Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.026%

Price spread now: Phemex against Bybit+0.101%53s7-day average +0.061% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as 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−$440.444% of the position

Long on Bybit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.067%+$7 on $10k

Price spread, last 4 days (all we have)−0.217%−$22 · spread now +0.101%, 7d avg +0.061%

Together, before fees−0.151%−$15 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: Phemex is 0.039% dearer against Bybit than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.061%. The two prices were read 53 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	Bybit AVAXUSDT	10.928	0.0100	pay 0.0100% / 8h	3h 19m	$82.8M	$138.3M	75x
Short	Phemex AVAXUSDT	10.939	0.0100	get 0.0100% / 8h	3h 19m	$29.2M	$5.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.101%Rate

Funding earned: $0
Price spread: +0.101% → +0.061%: $3.93
Slippage, 4 orders: −$21.4
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$40.48
Costs to cover: 0.444%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; Phemex: live order book, 5 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, 5 min ago	0.46 bp	8.0 bp −$8	13.2 bp −$132	35.1 bp −$3,509	doesn't fit
Sell Phemex live order book, 5 min ago	3.66 bp	13.8 bp −$14	22.8 bp −$228	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	−0.1421%	1h	10.860	−0.622%	$17K	$151K	12x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.930	+0.015%	$96K	$96K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.939	+0.101%	$5.0M	$7.5M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.935	+0.068%	$12K	—	150x	as long as short
Kraken Futures PF_AVAXUSD	+0.0020%	1h	10.941	+0.119%	$4.2M	$11.0M	50x	as long as short
Nado AVAX-PERP	+0.0032%	1h	10.933	+0.050%	$284K	$309K	10x	as long as short
Gate AVAX_USDT	+0.0084%	8h	10.934	+0.055%	$12.3M	$32.5M	75x	as long as short
Lighter AVAX	+0.0096%	1h	10.934	+0.050%	$1.2M	$2.7M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.932	+0.037%	$7K	$448K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0099%	8h	10.929	+0.007%	$12K	$212	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster AVAXUSDT	+0.0100%	8h	10.931	+0.028%	$2.2M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.932	+0.040%	$275K	$130K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.932	+0.037%	$114.7M	$419.0M	75x	as long as short
Bybit AVAXUSDTlong	+0.0100%	8h	10.928	long leg	$82.8M	$138.3M	75x
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.933	+0.046%	$19.8M	$110.9M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.934	+0.055%	$45.5M	$78.8M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.936	+0.073%	$15.1M	$21.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.937	+0.082%	$32.9M	$47.1M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.929	+0.009%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.936	+0.073%	$372K	$547K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	10.916	−0.114%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.921	−0.064%	$351K	$945K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.924	−0.037%	$176K	$666K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.934	+0.055%	$128K	$343K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.939	+0.101%	$192K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.971	+0.390%	$12K	$719K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.938	+0.092%	$18K	$71K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.938	+0.087%	$359K	$777K	75x	as long as short
Phemex AVAXUSDTshort	+0.0100%	8h	10.939	+0.101%	$29.2M	$5.8M	50x
Extended AVAX-USD	+0.0104%	1h	10.926	−0.014%	$673K	$1.3M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.932	+0.041%	$251K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.923	−0.046%	$4.9M	$5.3M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	10.933	+0.046%	$891K	$4.8M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	10.930	+0.021%	$1K	—	20x	as long as short
Hyperliquid AVAX	+0.0260%	1h	10.947	+0.174%	$42.0M	$40.3M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0279%	1h	10.935	+0.063%	$237K	—	120x	as long as short