Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.008%

Price spread now: Pacifica against Phemex+0.047%7-day average −0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$520.520% of the position

Long on Phemex Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.045%+$5 on $10k

Price spread, last 4 days (all we have)+0.034%+$3 · spread now +0.047%, 7d avg −0.015%

Together, before fees+0.079%+ Points / potential airdropPacifica: Active · farm board+$8 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: Pacifica is 0.063% dearer against Phemex than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AVAXUSDT	10.545	0.0100	pay 0.0100% / 8h	2h 21m	$28.1M	$5.8M	50x
Short	Pacifica AVAX	10.550	0.0100	get 0.0013% / 1h	21m 18s	$265K	$130K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.047%Rate

Funding earned: $0
Price spread: +0.047% → −0.015%: $6.28
Slippage, 4 orders: −$32.02
Fee Phemex: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$45.74
Costs to cover: 0.520%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; Pacifica: live order book, 27 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, 3 min ago	2.85 bp	12.9 bp −$13	23.2 bp −$232	doesn't fit	doesn't fit
Sell Pacifica live order book, 27 min ago	5.19 bp	12.2 bp −$12	doesn't fit	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	−0.1423%	1h	10.760	+2.039%	$17K	$152K	12x	as long as short
Kraken Futures PF_AVAXUSD	−0.0283%	1h	10.547	+0.016%	$4.2M	$11.5M	50x	as long as short
Nado AVAX-PERP	−0.0054%	1h	10.546	+0.014%	$286K	$340K	10x	as long as short
Variational Omni AVAX	−0.0017%	8h	10.535	−0.097%	$2.7M	$2.2M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.552	+0.063%	$88K	$117K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.543	−0.019%	$4.7M	$7.5M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.546	+0.009%	$12K	—	150x	as long as short
Backpack AVAX_USDC_PERP	+0.0010%	1h	10.546	+0.009%	$367K	$563K	15x	as long as short
Gate AVAX_USDT	+0.0019%	8h	10.543	−0.019%	$12.2M	$32.7M	75x	as long as short
Bybit AVAXUSDT	+0.0070%	8h	10.538	−0.066%	$77.8M	$145.0M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AVAX	+0.0096%	1h	10.548	+0.032%	$1.2M	$2.6M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.557	+0.114%	$18K	$437K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0096%	1h	10.551	+0.057%	$131K	$354K	10x	as long as short
Paradex AVAX-USD-PERP	+0.0096%	8h	10.545	0.000%	$12K	$212	20x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.559	+0.133%	$37.8M	$44.0M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.542	−0.030%	$2.1M	$1.1M	75x	as long as short
Pacifica AVAXshort	+0.0100%	1h	10.550	+0.047%	$265K	$130K	10x
Binance AVAXUSDT	+0.0100%	8h	10.548	+0.028%	$112.3M	$430.9M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.542	−0.028%	$18.6M	$111.5M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.551	+0.057%	$43.7M	$80.4M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.545	0.000%	$13.1M	$22.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.542	−0.028%	$32.0M	$49.4M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.544	−0.009%	—	$54.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.527	−0.171%	$337K	$978K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.532	−0.123%	$170K	$662K	50x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.550	+0.047%	$172K	$304K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.582	+0.346%	$11K	$758K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.542	−0.028%	$17K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.548	+0.030%	$342K	$804K	75x	as long as short
Phemex AVAXUSDTlong	+0.0100%	8h	10.545	long leg	$28.1M	$5.8M	50x
Extended AVAX-USD	+0.0104%	1h	10.538	−0.071%	$634K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.543	−0.017%	$242K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0216%	1h	10.544	−0.009%	$836K	$4.8M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.532	−0.123%	$4.6M	$5.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.546	+0.008%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0271%	1h	10.543	−0.018%	$231K	—	120x	as long as short