Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.006%

Price spread now: Phemex against Aevo+0.009%7-day average +0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,016as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,017as in the Price arb table

costs, in and out, $10k−$1,01210.123% of the position

Long on Aevo Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.040%−$4 on $10k

Price spread, last 3 days (all we have)+0.010%+$1 · spread now +0.009%, 7d avg +0.051%

Together, before fees−0.030%−$3 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 0.042% cheaper against Aevo than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.051%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo AVAX-PERP	11.191	0.0104	pay 0.0013% / 1h	46m 41s	$257K	—	3x
Short	Phemex AVAXUSDT	11.192	0.0100	get 0.0100% / 8h	1h 46m	$30.1M	$5.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Aevo. 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 AevobpFee PhemexbpOrdersPrice spread, now +0.009%Rate

Funding earned: −$0.84
Price spread: +0.009% → +0.051%: −$4.16
Slippage, 4 orders: −$984.34
Fee Aevo: 8 bp × 2 orders: −$16
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$1,017.34
Costs to cover: 10.123%
Break-even: never at this rate

Slippage from Aevo: live order book, 37 min ago; Phemex: 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 Aevo live order book, 37 min ago	238.27 bp	486.0 bp −$486	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	5.81 bp	19.1 bp −$19	31.0 bp −$310	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	11.140	−0.456%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0107%	1h	11.190	−0.009%	$5.3M	$9.3M	25x	as long as short
Variational Omni AVAX	−0.0043%	8h	11.261	+0.621%	$3.0M	$2.3M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	11.192	+0.005%	$98K	$107K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0004%	1h	11.196	+0.046%	$16K	—	150x	as long as short
Nado AVAX-PERP	+0.0023%	1h	11.201	+0.094%	$295K	$912K	10x	as long as short
Gate AVAX_USDT	+0.0095%	8h	11.188	−0.027%	$12.5M	$39.9M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.191	−0.003%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.188	−0.027%	$14K	$696K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0099%	8h	11.190	−0.010%	$13K	$766	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster AVAXUSDT	+0.0100%	8h	11.187	−0.036%	$2.3M	$1.9M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.192	+0.005%	$297K	$120K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.188	−0.023%	$119.7M	$528.6M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.189	−0.018%	$87.6M	$157.7M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.190	−0.009%	$20.1M	$146.1M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.192	+0.009%	$52.2M	$99.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.195	+0.036%	$16.1M	$24.4M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.189	−0.018%	$33.9M	$60.4M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.191	0.000%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.193	+0.018%	$357K	$579K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.257	+0.590%	$356K	$885K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.217	+0.232%	$180K	$686K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.203	+0.107%	$133K	$459K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.208	+0.152%	$202K	$301K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.218	+0.239%	$12K	$726K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.191	0.000%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.216	+0.219%	$361K	$1.1M	75x	as long as short
Phemex AVAXUSDTshort	+0.0100%	8h	11.192	+0.009%	$30.1M	$5.0M	50x
Extended AVAX-USD	+0.0104%	1h	11.188	−0.030%	$669K	$2.2M	25x	as long as short
Aevo AVAX-PERPlong	+0.0104%	1h	11.191	long leg	$257K	—	3x
Coinbase International AVAX-PERP-INTX	+0.0192%	1h	11.205	+0.125%	$903K	$8.3M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.193	+0.018%	$5.0M	$8.0M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.192	+0.011%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0396% / S −0.0236%	1h	11.196	+0.046%	$236K	—	120x	as long as short
Hyperliquid AVAX	+0.0493%	1h	11.207	+0.143%	$43.4M	$57.9M	10x	as long as short
Kraken Futures PF_AVAXUSD	+0.0632%	1h	11.198	+0.065%	$4.6M	$13.6M	50x	as long as short