Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0124%/8h= +13.6% APRpaid last 24h +0.017%

Price spread now: BloFin against Lighter−0.179%90s7-day average +0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs+$6as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$270.275% of the position

Long on Lighter Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.333%+$33 on $10k

Price spread, last 4 days (all we have)−0.025%−$2 · spread now −0.179%, 7d avg +0.035%

Together, before fees+0.309%+ Points / potential airdropLighter: Season 3 · farm board+$31 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.214% cheaper against Lighter than usual: you would sell low and buy high (spread −0.179% now, against its 7-day average of +0.035%). If the spread goes back, that is −$21 on $10k: about 5.8 days of funding at the current rate (+$4 a day). The two prices were read 90 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter AVAX	11.011	0.0096	pay 0.0012% / 1h	13m 51s	$1.2M	$2.9M	10x
Short	BloFin AVAX-USDT	10.991	0.0220	get 0.0220% / 8h	4h 13m	$5.0M	$5.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Lighter. 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 LighterbpFee BloFinbpOrdersPrice spread, now −0.179%Rate

Funding earned: $26.04
Price spread: −0.179% → +0.035%: −$21.43
Slippage, 4 orders: −$15.5
Fee Lighter: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$22.88
Costs to cover: 0.275%
Break-even: 13.2 days

Slippage from Lighter: live order book, 3 min ago; BloFin: live order book, 5 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 Lighter live order book, 3 min ago	2.27 bp	10.2 bp −$10	23.7 bp −$237	92.3 bp −$9,230	doesn't fit
Sell BloFin live order book, 5 min ago	0.45 bp	7.6 bp −$8	15.9 bp −$159	45.2 bp −$4,519	73.4 bp −$36.7K

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
Injective AVAX/USDC PERP	−0.1423%	1h	10.990	−0.188%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0023%	1h	10.984	−0.242%	$5.1M	$7.9M	25x	as long as short
Nado AVAX-PERP	−0.0013%	1h	10.978	−0.292%	$286K	$371K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.982	−0.263%	$96K	$97K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.981	−0.269%	$12K	—	150x	as long as short
Lighter AVAXlong	+0.0096%	1h	11.011	long leg	$1.2M	$2.9M	10x
Popdex AVAXUSDT	+0.0096%	1h	10.980	−0.279%	$15K	$550K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	10.979	−0.284%	$12K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.992	−0.172%	$2.2M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.985	−0.237%	$286K	$114K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AVAXUSDT	+0.0100%	8h	11.012	+0.015%	$116.0M	$430.6M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.012	+0.012%	$85.3M	$139.7M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.019	+0.075%	$20.2M	$115.1M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	10.998	−0.115%	$12.1M	$34.5M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.007	−0.034%	$46.3M	$78.6M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.009	−0.015%	$15.5M	$21.7M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.015	+0.039%	$33.0M	$48.0M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.010	−0.006%	—	$78.6M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.988	−0.206%	$330K	$525K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	10.963	−0.437%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.041	+0.273%	$352K	$874K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.040	+0.266%	$178K	$671K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.980	−0.279%	$129K	$345K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.990	−0.188%	$193K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.010	−0.006%	$12K	$715K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.986	−0.224%	$18K	$71K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.986	−0.229%	$366K	$812K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.987	−0.215%	$29.3M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.004	−0.057%	$678K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.979	−0.287%	$252K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0214%	1h	10.986	−0.221%	$4.2M	$11.3M	50x	as long as short
BloFin AVAX-USDTshort	+0.0220%	8h	10.991	−0.179%	$5.0M	$5.4M	100x
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	10.994	−0.152%	$890K	$5.2M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	10.975	−0.326%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	10.981	−0.272%	$233K	—	120x	as long as short
Hyperliquid AVAX	+0.0512%	1h	11.030	+0.175%	$42.8M	$42.1M	10x	as long as short