Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0092%/8h= +10.1% APRpaid last 24h +0.013%

Price spread now: Coinbase International against SunX−0.301%7-day average −0.212% · you buy dearer than you sell

Net, funding: paid 7d − costs−$166as in the Funding arb table

Net, price: spread back to 7d avg − costs−$188as in the Price arb table

costs, in and out, $10k−$1791.787% of the position

Long on SunX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.129%+$13 on $10k

Price spread, last 3 days (all we have)+0.093%+$9 · spread now −0.301%, 7d avg −0.212%

Together, before fees+0.222%+$22 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.089% cheaper against SunX than usual: you would sell low and buy high (spread −0.301% now, against its 7-day average of −0.212%). If the spread goes back, that is −$9 on $10k: about 3.2 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX AVAX-USDT	11.269	0.0100	pay 0.0100% / 8h	1h 07m	$12K	$734K	20x
Short	Coinbase International AVAX-PERP-INTX	11.235	0.0192	get 0.0024% / 1h	7m 56s	$910K	$8.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against SunX. 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 SunXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.301%Rate

Funding earned: $19.32
Price spread: −0.301% → −0.212%: −$8.93
Slippage, 4 orders: −$160.73
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$168.35
Costs to cover: 1.787%
Break-even: 68.0 days

Slippage from SunX: live order book, 64 min ago; Coinbase International: live order book, 1 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 SunX live order book, 64 min ago	41.86 bp	55.4 bp −$55	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	4.00 bp	11.8 bp −$12	19.6 bp −$196	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	11.210	−0.523%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0106%	1h	11.228	−0.363%	$5.3M	$9.1M	25x	as long as short
Nado AVAX-PERP	−0.0040%	1h	11.224	−0.394%	$296K	$892K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.240	−0.259%	$103K	$106K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.229	−0.356%	$13K	—	150x	as long as short
Variational Omni AVAX	+0.0019%	8h	11.219	−0.443%	$3.0M	$2.4M	—	as long as short
Lighter AVAX	+0.0096%	1h	11.227	−0.368%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.235	−0.301%	$18K	$686K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0099%	8h	11.236	−0.289%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.229	−0.354%	$2.3M	$1.8M	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	11.242	−0.243%	$299K	$120K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.229	−0.354%	$120.3M	$524.5M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.227	−0.372%	$89.2M	$157.4M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.227	−0.372%	$20.2M	$146.0M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.227	−0.372%	$12.5M	$40.7M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.231	−0.336%	$51.5M	$100.3M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.232	−0.327%	$16.0M	$24.4M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.228	−0.363%	$34.1M	$59.9M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.228	−0.363%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.226	−0.381%	$359K	$568K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.253	−0.141%	$359K	$877K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.256	−0.114%	$181K	$685K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.232	−0.327%	$134K	$459K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.238	−0.274%	$202K	$301K	20x	as long as short
SunX AVAX-USDTlong	+0.0100%	8h	11.269	long leg	$12K	$734K	20x
SoDEX AVAX-USD	+0.0100%	1h	11.229	−0.354%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.229	−0.359%	$363K	$1.1M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.228	−0.363%	$30.2M	$5.0M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.226	−0.379%	$669K	$2.2M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.226	−0.379%	$258K	—	3x	as long as short
Coinbase International AVAX-PERP-INTXshort	+0.0192%	1h	11.235	−0.301%	$910K	$8.2M	50x
BloFin AVAX-USDT	+0.0220%	8h	11.240	−0.256%	$5.0M	$8.0M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.224	−0.403%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0411% / S −0.0259%	1h	11.224	−0.397%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0591%	1h	11.239	−0.265%	$43.4M	$56.6M	10x	as long as short
Kraken Futures PF_AVAXUSD	+0.0630%	1h	11.233	−0.318%	$4.6M	$13.5M	50x	as long as short