Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Phemex against Bitget+0.199%46s7-day average +0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$510.506% of the position

Long on Bitget Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 4 days (all we have)−0.310%−$31 · spread now +0.199%, 7d avg +0.052%

Together, before fees−0.301%−$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: Phemex is 0.147% dearer against Bitget than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of +0.052%. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget AVAXUSDT	10.578	0.0100	pay 0.0100% / 8h	2h 28m	$31.9M	$49.4M	75x
Short	Phemex AVAXUSDT	10.599	0.0100	get 0.0100% / 8h	2h 28m	$28.3M	$5.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bitget. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BitgetbpFee PhemexbpOrdersPrice spread, now +0.199%Rate

Funding earned: $0
Price spread: +0.199% → +0.052%: $14.68
Slippage, 4 orders: −$26.63
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$35.95
Costs to cover: 0.506%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; Phemex: live order book, 6 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 Bitget live order book, 5 min ago	0.47 bp	9.6 bp −$10	17.9 bp −$179	42.1 bp −$4,214	doesn't fit
Sell Phemex live order book, 6 min ago	5.18 bp	14.3 bp −$14	47.7 bp −$477	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	−0.1423%	1h	10.760	+1.721%	$17K	$152K	12x	as long as short
Kraken Futures PF_AVAXUSD	−0.0281%	1h	10.603	+0.232%	$4.2M	$11.5M	50x	as long as short
Nado AVAX-PERP	−0.0052%	1h	10.578	0.000%	$289K	$338K	10x	as long as short
Variational Omni AVAX	−0.0006%	8h	10.571	−0.067%	$2.8M	$2.1M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.582	+0.037%	$88K	$117K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.601	+0.217%	$4.7M	$7.5M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.604	+0.246%	$12K	—	150x	as long as short
Gate AVAX_USDT	+0.0024%	8h	10.583	+0.047%	$12.2M	$32.6M	75x	as long as short
Polymarket Perps AVAX-USD	+0.0084%	1h	10.579	+0.009%	$132K	$355K	10x	as long as short
Bybit AVAXUSDT	+0.0084%	8h	10.574	−0.038%	$78.1M	$144.8M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex AVAX-USD-PERP	+0.0096%	8h	10.577	−0.010%	$12K	$212	20x	as long as short
Lighter AVAX	+0.0096%	1h	10.575	−0.031%	$1.1M	$2.6M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.582	+0.038%	$19K	$443K	50x	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.591	+0.123%	$369K	$561K	15x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.589	+0.104%	$37.8M	$43.6M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.579	+0.006%	$2.1M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.581	+0.029%	$266K	$130K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.582	+0.038%	$112.6M	$430.6M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.579	+0.009%	$18.6M	$111.6M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.582	+0.038%	$42.6M	$79.9M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.579	+0.009%	$13.2M	$22.8M	75x	as long as short
Bitget AVAXUSDTlong	+0.0100%	8h	10.578	long leg	$31.9M	$49.4M	75x
BingX AVAX-USDC	+0.0100%	8h	10.576	−0.019%	—	$6.5M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.586	+0.076%	$334K	$966K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.612	+0.321%	$171K	$662K	50x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.603	+0.236%	$168K	$339K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.635	+0.535%	$12K	$756K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.596	+0.170%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.601	+0.213%	$344K	$803K	75x	as long as short
Phemex AVAXUSDTshort	+0.0100%	8h	10.599	+0.199%	$28.3M	$5.8M	50x
Extended AVAX-USD	+0.0104%	1h	10.572	−0.061%	$638K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.600	+0.208%	$243K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0216%	1h	10.603	+0.236%	$831K	$4.8M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.591	+0.123%	$4.6M	$5.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.576	−0.015%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0271%	1h	10.605	+0.254%	$232K	—	120x	as long as short