Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.010%

Price spread now: OKX against Phemex+0.018%7-day average −0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$530.526% of the position

Long on Phemex Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.050%−$5 on $10k

Price spread, last 4 days (all we have)+0.115%+$11 · spread now +0.018%, 7d avg −0.055%

Together, before fees+0.065%+$7 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: OKX is 0.073% dearer against Phemex than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.055%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AVAXUSDT	11.001	0.0100	pay 0.0100% / 8h	3h 50m	$29.4M	$5.8M	50x
Short	OKX AVAX-USDT-SWAP	11.003	0.0100	get 0.0100% / 8h	3h 50m	$20.2M	$114.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.018%Rate

Funding earned: $0
Price spread: +0.018% → −0.055%: $7.32
Slippage, 4 orders: −$30.57
Fee Phemex: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$45.24
Costs to cover: 0.526%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; OKX: 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, 4 min ago	8.19 bp	15.0 bp −$15	31.7 bp −$317	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	0.46 bp	9.5 bp −$10	20.5 bp −$205	62.5 bp −$6,246	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	10.960	−0.373%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0023%	1h	10.994	−0.064%	$5.1M	$7.9M	25x	as long as short
Nado AVAX-PERP	−0.0018%	1h	10.996	−0.045%	$285K	$319K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.002	+0.005%	$96K	$97K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.995	−0.055%	$12K	—	150x	as long as short
Kraken Futures PF_AVAXUSD	+0.0020%	1h	10.997	−0.032%	$4.3M	$11.3M	50x	as long as short
ApeX Omni AVAXUSDT	+0.0084%	1h	11.008	+0.064%	$177K	$671K	50x	as long as short
Lighter AVAX	+0.0096%	1h	11.001	−0.005%	$1.2M	$2.7M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.993	−0.073%	$15K	$458K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	10.995	−0.050%	$12K	$212	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster AVAXUSDT	+0.0100%	8h	10.994	−0.063%	$2.2M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.999	−0.016%	$277K	$129K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.003	+0.015%	$116.1M	$428.6M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.994	−0.064%	$84.1M	$140.8M	75x	as long as short
OKX AVAX-USDT-SWAPshort	+0.0100%	8h	11.003	+0.018%	$20.2M	$114.1M	50x
Gate AVAX_USDT	+0.0100%	8h	10.999	−0.018%	$12.1M	$32.2M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.999	−0.018%	$45.9M	$78.0M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.000	−0.009%	$15.5M	$21.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.999	−0.018%	$33.1M	$47.7M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.999	−0.018%	—	$76.0M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.000	−0.009%	$370K	$548K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.001	−0.004%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.010	+0.080%	$345K	$891K	10x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.993	−0.073%	$129K	$345K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.002	+0.009%	$193K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.024	+0.208%	$12K	$720K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.995	−0.055%	$18K	$71K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.993	−0.068%	$366K	$791K	75x	as long as short
Phemex AVAXUSDTlong	+0.0100%	8h	11.001	long leg	$29.4M	$5.8M	50x
Extended AVAX-USD	+0.0104%	1h	10.990	−0.096%	$678K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.993	−0.068%	$253K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.000	−0.009%	$5.0M	$5.4M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.005	+0.036%	$896K	$5.2M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	10.984	−0.152%	$1K	—	20x	as long as short
Hyperliquid AVAX	+0.0386%	1h	11.016	+0.136%	$42.7M	$41.6M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	10.997	−0.037%	$233K	—	120x	as long as short