Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.003%

Price spread now: Lighter against SunX−0.125%7-day average −0.295% · you buy dearer than you sell

Net, funding: paid 7d − costs−$181as in the Funding arb table

Net, price: spread back to 7d avg − costs−$147as in the Price arb table

costs, in and out, $10k−$1641.642% of the position

Long on SunX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.168%−$17 on $10k

Price spread, last 4 days (all we have)−0.087%−$9 · spread now −0.125%, 7d avg −0.295%

Together, before fees−0.255%+ Points / potential airdropLighter: Season 3 · farm board−$25 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: Lighter is 0.170% dearer against SunX than usual: you sell high and buy low, +$17 on $10k if it goes back to its 7-day average of −0.295%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX AVAX-USDT	10.715	0.0100	pay 0.0100% / 8h	1h 45m	$12K	$764K	20x
Short	Lighter AVAX	10.701	0.0096	get 0.0012% / 1h	45m 10s	$1.2M	$2.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.125%Rate

Funding earned: −$0.84
Price spread: −0.125% → −0.295%: $17.01
Slippage, 4 orders: −$156.19
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$148.02
Costs to cover: 1.642%
Break-even: never at this rate

Slippage from SunX: live order book, 17 min ago; Lighter: live order book, 2 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, 17 min ago	41.92 bp	55.3 bp −$55	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 2 min ago	2.86 bp	3.7 bp −$4	13.1 bp −$131	78.6 bp −$7,861	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	−0.0191%	1h	10.695	−0.188%	$286K	$338K	10x	as long as short
Variational Omni AVAX	−0.0039%	8h	10.678	−0.348%	$2.8M	$2.1M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.685	−0.280%	$89K	$117K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.708	−0.064%	$4.8M	$7.2M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.706	−0.081%	$12K	—	150x	as long as short
Gate AVAX_USDT	+0.0030%	8h	10.700	−0.139%	$12.7M	$32.1M	75x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	+0.421%	$17K	$152K	12x	as long as short
SoDEX AVAX-USD	+0.0070%	1h	10.701	−0.130%	$18K	$72K	10x	as long as short
Paradex AVAX-USD-PERP	+0.0091%	8h	10.683	−0.296%	$12K	$212	20x	as long as short
Bybit AVAXUSDT	+0.0094%	8h	10.694	−0.195%	$81.6M	$147.3M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AVAXshort	+0.0096%	1h	10.701	−0.125%	$1.2M	$2.5M	10x
Popdex AVAXUSDT	+0.0096%	1h	10.685	−0.279%	$23K	$427K	50x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.708	−0.064%	$37.4M	$44.0M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.695	−0.183%	$2.2M	$1.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.683	−0.298%	$268K	$132K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.699	−0.145%	$113.8M	$427.4M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.691	−0.223%	$18.7M	$112.9M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.703	−0.111%	$44.6M	$80.4M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.705	−0.092%	$13.6M	$22.9M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.697	−0.167%	$32.4M	$49.0M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.699	−0.148%	—	$54.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.705	−0.092%	$427K	$561K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.692	−0.214%	$342K	$1.1M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.692	−0.214%	$172K	$664K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.704	−0.102%	$136K	$354K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.711	−0.036%	$230K	$351K	20x	as long as short
SunX AVAX-USDTlong	+0.0100%	8h	10.715	long leg	$12K	$764K	20x
HTX AVAX-USDT	+0.0100%	8h	10.685	−0.281%	$342K	$873K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.701	−0.130%	$28.6M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.700	−0.143%	$609K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.703	−0.113%	$246K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0113%	1h	10.709	−0.054%	$4.2M	$11.3M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0200%	1h	10.706	−0.083%	$935K	$5.1M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.705	−0.092%	$4.7M	$5.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.697	−0.168%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0295%	1h	10.707	−0.075%	$226K	—	120x	as long as short