Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0531%/8h= +58.2% APRpaid last 24h −0.017%

Price spread now: Kraken Futures against BingX−0.152%7-day average +0.081% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$360.356% of the position

Long on BingX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.086%−$9 on $10k

Price spread, last 3 days (all we have)−0.259%−$26 · spread now −0.152%, 7d avg +0.081%

Together, before fees−0.345%−$34 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.233% cheaper against BingX than usual: you would sell low and buy high (spread −0.152% now, against its 7-day average of +0.081%). If the spread goes back, that is −$23 on $10k: about 35 hours of funding at the current rate (+$16 a day). Mind the row above: over the last 7 days funding on this pair cost −0.086%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.086% in total (about -4.5% 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-USDT	11.222	0.0100	pay 0.0100% / 8h	1h 45m	—	$89.9M	—
Short	Kraken Futures PF_AVAXUSD	11.205	0.0631	get 0.0079% / 1h	45m 43s	$4.6M	$13.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.152%Rate

Funding earned: $111.56
Price spread: −0.152% → +0.081%: −$23.33
Slippage, 4 orders: −$15.56
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $52.66
Costs to cover: 0.356%
Break-even: 3.7 days

Slippage from BingX: live order book, 8 min ago; Kraken Futures: 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 BingX live order book, 8 min ago	0.89 bp	5.9 bp −$6	7.6 bp −$76	10.5 bp −$1,049	24.8 bp −$12.4K
Sell Kraken Futures live order book, 3 min ago	2.23 bp	11.6 bp −$12	19.6 bp −$196	53.5 bp −$5,347	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	11.140	−0.731%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0107%	1h	11.197	−0.223%	$5.3M	$9.3M	25x	as long as short
Variational Omni AVAX	−0.0043%	8h	11.261	+0.343%	$3.0M	$2.3M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	11.229	+0.061%	$99K	$107K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0004%	1h	11.195	−0.239%	$16K	—	150x	as long as short
Nado AVAX-PERP	+0.0036%	1h	11.189	−0.294%	$295K	$912K	10x	as long as short
Gate AVAX_USDT	+0.0095%	8h	11.215	−0.062%	$12.5M	$39.9M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.229	+0.059%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.188	−0.303%	$14K	$696K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0099%	8h	11.233	+0.100%	$13K	$766	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster AVAXUSDT	+0.0100%	8h	11.214	−0.075%	$2.3M	$1.9M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.232	+0.091%	$298K	$120K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.232	+0.091%	$120.2M	$528.9M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.233	+0.098%	$87.9M	$157.8M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.231	+0.080%	$20.2M	$146.7M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.235	+0.116%	$52.4M	$99.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.234	+0.107%	$16.1M	$24.4M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.226	+0.036%	$34.0M	$60.4M	75x	as long as short
BingX AVAX-USDTlong	+0.0100%	8h	11.222	long leg	—	$89.9M	—
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.209	−0.116%	$357K	$579K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.257	+0.312%	$356K	$885K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.217	−0.045%	$180K	$686K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.194	−0.250%	$133K	$459K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.205	−0.151%	$201K	$301K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.227	+0.044%	$12K	$727K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.199	−0.205%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.197	−0.218%	$361K	$1.1M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.201	−0.187%	$30.1M	$5.0M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.215	−0.066%	$669K	$2.2M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.195	−0.240%	$257K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0192%	1h	11.207	−0.134%	$903K	$8.3M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.193	−0.258%	$5.0M	$8.0M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.191	−0.274%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0396% / S −0.0236%	1h	11.196	−0.227%	$236K	—	120x	as long as short
Hyperliquid AVAX	+0.0511%	1h	11.238	+0.143%	$43.5M	$57.9M	10x	as long as short
Kraken Futures PF_AVAXUSDshort	+0.0631%	1h	11.205	−0.152%	$4.6M	$13.6M	50x