Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0171%/8h= +18.8% APRpaid last 24h +0.014%

Price spread now: Phemex against Nado+0.013%7-day average +0.022% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$510.509% of the position

Long on Nado Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.020%+$2 on $10k

Price spread, last 3 days (all we have)−0.093%−$9 · spread now +0.013%, 7d avg +0.022%

Together, before fees−0.073%+ Points / potential airdropNado: Active · farm board−$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.022%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado AVAX-PERP	11.128	−0.0071	get 0.0009% / 1h	1m 33s	$292K	$630K	10x
Short	Phemex AVAXUSDT	11.130	0.0100	get 0.0100% / 8h	7h 01m	$29.8M	$5.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.013%Rate

Funding earned: $36.01
Price spread: +0.013% → +0.022%: −$0.84
Slippage, 4 orders: −$31.94
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$15.76
Costs to cover: 0.509%
Break-even: 10.1 days

Slippage from Nado: live order book, 7 min ago; Phemex: 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, 7 min ago	0.89 bp	9.5 bp −$10	21.3 bp −$213	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	4.93 bp	14.7 bp −$15	24.2 bp −$242	doesn't fit	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
Injective AVAX/USDC PERP	−0.1363%	1h	11.100	−0.256%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0109%	1h	11.127	−0.013%	$5.2M	$8.4M	25x	as long as short
Nado AVAX-PERPlong	−0.0071%	1h	11.128	long leg	$292K	$630K	10x
dYdX AVAX-USD	0.0000%	1h	11.129	+0.001%	$102K	$105K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.136	+0.071%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.127	−0.018%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.116	−0.112%	$15K	$600K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.119	−0.084%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.129	+0.007%	$2.3M	$1.4M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.130	+0.013%	$296K	$107K	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	11.117	−0.103%	$118.5M	$474.0M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.117	−0.103%	$88.4M	$146.8M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.119	−0.085%	$19.8M	$128.9M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.124	−0.040%	$12.1M	$38.6M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.124	−0.040%	$49.5M	$89.6M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.130	+0.013%	$15.3M	$23.0M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.116	−0.112%	$33.7M	$53.0M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.118	−0.094%	—	$83.9M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.127	−0.013%	$356K	$550K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.188	+0.539%	$3.0M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.191	+0.562%	$353K	$847K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.164	+0.319%	$179K	$688K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.136	+0.067%	$131K	$370K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.140	+0.103%	$196K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.166	+0.335%	$12K	$719K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.127	−0.013%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.120	−0.073%	$362K	$943K	75x	as long as short
Phemex AVAXUSDTshort	+0.0100%	8h	11.130	+0.013%	$29.8M	$5.1M	50x
Extended AVAX-USD	+0.0104%	1h	11.114	−0.132%	$671K	$2.0M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.129	+0.006%	$256K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0216%	1h	11.131	+0.021%	$4.3M	$12.4M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.155	+0.238%	$5.0M	$6.1M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.134	+0.047%	$1K	—	20x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0304%	1h	11.137	+0.076%	$900K	$6.3M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0297%	1h	11.136	+0.069%	$235K	—	120x	as long as short
Hyperliquid AVAX	+0.0655%	1h	11.142	+0.121%	$43.5M	$49.0M	10x	as long as short