Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.022%

Price spread now: SunX against Backpack+0.124%7-day average +0.250% · you sell dearer than you buy

Net, funding: paid 7d − costs−$158as in the Funding arb table

Net, price: spread back to 7d avg − costs−$187as in the Price arb table

costs, in and out, $10k−$1751.747% of the position

Long on Backpack Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.162%+$16 on $10k

Price spread, last 3 days (all we have)+0.077%+$8 · spread now +0.124%, 7d avg +0.250%

Together, before fees+0.240%+$24 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: SunX is 0.126% cheaper against Backpack than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of +0.250%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AVAX_USDC_PERP	11.101	0.0100	pay 0.0013% / 1h	57m 05s	$355K	$500K	15x
Short	SunX AVAX-USDT	11.115	0.0100	get 0.0100% / 8h	5h 57m	$12K	$703K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.124%Rate

Funding earned: $0
Price spread: +0.124% → +0.250%: −$12.61
Slippage, 4 orders: −$156.65
Fee Backpack: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$187.26
Costs to cover: 1.747%
Break-even: never at this rate

Slippage from Backpack: live order book, 7 min ago; SunX: live order book, 45 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, 7 min ago	0.45 bp	8.6 bp −$9	41.4 bp −$414	doesn't fit	doesn't fit
Sell SunX live order book, 45 min ago	41.89 bp	101.4 bp −$101	doesn't fit	doesn't fit	doesn't fit

AVAX on 35 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	−0.1374%	1h	11.070	−0.279%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0201%	1h	11.086	−0.135%	$5.2M	$8.0M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.112	+0.096%	$102K	$87K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.089	−0.104%	$13K	—	150x	as long as short
Nado AVAX-PERP	+0.0041%	1h	11.103	+0.018%	$286K	$458K	10x	as long as short
Kraken Futures PF_AVAXUSD	+0.0046%	1h	11.090	−0.099%	$4.3M	$11.6M	50x	as long as short
Lighter AVAX	+0.0096%	1h	11.086	−0.133%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.100	−0.009%	$15K	$567K	50x	as long as short
Gate AVAX_USDT	+0.0099%	8h	11.089	−0.108%	$12.1M	$34.8M	75x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.101	+0.004%	$13K	$434	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster AVAXUSDT	+0.0100%	8h	11.097	−0.037%	$2.3M	$1.2M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.111	+0.094%	$290K	$113K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.109	+0.072%	$118.6M	$441.4M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.111	+0.090%	$88.2M	$139.3M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.108	+0.063%	$20.0M	$120.1M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.101	0.000%	$48.3M	$78.9M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.101	0.000%	$15.5M	$21.9M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.110	+0.081%	$33.3M	$49.3M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.102	+0.009%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERPlong	+0.0100%	1h	11.101	long leg	$355K	$500K	15x
Variational Omni AVAX	+0.0100%	8h	11.156	+0.491%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.158	+0.513%	$353K	$801K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.167	+0.595%	$179K	$679K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.099	−0.018%	$130K	$349K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.095	−0.054%	$195K	$313K	20x	as long as short
SunX AVAX-USDTshort	+0.0100%	8h	11.115	+0.124%	$12K	$703K	20x
SoDEX AVAX-USD	+0.0100%	1h	11.087	−0.126%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.094	−0.063%	$360K	$853K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.087	−0.126%	$29.6M	$5.6M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.104	+0.031%	$671K	$1.6M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.088	−0.117%	$255K	—	3x	as long as short
Hyperliquid AVAX	+0.0230%	1h	11.105	+0.036%	$43.1M	$44.8M	10x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.100	−0.009%	$899K	$5.6M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.091	−0.092%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.091	−0.086%	$236K	—	120x	as long as short