Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.019%

Price spread now: Backpack against ApeX Omni−0.232%7-day average −0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$440.441% of the position

Long on ApeX Omni Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.167%−$17 on $10k

Price spread, last 3 days (all we have)+0.003%$0 · spread now −0.232%, 7d avg −0.024%

Together, before fees−0.164%−$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: Backpack is 0.207% cheaper against ApeX Omni than usual: you would sell low and buy high, −$21 on $10k if it goes back to its 7-day average of −0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni AVAXUSDT	11.217	0.0100	pay 0.0013% / 1h	55m 21s	$180K	$688K	50x
Short	Backpack AVAX_USDC_PERP	11.191	0.0100	get 0.0013% / 1h	55m 21s	$358K	$563K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against ApeX Omni. 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 ApeX OmnibpFee BackpackbpOrdersPrice spread, now −0.232%Rate

Funding earned: $0
Price spread: −0.232% → −0.024%: −$20.73
Slippage, 4 orders: −$24.13
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$64.86
Costs to cover: 0.441%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 18 min ago; Backpack: live order book, 18 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 ApeX Omni live order book, 18 min ago	6.24 bp	13.8 bp −$14	92.1 bp −$921	doesn't fit	doesn't fit
Sell Backpack live order book, 18 min ago	0.44 bp	8.4 bp −$8	33.6 bp −$336	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	11.180	−0.330%	$17K	$151K	12x	as long as short
Gate AVAX_USDT	−0.0408%	8h	11.170	−0.419%	$12.4M	$37.5M	75x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0288%	1h	11.151	−0.588%	$5.3M	$8.8M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.183	−0.305%	$103K	$105K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.166	−0.454%	$13K	—	150x	as long as short
Nado AVAX-PERP	+0.0007%	1h	11.166	−0.450%	$293K	$873K	10x	as long as short
Lighter AVAX	+0.0096%	1h	11.180	−0.334%	$1.2M	$3.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.169	−0.428%	$18K	$653K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.174	−0.381%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.177	−0.358%	$2.3M	$1.7M	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	11.182	−0.309%	$297K	$118K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.163	−0.477%	$119.6M	$507.9M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.158	−0.526%	$88.8M	$154.2M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.150	−0.597%	$20.2M	$140.7M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.165	−0.464%	$49.4M	$87.8M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.173	−0.392%	$15.6M	$24.0M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.156	−0.544%	$34.0M	$57.4M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.160	−0.508%	—	$86.6M	—	as long as short
Backpack AVAX_USDC_PERPshort	+0.0100%	1h	11.191	−0.232%	$358K	$563K	15x
Variational Omni AVAX	+0.0100%	8h	11.210	−0.063%	$3.0M	$2.4M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.219	+0.018%	$361K	$863K	10x	as long as short
ApeX Omni AVAXUSDTlong	+0.0100%	1h	11.217	long leg	$180K	$688K	50x
Polymarket Perps AVAX-USD	+0.0100%	1h	11.170	−0.419%	$131K	$440K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.167	−0.446%	$203K	$303K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.195	−0.196%	$12K	$735K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.155	−0.553%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.156	−0.540%	$360K	$1.0M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.197	−0.178%	$30.1M	$4.9M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.151	−0.589%	$666K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.174	−0.385%	$257K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0216%	1h	11.162	−0.494%	$4.5M	$12.9M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.211	−0.053%	$5.0M	$6.9M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.164	−0.468%	$1K	—	20x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0304%	1h	11.170	−0.419%	$910K	$7.5M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0435% / S −0.0259%	1h	11.165	−0.463%	$249K	—	120x	as long as short
Hyperliquid AVAX	+0.0606%	1h	11.187	−0.267%	$43.6M	$55.0M	10x	as long as short