Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.238%

Price spread now: MEXC against Injective+0.734%100s7-day average +0.209% · you sell dearer than you buy

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$950.950% of the position

Long on Injective Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.458%+$46 on $10k

Price spread, last 4 days (all we have)−1.457%−$146 · spread now +0.734%, 7d avg +0.209%

Together, before fees−0.998%−$100 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and MEXC is 0.526% dearer against Injective than usual: you sell high and buy low: +$53 more if the spread goes back to its 7-day average of +0.209%. The two prices were read 100 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	Injective AVAX/USDC PERP	10.760	0.0033	pay 0.0004% / 1h	49m 41s	$17K	$151K	12x
Short	MEXC AVAX_USDT	10.839	0.0100	get 0.0100% / 8h	5h 49m	$52.4M	$69.4M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.734%Rate

Funding earned: $14
Price spread: +0.734% → +0.209%: $52.56
Slippage, 4 orders: −$95.02
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee MEXC: 0 bp × 2 orders: $0
Net: −$28.48
Costs to cover: 0.950%
Break-even: 21.2 days

Slippage from Injective: live order book, 62 min ago; MEXC: 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 Injective live order book, 62 min ago	32.42 bp	60.1 bp −$60	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	0.46 bp	2.1 bp −$2	4.6 bp −$46	33.3 bp −$3,325	97.4 bp −$48.7K

AVAX on 36 exchanges

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
Variational Omni AVAX	−0.0145%	8h	10.831	+0.657%	$3.0M	$2.1M	—	as long as short
Gate AVAX_USDT	−0.0120%	8h	10.840	+0.743%	$14.5M	$26.7M	75x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0119%	1h	10.843	+0.771%	$5.0M	$6.6M	25x	as long as short
SoDEX AVAX-USD	−0.0081%	1h	10.840	+0.743%	$18K	$67K	10x	as long as short
Kraken Futures PF_AVAXUSD	−0.0056%	1h	10.845	+0.791%	$3.7M	$10.9M	50x	as long as short
Bybit AVAXUSDT	−0.0054%	8h	10.837	+0.716%	$84.5M	$131.4M	75x	as long as short
Phemex AVAXUSDT	−0.0013%	8h	10.842	+0.762%	$28.9M	$5.6M	50x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.846	+0.803%	$92K	$100K	10x	as long as short
Nado AVAX-PERP	+0.0001%	1h	10.842	+0.767%	$275K	$299K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0002%	1h	10.884	+1.152%	$23K	—	150x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective AVAX/USDC PERPlong	+0.0033%	1h	10.760	long leg	$17K	$151K	12x
OKX AVAX-USDT-SWAP	+0.0091%	8h	10.837	+0.716%	$19.3M	$101.8M	50x	as long as short
Lighter AVAX	+0.0096%	1h	10.841	+0.749%	$1.2M	$1.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.840	+0.743%	$23K	$438K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0099%	8h	10.836	+0.711%	$12K	$62	20x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.855	+0.883%	$36.2M	$37.6M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.841	+0.748%	$2.2M	$1.3M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.842	+0.762%	$273K	$105K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.840	+0.745%	$114.5M	$372.9M	75x	as long as short
MEXC AVAX_USDTshort	+0.0100%	8h	10.839	+0.734%	$52.4M	$69.4M	200x
KuCoin AVAXUSDTM	+0.0100%	8h	10.843	+0.771%	$14.1M	$18.9M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.836	+0.706%	$33.0M	$43.2M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.840	+0.743%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.846	+0.799%	$438K	$521K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.881	+1.122%	$342K	$1.5M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.882	+1.134%	$175K	$660K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.846	+0.799%	$137K	$247K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.851	+0.846%	$235K	$217K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.876	+1.074%	$12K	$774K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.840	+0.742%	$325K	$944K	75x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.834	+0.687%	$617K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.838	+0.721%	$249K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0208%	1h	10.848	+0.818%	$859K	$5.1M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.837	+0.716%	$4.8M	$5.2M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.832	+0.673%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0294%	1h	10.856	+0.892%	$229K	—	120x	as long as short