Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0080%/8h= −8.8% APRpaid last 24h +0.008%

Price spread now: Kraken Futures against Phemex−0.031%7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$500.503% of the position

Long on Phemex Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.065%−$7 on $10k

Price spread, last 4 days (all we have)+0.052%+$5 · spread now −0.031%, 7d avg +0.023%

Together, before fees−0.013%−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Kraken Futures is 0.054% cheaper against Phemex than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.023%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AVAXUSDT	10.971	0.0100	pay 0.0100% / 8h	3h 43m	$29.3M	$5.8M	50x
Short	Kraken Futures PF_AVAXUSD	10.968	0.0020	get 0.0002% / 1h	43m 12s	$4.2M	$11.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Phemex. 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 PhemexbpFee Kraken FuturesbpOrdersPrice spread, now −0.031%Rate

Funding earned: −$16.88
Price spread: −0.031% → +0.023%: −$5.38
Slippage, 4 orders: −$28.33
Fee Phemex: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$72.6
Costs to cover: 0.503%
Break-even: never at this rate

Slippage from Phemex: live order book, 6 min ago; Kraken Futures: live order book, 6 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 Phemex live order book, 6 min ago	3.18 bp	9.6 bp −$10	23.0 bp −$230	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 6 min ago	2.72 bp	14.8 bp −$15	20.8 bp −$208	65.5 bp −$6,548	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	−0.1421%	1h	10.920	−0.465%	$17K	$151K	12x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.965	−0.057%	$96K	$97K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.966	−0.046%	$5.1M	$7.8M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.965	−0.054%	$12K	—	150x	as long as short
Nado AVAX-PERP	+0.0007%	1h	10.957	−0.123%	$284K	$319K	10x	as long as short
Kraken Futures PF_AVAXUSDshort	+0.0020%	1h	10.968	−0.031%	$4.2M	$11.3M	50x
Lighter AVAX	+0.0096%	1h	10.966	−0.045%	$1.2M	$2.7M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.964	−0.064%	$15K	$456K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	10.961	−0.089%	$12K	$212	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.961	−0.091%	$2.2M	$1.1M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AVAX	+0.0100%	1h	10.967	−0.040%	$276K	$131K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.971	−0.001%	$115.6M	$428.3M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.973	+0.018%	$83.7M	$140.9M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.975	+0.036%	$20.1M	$113.5M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	10.961	−0.091%	$12.1M	$32.2M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.975	+0.036%	$45.7M	$78.1M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.970	−0.009%	$15.4M	$21.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.966	−0.046%	$33.0M	$47.7M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.971	0.000%	—	$74.8M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.975	+0.036%	$369K	$548K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	10.991	+0.178%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.991	+0.184%	$344K	$908K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.990	+0.173%	$177K	$668K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.968	−0.027%	$128K	$345K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.970	−0.009%	$193K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.996	+0.225%	$12K	$721K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.966	−0.046%	$18K	$71K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.963	−0.068%	$365K	$792K	75x	as long as short
Phemex AVAXUSDTlong	+0.0100%	8h	10.971	long leg	$29.3M	$5.8M	50x
Extended AVAX-USD	+0.0104%	1h	10.961	−0.087%	$678K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.966	−0.046%	$252K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.963	−0.073%	$4.9M	$5.3M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	10.976	+0.046%	$892K	$5.2M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	10.965	−0.057%	$1K	—	20x	as long as short
Hyperliquid AVAX	+0.0403%	1h	10.980	+0.082%	$42.6M	$41.7M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	10.967	−0.039%	$233K	—	120x	as long as short