Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0188%/8h= −20.6% APRpaid last 24h −0.036%

Price spread now: MEXC against Coinbase International−0.063%51s7-day average −0.058% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as 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−$260.264% of the position

Long on Coinbase International Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.203%−$20 on $10k

Price spread, last 3 days (all we have)+0.119%+$12 · spread now −0.063%, 7d avg −0.058%

Together, before fees−0.084%−$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.058%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate. The two prices were read 51 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	Coinbase International AVAX-PERP-INTX	11.126	0.0288	pay 0.0036% / 1h	16m 22s	$904K	$5.8M	50x
Short	MEXC AVAX_USDT	11.119	0.0100	get 0.0100% / 8h	6h 16m	$48.7M	$82.8M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Coinbase International. 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 Coinbase InternationalbpFee MEXCbpOrdersPrice spread, now −0.063%Rate

Funding earned: −$39.48
Price spread: −0.063% → −0.058%: −$0.44
Slippage, 4 orders: −$16.41
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$66.33
Costs to cover: 0.264%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; MEXC: 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 Coinbase International live order book, 3 min ago	3.60 bp	12.9 bp −$13	21.7 bp −$217	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	0.45 bp	0.4 bp $0	3.5 bp −$35	30.2 bp −$3,020	97.3 bp −$48.6K

AVAX on 35 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	11.040	−0.773%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0110%	1h	11.100	−0.234%	$5.2M	$8.2M	25x	as long as short
Nado AVAX-PERP	−0.0045%	1h	11.112	−0.126%	$286K	$499K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.117	−0.081%	$102K	$96K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.116	−0.086%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0075%	8h	11.116	−0.090%	$12.1M	$36.7M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.113	−0.115%	$1.2M	$3.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.117	−0.081%	$15K	$582K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.109	−0.157%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.110	−0.144%	$2.3M	$1.4M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AVAX	+0.0100%	1h	11.117	−0.080%	$295K	$107K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.117	−0.082%	$118.6M	$455.1M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.114	−0.108%	$88.5M	$142.9M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.116	−0.090%	$20.0M	$122.8M	50x	as long as short
MEXC AVAX_USDTshort	+0.0100%	8h	11.119	−0.063%	$48.7M	$82.8M	200x
KuCoin AVAXUSDTM	+0.0100%	8h	11.124	−0.018%	$15.5M	$22.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.115	−0.099%	$33.4M	$50.6M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.119	−0.063%	—	$83.0M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.103	−0.207%	$355K	$532K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.095	−0.275%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.097	−0.263%	$354K	$798K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.100	−0.234%	$178K	$678K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.122	−0.036%	$131K	$363K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.122	−0.036%	$195K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.132	+0.051%	$12K	$713K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.102	−0.216%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.094	−0.285%	$360K	$854K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.102	−0.216%	$29.6M	$5.6M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.107	−0.172%	$671K	$1.7M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.102	−0.214%	$255K	—	3x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.117	−0.085%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.104	−0.195%	$4.3M	$11.8M	50x	as long as short
Coinbase International AVAX-PERP-INTXlong	+0.0288%	1h	11.126	long leg	$904K	$5.8M	50x
Hyperliquid AVAX	+0.0394%	1h	11.134	+0.072%	$43.2M	$45.6M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.102	−0.219%	$235K	—	120x	as long as short