Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.041%

Price spread now: Binance against Coinbase International−0.121%7-day average −0.060% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$390.389% of the position

Long on Coinbase International Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.210%−$21 on $10k

Price spread, last 4 days (all we have)+0.229%+$23 · spread now −0.121%, 7d avg −0.060%

Together, before fees+0.019%+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Binance is 0.062% cheaper against Coinbase International than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.060%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International AVAX-PERP-INTX	10.724	0.0200	pay 0.0025% / 1h	55m 32s	$933K	$5.1M	50x
Short	Binance AVAXUSDT	10.711	0.0100	get 0.0100% / 8h	1h 55m	$113.9M	$432.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Coinbase International. 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 Coinbase InternationalbpFee BinancebpOrdersPrice spread, now −0.121%Rate

Funding earned: −$21
Price spread: −0.121% → −0.060%: −$6.17
Slippage, 4 orders: −$18.86
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$66.03
Costs to cover: 0.389%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; Binance: live order book, 3 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 Coinbase International live order book, 3 min ago	5.12 bp	12.5 bp −$12	19.2 bp −$192	doesn't fit	doesn't fit
Sell Binance live order book, 3 min ago	0.47 bp	6.9 bp −$7	12.7 bp −$127	38.1 bp −$3,810	134.1 bp −$67.0K

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
Nado AVAX-PERP	−0.0251%	1h	10.709	−0.145%	$287K	$340K	10x	as long as short
Variational Omni AVAX	−0.0033%	8h	10.709	−0.143%	$2.8M	$2.1M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.713	−0.103%	$89K	$117K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.710	−0.131%	$4.8M	$7.5M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.712	−0.112%	$12K	—	150x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	+0.336%	$17K	$152K	12x	as long as short
Gate AVAX_USDT	+0.0035%	8h	10.713	−0.103%	$12.7M	$31.9M	75x	as long as short
SoDEX AVAX-USD	+0.0039%	1h	10.707	−0.159%	$18K	$72K	10x	as long as short
Bybit AVAXUSDT	+0.0091%	8h	10.709	−0.140%	$81.9M	$148.0M	75x	as long as short
Lighter AVAX	+0.0096%	1h	10.715	−0.084%	$1.2M	$2.5M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex AVAXUSDT	+0.0096%	1h	10.711	−0.121%	$23K	$437K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0097%	8h	10.714	−0.090%	$12K	$212	20x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.726	+0.019%	$37.6M	$44.7M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.710	−0.129%	$2.2M	$1.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.717	−0.065%	$269K	$132K	10x	as long as short
Binance AVAXUSDTshort	+0.0100%	8h	10.711	−0.121%	$113.9M	$432.2M	75x
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.710	−0.131%	$18.8M	$113.6M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.715	−0.084%	$45.2M	$80.2M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.714	−0.093%	$13.6M	$23.0M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.711	−0.121%	$32.5M	$49.2M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.711	−0.121%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.712	−0.112%	$428K	$564K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.716	−0.071%	$336K	$1.0M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.720	−0.037%	$173K	$663K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.713	−0.103%	$136K	$354K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.716	−0.075%	$230K	$351K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.742	+0.169%	$11K	$767K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.706	−0.173%	$343K	$879K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.705	−0.177%	$28.6M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.705	−0.175%	$612K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.707	−0.163%	$246K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0113%	1h	10.709	−0.139%	$4.2M	$11.5M	50x	as long as short
Coinbase International AVAX-PERP-INTXlong	+0.0200%	1h	10.724	long leg	$933K	$5.1M	50x
BloFin AVAX-USDT	+0.0220%	8h	10.712	−0.112%	$4.7M	$5.7M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.709	−0.142%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0295%	1h	10.712	−0.110%	$227K	—	120x	as long as short