Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.032%

Price spread now: BloFin against Backpack0.000%7-day average −0.003% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$340.343% of the position

Long on Backpack Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.333%+$33 on $10k

Price spread, last 3 days (all we have)−0.133%−$13 · spread now 0.000%, 7d avg −0.003%

Together, before fees+0.201%+$20 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.003%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AVAX_USDC_PERP	11.264	0.0100	pay 0.0013% / 1h	16m 28s	$361K	$568K	15x
Short	BloFin AVAX-USDT	11.264	0.0220	get 0.0220% / 8h	1h 16m	$5.0M	$8.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now 0.000%Rate

Funding earned: $25.2
Price spread: 0.000% → −0.003%: $0.35
Slippage, 4 orders: −$12.32
Fee Backpack: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$8.77
Costs to cover: 0.343%
Break-even: 9.4 days

Slippage from Backpack: live order book, 2 min ago; BloFin: 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 Backpack live order book, 2 min ago	0.44 bp	10.1 bp −$10	35.6 bp −$356	doesn't fit	doesn't fit
Sell BloFin live order book, 2 min ago	0.89 bp	9.3 bp −$9	12.0 bp −$120	32.9 bp −$3,287	66.9 bp −$33.4K

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	11.210	−0.479%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0105%	1h	11.260	−0.036%	$5.4M	$9.2M	25x	as long as short
Nado AVAX-PERP	−0.0039%	1h	11.264	−0.004%	$297K	$893K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.261	−0.029%	$104K	$112K	10x	as long as short
Variational Omni AVAX	+0.0001%	8h	11.275	+0.098%	$3.0M	$2.4M	—	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.261	−0.028%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.263	−0.008%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.264	0.000%	$18K	$684K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0099%	8h	11.261	−0.025%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.265	+0.006%	$2.3M	$1.8M	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	11.265	+0.011%	$299K	$120K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.263	−0.012%	$120.6M	$524.4M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.261	−0.027%	$89.2M	$157.1M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.260	−0.036%	$20.3M	$146.4M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.263	−0.009%	$12.4M	$40.6M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.258	−0.053%	$52.1M	$100.1M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.268	+0.036%	$16.1M	$24.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.260	−0.036%	$34.2M	$59.9M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.264	0.000%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERPlong	+0.0100%	1h	11.264	long leg	$361K	$568K	15x
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.278	+0.121%	$360K	$877K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.290	+0.231%	$181K	$686K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.260	−0.036%	$134K	$459K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.268	+0.036%	$203K	$301K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.290	+0.228%	$12K	$732K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.261	−0.027%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.261	−0.031%	$364K	$1.1M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.261	−0.027%	$30.3M	$5.0M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.261	−0.024%	$672K	$2.2M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.257	−0.059%	$259K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0192%	1h	11.295	+0.275%	$912K	$8.3M	50x	as long as short
BloFin AVAX-USDTshort	+0.0220%	8h	11.264	0.000%	$5.0M	$8.0M	100x
Reya AVAXRUSDPERP	+0.0244%	1h	11.258	−0.053%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0408% / S −0.0254%	1h	11.261	−0.029%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0618%	1h	11.274	+0.089%	$43.6M	$56.8M	10x	as long as short
Kraken Futures PF_AVAXUSD	+0.0628%	1h	11.268	+0.033%	$4.6M	$13.5M	50x	as long as short