Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.009%

Price spread now: Lighter against SunX−0.173%7-day average −0.300% · you buy dearer than you sell

Net, funding: paid 7d − costs−$184as in the Funding arb table

Net, price: spread back to 7d avg − costs−$152as in the Price arb table

costs, in and out, $10k−$1651.649% of the position

Long on SunX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.191%−$19 on $10k

Price spread, last 3 days (all we have)+0.030%+$3 · spread now −0.173%, 7d avg −0.300%

Together, before fees−0.160%+ Points / potential airdropLighter: Season 3 · farm board−$16 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.126% dearer against SunX than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of −0.300%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX AVAX-USDT	11.298	0.0100	pay 0.0100% / 8h	52m 48s	$12K	$733K	20x
Short	Lighter AVAX	11.278	0.0096	get 0.0012% / 1h	52m 48s	$1.2M	$3.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.173%Rate

Funding earned: −$0.84
Price spread: −0.173% → −0.300%: $12.61
Slippage, 4 orders: −$156.94
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$153.17
Costs to cover: 1.649%
Break-even: never at this rate

Slippage from SunX: live order book, 9 min ago; Lighter: live order book, 10 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, 9 min ago	43.39 bp	56.9 bp −$57	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 10 min ago	2.22 bp	2.9 bp −$3	10.9 bp −$109	94.5 bp −$9,455	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	11.200	−0.867%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0118%	1h	11.274	−0.212%	$297K	$891K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0016%	1h	11.277	−0.185%	$5.4M	$9.0M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.284	−0.119%	$104K	$111K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.277	−0.186%	$13K	—	150x	as long as short
Variational Omni AVAX	+0.0042%	8h	11.222	−0.672%	$3.0M	$2.4M	—	as long as short
Lighter AVAXshort	+0.0096%	1h	11.278	−0.173%	$1.2M	$3.3M	10x
Popdex AVAXUSDT	+0.0096%	1h	11.271	−0.238%	$18K	$677K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.275	−0.204%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.282	−0.145%	$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	11.282	−0.143%	$300K	$120K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.277	−0.188%	$120.6M	$520.9M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.278	−0.176%	$89.7M	$156.3M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.277	−0.185%	$20.3M	$145.7M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.283	−0.132%	$12.3M	$40.0M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.276	−0.194%	$51.3M	$93.0M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.289	−0.079%	$15.8M	$24.4M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.278	−0.176%	$34.4M	$59.5M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.281	−0.150%	—	$87.0M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.284	−0.123%	$361K	$569K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.253	−0.399%	$359K	$877K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.225	−0.645%	$180K	$686K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.278	−0.176%	$134K	$457K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.285	−0.114%	$205K	$303K	20x	as long as short
SunX AVAX-USDTlong	+0.0100%	8h	11.298	long leg	$12K	$733K	20x
SoDEX AVAX-USD	+0.0100%	1h	11.279	−0.167%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.277	−0.181%	$365K	$1.0M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.269	−0.256%	$30.3M	$5.0M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.280	−0.156%	$672K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.275	−0.201%	$259K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.268	−0.265%	$5.0M	$7.8M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.275	−0.198%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0269%	1h	11.286	−0.102%	$4.6M	$13.3M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0280%	1h	11.253	−0.397%	$918K	$8.1M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0416% / S −0.0267%	1h	11.278	−0.180%	$238K	—	120x	as long as short
Hyperliquid AVAX	+0.0822%	1h	11.300	+0.019%	$43.7M	$55.2M	10x	as long as short