Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0055%/8h= −6.0% APRpaid last 24h −0.002%

Price spread now: Kraken Futures against Phemex+0.032%7-day average +0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$490.491% of the position

Long on Phemex Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.071%−$7 on $10k

Price spread, last 4 days (all we have)−0.007%−$1 · spread now +0.032%, 7d avg +0.023%

Together, before fees−0.078%−$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.023%, so right now this pair is about funding alone: −$2 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	11.162	0.0100	pay 0.0100% / 8h	5h 12m	$29.8M	$5.7M	50x
Short	Kraken Futures PF_AVAXUSD	11.166	0.0045	get 0.0006% / 1h	12m 26s	$4.3M	$11.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.032%Rate

Funding earned: −$11.49
Price spread: +0.032% → +0.023%: $0.9
Slippage, 4 orders: −$27.08
Fee Phemex: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$59.67
Costs to cover: 0.491%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; Kraken Futures: 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	2.23 bp	12.6 bp −$13	22.1 bp −$221	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 2 min ago	1.79 bp	10.4 bp −$10	18.8 bp −$188	48.0 bp −$4,799	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	−0.1374%	1h	11.130	−0.287%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0198%	1h	11.158	−0.036%	$5.2M	$7.9M	25x	as long as short
Nado AVAX-PERP	−0.0070%	1h	11.154	−0.072%	$287K	$397K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.155	−0.059%	$103K	$87K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.169	+0.065%	$13K	—	150x	as long as short
Kraken Futures PF_AVAXUSDshort	+0.0045%	1h	11.166	+0.032%	$4.3M	$11.5M	50x
Lighter AVAX	+0.0096%	1h	11.152	−0.088%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.152	−0.090%	$16K	$564K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.152	−0.088%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.159	−0.030%	$2.3M	$1.2M	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	11.155	−0.059%	$291K	$114K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.151	−0.099%	$119.4M	$430.8M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.152	−0.090%	$88.6M	$138.1M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.150	−0.108%	$20.3M	$117.0M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.154	−0.072%	$12.2M	$35.1M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.152	−0.090%	$49.0M	$79.6M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.156	−0.054%	$15.8M	$21.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.152	−0.090%	$33.6M	$48.4M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.152	−0.090%	—	$81.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.161	−0.009%	$330K	$498K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.196	+0.307%	$2.9M	$2.3M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.180	+0.158%	$353K	$813K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.185	+0.206%	$180K	$675K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.154	−0.072%	$131K	$349K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.170	+0.072%	$196K	$312K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.201	+0.352%	$12K	$701K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.164	+0.018%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.170	+0.075%	$366K	$865K	75x	as long as short
Phemex AVAXUSDTlong	+0.0100%	8h	11.162	long leg	$29.8M	$5.7M	50x
Extended AVAX-USD	+0.0104%	1h	11.149	−0.116%	$684K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.108	−0.481%	$255K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.160	−0.018%	$5.1M	$5.5M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.181	+0.170%	$899K	$5.4M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.147	−0.138%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.167	+0.048%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0579%	1h	11.171	+0.081%	$43.6M	$42.9M	10x	as long as short