Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.303%

Price spread now: SunX against Injective−0.241%7-day average +0.498% · you buy dearer than you sell

Net, funding: paid 7d − costs−$190as in the Funding arb table

Net, price: spread back to 7d avg − costs−$315as in the Price arb table

costs, in and out, $10k−$2412.412% of the position

Long on Injective Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.512%+$51 on $10k

Price spread, last 4 days (all we have)−0.344%−$34 · spread now −0.241%, 7d avg +0.498%

Together, before fees+0.168%+$17 on $10k · with fees, hour by hour

Funding pays, the price is against you. SunX is 0.738% cheaper against Injective than usual: you would sell low and buy high (spread −0.241% now, against its 7-day average of +0.498%). If the spread goes back, that is −$74 on $10k: about 37 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.512% in total) that is about 10 days.

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	17m 09s	$17K	$151K	12x
Short	SunX AVAX-USDT	10.734	0.0100	get 0.0100% / 8h	17m 09s	$12K	$769K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.241%Rate

Funding earned: $14
Price spread: −0.241% → +0.498%: −$73.83
Slippage, 4 orders: −$233.21
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee SunX: 4 bp × 2 orders: −$8
Net: −$301.07
Costs to cover: 2.412%
Break-even: 157.5 days

Slippage from Injective: live order book, 22 min ago; SunX: live order book, 35 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, 22 min ago	28.12 bp	56.1 bp −$56	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 35 min ago	41.88 bp	101.6 bp −$102	doesn't fit	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
Kraken Futures PF_AVAXUSD	−0.0184%	1h	10.713	−0.436%	$3.8M	$11.6M	50x	as long as short
Nado AVAX-PERP	−0.0176%	1h	10.704	−0.525%	$289K	$329K	10x	as long as short
Variational Omni AVAX	−0.0077%	8h	10.667	−0.868%	$2.9M	$2.2M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.706	−0.506%	$91K	$111K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.713	−0.437%	$4.8M	$6.8M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.712	−0.442%	$12K	—	150x	as long as short
Gate AVAX_USDT	+0.0011%	8h	10.710	−0.465%	$13.2M	$30.8M	75x	as long as short
Injective AVAX/USDC PERPlong	+0.0033%	1h	10.760	long leg	$17K	$151K	12x
Paradex AVAX-USD-PERP	+0.0090%	8h	10.704	−0.519%	$12K	$212	20x	as long as short
Lighter AVAX	+0.0096%	1h	10.710	−0.464%	$1.2M	$2.4M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex AVAXUSDT	+0.0096%	1h	10.703	−0.530%	$25K	$468K	50x	as long as short
Bybit AVAXUSDT	+0.0099%	8h	10.715	−0.418%	$81.8M	$139.5M	75x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.723	−0.344%	$36.8M	$41.7M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.715	−0.419%	$2.2M	$896K	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.711	−0.456%	$269K	$128K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.715	−0.418%	$113.3M	$406.6M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.718	−0.390%	$18.8M	$108.0M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.714	−0.428%	$50.7M	$80.6M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.715	−0.418%	$13.8M	$21.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.714	−0.428%	$32.5M	$46.6M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.715	−0.418%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.719	−0.381%	$437K	$547K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.702	−0.538%	$344K	$1.1M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.703	−0.530%	$173K	$661K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.706	−0.502%	$134K	$297K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.719	−0.381%	$232K	$255K	20x	as long as short
SunX AVAX-USDTshort	+0.0100%	8h	10.734	−0.241%	$12K	$769K	20x
SoDEX AVAX-USD	+0.0100%	1h	10.711	−0.455%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.725	−0.322%	$326K	$863K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.713	−0.437%	$28.6M	$5.7M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.706	−0.505%	$605K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.710	−0.460%	$246K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.705	−0.511%	$4.7M	$5.5M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0224%	1h	10.712	−0.446%	$851K	$4.7M	50x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.705	−0.513%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0443% / S −0.0294%	1h	10.711	−0.451%	$226K	—	120x	as long as short