Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.004%

Price spread now: Phemex against Polymarket Perps−0.027%7-day average −0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$520.519% of the position

Long on Polymarket Perps Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.007%+$1 on $10k

Price spread, last 3 days (all we have)−0.154%−$15 · spread now −0.027%, 7d avg −0.003%

Together, before fees−0.147%−$15 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: Phemex is 0.024% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps AVAX-USD	11.228	0.0100	pay 0.0013% / 1h	44m 48s	$133K	$459K	10x
Short	Phemex AVAXUSDT	11.225	0.0100	get 0.0100% / 8h	1h 44m	$30.2M	$5.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Polymarket Perps. 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 Polymarket PerpsbpFee PhemexbpOrdersPrice spread, now −0.027%Rate

Funding earned: $0
Price spread: −0.027% → −0.003%: −$2.4
Slippage, 4 orders: −$31.86
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$54.26
Costs to cover: 0.519%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 38 min ago; Phemex: live order book, 4 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 Polymarket Perps live order book, 38 min ago	2.21 bp	6.2 bp −$6	8.4 bp −$84	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	5.81 bp	19.1 bp −$19	31.0 bp −$310	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	−0.0570%	1h	11.160	−0.606%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0106%	1h	11.221	−0.062%	$5.3M	$9.3M	25x	as long as short
Variational Omni AVAX	−0.0033%	8h	11.187	−0.361%	$2.9M	$2.4M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	11.229	+0.008%	$99K	$107K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0004%	1h	11.226	−0.016%	$16K	—	150x	as long as short
Nado AVAX-PERP	+0.0027%	1h	11.229	+0.009%	$296K	$912K	10x	as long as short
Lighter AVAX	+0.0096%	1h	11.223	−0.040%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.228	0.000%	$15K	$696K	50x	as long as short
Gate AVAX_USDT	+0.0097%	8h	11.220	−0.071%	$12.5M	$39.9M	75x	as long as short
Paradex AVAX-USD-PERP	+0.0099%	8h	11.233	+0.046%	$13K	$766	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster AVAXUSDT	+0.0100%	8h	11.219	−0.084%	$2.3M	$1.9M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.232	+0.037%	$298K	$120K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.226	−0.018%	$120.2M	$528.8M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.225	−0.027%	$87.9M	$157.7M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.223	−0.045%	$20.2M	$146.6M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.227	−0.009%	$52.2M	$99.8M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.227	−0.009%	$16.1M	$24.4M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.222	−0.053%	$33.9M	$60.4M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.224	−0.036%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.221	−0.062%	$358K	$578K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.201	−0.240%	$354K	$885K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.206	−0.196%	$180K	$686K	50x	as long as short
Polymarket Perps AVAX-USDlong	+0.0100%	1h	11.228	long leg	$133K	$459K	10x
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.233	+0.045%	$202K	$301K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.255	+0.241%	$12K	$728K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.222	−0.053%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.230	+0.022%	$362K	$1.1M	75x	as long as short
Phemex AVAXUSDTshort	+0.0100%	8h	11.225	−0.027%	$30.2M	$5.0M	50x
Extended AVAX-USD	+0.0104%	1h	11.219	−0.084%	$669K	$2.2M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.223	−0.049%	$258K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0192%	1h	11.240	+0.107%	$906K	$8.4M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.222	−0.053%	$5.0M	$8.0M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.222	−0.052%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0396% / S −0.0236%	1h	11.225	−0.029%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0510%	1h	11.243	+0.134%	$43.5M	$57.9M	10x	as long as short
Kraken Futures PF_AVAXUSD	+0.0630%	1h	11.227	−0.008%	$4.6M	$13.6M	50x	as long as short