Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0172%/8h= −18.8% APRpaid last 24h −0.018%

Price spread now: Nado against Phemex−0.130%7-day average −0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$510.513% of the position

Long on Phemex Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.022%−$2 on $10k

Price spread, last 4 days (all we have)+0.643%+$64 · spread now −0.130%, 7d avg −0.022%

Together, before fees+0.621%+ Points / potential airdropNado: Active · farm board+$62 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Nado is 0.108% cheaper against Phemex than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.022%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AVAXUSDT	11.147	0.0100	pay 0.0100% / 8h	5h 33m	$29.8M	$5.6M	50x
Short	Nado AVAX-PERP	11.133	−0.0072	pay 0.0009% / 1h	33m 48s	$286K	$448K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.130%Rate

Funding earned: −$36.02
Price spread: −0.130% → −0.022%: −$10.84
Slippage, 4 orders: −$32.28
Fee Phemex: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$98.14
Costs to cover: 0.513%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; Nado: live order book, 29 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, 5 min ago	3.15 bp	16.5 bp −$16	24.9 bp −$249	doesn't fit	doesn't fit
Sell Nado live order book, 29 min ago	1.79 bp	8.9 bp −$9	16.7 bp −$167	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	−0.1374%	1h	11.100	−0.422%	$17K	$151K	12x	as long as short
Nado AVAX-PERPshort	−0.0072%	1h	11.133	−0.130%	$286K	$448K	10x
Deribit AVAX_USDC-PERPETUAL	−0.0019%	1h	11.142	−0.045%	$5.2M	$7.9M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.155	+0.070%	$103K	$87K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.141	−0.054%	$13K	—	150x	as long as short
Kraken Futures PF_AVAXUSD	+0.0045%	1h	11.148	+0.012%	$4.3M	$11.5M	50x	as long as short
Lighter AVAX	+0.0096%	1h	11.156	+0.085%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.141	−0.054%	$15K	$564K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.161	+0.127%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.152	+0.042%	$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	11.162	+0.138%	$291K	$112K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.159	+0.111%	$119.1M	$433.6M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.163	+0.144%	$88.7M	$138.0M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.163	+0.144%	$20.1M	$117.7M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.151	+0.036%	$12.2M	$34.9M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.160	+0.117%	$48.0M	$79.1M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.155	+0.072%	$15.7M	$21.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.155	+0.072%	$33.5M	$48.6M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.154	+0.063%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.150	+0.027%	$356K	$498K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.138	−0.078%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.123	−0.218%	$357K	$801K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.119	−0.251%	$179K	$677K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.143	−0.036%	$130K	$349K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.150	+0.027%	$196K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.171	+0.212%	$12K	$700K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.144	−0.027%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.142	−0.049%	$365K	$871K	75x	as long as short
Phemex AVAXUSDTlong	+0.0100%	8h	11.147	long leg	$29.8M	$5.6M	50x
Extended AVAX-USD	+0.0104%	1h	11.149	+0.017%	$671K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.136	−0.099%	$256K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.139	−0.072%	$5.1M	$5.5M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.154	+0.063%	$901K	$5.5M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.138	−0.084%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.141	−0.055%	$236K	—	120x	as long as short
Hyperliquid AVAX	+0.0473%	1h	11.171	+0.215%	$43.5M	$43.0M	10x	as long as short