Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0268%/8h= −29.4% APRpaid last 24h +0.033%

Price spread now: Kraken Futures against Bybit+0.021%7-day average +0.084% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$400.399% of the position

Long on Bybit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.065%−$6 · spread now +0.021%, 7d avg +0.084%

Together, before fees−0.065%−$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Kraken Futures is 0.063% cheaper against Bybit than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.084%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.000% in total (about -0.0% 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	Bybit AVAXUSDT	10.686	0.0084	pay 0.0084% / 8h	58m 25s	$81.5M	$142.9M	75x
Short	Kraken Futures PF_AVAXUSD	10.688	−0.0185	pay 0.0023% / 1h	58m 25s	$3.8M	$12.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bybit. 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 BybitbpFee Kraken FuturesbpOrdersPrice spread, now +0.021%Rate

Funding earned: −$56.32
Price spread: +0.021% → +0.084%: −$6.26
Slippage, 4 orders: −$18.94
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$102.53
Costs to cover: 0.399%
Break-even: never at this rate

Slippage from Bybit: live order book, 6 min ago; Kraken Futures: 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 Bybit live order book, 6 min ago	0.47 bp	7.2 bp −$7	13.5 bp −$135	37.7 bp −$3,765	doesn't fit
Sell Kraken Futures live order book, 6 min ago	0.47 bp	12.7 bp −$13	18.4 bp −$184	52.0 bp −$5,204	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
Nado AVAX-PERP	−0.0232%	1h	10.682	−0.037%	$281K	$335K	10x	as long as short
Kraken Futures PF_AVAXUSDshort	−0.0185%	1h	10.688	+0.021%	$3.8M	$12.0M	50x
Variational Omni AVAX	−0.0067%	8h	10.666	−0.191%	$2.9M	$2.2M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.687	+0.014%	$91K	$111K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.693	+0.066%	$4.8M	$6.9M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.691	+0.049%	$12K	—	150x	as long as short
Gate AVAX_USDT	+0.0012%	8h	10.682	−0.037%	$12.9M	$30.4M	75x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	+0.692%	$17K	$151K	12x	as long as short
Paradex AVAX-USD-PERP	+0.0083%	8h	10.683	−0.032%	$12K	$212	20x	as long as short
Bybit AVAXUSDTlong	+0.0084%	8h	10.686	long leg	$81.5M	$142.9M	75x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AVAX	+0.0096%	1h	10.682	−0.035%	$1.2M	$2.4M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.684	−0.019%	$25K	$472K	50x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.693	+0.066%	$37.1M	$43.6M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.693	+0.063%	$2.2M	$1.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.689	+0.027%	$268K	$129K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.690	+0.037%	$113.0M	$418.4M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.687	+0.009%	$18.8M	$110.8M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.685	−0.009%	$45.8M	$78.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.683	−0.028%	$13.6M	$22.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.689	+0.028%	$32.4M	$48.3M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.688	+0.019%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.689	+0.028%	$436K	$558K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.669	−0.160%	$339K	$1.1M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.675	−0.103%	$172K	$661K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.688	+0.019%	$134K	$347K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.697	+0.103%	$231K	$255K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.714	+0.262%	$11K	$769K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.689	+0.028%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.687	+0.005%	$325K	$879K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.688	+0.019%	$28.5M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.686	−0.005%	$609K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.684	−0.014%	$245K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.684	−0.019%	$4.6M	$5.5M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0224%	1h	10.694	+0.075%	$850K	$5.1M	50x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.681	−0.045%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0443% / S −0.0294%	1h	10.692	+0.052%	$226K	—	120x	as long as short