Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.007%

Price spread now: Backpack against OKX+0.139%7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$350.349% of the position

Long on OKX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.060%−$6 on $10k

Price spread, last 4 days (all we have)−0.126%−$13 · spread now +0.139%, 7d avg +0.045%

Together, before fees−0.186%−$19 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.094% dearer against OKX than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX AVAX-USDT-SWAP	10.812	0.0100	pay 0.0100% / 8h	6h 54m	$19.2M	$105.9M	50x
Short	Backpack AVAX_USDC_PERP	10.827	0.0100	get 0.0013% / 1h	54m 34s	$437K	$527K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against OKX. 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 OKXbpFee BackpackbpOrdersPrice spread, now +0.139%Rate

Funding earned: $0
Price spread: +0.139% → +0.045%: $9.38
Slippage, 4 orders: −$14.95
Fee OKX: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$25.57
Costs to cover: 0.349%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Backpack: live order book, 39 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 OKX live order book, 4 min ago	0.46 bp	7.8 bp −$8	19.0 bp −$190	doesn't fit	doesn't fit
Sell Backpack live order book, 39 min ago	1.86 bp	9.7 bp −$10	39.6 bp −$396	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
Kraken Futures PF_AVAXUSD	−0.0185%	1h	10.841	+0.271%	$3.8M	$11.5M	50x	as long as short
Variational Omni AVAX	−0.0101%	8h	10.862	+0.466%	$3.0M	$2.1M	—	as long as short
SoDEX AVAX-USD	−0.0053%	1h	10.836	+0.222%	$18K	$68K	10x	as long as short
Phemex AVAXUSDT	−0.0039%	8h	10.841	+0.268%	$28.9M	$5.6M	50x	as long as short
Gate AVAX_USDT	−0.0010%	8h	10.809	−0.028%	$14.1M	$28.0M	75x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.811	−0.010%	$92K	$111K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.840	+0.259%	$4.9M	$6.7M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.897	+0.785%	$12K	—	150x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	−0.481%	$17K	$151K	12x	as long as short
Bybit AVAXUSDT	+0.0080%	8h	10.804	−0.074%	$84.1M	$135.6M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex AVAX-USD-PERP	+0.0093%	8h	10.806	−0.057%	$12K	$62	20x	as long as short
Lighter AVAX	+0.0096%	1h	10.814	+0.015%	$1.2M	$2.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.819	+0.065%	$22K	$457K	50x	as long as short
Nado AVAX-PERP	+0.0100%	1h	10.834	+0.203%	$273K	$310K	10x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.833	+0.194%	$35.9M	$39.5M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.813	+0.007%	$2.2M	$1.4M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.811	−0.011%	$272K	$126K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.816	+0.034%	$114.0M	$387.0M	75x	as long as short
OKX AVAX-USDT-SWAPlong	+0.0100%	8h	10.812	long leg	$19.2M	$105.9M	50x
MEXC AVAX_USDT	+0.0100%	8h	10.810	−0.018%	$53.7M	$72.4M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.809	−0.028%	$14.0M	$19.7M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.816	+0.037%	$32.9M	$44.9M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.817	+0.046%	—	$52.6M	—	as long as short
Backpack AVAX_USDC_PERPshort	+0.0100%	1h	10.827	+0.139%	$437K	$527K	15x
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.881	+0.635%	$346K	$1.3M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.887	+0.694%	$175K	$661K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.834	+0.203%	$136K	$247K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.848	+0.333%	$235K	$221K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.863	+0.471%	$12K	$777K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.832	+0.180%	$322K	$946K	75x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.813	+0.007%	$615K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.837	+0.234%	$249K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0192%	1h	10.848	+0.333%	$854K	$5.2M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.834	+0.203%	$4.7M	$5.3M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.834	+0.201%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0294%	1h	10.840	+0.262%	$229K	—	120x	as long as short