AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h +0.043%

Price spread now: Coinbase International against Backpack−0.204%52s7-day average +0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$430.427% of the position

Long on Backpack Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.288%+$29 on $10k

Price spread, last 4 days (all we have)+0.157%+$16 · spread now −0.204%, 7d avg +0.047%

Together, before fees+0.445%+$45 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.250% cheaper against Backpack than usual: you would sell low and buy high (spread −0.204% now, against its 7-day average of +0.047%). If the spread goes back, that is −$25 on $10k: about 8.3 days of funding at the current rate (+$3 a day). The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AVAX_USDC_PERP	10.787	0.0100	pay 0.0013% / 1h	52m 21s	$439K	$531K	15x
Short	Coinbase International AVAX-PERP-INTX	10.765	0.0200	get 0.0025% / 1h	52m 21s	$845K	$5.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Backpack. 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 BackpackbpFee Coinbase InternationalbpOrdersPrice spread, now −0.204%Rate

Funding earned: $21
Price spread: −0.204% → +0.047%: −$25.05
Slippage, 4 orders: −$22.66
Fee Backpack: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$46.71
Costs to cover: 0.427%
Break-even: 22.6 days

Slippage from Backpack: live order book, 46 min ago; Coinbase International: 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 Backpack live order book, 46 min ago	0.47 bp	11.8 bp −$12	44.4 bp −$444	doesn't fit	doesn't fit
Sell Coinbase International live order book, 2 min ago	1.39 bp	11.6 bp −$12	17.2 bp −$172	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
Nado AVAX-PERP	−0.0336%	1h	10.764	−0.213%	$291K	$322K	10x	as long as short
Kraken Futures PF_AVAXUSD	−0.0266%	1h	10.755	−0.300%	$3.8M	$11.6M	50x	as long as short
Gate AVAX_USDT	−0.0148%	8h	10.767	−0.185%	$13.4M	$28.5M	75x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0122%	1h	10.752	−0.324%	$4.9M	$6.8M	25x	as long as short
Phemex AVAXUSDT	−0.0083%	8h	10.762	−0.232%	$28.7M	$5.7M	50x	as long as short
Variational Omni AVAX	−0.0075%	8h	10.715	−0.670%	$2.9M	$2.1M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.769	−0.165%	$92K	$111K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.761	−0.241%	$12K	—	150x	as long as short
SoDEX AVAX-USD	+0.0026%	1h	10.753	−0.315%	$18K	$68K	10x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	−0.250%	$17K	$151K	12x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT AVAX_USDT_Perp	+0.0081%	8h	10.709	−0.724%	$342K	$1.2M	10x	as long as short
Paradex AVAX-USD-PERP	+0.0093%	8h	10.761	−0.238%	$12K	$212	20x	as long as short
Lighter AVAX	+0.0096%	1h	10.755	−0.298%	$1.2M	$2.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.766	−0.195%	$25K	$464K	50x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.775	−0.111%	$37.0M	$40.0M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.764	−0.211%	$2.2M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.772	−0.143%	$271K	$128K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.752	−0.321%	$113.8M	$399.4M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.754	−0.306%	$84.1M	$139.6M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.754	−0.306%	$19.0M	$107.0M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.759	−0.260%	$52.8M	$78.8M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.759	−0.260%	$13.9M	$21.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.752	−0.324%	$32.7M	$45.8M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.759	−0.260%	—	$53.2M	—	as long as short
Backpack AVAX_USDC_PERPlong	+0.0100%	1h	10.787	long leg	$439K	$531K	15x
ApeX Omni AVAXUSDT	+0.0100%	1h	10.713	−0.686%	$173K	$663K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.770	−0.158%	$135K	$287K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.763	−0.222%	$233K	$254K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.789	+0.021%	$12K	$769K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.742	−0.415%	$331K	$874K	75x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.749	−0.349%	$601K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.750	−0.339%	$247K	—	3x	as long as short
Coinbase International AVAX-PERP-INTXshort	+0.0200%	1h	10.765	−0.204%	$845K	$5.1M	50x
BloFin AVAX-USDT	+0.0220%	8h	10.781	−0.056%	$4.7M	$5.5M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.759	−0.256%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0443% / S −0.0294%	1h	10.787	0.000%	$228K	—	120x	as long as short