Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0124%/8h= −13.6% APRpaid last 24h −0.011%

Price spread now: Lighter against BloFin−0.094%90s7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$250.245% of the position

Long on BloFin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.317%−$32 on $10k

Price spread, last 4 days (all we have)+0.145%+$15 · spread now −0.094%, 7d avg −0.032%

Together, before fees−0.172%+ Points / potential airdropLighter: Season 3 · farm board−$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Lighter is 0.061% cheaper against BloFin than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.032%). Swap the legs. The two prices were read 90 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin AVAX-USDT	10.663	0.0220	pay 0.0220% / 8h	35m 47s	$4.6M	$5.5M	100x
Short	Lighter AVAX	10.653	0.0096	get 0.0012% / 1h	35m 47s	$1.2M	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.094%Rate

Funding earned: −$26.04
Price spread: −0.094% → −0.032%: −$6.14
Slippage, 4 orders: −$12.51
Fee BloFin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$56.69
Costs to cover: 0.245%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; Lighter: live order book, 6 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, 3 min ago	0.94 bp	9.1 bp −$9	16.2 bp −$162	36.1 bp −$3,615	doesn't fit
Sell Lighter live order book, 6 min ago	3.08 bp	3.2 bp −$3	12.8 bp −$128	87.1 bp −$8,708	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
Kraken Futures PF_AVAXUSD	−0.0185%	1h	10.658	−0.045%	$3.8M	$11.7M	50x	as long as short
Nado AVAX-PERP	−0.0135%	1h	10.649	−0.127%	$288K	$335K	10x	as long as short
Variational Omni AVAX	−0.0075%	8h	10.652	−0.099%	$2.9M	$2.2M	—	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0031%	1h	10.660	−0.028%	$4.8M	$6.9M	25x	as long as short
Gate AVAX_USDT	−0.0003%	8h	10.660	−0.028%	$13.0M	$30.7M	75x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.658	−0.048%	$91K	$111K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.661	−0.018%	$12K	—	150x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	+0.910%	$17K	$151K	12x	as long as short
Paradex AVAX-USD-PERP	+0.0086%	8h	10.650	−0.126%	$12K	$212	20x	as long as short
Bybit AVAXUSDT	+0.0088%	8h	10.649	−0.131%	$81.2M	$141.0M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AVAXshort	+0.0096%	1h	10.653	−0.094%	$1.2M	$2.4M	10x
Popdex AVAXUSDT	+0.0096%	1h	10.649	−0.131%	$25K	$469K	50x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.668	+0.047%	$36.6M	$43.0M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.659	−0.037%	$2.2M	$904K	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.659	−0.033%	$268K	$129K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.654	−0.087%	$112.6M	$412.6M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.649	−0.131%	$18.7M	$108.7M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.651	−0.113%	$45.2M	$79.6M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.654	−0.084%	$13.6M	$22.1M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.649	−0.131%	$32.3M	$47.4M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.647	−0.150%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.661	−0.019%	$435K	$554K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.674	+0.099%	$342K	$1.1M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.711	+0.450%	$173K	$660K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.657	−0.056%	$134K	$329K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.666	+0.028%	$231K	$255K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.688	+0.235%	$11K	$770K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.657	−0.056%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.659	−0.042%	$325K	$867K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.658	−0.047%	$28.4M	$5.7M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.645	−0.169%	$607K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.580	−0.779%	$243K	—	3x	as long as short
BloFin AVAX-USDTlong	+0.0220%	8h	10.663	long leg	$4.6M	$5.5M	100x
Coinbase International AVAX-PERP-INTX	+0.0224%	1h	10.669	+0.056%	$849K	$4.7M	50x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.652	−0.104%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0443% / S −0.0294%	1h	10.660	−0.024%	$225K	—	120x	as long as short