Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.011%

Price spread now: ApeX Omni against Backpack−0.202%7-day average +0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as in the Funding arb table

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

costs, in and out, $10k−$420.423% of the position

Long on Backpack Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.134%+$13 on $10k

Price spread, last 4 days (all we have)+0.515%+$52 · spread now −0.202%, 7d avg +0.026%

Together, before fees+0.649%+$65 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: ApeX Omni is 0.228% cheaper against Backpack than usual: you would sell low and buy high, −$23 on $10k if it goes back to its 7-day average of +0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AVAX_USDC_PERP	10.903	0.0100	pay 0.0013% / 1h	8m 22s	$391K	$567K	15x
Short	ApeX Omni AVAXUSDT	10.881	0.0100	get 0.0013% / 1h	8m 22s	$155K	$678K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni 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 ApeX OmnibpOrdersPrice spread, now −0.202%Rate

Funding earned: $0
Price spread: −0.202% → +0.026%: −$22.75
Slippage, 4 orders: −$22.34
Fee Backpack: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$65.09
Costs to cover: 0.423%
Break-even: never at this rate

Slippage from Backpack: live order book, 39 min ago; ApeX Omni: live order book, 38 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 Backpack live order book, 39 min ago	0.46 bp	9.3 bp −$9	41.1 bp −$411	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 38 min ago	5.07 bp	12.1 bp −$12	97.4 bp −$974	doesn't fit	doesn't fit

AVAX on 36 exchanges

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
Variational Omni AVAX	−0.0155%	8h	10.866	−0.342%	$3.1M	$2.0M	—	as long as short
Gate AVAX_USDT	−0.0106%	8h	10.898	−0.046%	$14.8M	$26.9M	75x	as long as short
Bybit AVAXUSDT	−0.0071%	8h	10.896	−0.064%	$84.9M	$129.7M	75x	as long as short
Kraken Futures PF_AVAXUSD	−0.0056%	1h	10.899	−0.033%	$3.8M	$10.7M	50x	as long as short
Phemex AVAXUSDT	−0.0050%	8h	10.894	−0.083%	$29.0M	$5.5M	50x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.906	+0.025%	$93K	$100K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.900	−0.028%	$5.0M	$6.5M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0002%	1h	10.897	−0.053%	$24K	—	150x	as long as short
Nado AVAX-PERP	+0.0009%	1h	10.896	−0.069%	$278K	$273K	10x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	−1.312%	$17K	$151K	12x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps AVAX-USD	+0.0045%	1h	10.894	−0.083%	$60K	$366K	10x	as long as short
OKX AVAX-USDT-SWAP	+0.0057%	8h	10.896	−0.064%	$19.3M	$99.7M	50x	as long as short
SoDEX AVAX-USD	+0.0058%	1h	10.895	−0.073%	$19K	$65K	10x	as long as short
Paradex AVAX-USD-PERP	+0.0094%	8h	10.901	−0.018%	$12K	$62	20x	as long as short
MEXC AVAX_USDT	+0.0094%	8h	10.899	−0.037%	$52.8M	$70.2M	200x	as long as short
Binance AVAXUSDT	+0.0095%	8h	10.899	−0.037%	$114.7M	$364.7M	75x	as long as short
Lighter AVAX	+0.0096%	1h	10.901	−0.022%	$1.2M	$1.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.898	−0.046%	$25K	$429K	50x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.912	+0.083%	$36.4M	$36.6M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.899	−0.036%	$2.3M	$1.2M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.905	+0.023%	$274K	$86K	10x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.902	−0.009%	$14.3M	$18.3M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.896	−0.064%	$33.2M	$42.3M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.896	−0.064%	—	$38.1M	—	as long as short
Backpack AVAX_USDC_PERPlong	+0.0100%	1h	10.903	long leg	$391K	$567K	15x
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.881	−0.197%	$341K	$1.6M	10x	as long as short
ApeX Omni AVAXUSDTshort	+0.0100%	1h	10.881	−0.202%	$155K	$678K	50x
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.905	+0.018%	$236K	$208K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.924	+0.194%	$12K	$772K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.895	−0.078%	$328K	$901K	75x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.895	−0.069%	$621K	$1.3M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.894	−0.085%	$250K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0208%	1h	10.892	−0.101%	$857K	$5.0M	50x	as long as short
BloFin AVAX-USDT	+0.0216%	8h	10.891	−0.110%	$4.7M	$5.2M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.890	−0.119%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0464% / S −0.0317%	1h	10.879	−0.219%	$241K	—	120x	as long as short