Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.007%

Price spread now: Backpack against Binance0.000%7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$320.320% of the position

Long on Binance Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.079%−$8 on $10k

Price spread, last 4 days (all we have)−0.049%−$5 · spread now 0.000%, 7d avg +0.013%

Together, before fees−0.128%−$13 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance AVAXUSDT	10.698	0.0100	pay 0.0100% / 8h	1h 33m	$113.6M	$425.0M	75x
Short	Backpack AVAX_USDC_PERP	10.698	0.0100	get 0.0013% / 1h	33m 54s	$436K	$565K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Binance. 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 BinancebpFee BackpackbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.013%: −$1.27
Slippage, 4 orders: −$11.96
Fee Binance: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$33.23
Costs to cover: 0.320%
Break-even: never at this rate

Slippage from Binance: live order book, 10 min ago; Backpack: live order book, 10 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 Binance live order book, 10 min ago	0.47 bp	6.7 bp −$7	14.1 bp −$141	37.2 bp −$3,719	136.5 bp −$68.2K
Sell Backpack live order book, 10 min ago	1.40 bp	6.9 bp −$7	41.4 bp −$414	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	−0.0173%	1h	10.679	−0.178%	$285K	$340K	10x	as long as short
Variational Omni AVAX	−0.0045%	8h	10.676	−0.209%	$2.8M	$2.1M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.687	−0.101%	$89K	$117K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.686	−0.112%	$4.8M	$7.1M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.687	−0.107%	$12K	—	150x	as long as short
Gate AVAX_USDT	+0.0029%	8h	10.694	−0.037%	$12.7M	$32.2M	75x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	+0.580%	$17K	$152K	12x	as long as short
Paradex AVAX-USD-PERP	+0.0088%	8h	10.685	−0.121%	$12K	$212	20x	as long as short
Bybit AVAXUSDT	+0.0092%	8h	10.694	−0.037%	$81.1M	$146.4M	75x	as long as short
SoDEX AVAX-USD	+0.0096%	1h	10.683	−0.140%	$18K	$72K	10x	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	10.688	−0.096%	$1.2M	$2.5M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.685	−0.122%	$23K	$424K	50x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.702	+0.037%	$37.3M	$44.0M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.695	−0.025%	$2.2M	$1.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.691	−0.068%	$268K	$129K	10x	as long as short
Binance AVAXUSDTlong	+0.0100%	8h	10.698	long leg	$113.6M	$425.0M	75x
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.697	−0.009%	$18.7M	$112.4M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.696	−0.019%	$45.3M	$80.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.697	−0.009%	$13.6M	$23.0M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.696	−0.019%	$32.4M	$48.8M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.696	−0.019%	—	$54.5M	—	as long as short
Backpack AVAX_USDC_PERPshort	+0.0100%	1h	10.698	0.000%	$436K	$565K	15x
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.701	+0.026%	$340K	$1.1M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.705	+0.065%	$173K	$663K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.683	−0.140%	$135K	$352K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.692	−0.056%	$230K	$346K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.713	+0.136%	$11K	$765K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.692	−0.057%	$336K	$872K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.684	−0.131%	$28.5M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.691	−0.066%	$609K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.681	−0.154%	$245K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0113%	1h	10.690	−0.074%	$4.2M	$11.3M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0200%	1h	10.694	−0.037%	$930K	$5.0M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.676	−0.206%	$4.6M	$5.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.677	−0.198%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0295%	1h	10.684	−0.130%	$226K	—	120x	as long as short