Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0187%/8h= +20.4% APRpaid last 24h +0.302%

Price spread now: BloFin against Injective+0.158%7-day average +0.227% · you sell dearer than you buy

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$108as in the Price arb table

costs, in and out, $10k−$1011.011% of the position

Long on Injective Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.678%+$68 on $10k

Price spread, last 4 days (all we have)−1.144%−$114 · spread now +0.158%, 7d avg +0.227%

Together, before fees−0.465%−$47 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.069% cheaper against Injective than usual: you would sell low and buy high (spread +0.158% now, against its 7-day average of +0.227%). If the spread goes back, that is −$7 on $10k: about 29 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective AVAX/USDC PERP	10.760	0.0033	pay 0.0004% / 1h	40m 38s	$17K	$151K	12x
Short	BloFin AVAX-USDT	10.777	0.0220	get 0.0220% / 8h	7h 40m	$4.7M	$5.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Injective. 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 InjectivebpFee BloFinbpOrdersPrice spread, now +0.158%Rate

Funding earned: $39.2
Price spread: +0.158% → +0.227%: −$6.87
Slippage, 4 orders: −$89.08
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$68.76
Costs to cover: 1.011%
Break-even: 19.3 days

Slippage from Injective: live order book, 58 min ago; BloFin: 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 Injective live order book, 58 min ago	28.12 bp	56.1 bp −$56	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	0.93 bp	9.1 bp −$9	13.7 bp −$137	29.9 bp −$2,994	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
Kraken Futures PF_AVAXUSD	−0.0265%	1h	10.779	+0.173%	$3.7M	$11.6M	50x	as long as short
Nado AVAX-PERP	−0.0253%	1h	10.776	+0.146%	$281K	$326K	10x	as long as short
Phemex AVAXUSDT	−0.0104%	8h	10.779	+0.177%	$28.8M	$5.7M	50x	as long as short
Variational Omni AVAX	−0.0080%	8h	10.771	+0.100%	$3.0M	$2.2M	—	as long as short
SoDEX AVAX-USD	−0.0064%	1h	10.774	+0.130%	$18K	$68K	10x	as long as short
Gate AVAX_USDT	−0.0033%	8h	10.783	+0.214%	$13.6M	$28.7M	75x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.787	+0.252%	$92K	$111K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.777	+0.158%	$4.8M	$6.8M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.778	+0.171%	$12K	—	150x	as long as short
Injective AVAX/USDC PERPlong	+0.0033%	1h	10.760	long leg	$17K	$151K	12x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex AVAX-USD-PERP	+0.0091%	8h	10.774	+0.131%	$12K	$212	20x	as long as short
Lighter AVAX	+0.0096%	1h	10.786	+0.239%	$1.2M	$2.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.772	+0.112%	$22K	$468K	50x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.800	+0.372%	$35.9M	$41.1M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.782	+0.201%	$2.4M	$1.4M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.786	+0.242%	$271K	$128K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.781	+0.198%	$113.8M	$398.6M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.780	+0.186%	$84.3M	$138.4M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.784	+0.223%	$19.0M	$107.1M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.782	+0.204%	$53.3M	$79.2M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.783	+0.214%	$13.9M	$21.4M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.787	+0.251%	$33.0M	$45.7M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.784	+0.223%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.781	+0.195%	$439K	$533K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.781	+0.200%	$344K	$1.2M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.807	+0.437%	$174K	$661K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.779	+0.177%	$135K	$287K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.781	+0.195%	$233K	$244K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.803	+0.403%	$11K	$773K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.777	+0.162%	$334K	$871K	75x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.780	+0.184%	$616K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.770	+0.088%	$247K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0200%	1h	10.785	+0.232%	$857K	$5.2M	50x	as long as short
BloFin AVAX-USDTshort	+0.0220%	8h	10.777	+0.158%	$4.7M	$5.5M	100x
Reya AVAXRUSDPERP	+0.0245%	1h	10.770	+0.096%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0443% / S −0.0294%	1h	10.797	+0.340%	$228K	—	120x	as long as short