Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.151%

Price spread now: Deribit against HTX−0.031%7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$151as in the Funding arb table

Net, price: spread back to 7d avg − costs−$89as in the Price arb table

costs, in and out, $10k−$860.864% of the position

Long on HTX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.646%−$65 on $10k

Price spread, last 3 days (all we have)−0.020%−$2 · spread now −0.031%, 7d avg −0.005%

Together, before fees−0.666%−$67 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Deribit is 0.026% cheaper against HTX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.005%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX AVAX-USDT	11.111	0.0100	pay 0.0100% / 8h	6h 42m	$361K	$939K	75x
Short	Deribit AVAX_USDC-PERPETUAL	11.108	−0.0020	pay 0.0003% / 1h	42m 32s	$5.2M	$8.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against HTX. 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 HTXbpFee DeribitbpOrdersPrice spread, now −0.031%Rate

Funding earned: −$25.2
Price spread: −0.031% → −0.005%: −$2.61
Slippage, 4 orders: −$67.38
Fee HTX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$114.19
Costs to cover: 0.864%
Break-even: never at this rate

Slippage from HTX: live order book, 31 min ago; Deribit: live order book, 2 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 HTX live order book, 31 min ago	11.76 bp	39.5 bp −$40	110.6 bp −$1,106	doesn't fit	doesn't fit
Sell Deribit live order book, 2 min ago	0.45 bp	3.9 bp −$4	23.8 bp −$238	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	11.070	−0.373%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0038%	1h	11.082	−0.261%	$288K	$523K	10x	as long as short
Deribit AVAX_USDC-PERPETUALshort	−0.0020%	1h	11.108	−0.031%	$5.2M	$8.3M	25x
dYdX AVAX-USD	0.0000%	1h	11.086	−0.227%	$102K	$105K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.114	+0.024%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0070%	8h	11.084	−0.247%	$12.1M	$36.5M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.082	−0.265%	$1.2M	$3.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.084	−0.247%	$18K	$595K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.083	−0.257%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.094	−0.161%	$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	11.088	−0.213%	$294K	$107K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.082	−0.265%	$118.2M	$471.1M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.084	−0.247%	$88.3M	$146.1M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.083	−0.256%	$19.8M	$126.6M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.083	−0.256%	$49.0M	$82.3M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.087	−0.220%	$15.4M	$22.9M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.080	−0.283%	$33.3M	$52.4M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.085	−0.238%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.102	−0.085%	$355K	$548K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.094	−0.159%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.085	−0.238%	$352K	$807K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.113	+0.013%	$179K	$682K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.116	+0.040%	$130K	$369K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.115	+0.031%	$195K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.142	+0.273%	$12K	$721K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.108	−0.031%	$18K	$72K	10x	as long as short
HTX AVAX-USDTlong	+0.0100%	8h	11.111	long leg	$361K	$939K	75x
Phemex AVAXUSDT	+0.0100%	8h	11.110	−0.013%	$29.7M	$5.4M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.081	−0.276%	$668K	$2.0M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.111	−0.006%	$255K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.117	+0.049%	$5.0M	$6.0M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.110	−0.010%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.112	+0.001%	$4.3M	$12.2M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0288%	1h	11.126	+0.130%	$910K	$6.1M	50x	as long as short
Hyperliquid AVAX	+0.0420%	1h	11.101	−0.094%	$43.2M	$48.1M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.114	+0.020%	$236K	—	120x	as long as short