Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0145%/8h= −15.8% APRpaid last 24h −0.051%

Price spread now: Phemex against Reya+0.091%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Phemex

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

The price spread pays, funding is against you. Phemex is 0.091% dearer against Reya than usual: you sell high and buy low (spread +0.091% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya AVAXRUSDPERP	10.713	0.0245	pay 0.0031% / 1h	58m 02s	$1K	—	20x
Short	Phemex AVAXUSDT	10.723	0.0100	get 0.0100% / 8h	1h 58m	$28.6M	$5.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Reya. 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 ReyabpFee PhemexbpOrdersPrice spread, now +0.091%Rate

Funding earned: −$30.36
Price spread: +0.091% → 0.000%: $9.11
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$39.25
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Phemex: live order book, 6 min ago. 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 Reya no order-book sample	—	—	—	—	—
Sell Phemex live order book, 6 min ago	2.33 bp	19.0 bp −$19	31.6 bp −$316	doesn't fit	doesn't fit

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 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
Nado AVAX-PERP	−0.0398%	1h	10.727	+0.128%	$287K	$340K	10x	as long as short
Variational Omni AVAX	−0.0030%	8h	10.718	+0.040%	$2.8M	$2.1M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.726	+0.118%	$89K	$117K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.722	+0.082%	$4.8M	$7.5M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.721	+0.072%	$12K	—	150x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	+0.436%	$17K	$152K	12x	as long as short
Gate AVAX_USDT	+0.0038%	8h	10.720	+0.063%	$12.7M	$31.9M	75x	as long as short
Bybit AVAXUSDT	+0.0087%	8h	10.719	+0.054%	$82.1M	$149.1M	75x	as long as short
Lighter AVAX	+0.0096%	1h	10.721	+0.070%	$1.2M	$2.5M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.727	+0.128%	$23K	$437K	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex AVAX-USD-PERP	+0.0097%	8h	10.722	+0.081%	$12K	$212	20x	as long as short
SoDEX AVAX-USD	+0.0097%	1h	10.718	+0.044%	$18K	$72K	10x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.730	+0.156%	$37.6M	$44.7M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.722	+0.078%	$2.2M	$1.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.724	+0.098%	$269K	$132K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.721	+0.072%	$114.2M	$432.7M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.717	+0.035%	$18.8M	$114.2M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.722	+0.082%	$45.6M	$80.1M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.720	+0.063%	$13.7M	$23.0M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.719	+0.054%	$32.5M	$49.2M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.720	+0.063%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.723	+0.091%	$428K	$564K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.722	+0.081%	$345K	$1.0M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.723	+0.091%	$173K	$663K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.726	+0.119%	$136K	$354K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.727	+0.128%	$231K	$351K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.748	+0.325%	$11K	$767K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.719	+0.049%	$343K	$879K	75x	as long as short
Phemex AVAXUSDTshort	+0.0100%	8h	10.723	+0.091%	$28.6M	$5.8M	50x
Extended AVAX-USD	+0.0104%	1h	10.716	+0.025%	$612K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.714	+0.011%	$246K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0113%	1h	10.726	+0.119%	$4.2M	$11.5M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0200%	1h	10.734	+0.194%	$933K	$5.1M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.715	+0.016%	$4.7M	$5.7M	100x	as long as short
Reya AVAXRUSDPERPlong	+0.0245%	1h	10.713	long leg	$1K	—	20x
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0295%	1h	10.727	+0.127%	$227K	—	120x	as long as short