Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0132%/8h= +14.4% APRpaid last 24h +0.007%

Price spread now: Lighter against Phemex+0.059%7-day average −0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$410.408% of the position

Long on Phemex Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.119%−$12 on $10k

Price spread, last 4 days (all we have)+0.139%+$14 · spread now +0.059%, 7d avg −0.046%

Together, before fees+0.020%+ Points / potential airdropLighter: Season 3 · farm board+$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Lighter is 0.105% dearer against Phemex than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of −0.046%. Mind the row above: over the last 7 days funding on this pair cost −0.119%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AVAXUSDT	10.922	−0.0036	get 0.0036% / 8h	6h 20m	$29.1M	$5.5M	50x
Short	Lighter AVAX	10.928	0.0096	get 0.0012% / 1h	20m 32s	$1.2M	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.059%Rate

Funding earned: $27.66
Price spread: +0.059% → −0.046%: $10.51
Slippage, 4 orders: −$28.84
Fee Phemex: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$2.68
Costs to cover: 0.408%
Break-even: 7.7 days

Slippage from Phemex: live order book, 7 min ago; Lighter: 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, 7 min ago	4.13 bp	15.7 bp −$16	24.0 bp −$240	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	4.68 bp	5.2 bp −$5	14.8 bp −$148	85.6 bp −$8,561	doesn't fit

AVAX on 36 exchanges

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
Kraken Futures PF_AVAXUSD	−0.0184%	1h	10.930	+0.071%	$3.8M	$11.6M	50x	as long as short
Variational Omni AVAX	−0.0128%	8h	10.917	−0.043%	$3.0M	$2.1M	—	as long as short
Gate AVAX_USDT	−0.0082%	8h	10.926	+0.037%	$14.4M	$28.4M	75x	as long as short
Phemex AVAXUSDTlong	−0.0036%	8h	10.922	long leg	$29.1M	$5.5M	50x
SoDEX AVAX-USD	−0.0021%	1h	10.925	+0.027%	$19K	$68K	10x	as long as short
Bybit AVAXUSDT	−0.0010%	8h	10.926	+0.037%	$85.2M	$134.6M	75x	as long as short
Nado AVAX-PERP	−0.0003%	1h	10.928	+0.055%	$278K	$309K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.933	+0.099%	$93K	$110K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.931	+0.082%	$5.0M	$6.6M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0002%	1h	10.928	+0.053%	$23K	—	150x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	−1.483%	$17K	$151K	12x	as long as short
Lighter AVAXshort	+0.0096%	1h	10.928	+0.059%	$1.2M	$2.0M	10x
Popdex AVAXUSDT	+0.0096%	1h	10.929	+0.064%	$20K	$444K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0099%	8h	10.925	+0.025%	$12K	$62	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.930	+0.076%	$2.3M	$1.3M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.929	+0.065%	$275K	$125K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.929	+0.067%	$115.2M	$381.6M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.926	+0.037%	$19.4M	$105.7M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.927	+0.046%	$53.1M	$72.9M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.930	+0.073%	$14.3M	$19.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.925	+0.027%	$33.2M	$44.6M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.927	+0.046%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.930	+0.073%	$441K	$535K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.915	−0.063%	$346K	$1.4M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.903	−0.174%	$175K	$661K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.925	+0.027%	$138K	$247K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.931	+0.082%	$236K	$218K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.953	+0.280%	$12K	$778K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.928	+0.060%	$325K	$942K	75x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.923	+0.011%	$619K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.928	+0.050%	$251K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0192%	1h	10.905	−0.156%	$860K	$5.2M	50x	as long as short
Hyperliquid AVAX	+0.0194%	1h	10.943	+0.192%	$36.3M	$39.0M	10x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.920	−0.018%	$4.8M	$5.3M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.923	+0.007%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0294%	1h	10.927	+0.045%	$231K	—	120x	as long as short