Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0284%/8h= +31.1% APRpaid last 24h −0.004%

Price spread now: SunX against Kraken Futures+0.179%7-day average +0.225% · you sell dearer than you buy

Net, funding: paid 7d − costs−$166as in the Funding arb table

Net, price: spread back to 7d avg − costs−$182as in the Price arb table

costs, in and out, $10k−$1771.770% of the position

Long on Kraken Futures Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.111%+$11 on $10k

Price spread, last 4 days (all we have)+0.071%+$7 · spread now +0.179%, 7d avg +0.225%

Together, before fees+0.182%+$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. SunX is 0.046% cheaper against Kraken Futures than usual: you would sell low and buy high (spread +0.179% now, against its 7-day average of +0.225%). If the spread goes back, that is −$5 on $10k: about 13 hours of funding at the current rate (+$9 a day). At the pace of the last 7 days (+0.111% in total) that is about 2.9 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.111% in total (about 5.8% 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	Kraken Futures PF_AVAXUSD	10.722	−0.0184	get 0.0023% / 1h	9m 45s	$3.8M	$11.6M	50x
Short	SunX AVAX-USDT	10.741	0.0100	get 0.0100% / 8h	9m 45s	$11K	$770K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.179%Rate

Funding earned: $59.65
Price spread: +0.179% → +0.225%: −$4.62
Slippage, 4 orders: −$158.98
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$121.95
Costs to cover: 1.770%
Break-even: 21.3 days

Slippage from Kraken Futures: live order book, 4 min ago; SunX: live order book, 42 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, 4 min ago	2.33 bp	8.5 bp −$8	14.1 bp −$141	44.4 bp −$4,437	doesn't fit
Sell SunX live order book, 42 min ago	41.88 bp	101.6 bp −$102	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
Nado AVAX-PERP	−0.0196%	1h	10.715	−0.067%	$289K	$329K	10x	as long as short
Kraken Futures PF_AVAXUSDlong	−0.0184%	1h	10.722	long leg	$3.8M	$11.6M	50x
Variational Omni AVAX	−0.0076%	8h	10.702	−0.186%	$2.9M	$2.2M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.712	−0.098%	$91K	$111K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.725	+0.027%	$4.8M	$6.9M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.722	−0.004%	$12K	—	150x	as long as short
Gate AVAX_USDT	+0.0010%	8h	10.710	−0.113%	$13.2M	$30.9M	75x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	+0.353%	$17K	$151K	12x	as long as short
Paradex AVAX-USD-PERP	+0.0092%	8h	10.707	−0.142%	$12K	$212	20x	as long as short
Lighter AVAX	+0.0096%	1h	10.719	−0.028%	$1.2M	$2.4M	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	10.714	−0.076%	$25K	$468K	50x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.719	−0.029%	$36.8M	$40.6M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.712	−0.099%	$2.2M	$896K	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.714	−0.076%	$269K	$128K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.711	−0.102%	$113.4M	$405.4M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.709	−0.123%	$81.8M	$139.2M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.711	−0.104%	$18.8M	$107.6M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.711	−0.104%	$52.8M	$80.9M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.714	−0.076%	$13.8M	$21.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.712	−0.095%	$32.6M	$46.4M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.711	−0.104%	—	$53.6M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.720	−0.020%	$437K	$544K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.715	−0.067%	$337K	$1.2M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.720	−0.020%	$173K	$662K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.722	−0.001%	$135K	$297K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.727	+0.045%	$232K	$254K	20x	as long as short
SunX AVAX-USDTshort	+0.0100%	8h	10.741	+0.179%	$11K	$770K	20x
SoDEX AVAX-USD	+0.0100%	1h	10.721	−0.011%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.720	−0.015%	$326K	$858K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.719	−0.029%	$28.6M	$5.7M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.708	−0.133%	$605K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.715	−0.069%	$246K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.703	−0.179%	$4.6M	$5.5M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0224%	1h	10.711	−0.104%	$851K	$4.7M	50x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.719	−0.028%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0443% / S −0.0294%	1h	10.721	−0.011%	$226K	—	120x	as long as short