AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h +0.008%

Price spread now: Backpack against dYdX−0.012%7-day average +0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$309as in the Funding arb table

Net, price: spread back to 7d avg − costs−$315as in the Price arb table

costs, in and out, $10k−$3113.113% of the position

Long on dYdX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.026%+$3 on $10k

Price spread, last 4 days (all we have)−0.043%−$4 · spread now −0.012%, 7d avg +0.021%

Together, before fees−0.017%−$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.033% cheaper against dYdX than usual: you would sell low and buy high (spread −0.012% now, against its 7-day average of +0.021%). If the spread goes back, that is −$3 on $10k: about 26 hours of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.026% in total) that is about 8.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX AVAX-USD	11.369	0	get 0.0000% / 1h	6m 55s	$100K	$115K	10x
Short	Backpack AVAX_USDC_PERP	11.368	0.0100	get 0.0013% / 1h	6m 55s	$340K	$563K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against dYdX. 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 dYdXbpFee BackpackbpOrdersPrice spread, now −0.012%Rate

Funding earned: $21
Price spread: −0.012% → +0.021%: −$3.29
Slippage, 4 orders: −$291.27
Fee dYdX: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$293.56
Costs to cover: 3.113%
Break-even: 104.9 days

Slippage from dYdX: live order book, 17 min ago; Backpack: live order book, 17 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 dYdX live order book, 17 min ago	142.74 bp	147.7 bp −$148	147.7 bp −$1,477	162.2 bp −$16.2K	185.2 bp −$92.6K
Sell Backpack live order book, 17 min ago	0.44 bp	5.4 bp −$5	26.1 bp −$261	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
Variational Omni AVAX	−0.0092%	8h	11.306	−0.555%	$2.9M	$2.1M	—	as long as short
Nado AVAX-PERP	−0.0081%	1h	11.373	+0.037%	$300K	$958K	10x	as long as short
Injective AVAX/USDC PERP	−0.0043%	1h	11.320	−0.434%	$17K	$152K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0014%	1h	11.367	−0.020%	$5.4M	$9.4M	25x	as long as short
dYdX AVAX-USDlong	0.0000%	1h	11.369	long leg	$100K	$115K	10x
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0004%	1h	11.370	+0.002%	$16K	—	150x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0056%	1h	11.339	−0.267%	$995K	$8.4M	50x	as long as short
Gate AVAX_USDT	+0.0067%	8h	11.367	−0.020%	$12.7M	$40.5M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0090%	8h	11.353	−0.143%	$20.4M	$149.8M	50x	as long as short
Phemex AVAXUSDT	+0.0095%	8h	11.366	−0.029%	$30.4M	$4.9M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AVAX	+0.0096%	1h	11.366	−0.032%	$1.3M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.373	+0.032%	$13K	$704K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0098%	8h	11.371	+0.018%	$13K	$766	20x	as long as short
MEXC AVAX_USDT	+0.0099%	8h	11.354	−0.135%	$55.8M	$110.5M	200x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.367	−0.017%	$2.3M	$1.9M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.375	+0.054%	$302K	$121K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.353	−0.148%	$121.8M	$537.0M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.361	−0.073%	$91.1M	$156.1M	75x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.368	−0.012%	$16.5M	$24.4M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.359	−0.091%	$35.0M	$61.1M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.356	−0.117%	—	$90.0M	—	as long as short
Backpack AVAX_USDC_PERPshort	+0.0100%	1h	11.368	−0.012%	$340K	$563K	15x
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.320	−0.435%	$358K	$895K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.325	−0.390%	$183K	$682K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.372	+0.024%	$135K	$484K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.374	+0.041%	$205K	$302K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.399	+0.257%	$12K	$722K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.365	−0.038%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.368	−0.008%	$365K	$1.1M	75x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.356	−0.114%	$676K	$2.2M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.361	−0.075%	$261K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.368	−0.012%	$5.0M	$8.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.366	−0.026%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0253%	1h	11.368	−0.011%	$4.6M	$13.6M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0405% / S −0.0245%	1h	11.369	−0.003%	$245K	—	120x	as long as short
Hyperliquid AVAX	+0.0683%	1h	11.386	+0.147%	$44.3M	$58.5M	10x	as long as short