Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0144%/8h= +15.8% APRpaid last 24h +0.051%

Price spread now: Reya against Phemex+0.042%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Reya is 0.042% dearer against Phemex than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AVAXUSDT	11.116	0.0100	pay 0.0100% / 8h	6h 04m	$29.7M	$5.6M	50x
Short	Reya AVAXRUSDPERP	11.121	0.0244	get 0.0031% / 1h	4m 40s	$1K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +0.042%Rate

Funding earned: $30.26
Price spread: +0.042% → 0.000%: $4.18
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: $16.43
Costs to cover: 0.180%
Break-even: 3.2 days

Slippage unknown: Phemex: live order book, 4 min ago; Reya: no order-book sample. Net counts fees only.

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	2.71 bp	12.8 bp −$13	23.7 bp −$237	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

AVAX on 35 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	11.060	−0.504%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0039%	1h	11.116	−0.004%	$286K	$475K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0020%	1h	11.117	+0.009%	$5.2M	$8.0M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.130	+0.122%	$102K	$91K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.122	+0.058%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.139	+0.211%	$1.2M	$3.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.146	+0.270%	$16K	$578K	50x	as long as short
Gate AVAX_USDT	+0.0097%	8h	11.136	+0.180%	$12.2M	$36.7M	75x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.134	+0.161%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.124	+0.074%	$2.3M	$1.3M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AVAX	+0.0100%	1h	11.141	+0.228%	$296K	$107K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.140	+0.216%	$118.7M	$445.9M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.141	+0.225%	$88.5M	$140.6M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.144	+0.252%	$20.0M	$121.3M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.139	+0.207%	$48.7M	$82.8M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.138	+0.198%	$15.5M	$22.1M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.143	+0.243%	$33.5M	$49.8M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.145	+0.261%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.120	+0.036%	$356K	$502K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.108	−0.076%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.086	−0.272%	$354K	$790K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.106	−0.090%	$178K	$678K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.125	+0.081%	$131K	$349K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.125	+0.081%	$195K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.153	+0.332%	$12K	$709K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.119	+0.027%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.118	+0.022%	$361K	$855K	75x	as long as short
Phemex AVAXUSDTlong	+0.0100%	8h	11.116	long leg	$29.7M	$5.6M	50x
Extended AVAX-USD	+0.0104%	1h	11.141	+0.224%	$671K	$1.6M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.114	−0.018%	$255K	—	3x	as long as short
Reya AVAXRUSDPERPshort	+0.0244%	1h	11.121	+0.042%	$1K	—	20x
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.122	+0.052%	$4.3M	$11.7M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0288%	1h	11.125	+0.081%	$902K	$5.7M	50x	as long as short
Hyperliquid AVAX	+0.0385%	1h	11.140	+0.216%	$43.3M	$44.8M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.121	+0.048%	$236K	—	120x	as long as short