Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0204%/8h= −22.3% APRpaid last 24h −0.031%

Price spread now: Binance against Coinbase International−0.107%7-day average −0.060% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$390.387% 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−0.198%−$20 on $10k

Price spread, last 3 days (all we have)+0.215%+$22 · spread now −0.107%, 7d avg −0.060%

Together, before fees+0.017%+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Binance is 0.048% cheaper against Coinbase International than usual: you would sell low and buy high (−$5 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	11.170	0.0304	pay 0.0038% / 1h	55m 10s	$910K	$7.5M	50x
Short	Binance AVAXUSDT	11.158	0.0100	get 0.0100% / 8h	7h 55m	$119.6M	$508.1M	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 −0.107%Rate

Funding earned: −$42.84
Price spread: −0.107% → −0.060%: −$4.77
Slippage, 4 orders: −$18.74
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$86.35
Costs to cover: 0.387%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; Binance: live order book, 4 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, 4 min ago	3.11 bp	13.8 bp −$14	18.7 bp −$187	doesn't fit	doesn't fit
Sell Binance live order book, 4 min ago	0.44 bp	6.7 bp −$7	13.4 bp −$134	44.9 bp −$4,490	135.1 bp −$67.5K

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	−0.1363%	1h	11.180	+0.090%	$17K	$151K	12x	as long as short
Gate AVAX_USDT	−0.0408%	8h	11.160	−0.090%	$12.3M	$37.5M	75x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0288%	1h	11.151	−0.170%	$5.3M	$8.8M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.183	+0.115%	$103K	$105K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.166	−0.035%	$13K	—	150x	as long as short
Nado AVAX-PERP	+0.0007%	1h	11.166	−0.031%	$293K	$873K	10x	as long as short
Lighter AVAX	+0.0096%	1h	11.156	−0.127%	$1.2M	$3.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.169	−0.009%	$18K	$653K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.174	+0.038%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.174	+0.032%	$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	11.182	+0.111%	$297K	$118K	10x	as long as short
Binance AVAXUSDTshort	+0.0100%	8h	11.158	−0.107%	$119.6M	$508.1M	75x
Bybit AVAXUSDT	+0.0100%	8h	11.159	−0.098%	$88.8M	$154.2M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.161	−0.081%	$20.1M	$140.9M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.159	−0.098%	$49.4M	$87.8M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.164	−0.054%	$15.6M	$24.0M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.160	−0.090%	$34.0M	$57.4M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.163	−0.063%	—	$86.6M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.161	−0.081%	$357K	$563K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.210	+0.358%	$3.0M	$2.4M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.219	+0.439%	$361K	$863K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.217	+0.421%	$180K	$688K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.170	0.000%	$131K	$440K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.167	−0.027%	$203K	$303K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.195	+0.224%	$12K	$735K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.155	−0.134%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.168	−0.022%	$361K	$997K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.161	−0.081%	$30.0M	$4.9M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.151	−0.171%	$666K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.174	+0.034%	$257K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0216%	1h	11.162	−0.075%	$4.5M	$12.9M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.163	−0.063%	$5.0M	$6.7M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.164	−0.049%	$1K	—	20x	as long as short
Coinbase International AVAX-PERP-INTXlong	+0.0304%	1h	11.170	long leg	$910K	$7.5M	50x
GMX AVAX/USD [AVAX-USDC]	L +0.0435% / S −0.0259%	1h	11.165	−0.044%	$249K	—	120x	as long as short
Hyperliquid AVAX	+0.0595%	1h	11.178	+0.072%	$43.6M	$55.0M	10x	as long as short