Funding arb · Price arb /

AVAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0265%/8h= +29.0% APRpaid last 24h +0.025%

Price spread now: Bitget against Nado−0.014%7-day average −0.043% · 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−$32as in the Price arb table

costs, in and out, $10k−$350.347% of the position

Long on Nado Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.031%+$3 on $10k

Price spread, last 4 days (all we have)−0.875%−$88 · spread now −0.014%, 7d avg −0.043%

Together, before fees−0.844%+ Points / potential airdropNado: Active · farm board−$84 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Bitget is 0.029% dearer against Nado than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.043%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.031% in total (about 3.2% 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	Nado AVAX-PERP	10.674	−0.0165	get 0.0021% / 1h	20m 48s	$288K	$329K	10x
Short	Bitget AVAXUSDT	10.673	0.0100	get 0.0100% / 8h	20m 48s	$32.3M	$46.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.014%Rate

Funding earned: $55.71
Price spread: −0.014% → −0.043%: $2.89
Slippage, 4 orders: −$15.74
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: $23.86
Costs to cover: 0.347%
Break-even: 4.0 days

Slippage from Nado: live order book, 17 min ago; Bitget: live order book, 3 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, 17 min ago	0.94 bp	9.2 bp −$9	20.4 bp −$204	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	0.47 bp	8.7 bp −$9	14.7 bp −$147	25.5 bp −$2,546	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	−0.0185%	1h	10.671	−0.029%	$3.8M	$11.6M	50x	as long as short
Nado AVAX-PERPlong	−0.0165%	1h	10.674	long leg	$288K	$329K	10x
Variational Omni AVAX	−0.0077%	8h	10.667	−0.074%	$2.9M	$2.2M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.680	+0.052%	$91K	$111K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.671	−0.033%	$4.8M	$6.8M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.673	−0.011%	$12K	—	150x	as long as short
Gate AVAX_USDT	+0.0006%	8h	10.671	−0.033%	$13.1M	$30.8M	75x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	+0.801%	$17K	$151K	12x	as long as short
Paradex AVAX-USD-PERP	+0.0090%	8h	10.679	+0.044%	$12K	$212	20x	as long as short
Bybit AVAXUSDT	+0.0095%	8h	10.679	+0.042%	$81.5M	$139.6M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AVAX	+0.0096%	1h	10.677	+0.023%	$1.2M	$2.4M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.672	−0.023%	$25K	$467K	50x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.682	+0.070%	$36.7M	$41.7M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.676	+0.018%	$2.2M	$896K	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.682	+0.072%	$268K	$129K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.679	+0.042%	$112.8M	$406.9M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.681	+0.061%	$18.7M	$107.7M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.678	+0.033%	$45.3M	$79.8M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.672	−0.023%	$13.7M	$21.6M	75x	as long as short
Bitget AVAXUSDTshort	+0.0100%	8h	10.673	−0.014%	$32.3M	$46.6M	75x
BingX AVAX-USDT	+0.0100%	8h	10.671	−0.033%	—	$53.6M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.674	−0.005%	$435K	$547K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.674	−0.006%	$335K	$1.1M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.681	+0.061%	$172K	$662K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.674	−0.005%	$134K	$297K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.678	+0.033%	$231K	$255K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.699	+0.230%	$11K	$770K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.669	−0.052%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.672	−0.019%	$325K	$863K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.670	−0.042%	$28.5M	$5.7M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.669	−0.055%	$605K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.667	−0.074%	$245K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.669	−0.052%	$4.6M	$5.4M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0224%	1h	10.668	−0.061%	$847K	$4.7M	50x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.668	−0.063%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0443% / S −0.0294%	1h	10.674	−0.006%	$225K	—	120x	as long as short