Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.008%

Price spread now: Phemex against SunX−0.275%7-day average −0.244% · you buy dearer than you sell

Net, funding: paid 7d − costs−$195as in the Funding arb table

Net, price: spread back to 7d avg − costs−$193as in the Price arb table

costs, in and out, $10k−$1901.901% of the position

Long on SunX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.046%−$5 on $10k

Price spread, last 3 days (all we have)+0.024%+$2 · spread now −0.275%, 7d avg −0.244%

Together, before fees−0.022%−$2 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: Phemex is 0.030% cheaper against SunX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.244%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX AVAX-USDT	11.248	0.0100	pay 0.0100% / 8h	7h 11m	$12K	$719K	20x
Short	Phemex AVAXUSDT	11.217	0.0100	get 0.0100% / 8h	7h 11m	$30.1M	$5.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.275%Rate

Funding earned: $0
Price spread: −0.275% → −0.244%: −$3.04
Slippage, 4 orders: −$170.11
Fee SunX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$193.15
Costs to cover: 1.901%
Break-even: never at this rate

Slippage from SunX: live order book, 41 min ago; Phemex: live order book, 3 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, 41 min ago	41.89 bp	55.4 bp −$55	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	1.34 bp	15.3 bp −$15	25.0 bp −$250	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	−0.1363%	1h	11.170	−0.693%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0062%	1h	11.219	−0.257%	$294K	$727K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.215	−0.294%	$103K	$105K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	11.212	−0.319%	$5.3M	$8.4M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.214	−0.305%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.212	−0.316%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.219	−0.257%	$15K	$608K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.221	−0.235%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.217	−0.275%	$2.3M	$1.5M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.223	−0.223%	$298K	$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	11.207	−0.366%	$119.6M	$475.7M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.211	−0.328%	$89.1M	$147.2M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.210	−0.337%	$20.0M	$130.7M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.213	−0.310%	$12.2M	$38.4M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.212	−0.319%	$51.0M	$89.2M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.217	−0.275%	$15.5M	$23.0M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.210	−0.337%	$34.0M	$53.3M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.209	−0.346%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.214	−0.301%	$359K	$547K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.214	−0.305%	$3.0M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.202	−0.409%	$353K	$847K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.190	−0.515%	$180K	$688K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.221	−0.239%	$132K	$370K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.219	−0.257%	$197K	$313K	20x	as long as short
SunX AVAX-USDTlong	+0.0100%	8h	11.248	long leg	$12K	$719K	20x
SoDEX AVAX-USD	+0.0100%	1h	11.213	−0.310%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.207	−0.361%	$364K	$943K	75x	as long as short
Phemex AVAXUSDTshort	+0.0100%	8h	11.217	−0.275%	$30.1M	$5.1M	50x
Extended AVAX-USD	+0.0104%	1h	11.208	−0.350%	$671K	$2.0M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.212	−0.319%	$258K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0214%	1h	11.216	−0.282%	$4.3M	$12.5M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.210	−0.337%	$5.0M	$6.2M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.217	−0.272%	$1K	—	20x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0304%	1h	11.223	−0.221%	$913K	$6.5M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0298%	1h	11.214	−0.304%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0675%	1h	11.228	−0.177%	$43.9M	$49.6M	10x	as long as short