Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0404%/8h= +44.3% APRpaid last 24h +0.006%

Price spread now: BloFin against Kraken Futures−0.005%57s7-day average −0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs−$10as 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−$360.365% of the position

Long on Kraken Futures Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.264%+$26 on $10k

Price spread, last 4 days (all we have)−0.017%−$2 · spread now −0.005%, 7d avg −0.038%

Together, before fees+0.247%+$25 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and BloFin is 0.033% dearer against Kraken Futures than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.038%. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.264% in total (about 13.8% 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	Kraken Futures PF_AVAXUSD	10.714	−0.0184	get 0.0023% / 1h	3m 47s	$3.8M	$11.6M	50x
Short	BloFin AVAX-USDT	10.713	0.0220	get 0.0220% / 8h	3m 47s	$4.7M	$5.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Kraken Futures. 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 Kraken FuturesbpFee BloFinbpOrdersPrice spread, now −0.005%Rate

Funding earned: $84.88
Price spread: −0.005% → −0.038%: $3.29
Slippage, 4 orders: −$14.48
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $51.7
Costs to cover: 0.365%
Break-even: 2.7 days

Slippage from Kraken Futures: live order book, 5 min ago; BloFin: live order book, 5 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 Kraken Futures live order book, 5 min ago	1.87 bp	7.6 bp −$8	14.4 bp −$144	42.1 bp −$4,207	doesn't fit
Sell BloFin live order book, 5 min ago	1.40 bp	9.0 bp −$9	13.1 bp −$131	29.8 bp −$2,977	81.0 bp −$40.5K

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
Nado AVAX-PERP	−0.0208%	1h	10.710	−0.038%	$289K	$326K	10x	as long as short
Kraken Futures PF_AVAXUSDlong	−0.0184%	1h	10.714	long leg	$3.8M	$11.6M	50x
Variational Omni AVAX	−0.0077%	8h	10.707	−0.061%	$2.9M	$2.1M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.713	−0.007%	$91K	$111K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.713	−0.005%	$4.8M	$6.7M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.712	−0.018%	$12K	—	150x	as long as short
Gate AVAX_USDT	+0.0010%	8h	10.708	−0.052%	$13.3M	$30.9M	75x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	+0.433%	$17K	$151K	12x	as long as short
Paradex AVAX-USD-PERP	+0.0092%	8h	10.713	−0.003%	$12K	$212	20x	as long as short
Lighter AVAX	+0.0096%	1h	10.709	−0.043%	$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	10.710	−0.033%	$25K	$465K	50x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.722	+0.079%	$36.8M	$40.6M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.710	−0.031%	$2.2M	$888K	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.719	+0.055%	$269K	$128K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.712	−0.015%	$113.4M	$403.4M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.713	−0.005%	$81.9M	$139.0M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.712	−0.015%	$18.8M	$107.0M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.709	−0.043%	$52.9M	$80.9M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.709	−0.043%	$13.8M	$21.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.713	−0.005%	$32.7M	$46.3M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.713	−0.005%	—	$53.3M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.713	−0.005%	$436K	$547K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.716	+0.027%	$337K	$1.2M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.719	+0.051%	$173K	$662K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.710	−0.033%	$134K	$297K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.717	+0.032%	$232K	$254K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.742	+0.261%	$12K	$770K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.709	−0.043%	$18K	$68K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.710	−0.038%	$326K	$857K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.709	−0.043%	$28.6M	$5.7M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.706	−0.071%	$605K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.705	−0.081%	$246K	—	3x	as long as short
BloFin AVAX-USDTshort	+0.0220%	8h	10.713	−0.005%	$4.7M	$5.4M	100x
Coinbase International AVAX-PERP-INTX	+0.0224%	1h	10.719	+0.051%	$851K	$4.7M	50x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.707	−0.065%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0443% / S −0.0294%	1h	10.711	−0.025%	$226K	—	120x	as long as short