Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0015%/8h= −1.7% APRpaid last 24h −0.007%

Price spread now: Gate against Backpack+0.255%7-day average −0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$530.530% of the position

Long on Backpack Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.031%+$3 on $10k

Price spread, last 4 days (all we have)−0.227%−$23 · spread now +0.255%, 7d avg −0.021%

Together, before fees−0.196%−$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.276% dearer against Backpack than usual: you sell high and buy low (spread +0.255% now, against its 7-day average of −0.021%): +$28 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 2 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AVAX_USDC_PERP	10.588	0.0034	pay 0.0004% / 1h	19m 22s	$369K	$563K	15x
Short	Gate AVAX_USDT	10.615	0.0019	get 0.0019% / 8h	2h 19m	$12.3M	$32.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.255%Rate

Funding earned: −$3.17
Price spread: +0.255% → −0.021%: $27.62
Slippage, 4 orders: −$28.03
Fee Backpack: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$28.58
Costs to cover: 0.530%
Break-even: never at this rate

Slippage from Backpack: live order book, 29 min ago; Gate: 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 Backpack live order book, 29 min ago	0.47 bp	14.2 bp −$14	49.9 bp −$499	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	1.42 bp	15.5 bp −$16	23.0 bp −$230	36.7 bp −$3,674	63.5 bp −$31.8K

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	−0.1423%	1h	10.760	+1.624%	$17K	$152K	12x	as long as short
Kraken Futures PF_AVAXUSD	−0.0281%	1h	10.621	+0.316%	$4.2M	$11.5M	50x	as long as short
Nado AVAX-PERP	−0.0054%	1h	10.617	+0.269%	$285K	$342K	10x	as long as short
Variational Omni AVAX	−0.0027%	8h	10.535	−0.504%	$2.7M	$2.2M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.599	+0.105%	$88K	$117K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.616	+0.264%	$4.7M	$7.5M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.617	+0.274%	$12K	—	150x	as long as short
Gate AVAX_USDTshort	+0.0019%	8h	10.615	+0.255%	$12.3M	$32.8M	75x
Backpack AVAX_USDC_PERPlong	+0.0034%	1h	10.588	long leg	$369K	$563K	15x
Bybit AVAXUSDT	+0.0066%	8h	10.611	+0.217%	$78.2M	$145.3M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AVAX	+0.0096%	1h	10.596	+0.077%	$1.2M	$2.6M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.619	+0.293%	$18K	$437K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0096%	8h	10.599	+0.099%	$12K	$212	20x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.623	+0.332%	$38.0M	$44.0M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.613	+0.240%	$2.1M	$1.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.601	+0.124%	$265K	$131K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.619	+0.291%	$113.1M	$432.0M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.617	+0.274%	$18.7M	$112.4M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.619	+0.293%	$44.0M	$80.5M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.615	+0.255%	$13.2M	$22.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.614	+0.246%	$32.1M	$49.2M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.617	+0.274%	—	$54.3M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.527	−0.576%	$337K	$978K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.532	−0.529%	$170K	$662K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.618	+0.283%	$132K	$354K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.624	+0.340%	$188K	$304K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.649	+0.572%	$12K	$759K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.618	+0.283%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.575	−0.118%	$344K	$804K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.572	−0.151%	$28.2M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.611	+0.214%	$636K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.616	+0.260%	$244K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0216%	1h	10.615	+0.255%	$843K	$4.9M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.545	−0.406%	$4.6M	$5.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.611	+0.215%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0271%	1h	10.617	+0.272%	$232K	—	120x	as long as short