Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.1551%/8h= −169.8% APRpaid last 24h −0.154%

Price spread now: Injective against BingX−0.481%7-day average −0.167% · you buy dearer than you sell

Net, funding: paid 7d − costs−$149as in the Funding arb table

Net, price: spread back to 7d avg − costs−$147as in the Price arb table

costs, in and out, $10k−$1151.155% of the position

Long on BingX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.336%−$34 on $10k

Price spread, last 3 days (all we have)+1.401%+$140 · spread now −0.481%, 7d avg −0.167%

Together, before fees+1.065%+$107 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$47 a day on $10k at the current rate, and Injective is 0.314% cheaper against BingX than usual: you would sell low and buy high (−$31 if the spread goes back to its 7-day average of −0.167%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.336% in total (about -17.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX AVAX-USDC	11.224	0.0100	pay 0.0100% / 8h	23m 20s	—	$6.5M	—
Short	Injective AVAX/USDC PERP	11.170	−0.1451	pay 0.0181% / 1h	23m 20s	$17K	$151K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BingX. 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 BingXbpFee InjectivebpOrdersPrice spread, now −0.481%Rate

Funding earned: −$325.63
Price spread: −0.481% → −0.167%: −$31.44
Slippage, 4 orders: −$105.46
Fee BingX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$472.55
Costs to cover: 1.155%
Break-even: never at this rate

Slippage from BingX: live order book, 13 min ago; Injective: live order book, 55 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 BingX live order book, 13 min ago	0.89 bp	8.1 bp −$8	20.7 bp −$207	73.6 bp −$7,361	468.4 bp −$234.2K
Sell Injective live order book, 55 min ago	40.02 bp	40.0 bp −$40	doesn't fit	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 PERPshort	−0.1451%	1h	11.170	−0.481%	$17K	$151K	12x
Deribit AVAX_USDC-PERPETUAL	−0.0106%	1h	11.224	0.000%	$5.3M	$8.9M	25x	as long as short
Nado AVAX-PERP	−0.0100%	1h	11.217	−0.062%	$296K	$878K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.226	+0.015%	$103K	$111K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.224	−0.001%	$13K	—	150x	as long as short
Variational Omni AVAX	+0.0084%	8h	11.245	+0.189%	$3.0M	$2.4M	—	as long as short
Lighter AVAX	+0.0096%	1h	11.228	+0.038%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.223	−0.009%	$18K	$671K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.220	−0.035%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.224	0.000%	$2.3M	$1.7M	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	11.225	+0.010%	$298K	$118K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.227	+0.027%	$120.1M	$512.0M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.227	+0.027%	$89.4M	$155.0M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.227	+0.027%	$20.3M	$143.7M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.223	−0.009%	$12.5M	$40.3M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.222	−0.018%	$50.6M	$93.5M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.228	+0.036%	$15.8M	$24.2M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.225	+0.009%	$34.2M	$58.0M	75x	as long as short
BingX AVAX-USDClong	+0.0100%	8h	11.224	long leg	—	$6.5M	—
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.217	−0.062%	$359K	$563K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.250	+0.231%	$352K	$862K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.225	+0.009%	$180K	$687K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.226	+0.018%	$132K	$440K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.233	+0.080%	$204K	$303K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.247	+0.203%	$12K	$734K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.227	+0.027%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.226	+0.016%	$363K	$1.0M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.226	+0.018%	$30.2M	$4.9M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.222	−0.019%	$669K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.224	0.000%	$258K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.227	+0.027%	$5.0M	$7.4M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.221	−0.023%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0270%	1h	11.231	+0.063%	$4.6M	$13.1M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0280%	1h	11.237	+0.116%	$914K	$7.8M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0427% / S −0.0283%	1h	11.227	+0.029%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0806%	1h	11.244	+0.178%	$43.7M	$54.9M	10x	as long as short