Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0134%/8h= +14.7% APRpaid last 24h +0.059%

Price spread now: Coinbase International against Bybit+0.228%7-day average +0.098% · you sell dearer than you buy

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$430.431% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.255%+$26 on $10k

Price spread, last 4 days (all we have)−0.295%−$29 · spread now +0.228%, 7d avg +0.098%

Together, before fees−0.039%−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Coinbase International is 0.130% dearer against Bybit than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.098%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AVAXUSDT	10.517	0.0082	pay 0.0082% / 8h	2h 27m	$77.7M	$145.0M	75x
Short	Coinbase International AVAX-PERP-INTX	10.541	0.0216	get 0.0027% / 1h	27m 02s	$826K	$4.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bybit. 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 BybitbpFee Coinbase InternationalbpOrdersPrice spread, now +0.228%Rate

Funding earned: $28.2
Price spread: +0.228% → +0.098%: $13.04
Slippage, 4 orders: −$22.12
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$1.88
Costs to cover: 0.431%
Break-even: 7.5 days

Slippage from Bybit: live order book, 2 min ago; Coinbase International: live order book, 2 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 Bybit live order book, 2 min ago	0.47 bp	8.8 bp −$9	15.8 bp −$158	40.3 bp −$4,029	doesn't fit
Sell Coinbase International live order book, 2 min ago	3.31 bp	13.1 bp −$13	19.0 bp −$190	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	10.760	+2.311%	$17K	$152K	12x	as long as short
Kraken Futures PF_AVAXUSD	−0.0283%	1h	10.540	+0.222%	$4.2M	$11.5M	50x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0130%	1h	10.536	+0.181%	$4.7M	$7.5M	25x	as long as short
Nado AVAX-PERP	−0.0051%	1h	10.545	+0.271%	$287K	$339K	10x	as long as short
Variational Omni AVAX	−0.0006%	8h	10.571	+0.512%	$2.8M	$2.1M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.564	+0.450%	$88K	$117K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.542	+0.239%	$12K	—	150x	as long as short
Gate AVAX_USDT	+0.0023%	8h	10.534	+0.162%	$12.1M	$32.6M	75x	as long as short
Backpack AVAX_USDC_PERP	+0.0075%	1h	10.535	+0.171%	$367K	$563K	15x	as long as short
Polymarket Perps AVAX-USD	+0.0081%	1h	10.553	+0.342%	$131K	$355K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit AVAXUSDTlong	+0.0082%	8h	10.517	long leg	$77.7M	$145.0M	75x
Paradex AVAX-USD-PERP	+0.0096%	8h	10.560	+0.409%	$12K	$212	20x	as long as short
Lighter AVAX	+0.0096%	1h	10.536	+0.182%	$1.1M	$2.6M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.551	+0.323%	$18K	$443K	50x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.542	+0.235%	$37.9M	$43.9M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.533	+0.152%	$2.1M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.562	+0.428%	$265K	$130K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.528	+0.107%	$112.0M	$431.1M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.523	+0.057%	$18.5M	$111.1M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.539	+0.209%	$42.6M	$80.0M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.533	+0.152%	$13.1M	$22.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.530	+0.124%	$31.7M	$49.4M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.533	+0.152%	—	$54.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.602	+0.808%	$340K	$978K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.606	+0.846%	$171K	$661K	50x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.538	+0.200%	$167K	$339K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.581	+0.604%	$11K	$756K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.536	+0.181%	$17K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.540	+0.214%	$342K	$803K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.541	+0.228%	$28.1M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.532	+0.138%	$638K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.533	+0.148%	$242K	—	3x	as long as short
Coinbase International AVAX-PERP-INTXshort	+0.0216%	1h	10.541	+0.228%	$826K	$4.8M	50x
BloFin AVAX-USDT	+0.0220%	8h	10.530	+0.124%	$4.6M	$5.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.536	+0.180%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0271%	1h	10.542	+0.237%	$230K	—	120x	as long as short