Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0060%/8h= −6.6% APRpaid last 24h −0.029%

Price spread now: Bybit against Polymarket Perps+0.215%7-day average −0.083% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$3as in the Price arb table

costs, in and out, $10k−$320.324% of the position

Long on Polymarket Perps Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.060%−$6 on $10k

Price spread, last 3 days (all we have)−0.565%−$57 · spread now +0.215%, 7d avg −0.083%

Together, before fees−0.625%−$63 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.298% dearer against Polymarket Perps than usual: you sell high and buy low (spread +0.215% now, against its 7-day average of −0.083%): +$30 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 16 days. At the pace of the last 7 days (−0.060% in total) that is about 35 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps AVAX-USD	11.180	0.0100	pay 0.0013% / 1h	46m 02s	$117K	$466K	10x
Short	Bybit AVAXUSDT	11.204	0.0040	get 0.0040% / 8h	2h 46m	$84.7M	$149.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Polymarket Perps. 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 Polymarket PerpsbpFee BybitbpOrdersPrice spread, now +0.215%Rate

Funding earned: −$12.68
Price spread: +0.215% → −0.083%: $29.76
Slippage, 4 orders: −$13.4
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$15.32
Costs to cover: 0.324%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 41 min ago; Bybit: live order book, 3 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 Polymarket Perps live order book, 41 min ago	1.36 bp	5.4 bp −$5	7.9 bp −$79	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.45 bp	8.4 bp −$8	17.5 bp −$175	46.4 bp −$4,644	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
Deribit AVAX_USDC-PERPETUAL	−0.0197%	1h	11.182	+0.018%	$5.3M	$9.4M	25x	as long as short
Variational Omni AVAX	−0.0185%	8h	11.129	−0.460%	$2.9M	$2.1M	—	as long as short
Nado AVAX-PERP	−0.0106%	1h	11.170	−0.085%	$296K	$956K	10x	as long as short
Injective AVAX/USDC PERP	−0.0043%	1h	11.100	−0.716%	$17K	$127K	12x	as long as short
Extended AVAX-USD	−0.0008%	1h	11.181	+0.009%	$666K	$2.3M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.186	+0.054%	$98K	$115K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.186	+0.056%	$13K	—	150x	as long as short
Bybit AVAXUSDTshort	+0.0040%	8h	11.204	+0.215%	$84.7M	$149.7M	75x
OKX AVAX-USDT-SWAP	+0.0042%	8h	11.200	+0.179%	$20.0M	$147.3M	50x	as long as short
Gate AVAX_USDT	+0.0047%	8h	11.183	+0.027%	$12.5M	$39.6M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International AVAX-PERP-INTX	+0.0056%	1h	11.180	0.000%	$892K	$8.1M	50x	as long as short
Phemex AVAXUSDT	+0.0058%	8h	11.176	−0.036%	$30.0M	$4.8M	50x	as long as short
MEXC AVAX_USDT	+0.0064%	8h	11.184	+0.036%	$54.1M	$108.6M	200x	as long as short
Binance AVAXUSDT	+0.0067%	8h	11.178	−0.021%	$119.9M	$538.8M	75x	as long as short
Paradex AVAX-USD-PERP	+0.0094%	8h	11.179	−0.008%	$13K	$766	20x	as long as short
Lighter AVAX	+0.0096%	1h	11.182	+0.018%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.174	−0.054%	$13K	$697K	50x	as long as short
Aevo AVAX-PERP	+0.0096%	1h	11.181	+0.009%	$257K	—	3x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.185	+0.049%	$2.3M	$2.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.180	+0.003%	$297K	$122K	10x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.185	+0.045%	$15.8M	$24.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.196	+0.143%	$34.4M	$61.1M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.177	−0.027%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.184	+0.036%	$326K	$553K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.124	−0.503%	$357K	$907K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.130	−0.447%	$179K	$685K	50x	as long as short
Polymarket Perps AVAX-USDlong	+0.0100%	1h	11.180	long leg	$117K	$466K	10x
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.192	+0.107%	$201K	$302K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.205	+0.222%	$12K	$712K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.181	+0.009%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.184	+0.031%	$358K	$1.1M	75x	as long as short
BloFin AVAX-USDT	+0.0185%	8h	11.174	−0.054%	$5.0M	$8.7M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.178	−0.015%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0257%	1h	11.189	+0.079%	$4.7M	$13.6M	50x	as long as short
Hyperliquid AVAX	+0.0390%	1h	11.198	+0.161%	$42.5M	$58.4M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0405% / S −0.0244%	1h	11.186	+0.052%	$241K	—	120x	as long as short