AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0092%/8h= +10.1% APRnext payment +$0.12 per $10,000 · paid last 24h +0.042%

Price spread now: Coinbase International against Backpack+0.092%7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$470.467% of the position

Long on Backpack Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.287%+$29 on $10k

Price spread, last 4 days (all we have)−0.303%−$30 · spread now +0.092%, 7d avg +0.045%

Together, before fees−0.016%−$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Coinbase International is 0.046% dearer against Backpack than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AVAX_USDC_PERP	10.919	0.0100	pay 0.0013% / 1h	19m 01s	$441K	$535K	15x
Short	Coinbase International AVAX-PERP-INTX	10.929	0.0192	get 0.0024% / 1h	19m 01s	$864K	$5.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.092%Rate

Funding earned: $19.32
Price spread: +0.092% → +0.045%: $4.61
Slippage, 4 orders: −$26.67
Fee Backpack: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$22.74
Costs to cover: 0.467%
Break-even: 15.2 days

Slippage from Backpack: live order book, 32 min ago; Coinbase International: live order book, 3 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, 32 min ago	0.46 bp	11.5 bp −$11	43.3 bp −$433	doesn't fit	doesn't fit
Sell Coinbase International live order book, 3 min ago	2.74 bp	13.2 bp −$13	18.4 bp −$184	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
Kraken Futures PF_AVAXUSD	−0.0184%	1h	10.919	−0.002%	$3.8M	$11.5M	50x	as long as short
Variational Omni AVAX	−0.0128%	8h	10.917	−0.016%	$3.0M	$2.1M	—	as long as short
Gate AVAX_USDT	−0.0088%	8h	10.916	−0.027%	$14.4M	$28.5M	75x	as long as short
SoDEX AVAX-USD	−0.0024%	1h	10.913	−0.055%	$19K	$68K	10x	as long as short
Phemex AVAXUSDT	−0.0024%	8h	10.912	−0.064%	$29.1M	$5.5M	50x	as long as short
Bybit AVAXUSDT	−0.0014%	8h	10.913	−0.055%	$85.1M	$134.4M	75x	as long as short
Nado AVAX-PERP	−0.0004%	1h	10.915	−0.032%	$277K	$307K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.920	+0.008%	$93K	$110K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.919	0.000%	$5.0M	$6.6M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0002%	1h	10.917	−0.019%	$23K	—	150x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	−1.456%	$17K	$151K	12x	as long as short
Lighter AVAX	+0.0096%	1h	10.916	−0.026%	$1.2M	$2.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.912	−0.064%	$20K	$443K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0099%	8h	10.911	−0.074%	$12K	$62	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.917	−0.019%	$2.3M	$1.3M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.917	−0.019%	$275K	$122K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.914	−0.046%	$115.0M	$381.2M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.912	−0.064%	$19.4M	$105.5M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.915	−0.037%	$53.0M	$72.9M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.918	−0.009%	$14.3M	$19.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.912	−0.064%	$33.2M	$44.6M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.914	−0.046%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERPlong	+0.0100%	1h	10.919	long leg	$441K	$535K	15x
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.915	−0.035%	$346K	$1.4M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.925	+0.055%	$176K	$662K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.914	−0.046%	$138K	$247K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.920	+0.009%	$236K	$218K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.942	+0.207%	$12K	$778K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.913	−0.051%	$325K	$942K	75x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.910	−0.085%	$619K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.908	−0.105%	$251K	—	3x	as long as short
Coinbase International AVAX-PERP-INTXshort	+0.0192%	1h	10.929	+0.092%	$864K	$5.2M	50x
Hyperliquid AVAX	+0.0197%	1h	10.932	+0.119%	$36.3M	$39.0M	10x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.915	−0.037%	$4.8M	$5.3M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.923	+0.039%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0294%	1h	10.917	−0.016%	$230K	—	120x	as long as short