Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.288%

Price spread now: MEXC against Injective−0.167%7-day average +0.200% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$133as in the Price arb table

costs, in and out, $10k−$960.959% of the position

Long on Injective Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.446%+$45 on $10k

Price spread, last 4 days (all we have)−0.824%−$82 · spread now −0.167%, 7d avg +0.200%

Together, before fees−0.378%−$38 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.367% cheaper against Injective than usual: you would sell low and buy high (spread −0.167% now, against its 7-day average of +0.200%). If the spread goes back, that is −$37 on $10k: about 18 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.446% in total) that is about 5.8 days.

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	22m 53s	$17K	$152K	12x
Short	MEXC AVAX_USDT	10.742	0.0100	get 0.0100% / 8h	1h 22m	$45.6M	$80.9M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.167%Rate

Funding earned: $14
Price spread: −0.167% → +0.200%: −$36.7
Slippage, 4 orders: −$95.87
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee MEXC: 0 bp × 2 orders: $0
Net: −$118.59
Costs to cover: 0.959%
Break-even: 66.3 days

Slippage from Injective: live order book, 21 min ago; MEXC: live order book, 1 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, 21 min ago	32.76 bp	60.7 bp −$61	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	0.47 bp	2.0 bp −$2	3.6 bp −$36	36.5 bp −$3,653	97.3 bp −$48.7K

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
Nado AVAX-PERP	−0.0195%	1h	10.741	−0.172%	$282K	$342K	10x	as long as short
Variational Omni AVAX	−0.0050%	8h	10.738	−0.208%	$2.8M	$2.1M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.759	−0.009%	$92K	$119K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.741	−0.177%	$4.8M	$7.1M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.745	−0.144%	$12K	—	150x	as long as short
Gate AVAX_USDT	+0.0026%	8h	10.740	−0.186%	$12.8M	$32.3M	75x	as long as short
Injective AVAX/USDC PERPlong	+0.0033%	1h	10.760	long leg	$17K	$152K	12x
Bybit AVAXUSDT	+0.0087%	8h	10.744	−0.149%	$81.8M	$146.1M	75x	as long as short
Paradex AVAX-USD-PERP	+0.0088%	8h	10.754	−0.055%	$12K	$212	20x	as long as short
Lighter AVAX	+0.0096%	1h	10.738	−0.207%	$1.2M	$2.5M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex AVAXUSDT	+0.0096%	1h	10.741	−0.177%	$27K	$433K	50x	as long as short
SoDEX AVAX-USD	+0.0096%	1h	10.738	−0.204%	$18K	$72K	10x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.758	−0.019%	$37.4M	$43.8M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.745	−0.141%	$2.2M	$1.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.759	−0.010%	$270K	$129K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.745	−0.139%	$114.4M	$424.3M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.745	−0.139%	$18.9M	$112.8M	50x	as long as short
MEXC AVAX_USDTshort	+0.0100%	8h	10.742	−0.167%	$45.6M	$80.9M	200x
KuCoin AVAXUSDTM	+0.0100%	8h	10.742	−0.167%	$13.6M	$22.9M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.748	−0.112%	$32.5M	$48.7M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.746	−0.130%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.740	−0.186%	$437K	$564K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.727	−0.307%	$341K	$1.1M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.730	−0.279%	$173K	$661K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.743	−0.158%	$136K	$352K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.746	−0.130%	$231K	$306K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.782	+0.204%	$11K	$766K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.738	−0.209%	$338K	$872K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.742	−0.167%	$28.7M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.740	−0.182%	$610K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.738	−0.209%	$247K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0113%	1h	10.747	−0.125%	$4.2M	$11.3M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0200%	1h	10.764	+0.037%	$858K	$5.1M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.735	−0.232%	$4.6M	$5.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.736	−0.225%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0443% / S −0.0294%	1h	10.744	−0.147%	$227K	—	120x	as long as short