Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.025%

Price spread now: Lighter against Bybit+0.135%7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$220.218% of the position

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.076%−$8 on $10k

Price spread, last 4 days (all we have)−0.105%−$10 · spread now +0.135%, 7d avg +0.015%

Together, before fees−0.181%+ Points / potential airdropLighter: Season 3 · farm board−$18 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: Lighter is 0.120% dearer against Bybit than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of +0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AVAXUSDT	11.136	0.0100	pay 0.0100% / 8h	7h 50m	$88.7M	$152.7M	75x
Short	Lighter AVAX	11.151	0.0096	get 0.0012% / 1h	50m 53s	$1.2M	$3.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.135%Rate

Funding earned: −$0.84
Price spread: +0.135% → +0.015%: $12.02
Slippage, 4 orders: −$10.82
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: −$10.64
Costs to cover: 0.218%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; Lighter: 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, 3 min ago	0.45 bp	8.6 bp −$9	13.8 bp −$138	36.1 bp −$3,612	doesn't fit
Sell Lighter live order book, 6 min ago	2.19 bp	2.4 bp −$2	8.7 bp −$87	73.2 bp −$7,321	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	−0.1363%	1h	11.110	−0.233%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0109%	1h	11.149	+0.117%	$5.3M	$8.8M	25x	as long as short
Nado AVAX-PERP	−0.0004%	1h	11.155	+0.171%	$293K	$860K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.161	+0.221%	$103K	$105K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.155	+0.169%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0034%	8h	11.138	+0.018%	$12.2M	$37.9M	75x	as long as short
Lighter AVAXshort	+0.0096%	1h	11.151	+0.135%	$1.2M	$3.1M	10x
Popdex AVAXUSDT	+0.0096%	1h	11.155	+0.171%	$18K	$647K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.162	+0.235%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.145	+0.082%	$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	11.165	+0.265%	$296K	$118K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.138	+0.017%	$119.0M	$503.5M	75x	as long as short
Bybit AVAXUSDTlong	+0.0100%	8h	11.136	long leg	$88.7M	$152.7M	75x
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.135	−0.009%	$20.1M	$138.9M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.138	+0.018%	$48.8M	$88.0M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.143	+0.063%	$15.6M	$24.0M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.136	0.000%	$33.8M	$56.8M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.137	+0.009%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.142	+0.054%	$356K	$565K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.152	+0.142%	$3.0M	$2.3M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.192	+0.504%	$361K	$863K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.196	+0.539%	$180K	$689K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.156	+0.180%	$131K	$440K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.161	+0.224%	$198K	$303K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.185	+0.438%	$12K	$734K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.150	+0.126%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.158	+0.194%	$360K	$980K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.152	+0.144%	$30.0M	$4.9M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.135	−0.008%	$666K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.153	+0.157%	$256K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0216%	1h	11.154	+0.159%	$4.5M	$12.9M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.148	+0.108%	$5.0M	$6.7M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.151	+0.138%	$1K	—	20x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0304%	1h	11.176	+0.359%	$904K	$7.3M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0260%	1h	11.155	+0.166%	$249K	—	120x	as long as short
Hyperliquid AVAX	+0.0643%	1h	11.156	+0.180%	$43.5M	$53.6M	10x	as long as short