AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0079%/8h= +8.7% APRnext payment +$0.10 per $10,000 · paid last 24h +0.035%

Price spread now: Backpack against Nado−0.073%7-day average +0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$360.359% of the position

Long on Nado Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.167%−$17 · spread now −0.073%, 7d avg +0.005%

Together, before fees−0.169%+ Points / potential airdropNado: Active · farm board−$17 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.078% cheaper against Nado than usual: you would sell low and buy high (spread −0.073% now, against its 7-day average of +0.005%). If the spread goes back, that is −$8 on $10k: about 3.3 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado AVAX-PERP	10.897	0.0021	pay 0.0003% / 1h	49m 26s	$280K	$257K	10x
Short	Backpack AVAX_USDC_PERP	10.889	0.0100	get 0.0013% / 1h	49m 26s	$391K	$566K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Nado. 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 NadobpFee BackpackbpOrdersPrice spread, now −0.073%Rate

Funding earned: $16.63
Price spread: −0.073% → +0.005%: −$7.82
Slippage, 4 orders: −$18.89
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$27.08
Costs to cover: 0.359%
Break-even: 18.4 days

Slippage from Nado: live order book, 56 min ago; Backpack: live order book, 57 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 Nado live order book, 56 min ago	1.38 bp	9.0 bp −$9	18.6 bp −$186	doesn't fit	doesn't fit
Sell Backpack live order book, 57 min ago	0.46 bp	8.0 bp −$8	38.8 bp −$388	doesn't fit	doesn't fit

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	−0.0169%	8h	10.886	−0.104%	$3.1M	$1.9M	—	as long as short
Polymarket Perps AVAX-USD	−0.0146%	1h	10.878	−0.174%	$60K	$354K	10x	as long as short
Gate AVAX_USDT	−0.0126%	8h	10.883	−0.128%	$14.9M	$24.8M	75x	as long as short
Kraken Futures PF_AVAXUSD	−0.0114%	1h	10.893	−0.038%	$3.8M	$10.4M	50x	as long as short
Bybit AVAXUSDT	−0.0098%	8h	10.884	−0.119%	$84.9M	$128.4M	75x	as long as short
Phemex AVAXUSDT	−0.0019%	8h	10.883	−0.128%	$29.0M	$5.5M	50x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.886	−0.100%	$93K	$100K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.899	+0.018%	$5.0M	$6.5M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0002%	1h	10.864	−0.307%	$24K	—	150x	as long as short
Nado AVAX-PERPlong	+0.0021%	1h	10.897	long leg	$280K	$257K	10x

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX AVAX-USD	+0.0031%	1h	10.896	−0.009%	$19K	$65K	10x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	−1.257%	$17K	$151K	12x	as long as short
OKX AVAX-USDT-SWAP	+0.0044%	8h	10.884	−0.119%	$19.3M	$98.0M	50x	as long as short
Paradex AVAX-USD-PERP	+0.0092%	8h	10.878	−0.175%	$12K	$62	20x	as long as short
MEXC AVAX_USDT	+0.0092%	8h	10.881	−0.147%	$53.8M	$66.6M	200x	as long as short
Binance AVAXUSDT	+0.0093%	8h	10.892	−0.046%	$114.8M	$358.8M	75x	as long as short
Lighter AVAX	+0.0096%	1h	10.880	−0.153%	$1.2M	$1.7M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.889	−0.073%	$24K	$427K	50x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.886	−0.104%	$2.2M	$1.2M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.887	−0.093%	$274K	$86K	10x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.887	−0.092%	$14.3M	$18.1M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.889	−0.073%	$33.2M	$41.6M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.858	−0.358%	—	$38.0M	—	as long as short
Backpack AVAX_USDC_PERPshort	+0.0100%	1h	10.889	−0.073%	$391K	$566K	15x
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.897	0.000%	$341K	$1.6M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.896	−0.009%	$155K	$680K	50x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.904	+0.064%	$239K	$211K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.919	+0.202%	$12K	$772K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.889	−0.078%	$328K	$897K	75x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.877	−0.181%	$621K	$1.3M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.893	−0.034%	$250K	—	3x	as long as short
Hyperliquid AVAX	+0.0154%	1h	10.899	+0.018%	$36.4M	$33.2M	10x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0208%	1h	10.902	+0.046%	$851K	$4.8M	50x	as long as short
BloFin AVAX-USDT	+0.0214%	8h	10.884	−0.119%	$4.7M	$5.2M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.877	−0.182%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0464% / S −0.0317%	1h	10.869	−0.260%	$241K	—	120x	as long as short