Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0080%/8h= +8.8% APRpaid last 24h −0.008%

Price spread now: Phemex against Kraken Futures+0.031%7-day average −0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$490.491% of the position

Long on Kraken Futures Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.065%+$7 on $10k

Price spread, last 4 days (all we have)−0.052%−$5 · spread now +0.031%, 7d avg −0.023%

Together, before fees+0.013%+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Phemex is 0.054% dearer against Kraken Futures than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_AVAXUSD	10.968	0.0020	pay 0.0002% / 1h	42m 54s	$4.2M	$11.3M	50x
Short	Phemex AVAXUSDT	10.971	0.0100	get 0.0100% / 8h	3h 42m	$29.3M	$5.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Kraken Futures. 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 Kraken FuturesbpFee PhemexbpOrdersPrice spread, now +0.031%Rate

Funding earned: $16.88
Price spread: +0.031% → −0.023%: $5.38
Slippage, 4 orders: −$27.13
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$26.86
Costs to cover: 0.491%
Break-even: 18.1 days

Slippage from Kraken Futures: live order book, 1 min ago; Phemex: live order book, 6 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 Kraken Futures live order book, 1 min ago	2.28 bp	12.6 bp −$13	15.3 bp −$153	54.6 bp −$5,457	doesn't fit
Sell Phemex live order book, 6 min ago	3.18 bp	14.1 bp −$14	25.4 bp −$254	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	−0.1421%	1h	10.920	−0.434%	$17K	$151K	12x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.965	−0.026%	$96K	$97K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.966	−0.014%	$5.1M	$7.8M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.965	−0.023%	$12K	—	150x	as long as short
Nado AVAX-PERP	+0.0007%	1h	10.957	−0.092%	$284K	$319K	10x	as long as short
Kraken Futures PF_AVAXUSDlong	+0.0020%	1h	10.968	long leg	$4.2M	$11.3M	50x
Lighter AVAX	+0.0096%	1h	10.966	−0.013%	$1.2M	$2.7M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.964	−0.033%	$15K	$456K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	10.961	−0.058%	$12K	$212	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.965	−0.025%	$2.2M	$1.1M	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	10.967	−0.009%	$276K	$131K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.958	−0.084%	$115.5M	$428.6M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.948	−0.178%	$83.5M	$140.9M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.953	−0.133%	$20.1M	$113.3M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	10.956	−0.106%	$12.1M	$32.3M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.958	−0.087%	$45.6M	$78.1M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.963	−0.042%	$15.4M	$21.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.946	−0.197%	$33.0M	$47.7M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.955	−0.115%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.975	+0.068%	$369K	$548K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	10.991	+0.210%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.991	+0.216%	$344K	$908K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.990	+0.204%	$177K	$668K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.968	+0.004%	$128K	$345K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.970	+0.022%	$193K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.996	+0.256%	$12K	$721K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.966	−0.014%	$18K	$71K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.963	−0.037%	$365K	$792K	75x	as long as short
Phemex AVAXUSDTshort	+0.0100%	8h	10.971	+0.031%	$29.3M	$5.8M	50x
Extended AVAX-USD	+0.0104%	1h	10.952	−0.142%	$678K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.966	−0.014%	$252K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.963	−0.042%	$4.9M	$5.3M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	10.976	+0.077%	$892K	$5.2M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	10.965	−0.026%	$1K	—	20x	as long as short
Hyperliquid AVAX	+0.0398%	1h	10.965	−0.023%	$42.5M	$41.7M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	10.967	−0.008%	$233K	—	120x	as long as short