Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.004%

Price spread now: Phemex against Polymarket Perps0.000%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$420.420% of the position

Long on Polymarket Perps Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.007%+$1 on $10k

Price spread, last 3 days (all we have)−0.112%−$11 · spread now 0.000%, 7d avg −0.003%

Together, before fees−0.105%−$10 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps AVAX-USD	11.126	0.0100	pay 0.0013% / 1h	25m 45s	$131K	$363K	10x
Short	Phemex AVAXUSDT	11.126	0.0100	get 0.0100% / 8h	6h 25m	$29.7M	$5.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.003%: $0.25
Slippage, 4 orders: −$21.98
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$41.73
Costs to cover: 0.420%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 42 min ago; Phemex: 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, 42 min ago	2.23 bp	6.2 bp −$6	7.3 bp −$73	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	1.35 bp	16.0 bp −$16	24.1 bp −$241	doesn't fit	doesn't fit

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	11.080	−0.413%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0046%	1h	11.121	−0.045%	$286K	$508K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0020%	1h	11.123	−0.027%	$5.2M	$8.3M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.100	−0.233%	$102K	$96K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.124	−0.018%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0045%	8h	11.101	−0.225%	$12.1M	$36.6M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.109	−0.150%	$1.2M	$3.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.121	−0.045%	$15K	$595K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.111	−0.138%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.118	−0.071%	$2.3M	$1.4M	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	11.106	−0.177%	$295K	$107K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.106	−0.183%	$118.4M	$460.2M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.109	−0.153%	$88.6M	$143.6M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.111	−0.135%	$19.9M	$123.8M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.108	−0.162%	$48.8M	$82.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.115	−0.099%	$15.5M	$22.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.106	−0.180%	$33.4M	$51.1M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.110	−0.144%	—	$83.4M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.128	+0.018%	$356K	$535K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.122	−0.039%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.106	−0.180%	$354K	$810K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.110	−0.144%	$179K	$677K	50x	as long as short
Polymarket Perps AVAX-USDlong	+0.0100%	1h	11.126	long leg	$131K	$363K	10x
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.130	+0.036%	$196K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.150	+0.220%	$12K	$717K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.124	−0.018%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.124	−0.013%	$361K	$938K	75x	as long as short
Phemex AVAXUSDTshort	+0.0100%	8h	11.126	0.000%	$29.7M	$5.6M	50x
Extended AVAX-USD	+0.0104%	1h	11.105	−0.189%	$671K	$1.7M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.119	−0.067%	$255K	—	3x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.122	−0.038%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0254%	1h	11.127	+0.013%	$4.3M	$11.9M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0288%	1h	11.137	+0.099%	$904K	$5.9M	50x	as long as short
Hyperliquid AVAX	+0.0401%	1h	11.123	−0.027%	$43.2M	$47.1M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.124	−0.019%	$236K	—	120x	as long as short