Funding arb · Price arb /

AVAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.1505%/8h= −164.8% APRpaid last 24h −0.157%

Price spread now: Injective against Gate−0.406%69s7-day average −0.192% · you buy dearer than you sell

Net, funding: paid 7d − costs−$147as 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−$1181.175% of the position

Long on Gate Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.298%−$30 on $10k

Price spread, last 3 days (all we have)+1.198%+$120 · spread now −0.406%, 7d avg −0.192%

Together, before fees+0.901%+$90 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$45 a day on $10k at the current rate, and Injective is 0.213% cheaper against Gate than usual: you would sell low and buy high (−$21 if the spread goes back to its 7-day average of −0.192%). Swap the legs. The two prices were read 69 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.298% in total (about -15.5% 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	Gate AVAX_USDT	11.095	0.0082	pay 0.0082% / 8h	6h 46m	$12.1M	$36.4M	75x
Short	Injective AVAX/USDC PERP	11.050	−0.1423	pay 0.0178% / 1h	46m 10s	$17K	$151K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Gate. 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 GatebpFee InjectivebpOrdersPrice spread, now −0.406%Rate

Funding earned: −$315.99
Price spread: −0.406% → −0.192%: −$21.33
Slippage, 4 orders: −$102.51
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$454.85
Costs to cover: 1.175%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; Injective: live order book, 23 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 Gate live order book, 3 min ago	1.35 bp	14.6 bp −$15	22.0 bp −$220	42.8 bp −$4,280	72.8 bp −$36.4K
Sell Injective live order book, 23 min ago	35.75 bp	35.8 bp −$36	doesn't fit	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 PERPshort	−0.1423%	1h	11.050	−0.406%	$17K	$151K	12x
Deribit AVAX_USDC-PERPETUAL	−0.0110%	1h	11.095	0.000%	$5.2M	$8.3M	25x	as long as short
Nado AVAX-PERP	−0.0026%	1h	11.096	+0.014%	$288K	$525K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.100	+0.048%	$102K	$105K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.093	−0.016%	$13K	—	150x	as long as short
Gate AVAX_USDTlong	+0.0082%	8h	11.095	long leg	$12.1M	$36.4M	75x
Lighter AVAX	+0.0096%	1h	11.096	+0.005%	$1.2M	$3.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.098	+0.027%	$18K	$600K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.095	+0.002%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.100	+0.047%	$2.3M	$1.4M	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	11.099	+0.038%	$295K	$107K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.095	0.000%	$118.1M	$471.3M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.096	+0.009%	$88.3M	$146.1M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.097	+0.018%	$19.8M	$127.1M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.096	+0.009%	$48.5M	$82.0M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.100	+0.045%	$15.5M	$22.9M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.093	−0.018%	$33.4M	$52.5M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.094	−0.009%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.096	+0.009%	$355K	$548K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.094	−0.011%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.127	+0.288%	$353K	$807K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.129	+0.306%	$179K	$682K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.098	+0.027%	$130K	$369K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.101	+0.054%	$195K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.126	+0.278%	$12K	$721K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.095	0.000%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.094	−0.014%	$360K	$939K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.098	+0.027%	$29.6M	$5.4M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.095	−0.003%	$668K	$2.0M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.092	−0.030%	$255K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.117	+0.198%	$5.0M	$6.0M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.094	−0.010%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.099	+0.037%	$4.3M	$12.2M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0288%	1h	11.106	+0.099%	$909K	$6.1M	50x	as long as short
Hyperliquid AVAX	+0.0416%	1h	11.111	+0.144%	$43.3M	$48.0M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.093	−0.020%	$235K	—	120x	as long as short