Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0101%/8h= −11.0% APRpaid last 24h −0.018%

Price spread now: Nado against SunX−0.286%48s7-day average −0.265% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1711.707% of the position

Long on SunX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.025%−$3 on $10k

Price spread, last 3 days (all we have)+0.211%+$21 · spread now −0.286%, 7d avg −0.265%

Together, before fees+0.186%+ Points / potential airdropNado: Active · farm board+$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Nado is 0.021% cheaper against SunX than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.265%). Swap the legs. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX AVAX-USDT	11.297	0.0100	pay 0.0100% / 8h	1h 34m	$12K	$729K	20x
Short	Nado AVAX-PERP	11.265	−0.0001	pay 0.0000% / 1h	34m 32s	$297K	$896K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.286%Rate

Funding earned: −$21.17
Price spread: −0.286% → −0.265%: −$2.12
Slippage, 4 orders: −$155.7
Fee SunX: 4 bp × 2 orders: −$8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$193.99
Costs to cover: 1.707%
Break-even: never at this rate

Slippage from SunX: live order book, 37 min ago; Nado: live order book, 49 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, 37 min ago	41.86 bp	55.4 bp −$55	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 49 min ago	1.77 bp	5.3 bp −$5	17.8 bp −$178	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	11.220	−0.684%	$17K	$151K	12x	as long as short
Variational Omni AVAX	−0.0025%	8h	11.253	−0.390%	$3.0M	$2.4M	—	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0016%	1h	11.268	−0.259%	$5.4M	$9.2M	25x	as long as short
Nado AVAX-PERPshort	−0.0001%	1h	11.265	−0.286%	$297K	$896K	10x
dYdX AVAX-USD	0.0000%	1h	11.268	−0.257%	$99K	$107K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0004%	1h	11.268	−0.259%	$16K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.269	−0.249%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.264	−0.295%	$16K	$694K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0099%	8h	11.276	−0.186%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.267	−0.268%	$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	11.271	−0.236%	$299K	$120K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.268	−0.263%	$120.5M	$526.2M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.265	−0.286%	$88.4M	$157.1M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.267	−0.268%	$20.3M	$146.7M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.280	−0.153%	$12.6M	$40.1M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.263	−0.304%	$52.2M	$100.0M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.270	−0.242%	$16.7M	$24.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.265	−0.286%	$34.3M	$60.3M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.279	−0.162%	—	$6.6M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.271	−0.233%	$360K	$571K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.255	−0.377%	$360K	$898K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.258	−0.348%	$181K	$686K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.268	−0.259%	$134K	$459K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.278	−0.171%	$203K	$301K	20x	as long as short
SunX AVAX-USDTlong	+0.0100%	8h	11.297	long leg	$12K	$729K	20x
SoDEX AVAX-USD	+0.0100%	1h	11.269	−0.251%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.255	−0.379%	$363K	$1.1M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.269	−0.251%	$30.3M	$5.0M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.275	−0.196%	$673K	$2.2M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.271	−0.233%	$259K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0192%	1h	11.272	−0.224%	$909K	$8.3M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.268	−0.259%	$5.0M	$8.0M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.262	−0.310%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0402% / S −0.0244%	1h	11.266	−0.275%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0598%	1h	11.284	−0.119%	$43.7M	$57.1M	10x	as long as short
Kraken Futures PF_AVAXUSD	+0.0627%	1h	11.275	−0.198%	$4.6M	$13.5M	50x	as long as short