Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.019%

Price spread now: Polymarket Perps against Backpack−0.272%7-day average +0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$360.359% of the position

Long on Backpack Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.105%+$10 on $10k

Price spread, last 4 days (all we have)+0.607%+$61 · spread now −0.272%, 7d avg +0.021%

Together, before fees+0.712%+$71 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: Polymarket Perps is 0.293% cheaper against Backpack than usual: you would sell low and buy high, −$29 on $10k if it goes back to its 7-day average of +0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AVAX_USDC_PERP	11.026	0.0100	pay 0.0013% / 1h	54m 20s	$369K	$547K	15x
Short	Polymarket Perps AVAX-USD	10.996	0.0100	get 0.0013% / 1h	54m 20s	$129K	$345K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.272%Rate

Funding earned: $0
Price spread: −0.272% → +0.021%: −$29.29
Slippage, 4 orders: −$17.89
Fee Backpack: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$65.17
Costs to cover: 0.359%
Break-even: never at this rate

Slippage from Backpack: live order book, 64 min ago; Polymarket Perps: live order book, 63 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, 64 min ago	1.80 bp	10.6 bp −$11	55.5 bp −$555	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 63 min ago	2.69 bp	8.9 bp −$9	10.7 bp −$107	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	−0.1421%	1h	10.940	−0.780%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0023%	1h	10.992	−0.308%	$5.1M	$7.9M	25x	as long as short
Nado AVAX-PERP	−0.0003%	1h	10.986	−0.363%	$285K	$318K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.001	−0.227%	$96K	$97K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.996	−0.272%	$12K	—	150x	as long as short
Kraken Futures PF_AVAXUSD	+0.0020%	1h	10.994	−0.291%	$4.3M	$11.3M	50x	as long as short
Lighter AVAX	+0.0096%	1h	10.991	−0.316%	$1.2M	$2.7M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.995	−0.281%	$15K	$458K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.002	−0.215%	$12K	$378	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.003	−0.209%	$2.2M	$1.1M	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	11.002	−0.220%	$277K	$129K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.997	−0.263%	$116.0M	$428.6M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.990	−0.327%	$84.2M	$140.8M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.992	−0.308%	$20.2M	$114.2M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	10.989	−0.336%	$12.1M	$32.1M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.992	−0.308%	$45.9M	$78.0M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.995	−0.281%	$15.5M	$21.7M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.991	−0.317%	$33.1M	$47.8M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.995	−0.281%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERPlong	+0.0100%	1h	11.026	long leg	$369K	$547K	15x
Variational Omni AVAX	+0.0100%	8h	10.987	−0.358%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.988	−0.345%	$345K	$891K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.993	−0.299%	$177K	$671K	50x	as long as short
Polymarket Perps AVAX-USDshort	+0.0100%	1h	10.996	−0.272%	$129K	$345K	10x
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.000	−0.236%	$193K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.027	+0.011%	$12K	$718K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.992	−0.308%	$18K	$71K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.998	−0.249%	$366K	$811K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.992	−0.308%	$29.3M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.987	−0.349%	$678K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.989	−0.340%	$252K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.024	−0.018%	$5.0M	$5.4M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.001	−0.227%	$896K	$5.2M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	10.984	−0.383%	$1K	—	20x	as long as short
Hyperliquid AVAX	+0.0333%	1h	11.002	−0.218%	$42.7M	$41.6M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	10.993	−0.295%	$233K	—	120x	as long as short