Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.021%

Price spread now: Gate against Lighter−0.033%7-day average +0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$380.384% of the position

Long on Lighter Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.070%+$7 on $10k

Price spread, last 4 days (all we have)+0.017%+$2 · spread now −0.033%, 7d avg +0.015%

Together, before fees+0.087%+ Points / potential airdropLighter: Season 3 · farm board+$9 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: Gate is 0.048% cheaper against Lighter than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter AVAX	11.146	0.0096	pay 0.0012% / 1h	31m 45s	$1.2M	$3.1M	10x
Short	Gate AVAX_USDT	11.142	0.0100	get 0.0100% / 8h	7h 31m	$12.2M	$38.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.033%Rate

Funding earned: $0.84
Price spread: −0.033% → +0.015%: −$4.78
Slippage, 4 orders: −$23.42
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$42.36
Costs to cover: 0.384%
Break-even: 360.0 days

Slippage from Lighter: live order book, 6 min ago; Gate: 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 Lighter live order book, 6 min ago	2.60 bp	3.3 bp −$3	13.1 bp −$131	85.0 bp −$8,501	doesn't fit
Sell Gate live order book, 2 min ago	0.45 bp	16.9 bp −$17	23.3 bp −$233	42.6 bp −$4,261	71.3 bp −$35.6K

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	−0.1363%	1h	11.090	−0.500%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0109%	1h	11.136	−0.087%	$5.3M	$8.6M	25x	as long as short
Nado AVAX-PERP	−0.0051%	1h	11.122	−0.208%	$292K	$831K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.145	−0.009%	$103K	$105K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.131	−0.134%	$13K	—	150x	as long as short
Lighter AVAXlong	+0.0096%	1h	11.146	long leg	$1.2M	$3.1M	10x
Popdex AVAXUSDT	+0.0096%	1h	11.120	−0.231%	$18K	$627K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.117	−0.258%	$13K	$514	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.144	−0.011%	$2.3M	$1.6M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.123	−0.205%	$295K	$106K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AVAXUSDT	+0.0100%	8h	11.147	+0.013%	$118.6M	$487.2M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.148	+0.021%	$88.7M	$149.4M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.147	+0.012%	$19.9M	$134.2M	50x	as long as short
Gate AVAX_USDTshort	+0.0100%	8h	11.142	−0.033%	$12.2M	$38.1M	75x
MEXC AVAX_USDT	+0.0100%	8h	11.143	−0.024%	$48.9M	$88.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.147	+0.012%	$15.3M	$23.3M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.144	−0.015%	$33.8M	$54.9M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.142	−0.033%	—	$85.0M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.141	−0.042%	$356K	$558K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.134	−0.107%	$2.9M	$2.3M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.123	−0.204%	$358K	$851K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.135	−0.096%	$179K	$688K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.128	−0.159%	$131K	$375K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.142	−0.033%	$196K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.153	+0.066%	$12K	$725K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.138	−0.069%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.136	−0.092%	$361K	$951K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.138	−0.069%	$30.0M	$4.9M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.142	−0.036%	$667K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.132	−0.127%	$256K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0216%	1h	11.141	−0.045%	$4.3M	$12.6M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.133	−0.114%	$5.0M	$6.3M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.125	−0.187%	$1K	—	20x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0304%	1h	11.140	−0.051%	$905K	$6.9M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0298%	1h	11.131	−0.128%	$235K	—	120x	as long as short
Hyperliquid AVAX	+0.0682%	1h	11.163	+0.155%	$43.5M	$51.0M	10x	as long as short