Funding arb · Price arb /

AVAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.1523%/8h= +166.7% APRpaid last 24h +0.177%

Price spread now: BingX against Injective+0.516%7-day average — · you sell dearer than you buy

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$1001.002% of the position

Long on Injective Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.372%+$37 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$46 a day on $10k at the current rate, and BingX is 0.516% dearer against Injective than usual: you sell high and buy low: +$52 more if the spread goes back to zero (this spread has no 7-day history yet).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.372% in total (about 19.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective AVAX/USDC PERP	11.050	−0.1423	get 0.0178% / 1h	47m 19s	$17K	$151K	12x
Short	BingX AVAX-USDT	11.107	0.0100	get 0.0100% / 8h	6h 47m	—	$83.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Injective. 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 InjectivebpFee BingXbpOrdersPrice spread, now +0.516%Rate

Funding earned: $319.77
Price spread: +0.516% → 0.000%: $51.58
Slippage, 4 orders: −$90.18
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BingX: 5 bp × 2 orders: −$10
Net: $271.16
Costs to cover: 1.002%
Break-even: 1.1 days

Slippage from Injective: live order book, 21 min ago; BingX: live order book, 7 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 Injective live order book, 21 min ago	35.75 bp	53.5 bp −$54	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 7 min ago	0.45 bp	5.5 bp −$5	5.5 bp −$55	7.9 bp −$794	40.0 bp −$20.0K

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 PERPlong	−0.1423%	1h	11.050	long leg	$17K	$151K	12x
Deribit AVAX_USDC-PERPETUAL	−0.0110%	1h	11.095	+0.407%	$5.2M	$8.3M	25x	as long as short
Nado AVAX-PERP	−0.0018%	1h	11.105	+0.502%	$288K	$525K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.101	+0.459%	$102K	$105K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.106	+0.509%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0078%	8h	11.106	+0.507%	$12.1M	$36.4M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.103	+0.480%	$1.2M	$3.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.109	+0.534%	$18K	$601K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.110	+0.546%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.104	+0.492%	$2.3M	$1.4M	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	11.103	+0.482%	$295K	$107K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.104	+0.489%	$118.2M	$471.5M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.104	+0.489%	$88.4M	$146.1M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.105	+0.498%	$19.8M	$127.3M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.105	+0.498%	$48.6M	$82.0M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.111	+0.552%	$15.5M	$22.9M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.100	+0.452%	$33.4M	$52.5M	75x	as long as short
BingX AVAX-USDTshort	+0.0100%	8h	11.107	+0.516%	—	$83.5M	—
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.108	+0.525%	$355K	$548K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.107	+0.514%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.127	+0.697%	$353K	$807K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.129	+0.715%	$179K	$682K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.110	+0.543%	$130K	$369K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.111	+0.552%	$195K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.139	+0.805%	$12K	$721K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.102	+0.471%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.096	+0.417%	$361K	$939K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.105	+0.498%	$29.7M	$5.4M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.095	+0.405%	$668K	$2.0M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.093	+0.386%	$255K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.117	+0.606%	$5.0M	$6.0M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.105	+0.496%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.105	+0.496%	$4.3M	$12.2M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0288%	1h	11.108	+0.525%	$910K	$6.1M	50x	as long as short
Hyperliquid AVAX	+0.0421%	1h	11.122	+0.652%	$43.3M	$48.0M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.106	+0.507%	$236K	—	120x	as long as short