Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.007%

Price spread now: Backpack against MEXC+0.027%7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$220.220% of the position

Long on MEXC Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.089%−$9 on $10k

Price spread, last 4 days (all we have)−0.064%−$6 · spread now +0.027%, 7d avg +0.013%

Together, before fees−0.153%−$15 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC AVAX_USDT	10.998	0.0100	pay 0.0100% / 8h	4h 18m	$46.0M	$78.3M	200x
Short	Backpack AVAX_USDC_PERP	11.001	0.0100	get 0.0013% / 1h	18m 52s	$332K	$522K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against MEXC. 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 MEXCbpFee BackpackbpOrdersPrice spread, now +0.027%Rate

Funding earned: $0
Price spread: +0.027% → +0.013%: $1.46
Slippage, 4 orders: −$12.02
Fee MEXC: 0 bp × 2 orders: $0
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$20.56
Costs to cover: 0.220%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; Backpack: live order book, 40 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 MEXC live order book, 5 min ago	0.45 bp	1.1 bp −$1	3.9 bp −$39	15.3 bp −$1,525	72.8 bp −$36.4K
Sell Backpack live order book, 40 min ago	1.80 bp	9.8 bp −$10	52.2 bp −$522	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	−0.1423%	1h	10.990	−0.073%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0113%	1h	11.012	+0.127%	$5.1M	$7.9M	25x	as long as short
Nado AVAX-PERP	−0.0020%	1h	11.019	+0.191%	$286K	$370K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.020	+0.200%	$96K	$97K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.016	+0.165%	$12K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.009	+0.100%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.020	+0.200%	$15K	$550K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.018	+0.182%	$12K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.011	+0.121%	$2.2M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.022	+0.218%	$287K	$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	10.994	−0.034%	$116.7M	$428.8M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.991	−0.064%	$87.2M	$137.7M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.992	−0.055%	$20.2M	$114.5M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.007	+0.082%	$12.1M	$34.3M	75x	as long as short
MEXC AVAX_USDTlong	+0.0100%	8h	10.998	long leg	$46.0M	$78.3M	200x
KuCoin AVAXUSDTM	+0.0100%	8h	10.996	−0.018%	$15.4M	$21.7M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.993	−0.045%	$33.0M	$48.0M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.997	−0.009%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERPshort	+0.0100%	1h	11.001	+0.027%	$332K	$522K	15x
Variational Omni AVAX	+0.0100%	8h	11.013	+0.141%	$2.8M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.049	+0.464%	$350K	$863K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.021	+0.209%	$177K	$670K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.016	+0.164%	$129K	$335K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.019	+0.191%	$194K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.047	+0.447%	$12K	$709K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.014	+0.145%	$18K	$71K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.005	+0.061%	$360K	$814K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.012	+0.127%	$29.4M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.987	−0.104%	$678K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.011	+0.114%	$253K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0214%	1h	11.009	+0.100%	$4.3M	$11.2M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.012	+0.127%	$5.1M	$5.3M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.017	+0.173%	$882K	$5.2M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.011	+0.119%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.015	+0.153%	$234K	—	120x	as long as short
Hyperliquid AVAX	+0.0542%	1h	11.023	+0.227%	$42.8M	$42.0M	10x	as long as short