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 +0.008%

Price spread now: SunX against Phemex+0.286%7-day average +0.244% · you sell dearer than you buy

Net, funding: paid 7d − costs−$183as in the Funding arb table

Net, price: spread back to 7d avg − costs−$184as in the Price arb table

costs, in and out, $10k−$1881.877% of the position

Long on Phemex Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.046%+$5 on $10k

Price spread, last 3 days (all we have)−0.035%−$3 · spread now +0.286%, 7d avg +0.244%

Together, before fees+0.011%+$1 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: SunX is 0.042% dearer against Phemex than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.244%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AVAXUSDT	11.194	0.0100	pay 0.0100% / 8h	7h 05m	$30.0M	$5.1M	50x
Short	SunX AVAX-USDT	11.226	0.0100	get 0.0100% / 8h	7h 05m	$12K	$719K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.286%Rate

Funding earned: $0
Price spread: +0.286% → +0.244%: $4.15
Slippage, 4 orders: −$167.68
Fee Phemex: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$183.53
Costs to cover: 1.877%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; SunX: live order book, 46 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	2.23 bp	16.5 bp −$17	23.5 bp −$235	doesn't fit	doesn't fit
Sell SunX live order book, 46 min ago	41.89 bp	102.0 bp −$102	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	−0.1363%	1h	11.170	−0.214%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0069%	1h	11.192	−0.013%	$293K	$680K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0018%	1h	11.193	−0.009%	$5.3M	$8.4M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.194	+0.003%	$103K	$105K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.192	−0.018%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.191	−0.029%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.190	−0.036%	$15K	$606K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.188	−0.052%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.190	−0.038%	$2.3M	$1.5M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.193	−0.005%	$297K	$107K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AVAXUSDT	+0.0100%	8h	11.190	−0.039%	$119.5M	$474.3M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.189	−0.045%	$88.9M	$147.0M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.188	−0.054%	$20.0M	$130.0M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.189	−0.045%	$12.2M	$38.6M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.192	−0.018%	$50.9M	$89.2M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.194	0.000%	$15.3M	$23.0M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.190	−0.036%	$34.0M	$53.1M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.189	−0.045%	—	$84.1M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.192	−0.018%	$358K	$547K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.188	−0.050%	$3.0M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.209	+0.134%	$353K	$847K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.211	+0.152%	$180K	$687K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.192	−0.018%	$131K	$370K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.196	+0.018%	$197K	$313K	20x	as long as short
SunX AVAX-USDTshort	+0.0100%	8h	11.226	+0.286%	$12K	$719K	20x
SoDEX AVAX-USD	+0.0100%	1h	11.196	+0.018%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.188	−0.057%	$364K	$943K	75x	as long as short
Phemex AVAXUSDTlong	+0.0100%	8h	11.194	long leg	$30.0M	$5.1M	50x
Extended AVAX-USD	+0.0104%	1h	11.186	−0.075%	$671K	$2.0M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.188	−0.052%	$257K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0215%	1h	11.199	+0.049%	$4.3M	$12.5M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.196	+0.018%	$5.0M	$6.1M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.187	−0.058%	$1K	—	20x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0304%	1h	11.209	+0.134%	$912K	$6.4M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0297%	1h	11.190	−0.034%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0664%	1h	11.209	+0.134%	$43.8M	$48.9M	10x	as long as short