Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.022%

Price spread now: Backpack against SunX−0.248%7-day average −0.250% · you buy dearer than you sell

Net, funding: paid 7d − costs−$192as in the Funding arb table

Net, price: spread back to 7d avg − costs−$175as in the Price arb table

costs, in and out, $10k−$1751.749% of the position

Long on SunX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.171%−$17 on $10k

Price spread, last 3 days (all we have)+0.099%+$10 · spread now −0.248%, 7d avg −0.250%

Together, before fees−0.072%−$7 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX AVAX-USDT	11.257	0.0100	pay 0.0100% / 8h	34m 52s	$12K	$733K	20x
Short	Backpack AVAX_USDC_PERP	11.229	0.0100	get 0.0013% / 1h	34m 52s	$359K	$563K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against SunX. 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 SunXbpFee BackpackbpOrdersPrice spread, now −0.248%Rate

Funding earned: $0
Price spread: −0.248% → −0.250%: $0.25
Slippage, 4 orders: −$156.89
Fee SunX: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$174.64
Costs to cover: 1.749%
Break-even: never at this rate

Slippage from SunX: live order book, 27 min ago; Backpack: live order book, 44 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 SunX live order book, 27 min ago	43.39 bp	56.9 bp −$57	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 44 min ago	0.44 bp	5.4 bp −$5	26.1 bp −$261	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	−0.1451%	1h	11.190	−0.594%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0195%	1h	11.223	−0.301%	$5.3M	$8.9M	25x	as long as short
Nado AVAX-PERP	−0.0090%	1h	11.226	−0.274%	$296K	$883K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.230	−0.242%	$103K	$111K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.227	−0.263%	$13K	—	150x	as long as short
Variational Omni AVAX	+0.0072%	8h	11.226	−0.273%	$3.0M	$2.4M	—	as long as short
Lighter AVAX	+0.0096%	1h	11.228	−0.260%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.228	−0.257%	$19K	$673K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.225	−0.279%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.232	−0.221%	$2.3M	$1.8M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AVAX	+0.0100%	1h	11.231	−0.233%	$298K	$118K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.228	−0.256%	$120.1M	$514.7M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.229	−0.248%	$89.3M	$155.2M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.229	−0.248%	$20.2M	$144.1M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.228	−0.257%	$12.5M	$40.3M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.230	−0.239%	$51.5M	$93.2M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.235	−0.195%	$15.8M	$24.2M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.229	−0.248%	$34.2M	$58.3M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.229	−0.248%	—	$86.9M	—	as long as short
Backpack AVAX_USDC_PERPshort	+0.0100%	1h	11.229	−0.248%	$359K	$563K	15x
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.232	−0.221%	$352K	$862K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.236	−0.186%	$180K	$685K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.229	−0.248%	$132K	$440K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.234	−0.203%	$204K	$303K	20x	as long as short
SunX AVAX-USDTlong	+0.0100%	8h	11.257	long leg	$12K	$733K	20x
SoDEX AVAX-USD	+0.0100%	1h	11.226	−0.274%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.227	−0.261%	$363K	$1.0M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.226	−0.274%	$30.2M	$4.9M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.228	−0.256%	$672K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.221	−0.321%	$258K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.222	−0.310%	$5.0M	$7.5M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.225	−0.286%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0270%	1h	11.230	−0.239%	$4.6M	$13.1M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0280%	1h	11.245	−0.106%	$914K	$7.9M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0422% / S −0.0277%	1h	11.227	−0.270%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0811%	1h	11.248	−0.079%	$43.7M	$55.0M	10x	as long as short