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: Injective against MEXC+0.149%7-day average −0.200% · you sell dearer than you buy

Net, funding: paid 7d − costs−$141as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

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

Long on MEXC Short on Injective

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)+0.843%+$84 · spread now +0.149%, 7d avg −0.200%

Together, before fees+0.397%+$40 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 0.349% dearer against MEXC than usual: you sell high and buy low (spread +0.149% now, against its 7-day average of −0.200%): +$35 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 17 days. At the pace of the last 7 days (−0.446% in total) that is about 5.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC AVAX_USDT	10.744	0.0100	pay 0.0100% / 8h	1h 19m	$45.5M	$80.9M	200x
Short	Injective AVAX/USDC PERP	10.760	0.0033	get 0.0004% / 1h	19m 07s	$17K	$152K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.149%Rate

Funding earned: −$14
Price spread: +0.149% → −0.200%: $34.86
Slippage, 4 orders: −$95.87
Fee MEXC: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$75.03
Costs to cover: 0.959%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; Injective: live order book, 25 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	0.47 bp	0.5 bp $0	1.4 bp −$14	25.8 bp −$2,578	99.7 bp −$49.8K
Sell Injective live order book, 25 min ago	32.76 bp	32.8 bp −$33	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	−0.0197%	1h	10.742	−0.014%	$282K	$342K	10x	as long as short
Variational Omni AVAX	−0.0056%	8h	10.732	−0.115%	$2.8M	$2.1M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.741	−0.032%	$92K	$119K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.735	−0.084%	$4.8M	$7.1M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.745	+0.014%	$12K	—	150x	as long as short
Gate AVAX_USDT	+0.0030%	8h	10.741	−0.028%	$12.9M	$32.3M	75x	as long as short
Injective AVAX/USDC PERPshort	+0.0033%	1h	10.760	+0.149%	$17K	$152K	12x
SoDEX AVAX-USD	+0.0085%	1h	10.733	−0.102%	$18K	$72K	10x	as long as short
Paradex AVAX-USD-PERP	+0.0087%	8h	10.743	−0.012%	$12K	$212	20x	as long as short
Bybit AVAXUSDT	+0.0088%	8h	10.741	−0.028%	$81.8M	$146.0M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AVAX	+0.0096%	1h	10.733	−0.098%	$1.2M	$2.5M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.737	−0.065%	$25K	$443K	50x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.753	+0.084%	$37.4M	$43.8M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.741	−0.028%	$2.2M	$1.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.737	−0.063%	$270K	$129K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.744	−0.003%	$114.3M	$424.1M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.739	−0.047%	$18.9M	$112.8M	50x	as long as short
MEXC AVAX_USDTlong	+0.0100%	8h	10.744	long leg	$45.5M	$80.9M	200x
KuCoin AVAXUSDTM	+0.0100%	8h	10.739	−0.047%	$13.7M	$22.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.743	−0.009%	$32.5M	$48.7M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.743	−0.009%	—	$54.6M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.744	0.000%	$438K	$564K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.744	+0.001%	$342K	$1.1M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.740	−0.037%	$173K	$662K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.748	+0.037%	$135K	$353K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.741	−0.028%	$231K	$271K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.762	+0.170%	$11K	$766K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.739	−0.047%	$327K	$904K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.738	−0.056%	$28.6M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.729	−0.137%	$610K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.731	−0.125%	$246K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0113%	1h	10.734	−0.096%	$3.9M	$12.0M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0200%	1h	10.750	+0.056%	$857K	$5.1M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.728	−0.149%	$4.6M	$5.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.736	−0.071%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0443% / S −0.0294%	1h	10.741	−0.032%	$227K	—	120x	as long as short