Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.001%

Price spread now: BingX against Lighter−0.006%7-day average +0.016% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$210.205% of the position

Long on Lighter Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.139%+$14 on $10k

Price spread, last 7 days+0.137%+$14 · spread now −0.006%, 7d avg +0.016%

Together, before fees+0.276%+ Points / potential airdropLighter: Season 3 · farm board+$28 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: BingX is 0.023% cheaper against Lighter than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter AVAX	11.150	0.0096	pay 0.0012% / 1h	7m 42s	$1.2M	$2.9M	10x
Short	BingX AVAX-USDT	11.149	0.0100	get 0.0100% / 8h	5h 07m	—	$81.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Lighter. 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 LighterbpFee BingXbpOrdersPrice spread, now −0.006%Rate

Funding earned: $0.84
Price spread: −0.006% → +0.016%: −$2.26
Slippage, 4 orders: −$10.51
Fee Lighter: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$21.93
Costs to cover: 0.205%
Break-even: 189.8 days

Slippage from Lighter: live order book, 5 min ago; BingX: live order book, 11 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 Lighter live order book, 5 min ago	3.95 bp	4.0 bp −$4	9.9 bp −$99	84.6 bp −$8,460	doesn't fit
Sell BingX live order book, 11 min ago	0.89 bp	6.4 bp −$6	7.6 bp −$76	11.5 bp −$1,150	26.4 bp −$13.2K

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	−0.1374%	1h	11.120	−0.266%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0109%	1h	11.153	+0.030%	$5.2M	$7.9M	25x	as long as short
Nado AVAX-PERP	−0.0067%	1h	11.154	+0.039%	$287K	$397K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.155	+0.045%	$103K	$87K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.155	+0.048%	$13K	—	150x	as long as short
Kraken Futures PF_AVAXUSD	+0.0045%	1h	11.158	+0.075%	$4.3M	$11.5M	50x	as long as short
Lighter AVAXlong	+0.0096%	1h	11.150	long leg	$1.2M	$2.9M	10x
Popdex AVAXUSDT	+0.0096%	1h	11.153	+0.030%	$16K	$564K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.149	−0.003%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.153	+0.032%	$2.3M	$1.2M	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	11.154	+0.037%	$291K	$114K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.150	+0.003%	$119.2M	$430.6M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.149	−0.006%	$88.5M	$137.9M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.151	+0.012%	$20.4M	$116.9M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.149	−0.006%	$12.2M	$35.1M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.150	+0.003%	$48.9M	$79.6M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.152	+0.021%	$15.8M	$21.9M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.146	−0.033%	$33.5M	$48.4M	75x	as long as short
BingX AVAX-USDTshort	+0.0100%	8h	11.149	−0.006%	—	$81.4M	—
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.154	+0.039%	$330K	$523K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.144	−0.048%	$2.9M	$2.3M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.152	+0.024%	$354K	$822K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.178	+0.254%	$180K	$675K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.155	+0.048%	$131K	$349K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.162	+0.110%	$196K	$312K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.180	+0.274%	$12K	$702K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.155	+0.048%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.152	+0.023%	$366K	$866K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.157	+0.065%	$29.8M	$5.7M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.147	−0.020%	$684K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.147	−0.024%	$256K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.139	−0.096%	$5.1M	$5.5M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.155	+0.048%	$894K	$5.4M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.150	+0.003%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.155	+0.047%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0595%	1h	11.169	+0.173%	$43.6M	$42.4M	10x	as long as short