Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0132%/8h= −14.5% APRpaid last 24h −0.057%

Price spread now: Bybit against Coinbase International−0.281%7-day average −0.097% · you buy dearer than you sell

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$420.424% of the position

Long on Coinbase International Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.252%−$25 on $10k

Price spread, last 4 days (all we have)+0.474%+$47 · spread now −0.281%, 7d avg −0.097%

Together, before fees+0.222%+$22 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 Bybit is 0.184% cheaper against Coinbase International than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of −0.097%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International AVAX-PERP-INTX	11.051	0.0232	pay 0.0029% / 1h	22m 02s	$885K	$5.2M	50x
Short	Bybit AVAXUSDT	11.020	0.0100	get 0.0100% / 8h	4h 22m	$87.5M	$137.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.281%Rate

Funding earned: −$27.72
Price spread: −0.281% → −0.097%: −$18.36
Slippage, 4 orders: −$21.42
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$88.49
Costs to cover: 0.424%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; Bybit: 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 Coinbase International live order book, 2 min ago	2.71 bp	13.9 bp −$14	20.2 bp −$202	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.45 bp	8.2 bp −$8	14.5 bp −$145	36.4 bp −$3,635	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	11.020	−0.281%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0203%	1h	11.025	−0.235%	$5.1M	$7.9M	25x	as long as short
Nado AVAX-PERP	−0.0024%	1h	11.035	−0.140%	$286K	$370K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.039	−0.112%	$97K	$97K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.029	−0.199%	$12K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.023	−0.250%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.035	−0.145%	$15K	$549K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.035	−0.140%	$12K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.033	−0.161%	$2.2M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.041	−0.093%	$288K	$114K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AVAXUSDT	+0.0100%	8h	11.022	−0.262%	$117.0M	$428.2M	75x	as long as short
Bybit AVAXUSDTshort	+0.0100%	8h	11.020	−0.281%	$87.5M	$137.5M	75x
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.023	−0.253%	$20.2M	$114.7M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.014	−0.335%	$12.1M	$34.3M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.018	−0.299%	$46.7M	$78.0M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.020	−0.281%	$15.5M	$21.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.017	−0.308%	$33.0M	$47.9M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.023	−0.253%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.018	−0.299%	$331K	$522K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.064	+0.122%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.078	+0.244%	$350K	$863K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.073	+0.199%	$178K	$671K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.037	−0.127%	$129K	$335K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.033	−0.163%	$194K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.058	+0.065%	$12K	$707K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.024	−0.244%	$18K	$71K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.034	−0.149%	$361K	$813K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.024	−0.244%	$29.4M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.024	−0.240%	$682K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.027	−0.217%	$253K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0214%	1h	11.025	−0.235%	$4.3M	$11.2M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.046	−0.045%	$5.0M	$5.4M	100x	as long as short
Coinbase International AVAX-PERP-INTXlong	+0.0232%	1h	11.051	long leg	$885K	$5.2M	50x
Reya AVAXRUSDPERP	+0.0244%	1h	11.029	−0.202%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.029	−0.201%	$234K	—	120x	as long as short
Hyperliquid AVAX	+0.0554%	1h	11.033	−0.163%	$42.8M	$42.0M	10x	as long as short