Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.011%

Price spread now: Backpack against Bitget−0.117%7-day average +0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$380.381% of the position

Long on Bitget Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.101%−$10 on $10k

Price spread, last 4 days (all we have)+0.099%+$10 · spread now −0.117%, 7d avg +0.045%

Together, before fees−0.002%$0 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: Backpack is 0.162% cheaper against Bitget than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of +0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget AVAXUSDT	11.088	0.0100	pay 0.0100% / 8h	4h 49m	$33.3M	$48.1M	75x
Short	Backpack AVAX_USDC_PERP	11.075	0.0100	get 0.0013% / 1h	49m 56s	$335K	$524K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Bitget. 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 BitgetbpFee BackpackbpOrdersPrice spread, now −0.117%Rate

Funding earned: $0
Price spread: −0.117% → +0.045%: −$16.19
Slippage, 4 orders: −$16.13
Fee Bitget: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$54.31
Costs to cover: 0.381%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; Backpack: live order book, 9 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 Bitget live order book, 4 min ago	0.45 bp	9.4 bp −$9	16.0 bp −$160	37.5 bp −$3,750	doesn't fit
Sell Backpack live order book, 9 min ago	1.80 bp	9.8 bp −$10	52.2 bp −$522	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	−0.1423%	1h	11.090	+0.018%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0201%	1h	11.075	−0.117%	$5.2M	$7.9M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.077	−0.103%	$97K	$97K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.082	−0.053%	$13K	—	150x	as long as short
Nado AVAX-PERP	+0.0009%	1h	11.080	−0.072%	$285K	$394K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0058%	1h	11.137	+0.442%	$179K	$673K	50x	as long as short
Lighter AVAX	+0.0096%	1h	11.079	−0.085%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.076	−0.108%	$16K	$582K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.082	−0.050%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.075	−0.117%	$2.3M	$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	11.083	−0.047%	$289K	$114K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.079	−0.081%	$117.8M	$427.9M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.080	−0.072%	$88.2M	$137.6M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.081	−0.063%	$20.2M	$115.7M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.070	−0.162%	$12.1M	$34.0M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.073	−0.135%	$48.1M	$77.5M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.076	−0.108%	$15.8M	$21.6M	75x	as long as short
Bitget AVAXUSDTlong	+0.0100%	8h	11.088	long leg	$33.3M	$48.1M	75x
BingX AVAX-USDT	+0.0100%	8h	11.078	−0.090%	—	$80.3M	—	as long as short
Backpack AVAX_USDC_PERPshort	+0.0100%	1h	11.075	−0.117%	$335K	$524K	15x
Variational Omni AVAX	+0.0100%	8h	11.091	+0.023%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.137	+0.442%	$355K	$835K	10x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.085	−0.027%	$130K	$349K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.084	−0.036%	$195K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.113	+0.227%	$12K	$703K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.077	−0.099%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.075	−0.113%	$364K	$829K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.080	−0.072%	$29.6M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.069	−0.175%	$680K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.079	−0.082%	$254K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0212%	1h	11.081	−0.064%	$4.3M	$11.3M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.093	+0.045%	$5.1M	$5.4M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.089	+0.009%	$888K	$5.3M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.081	−0.066%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.083	−0.048%	$235K	—	120x	as long as short
Hyperliquid AVAX	+0.0682%	1h	11.089	+0.009%	$43.2M	$42.3M	10x	as long as short