Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0132%/8h= −14.5% APRpaid last 24h −0.037%

Price spread now: MEXC against Coinbase International−0.125%7-day average −0.057% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$270.269% of the position

Long on Coinbase International Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.205%−$20 on $10k

Price spread, last 4 days (all we have)+0.620%+$62 · spread now −0.125%, 7d avg −0.057%

Together, before fees+0.416%+$42 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 MEXC is 0.068% cheaper against Coinbase International than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.057%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International AVAX-PERP-INTX	11.182	0.0232	pay 0.0029% / 1h	28m 56s	$899K	$5.5M	50x
Short	MEXC AVAX_USDT	11.168	0.0100	get 0.0100% / 8h	5h 28m	$48.0M	$79.1M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.125%Rate

Funding earned: −$27.72
Price spread: −0.125% → −0.057%: −$6.78
Slippage, 4 orders: −$16.91
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$61.41
Costs to cover: 0.269%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 5 min ago; MEXC: 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 Coinbase International live order book, 5 min ago	3.13 bp	12.7 bp −$13	19.2 bp −$192	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	0.45 bp	0.4 bp $0	3.5 bp −$35	43.1 bp −$4,308	89.3 bp −$44.6K

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	−0.1374%	1h	11.120	−0.554%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0081%	1h	11.171	−0.094%	$287K	$448K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0019%	1h	11.167	−0.134%	$5.2M	$7.9M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.172	−0.093%	$103K	$87K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.171	−0.098%	$13K	—	150x	as long as short
Kraken Futures PF_AVAXUSD	+0.0045%	1h	11.171	−0.094%	$4.3M	$11.5M	50x	as long as short
Lighter AVAX	+0.0096%	1h	11.166	−0.141%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.169	−0.116%	$16K	$564K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.175	−0.059%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.169	−0.113%	$2.3M	$1.2M	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	11.179	−0.027%	$291K	$112K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.168	−0.124%	$119.4M	$433.1M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.163	−0.170%	$88.7M	$138.1M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.163	−0.170%	$20.1M	$117.8M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.168	−0.125%	$12.2M	$34.9M	75x	as long as short
MEXC AVAX_USDTshort	+0.0100%	8h	11.168	−0.125%	$48.0M	$79.1M	200x
KuCoin AVAXUSDTM	+0.0100%	8h	11.170	−0.107%	$15.7M	$21.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.166	−0.143%	$33.5M	$48.5M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.167	−0.134%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.167	−0.134%	$357K	$497K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.168	−0.123%	$2.9M	$2.3M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.174	−0.076%	$358K	$801K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.179	−0.027%	$180K	$678K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.173	−0.080%	$131K	$349K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.178	−0.036%	$196K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.202	+0.176%	$12K	$701K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.167	−0.134%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.168	−0.123%	$366K	$870K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.166	−0.143%	$29.8M	$5.6M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.165	−0.149%	$675K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.163	−0.173%	$256K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.162	−0.179%	$5.1M	$5.5M	100x	as long as short
Coinbase International AVAX-PERP-INTXlong	+0.0232%	1h	11.182	long leg	$899K	$5.5M	50x
Reya AVAXRUSDPERP	+0.0244%	1h	11.170	−0.111%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.170	−0.105%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0496%	1h	11.183	+0.009%	$43.5M	$43.1M	10x	as long as short