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 +0.026%

Price spread now: Phemex against Bybit−0.027%7-day average +0.062% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$450.450% of the position

Long on Bybit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.067%+$7 on $10k

Price spread, last 4 days (all we have)−0.173%−$17 · spread now −0.027%, 7d avg +0.062%

Together, before fees−0.106%−$11 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 0.089% cheaper against Bybit than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.062%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AVAXUSDT	11.176	0.0100	pay 0.0100% / 8h	4h 40m	$88.8M	$137.6M	75x
Short	Phemex AVAXUSDT	11.173	0.0100	get 0.0100% / 8h	4h 40m	$29.8M	$5.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.027%Rate

Funding earned: $0
Price spread: −0.027% → +0.062%: −$8.9
Slippage, 4 orders: −$21.97
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$53.87
Costs to cover: 0.450%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Phemex: live order book, 4 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, 4 min ago	0.45 bp	7.6 bp −$8	13.8 bp −$138	41.9 bp −$4,189	doesn't fit
Sell Phemex live order book, 4 min ago	2.69 bp	13.4 bp −$13	23.6 bp −$236	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	11.080	−0.859%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0038%	1h	11.179	+0.027%	$288K	$373K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.173	−0.023%	$98K	$97K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	11.178	+0.018%	$5.2M	$7.9M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.176	0.000%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.175	−0.005%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.180	+0.036%	$16K	$579K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.175	−0.009%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.181	+0.042%	$2.3M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.182	+0.049%	$292K	$114K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AVAXUSDT	+0.0100%	8h	11.169	−0.063%	$118.5M	$427.2M	75x	as long as short
Bybit AVAXUSDTlong	+0.0100%	8h	11.176	long leg	$88.8M	$137.6M	75x
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.172	−0.036%	$20.4M	$116.2M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.174	−0.018%	$12.2M	$34.1M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.174	−0.018%	$48.2M	$77.6M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.182	+0.054%	$15.8M	$21.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.174	−0.018%	$33.5M	$48.1M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.175	−0.009%	—	$79.2M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.177	+0.009%	$338K	$520K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.161	−0.130%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.150	−0.232%	$356K	$835K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.153	−0.206%	$179K	$674K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.186	+0.089%	$131K	$337K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.186	+0.089%	$196K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.210	+0.302%	$12K	$704K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.176	0.000%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.178	+0.022%	$368K	$835K	75x	as long as short
Phemex AVAXUSDTshort	+0.0100%	8h	11.173	−0.027%	$29.8M	$5.8M	50x
Extended AVAX-USD	+0.0104%	1h	11.175	−0.008%	$684K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.178	+0.018%	$257K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0211%	1h	11.182	+0.051%	$4.3M	$11.2M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.167	−0.081%	$5.0M	$5.4M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.184	+0.072%	$894K	$5.3M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.179	+0.023%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.176	0.000%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0614%	1h	11.188	+0.107%	$43.4M	$42.5M	10x	as long as short