−0.027%	$120.2M	$526.1M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.235	−0.036%	$88.7M	$157.5M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.237	−0.018%	$20.3M	$146.2M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.246	+0.062%	$12.3M	$40.4M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.238	−0.009%	$52.2M	$100.1M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.246	+0.062%	$16.1M	$24.7M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.233	−0.053%	$34.1M	$60.2M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.244	+0.044%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.257	+0.160%	$361K	$570K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.266	+0.238%	$360K	$877K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.270	+0.276%	$181K	$685K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.247	+0.071%	$134K	$459K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.252	+0.116%	$202K	$301K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.274	+0.309%	$12K	$731K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.238	−0.009%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.242	+0.022%	$362K	$1.1M	75x	as long as short
Phemex AVAXUSDTlong	+0.0100%	8h	11.239	long leg	$30.2M	$5.0M	50x
Extended AVAX-USD	+0.0104%	1h	11.236	−0.026%	$673K	$2.2M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.236	−0.024%	$258K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0192%	1h	11.255	+0.142%	$909K	$8.3M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.258	+0.169%	$5.0M	$8.0M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.241	+0.018%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0405% / S −0.0249%	1h	11.245	+0.056%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0621%	1h	11.262	+0.205%	$43.6M	$57.2M	10x	as long as short
Kraken Futures PF_AVAXUSD	+0.0629%	1h	11.245	+0.050%	$4.6M	$13.5M	50x	as long as short