Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0092%/8h= +10.1% APRpaid last 24h +0.013%

Price spread now: Coinbase International against SunX−0.162%7-day average −0.212% · you buy dearer than you sell

Net, funding: paid 7d − costs−$170as in the Funding arb table

Net, price: spread back to 7d avg − costs−$178as in the Price arb table

costs, in and out, $10k−$1831.834% of the position

Long on SunX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.129%+$13 on $10k

Price spread, last 3 days (all we have)−0.046%−$5 · spread now −0.162%, 7d avg −0.212%

Together, before fees+0.084%+$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Coinbase International is 0.049% dearer against SunX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.212%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX AVAX-USDT	11.277	0.0100	pay 0.0100% / 8h	1h 42m	$12K	$729K	20x
Short	Coinbase International AVAX-PERP-INTX	11.259	0.0192	get 0.0024% / 1h	42m 12s	$907K	$8.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.162%Rate

Funding earned: $19.32
Price spread: −0.162% → −0.212%: $4.92
Slippage, 4 orders: −$165.38
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$159.14
Costs to cover: 1.834%
Break-even: 64.7 days

Slippage from SunX: live order book, 29 min ago; Coinbase International: live order book, 2 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, 29 min ago	41.86 bp	55.4 bp −$55	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 2 min ago	4.88 bp	13.5 bp −$13	21.0 bp −$210	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	−0.0570%	1h	11.190	−0.774%	$17K	$151K	12x	as long as short
Variational Omni AVAX	−0.0033%	8h	11.187	−0.797%	$2.9M	$2.4M	—	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0017%	1h	11.244	−0.295%	$5.3M	$9.2M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.249	−0.252%	$99K	$107K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0004%	1h	11.247	−0.267%	$16K	—	150x	as long as short
Nado AVAX-PERP	+0.0015%	1h	11.242	−0.309%	$297K	$899K	10x	as long as short
Lighter AVAX	+0.0096%	1h	11.245	−0.288%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.245	−0.286%	$15K	$695K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0099%	8h	11.245	−0.288%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.249	−0.249%	$2.3M	$1.9M	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	11.254	−0.210%	$299K	$120K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.244	−0.297%	$120.3M	$528.0M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.241	−0.322%	$87.9M	$157.7M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.244	−0.295%	$20.2M	$146.8M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.245	−0.286%	$12.6M	$40.0M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.244	−0.295%	$52.2M	$99.8M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.251	−0.233%	$16.5M	$24.4M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.241	−0.322%	$34.2M	$60.5M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.243	−0.304%	—	$89.7M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.242	−0.313%	$359K	$578K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.227	−0.449%	$355K	$886K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.230	−0.419%	$180K	$686K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.250	−0.242%	$134K	$459K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.254	−0.207%	$202K	$301K	20x	as long as short
SunX AVAX-USDTlong	+0.0100%	8h	11.277	long leg	$12K	$729K	20x
SoDEX AVAX-USD	+0.0100%	1h	11.245	−0.286%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.246	−0.273%	$362K	$1.1M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.246	−0.278%	$30.3M	$5.0M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.244	−0.300%	$669K	$2.2M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.210	−0.597%	$257K	—	3x	as long as short
Coinbase International AVAX-PERP-INTXshort	+0.0192%	1h	11.259	−0.162%	$907K	$8.3M	50x
BloFin AVAX-USDT	+0.0220%	8h	11.256	−0.189%	$5.1M	$8.0M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.247	−0.272%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0396% / S −0.0236%	1h	11.247	−0.271%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0534%	1h	11.259	−0.162%	$43.6M	$57.9M	10x	as long as short
Kraken Futures PF_AVAXUSD	+0.0629%	1h	11.252	−0.228%	$4.6M	$13.6M	50x	as long as short