Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.018%

Price spread now: Polymarket Perps against Backpack+0.098%7-day average +0.023% · 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−$23as in the Price arb table

costs, in and out, $10k−$300.303% of the position

Long on Backpack Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.126%+$13 on $10k

Price spread, last 3 days (all we have)+0.171%+$17 · spread now +0.098%, 7d avg +0.023%

Together, before fees+0.296%+$30 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: Polymarket Perps is 0.075% dearer against Backpack than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AVAX_USDC_PERP	11.236	0.0100	pay 0.0013% / 1h	25m 55s	$360K	$570K	15x
Short	Polymarket Perps AVAX-USD	11.247	0.0100	get 0.0013% / 1h	25m 55s	$134K	$459K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.098%Rate

Funding earned: $0
Price spread: +0.098% → +0.023%: $7.53
Slippage, 4 orders: −$12.33
Fee Backpack: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$22.8
Costs to cover: 0.303%
Break-even: never at this rate

Slippage from Backpack: live order book, 58 min ago; Polymarket Perps: live order book, 57 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, 58 min ago	0.44 bp	10.3 bp −$10	35.3 bp −$353	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 57 min ago	2.21 bp	8.3 bp −$8	9.7 bp −$97	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	−0.0570%	1h	11.210	−0.231%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0284%	1h	11.236	0.000%	$5.3M	$9.2M	25x	as long as short
Nado AVAX-PERP	−0.0028%	1h	11.239	+0.027%	$296K	$895K	10x	as long as short
Variational Omni AVAX	−0.0016%	8h	11.259	+0.206%	$3.0M	$2.4M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	11.248	+0.107%	$103K	$112K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0004%	1h	11.246	+0.089%	$16K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.238	+0.018%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.243	+0.062%	$17K	$691K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0099%	8h	11.238	+0.017%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.242	+0.055%	$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	11.250	+0.129%	$299K	$120K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.242	+0.053%	$120.3M	$526.1M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.240	+0.036%	$88.8M	$157.5M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.240	+0.036%	$20.3M	$146.3M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.239	+0.027%	$12.3M	$40.4M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.238	+0.018%	$52.1M	$100.1M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.242	+0.053%	$16.1M	$24.7M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.237	+0.009%	$34.1M	$60.2M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.243	+0.062%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERPlong	+0.0100%	1h	11.236	long leg	$360K	$570K	15x
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.266	+0.265%	$360K	$877K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.270	+0.303%	$181K	$685K	50x	as long as short
Polymarket Perps AVAX-USDshort	+0.0100%	1h	11.247	+0.098%	$134K	$459K	10x
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.252	+0.142%	$202K	$301K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.274	+0.336%	$12K	$731K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.238	+0.018%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.242	+0.049%	$362K	$1.1M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.239	+0.027%	$30.2M	$5.0M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.236	−0.004%	$673K	$2.2M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.236	+0.003%	$258K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0192%	1h	11.255	+0.169%	$909K	$8.3M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.258	+0.196%	$5.0M	$8.0M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.241	+0.045%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0405% / S −0.0249%	1h	11.245	+0.083%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0620%	1h	11.258	+0.196%	$43.6M	$57.2M	10x	as long as short
Kraken Futures PF_AVAXUSD	+0.0629%	1h	11.245	+0.077%	$4.6M	$13.5M	50x	as long as short