Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.1671%/8h= −182.9% APRpaid last 24h −0.174%

Price spread now: Injective against BloFin−0.294%7-day average −0.255% · you buy dearer than you sell

Net, funding: paid 7d − costs−$168as in the Funding arb table

Net, price: spread back to 7d avg − costs−$118as in the Price arb table

costs, in and out, $10k−$1141.142% of the position

Long on BloFin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.536%−$54 on $10k

Price spread, last 3 days (all we have)+1.304%+$130 · spread now −0.294%, 7d avg −0.255%

Together, before fees+0.768%+$77 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$50 a day on $10k at the current rate, and Injective is 0.039% cheaper against BloFin than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.255%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.536% in total (about -27.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin AVAX-USDT	11.223	0.0220	pay 0.0220% / 8h	19m 06s	$5.0M	$7.4M	100x
Short	Injective AVAX/USDC PERP	11.190	−0.1451	pay 0.0181% / 1h	19m 06s	$17K	$151K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BloFin. 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 BloFinbpFee InjectivebpOrdersPrice spread, now −0.294%Rate

Funding earned: −$350.83
Price spread: −0.294% → −0.255%: −$3.93
Slippage, 4 orders: −$102.2
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$468.98
Costs to cover: 1.142%
Break-even: never at this rate

Slippage from BloFin: live order book, 5 min ago; Injective: live order book, 60 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 BloFin live order book, 5 min ago	0.89 bp	7.4 bp −$7	10.7 bp −$107	27.6 bp −$2,764	doesn't fit
Sell Injective live order book, 60 min ago	40.02 bp	40.0 bp −$40	doesn't fit	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 PERPshort	−0.1451%	1h	11.190	−0.294%	$17K	$151K	12x
Deribit AVAX_USDC-PERPETUAL	−0.0106%	1h	11.220	−0.027%	$5.3M	$8.9M	25x	as long as short
Nado AVAX-PERP	−0.0097%	1h	11.220	−0.031%	$296K	$878K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.221	−0.022%	$103K	$111K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.225	+0.017%	$13K	—	150x	as long as short
Variational Omni AVAX	+0.0088%	8h	11.220	−0.027%	$3.0M	$2.4M	—	as long as short
Lighter AVAX	+0.0096%	1h	11.220	−0.026%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.220	−0.027%	$18K	$667K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.214	−0.083%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.221	−0.015%	$2.3M	$1.7M	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	11.221	−0.021%	$298K	$118K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.220	−0.028%	$120.1M	$511.9M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.218	−0.045%	$89.3M	$154.9M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.218	−0.045%	$20.3M	$143.4M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.220	−0.027%	$12.5M	$40.3M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.221	−0.018%	$50.6M	$93.5M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.225	+0.018%	$15.8M	$24.2M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.220	−0.027%	$34.2M	$57.9M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.220	−0.027%	—	$6.6M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.221	−0.018%	$359K	$563K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.225	+0.015%	$351K	$862K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.227	+0.036%	$180K	$686K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.224	+0.009%	$132K	$440K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.231	+0.071%	$204K	$303K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.251	+0.249%	$12K	$734K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.222	−0.009%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.219	−0.033%	$363K	$999K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.221	−0.018%	$30.2M	$4.9M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.219	−0.032%	$669K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.222	−0.013%	$258K	—	3x	as long as short
BloFin AVAX-USDTlong	+0.0220%	8h	11.223	long leg	$5.0M	$7.4M	100x
Reya AVAXRUSDPERP	+0.0244%	1h	11.221	−0.019%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0270%	1h	11.227	+0.033%	$4.6M	$13.1M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0280%	1h	11.231	+0.071%	$912K	$7.8M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0428% / S −0.0285%	1h	11.223	+0.001%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0804%	1h	11.238	+0.135%	$43.6M	$54.9M	10x	as long as short