Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0233%/8h= −25.5% APRpaid last 24h +0.022%

Price spread now: Phemex against gTrade (Gains Network)+0.103%70s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on gTrade (Gains Network)Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Phemex is 0.103% dearer against gTrade (Gains Network) than usual: you sell high and buy low (spread +0.103% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 35 hours. The two prices were read 70 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	gTrade (Gains Network) AVAX/USD	10.839	L +0.0002% / S −0.0003%	pay 0.0000% / 1h	20m 55s	$12K	—	150x
Short	Phemex AVAXUSDT	10.850	−0.0231	pay 0.0231% / 8h	7h 20m	$28.9M	$5.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee PhemexbpOrdersPrice spread, now +0.103%Rate

Funding earned: −$48.94
Price spread: +0.103% → 0.000%: $10.33
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$60.61
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: gTrade (Gains Network): no order-book sample; Phemex: live order book, 3 min ago. Net counts fees only.

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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Phemex live order book, 3 min ago	1.85 bp	15.3 bp −$15	23.1 bp −$231	doesn't fit	doesn't fit

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Kraken Futures PF_AVAXUSD	−0.0263%	1h	10.861	+0.203%	$3.8M	$11.6M	50x	as long as short
Phemex AVAXUSDTshort	−0.0231%	8h	10.850	+0.103%	$28.9M	$5.6M	50x
Nado AVAX-PERP	−0.0209%	1h	10.860	+0.191%	$283K	$320K	10x	as long as short
Variational Omni AVAX	−0.0083%	8h	10.849	+0.093%	$3.0M	$2.1M	—	as long as short
SoDEX AVAX-USD	−0.0067%	1h	10.855	+0.149%	$19K	$68K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.860	+0.199%	$92K	$111K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.863	+0.223%	$4.9M	$6.7M	25x	as long as short
gTrade (Gains Network) AVAX/USDlong	L +0.0002% / S −0.0003%	1h	10.839	long leg	$12K	—	150x
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	−0.727%	$17K	$151K	12x	as long as short
Gate AVAX_USDT	+0.0064%	8h	10.842	+0.030%	$14.0M	$29.1M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex AVAX-USD-PERP	+0.0087%	8h	10.844	+0.048%	$12K	$62	20x	as long as short
Lighter AVAX	+0.0096%	1h	10.854	+0.143%	$1.2M	$2.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.855	+0.149%	$22K	$469K	50x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.848	+0.085%	$36.0M	$39.5M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.844	+0.049%	$2.2M	$1.4M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.847	+0.079%	$273K	$128K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.836	−0.027%	$114.4M	$389.8M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.836	−0.026%	$84.7M	$136.4M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.835	−0.035%	$19.1M	$106.1M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.838	−0.007%	$53.6M	$79.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.840	+0.011%	$14.0M	$20.4M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.840	+0.011%	$33.0M	$45.0M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.835	−0.035%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.859	+0.186%	$440K	$531K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.800	−0.361%	$343K	$1.3M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.804	−0.321%	$174K	$661K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.861	+0.205%	$136K	$278K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.866	+0.251%	$235K	$233K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.889	+0.465%	$12K	$770K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.848	+0.087%	$336K	$847K	75x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.831	−0.068%	$619K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.854	+0.138%	$249K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0200%	1h	10.863	+0.223%	$859K	$5.2M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.855	+0.149%	$4.7M	$5.4M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.854	+0.140%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0294%	1h	10.854	+0.144%	$229K	—	120x	as long as short