Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.022%

Price spread now: Backpack against HTX+0.085%7-day average +0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$125as in the Funding arb table

Net, price: spread back to 7d avg − costs−$104as in the Price arb table

costs, in and out, $10k−$1091.091% of the position

Long on HTX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.155%−$16 on $10k

Price spread, last 4 days (all we have)+0.114%+$11 · spread now +0.085%, 7d avg +0.039%

Together, before fees−0.042%−$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.046% dearer against HTX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX AVAX-USDT	11.117	0.0100	pay 0.0100% / 8h	4h 47m	$366K	$829K	75x
Short	Backpack AVAX_USDC_PERP	11.127	0.0100	get 0.0013% / 1h	47m 13s	$336K	$524K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against HTX. 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 HTXbpFee BackpackbpOrdersPrice spread, now +0.085%Rate

Funding earned: $0
Price spread: +0.085% → +0.039%: $4.62
Slippage, 4 orders: −$87.06
Fee HTX: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$104.44
Costs to cover: 1.091%
Break-even: never at this rate

Slippage from HTX: live order book, 16 min ago; Backpack: live order book, 12 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 HTX live order book, 16 min ago	27.13 bp	44.1 bp −$44	94.3 bp −$943	doesn't fit	doesn't fit
Sell Backpack live order book, 12 min ago	1.80 bp	9.8 bp −$10	52.2 bp −$522	doesn't fit	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	11.030	−0.787%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0020%	1h	11.116	−0.013%	$5.2M	$7.9M	25x	as long as short
Nado AVAX-PERP	−0.0012%	1h	11.117	−0.004%	$286K	$394K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.111	−0.063%	$97K	$97K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.121	+0.031%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.118	+0.001%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.122	+0.040%	$16K	$582K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.114	−0.032%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.125	+0.068%	$2.3M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.116	−0.010%	$290K	$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	11.121	+0.033%	$118.3M	$427.6M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.122	+0.040%	$88.4M	$137.6M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.127	+0.085%	$20.3M	$116.2M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.122	+0.040%	$12.2M	$34.0M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.124	+0.058%	$48.2M	$77.5M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.124	+0.058%	$15.8M	$21.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.126	+0.076%	$33.4M	$48.1M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.125	+0.067%	—	$79.9M	—	as long as short
Backpack AVAX_USDC_PERPshort	+0.0100%	1h	11.127	+0.085%	$336K	$524K	15x
Variational Omni AVAX	+0.0100%	8h	11.091	−0.242%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.100	−0.158%	$354K	$835K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.100	−0.157%	$178K	$673K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.127	+0.085%	$130K	$349K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.125	+0.067%	$195K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.157	+0.352%	$11K	$704K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.118	+0.004%	$19K	$72K	10x	as long as short
HTX AVAX-USDTlong	+0.0100%	8h	11.117	long leg	$366K	$829K	75x
Phemex AVAXUSDT	+0.0100%	8h	11.124	+0.058%	$29.7M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.114	−0.035%	$680K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.114	−0.036%	$255K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0212%	1h	11.120	+0.024%	$4.3M	$11.3M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.116	−0.013%	$5.1M	$5.4M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.129	+0.103%	$890K	$5.3M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.122	+0.038%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.120	+0.026%	$236K	—	120x	as long as short
Hyperliquid AVAX	+0.0668%	1h	11.138	+0.184%	$43.4M	$42.3M	10x	as long as short