Funding arb · Price arb /

AVNT

all AVNT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0111%/8h= +12.1% APRpaid last 24h +0.033%

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

to open and closeno order booka leg has no order-book sample

Long on Backpack Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Bybit is 0.250% cheaper against Backpack than usual: you would sell low and buy high (spread −0.250% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$25 on $10k: about 7.5 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AVNT_USDC_PERP	0.1159	−0.0011	get 0.0001% / 1h	29m 59s	$31K	$43K	5x
Short	Bybit AVNTUSDT	0.1156	0.0100	get 0.0050% / 4h	3h 29m	$2.8M	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Backpack. 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 BackpackbpFee BybitbpOrdersPrice spread, now −0.250%Rate

Funding earned: $23.27
Price spread: −0.250% → 0.000%: −$25.02
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$22.75
Costs to cover: 0.210%
Break-even: 13.8 days

Slippage unknown: Backpack: no order-book sample; Bybit: live order book, 3 min ago. Net counts fees only.

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 Backpack no order-book sample	—	—	—	—	—
Sell Bybit live order book, 3 min ago	3.89 bp	40.0 bp −$40	156.5 bp −$1,565	doesn't fit	doesn't fit

Backpack: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

AVNT on 21 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
Deribit AVNT_USDC-PERPETUAL	−0.0613%	1h	0.1158	−0.104%	$272	$267	10x	as long as short
KuCoin AVNTUSDTM	−0.0050%	4h	0.1157	−0.147%	$2.2M	$4.4M	25x	as long as short
Backpack AVNT_USDC_PERPlong	−0.0011%	1h	0.1159	long leg	$31K	$43K	5x
Lighter AVNT	+0.0096%	1h	0.1163	+0.380%	$50K	$65K	5x	as long as short
Hyperliquid AVNT	+0.0100%	1h	0.1157	−0.181%	$673K	$298K	5x	as long as short
Aster AVNTUSDT	+0.0100%	4h	0.1158	−0.062%	$31K	$22K	5x	as long as short
Binance AVNTUSDT	+0.0100%	4h	0.1157	−0.163%	$3.3M	$6.1M	50x	as long as short
Bybit AVNTUSDTshort	+0.0100%	4h	0.1156	−0.250%	$2.8M	$2.3M	50x
OKX AVNT-USDT-SWAP	+0.0100%	4h	0.1157	−0.216%	$700K	$1.9M	20x	as long as short
Gate AVNT_USDT	+0.0100%	8h	0.1156	−0.267%	$228K	$105K	50x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AVNT_USDT	+0.0100%	4h	0.1155	−0.354%	$2.6M	$761K	100x	as long as short
Bitget AVNTUSDT	+0.0100%	4h	0.1158	−0.104%	$659K	$189K	20x	as long as short
BingX AVNT-USDT	+0.0100%	4h	0.1157	−0.207%	—	$6.6M	—	as long as short
Variational Omni AVNT	+0.0100%	4h	0.1156	−0.295%	$21K	$51K	—	as long as short
GRVT AVNT_USDT_Perp	+0.0100%	4h	0.1156	−0.269%	$192K	$1.1M	10x	as long as short
SunX AVNT-USDT	+0.0100%	4h	0.1161	+0.164%	$2K	$1.2M	20x	as long as short
HTX AVNT-USDT	+0.0100%	4h	0.1161	+0.164%	$35K	$67K	10x	as long as short
Extended AVNT-USD	+0.0104%	1h	0.1157	−0.191%	$25K	$210K	10x	as long as short
BloFin AVNT-USDT	+0.0155%	4h	0.1156	−0.285%	$168K	$73K	75x	as long as short
GMX AVNT/USD [ETH-USDC]	L +0.0289% / S −0.0838%	1h	0.1159	−0.028%	$7K	—	100x	as long as short
Coinbase International AVNT-PERP-INTX	+0.0360%	1h	0.1155	−0.336%	$17K	$13K	50x	as long as short