Funding arb · Price arb /

AVAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.020%

Price spread now: Backpack against SoDEX+0.027%7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on Backpack

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—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.027% dearer against SoDEX than usual: you sell high and buy low, +$3 on $10k if it 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	SoDEX AVAX-USD	11.190	0.0100	pay 0.0013% / 1h	14m 33s	$19K	$72K	10x
Short	Backpack AVAX_USDC_PERP	11.193	0.0100	get 0.0013% / 1h	14m 33s	$358K	$548K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against SoDEX. 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 SoDEXbpFee BackpackbpOrdersPrice spread, now +0.027%Rate

Funding earned: $0
Price spread: +0.027% → 0.000%: $2.68
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$15.32
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; Backpack: live order book, 59 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 SoDEX no order-book sample	—	—	—	—	—
Sell Backpack live order book, 59 min ago	0.44 bp	8.4 bp −$8	33.6 bp −$336	doesn't fit	doesn't fit

SoDEX: 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
Injective AVAX/USDC PERP	−0.1363%	1h	11.130	−0.536%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0107%	1h	11.187	−0.027%	$5.3M	$8.5M	25x	as long as short
Nado AVAX-PERP	−0.0057%	1h	11.189	−0.004%	$293K	$732K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.192	+0.020%	$103K	$105K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.190	0.000%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.194	+0.031%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.196	+0.054%	$15K	$611K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.196	+0.054%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.195	+0.047%	$2.3M	$1.5M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.196	+0.056%	$297K	$100K	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	11.196	+0.054%	$119.5M	$476.3M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.197	+0.063%	$89.2M	$147.5M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.196	+0.054%	$20.0M	$130.9M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.196	+0.054%	$12.1M	$38.3M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.196	+0.054%	$48.9M	$88.9M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.195	+0.045%	$15.4M	$23.0M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.197	+0.063%	$34.0M	$53.4M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.195	+0.045%	—	$85.0M	—	as long as short
Backpack AVAX_USDC_PERPshort	+0.0100%	1h	11.193	+0.027%	$358K	$548K	15x
Variational Omni AVAX	+0.0100%	8h	11.178	−0.109%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.170	−0.176%	$352K	$847K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.172	−0.161%	$180K	$688K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.190	0.000%	$131K	$372K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.195	+0.045%	$197K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.217	+0.239%	$12K	$719K	20x	as long as short
SoDEX AVAX-USDlong	+0.0100%	1h	11.190	long leg	$19K	$72K	10x
HTX AVAX-USDT	+0.0100%	8h	11.191	+0.004%	$362K	$937K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.189	−0.009%	$30.0M	$5.1M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.193	+0.027%	$671K	$2.0M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.182	−0.068%	$257K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0215%	1h	11.194	+0.036%	$4.3M	$12.5M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.188	−0.018%	$5.0M	$6.2M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.187	−0.024%	$1K	—	20x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0304%	1h	11.197	+0.063%	$924K	$6.5M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0298%	1h	11.189	−0.013%	$236K	—	120x	as long as short
Hyperliquid AVAX	+0.0684%	1h	11.208	+0.161%	$43.8M	$49.6M	10x	as long as short