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% APRpaid last 24h +0.022%

Price spread now: HTX against Backpack+0.058%7-day average −0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$85as in the Price arb table

costs, in and out, $10k−$950.946% of the position

Long on Backpack Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.165%+$17 on $10k

Price spread, last 3 days (all we have)−0.151%−$15 · spread now +0.058%, 7d avg −0.038%

Together, before fees+0.015%+$1 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: HTX is 0.096% dearer against Backpack than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AVAX_USDC_PERP	11.176	0.0100	pay 0.0013% / 1h	25m 35s	$357K	$551K	15x
Short	HTX AVAX-USDT	11.182	0.0100	get 0.0100% / 8h	7h 25m	$362K	$950K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.058%Rate

Funding earned: $0
Price spread: +0.058% → −0.038%: $9.61
Slippage, 4 orders: −$72.6
Fee Backpack: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$84.99
Costs to cover: 0.946%
Break-even: never at this rate

Slippage from Backpack: live order book, 48 min ago; HTX: live order book, 33 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, 48 min ago	0.44 bp	7.8 bp −$8	35.0 bp −$350	doesn't fit	doesn't fit
Sell HTX live order book, 33 min ago	27.31 bp	33.4 bp −$33	82.1 bp −$821	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	11.090	−0.770%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0048%	1h	11.184	+0.076%	$293K	$829K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0018%	1h	11.180	+0.036%	$5.3M	$8.6M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.178	+0.019%	$103K	$105K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.182	+0.052%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.177	+0.009%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.182	+0.054%	$17K	$618K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.164	−0.103%	$13K	$405	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.179	+0.030%	$2.3M	$1.6M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.178	+0.014%	$297K	$100K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AVAXUSDT	+0.0100%	8h	11.175	−0.008%	$119.0M	$482.2M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.169	−0.063%	$88.9M	$148.5M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.167	−0.081%	$20.0M	$132.8M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.176	0.000%	$12.2M	$38.2M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.174	−0.018%	$49.1M	$88.8M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.177	+0.009%	$15.4M	$23.3M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.170	−0.054%	$33.9M	$54.0M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.168	−0.072%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERPlong	+0.0100%	1h	11.176	long leg	$357K	$551K	15x
Variational Omni AVAX	+0.0100%	8h	11.181	+0.042%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.149	−0.244%	$359K	$851K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.139	−0.331%	$179K	$689K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.183	+0.063%	$131K	$373K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.189	+0.116%	$197K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.212	+0.323%	$11K	$721K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.182	+0.054%	$19K	$72K	10x	as long as short
HTX AVAX-USDTshort	+0.0100%	8h	11.182	+0.058%	$362K	$950K	75x
Phemex AVAXUSDT	+0.0100%	8h	11.182	+0.054%	$30.0M	$5.0M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.162	−0.125%	$670K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.180	+0.036%	$257K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0215%	1h	11.186	+0.091%	$4.3M	$12.6M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.154	−0.197%	$5.0M	$6.3M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.176	+0.003%	$1K	—	20x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0304%	1h	11.173	−0.027%	$908K	$6.8M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0298%	1h	11.181	+0.046%	$236K	—	120x	as long as short
Hyperliquid AVAX	+0.0690%	1h	11.196	+0.179%	$43.7M	$51.1M	10x	as long as short