Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.010%

Price spread now: Phemex against OKX+0.198%7-day average +0.062% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$520.522% of the position

Long on OKX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.049%+$5 on $10k

Price spread, last 3 days (all we have)−0.294%−$29 · spread now +0.198%, 7d avg +0.062%

Together, before fees−0.245%−$24 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: Phemex is 0.135% dearer against OKX than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of +0.062%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX AVAX-USDT-SWAP	11.130	0.0100	pay 0.0100% / 8h	7h 50m	$20.1M	$138.7M	50x
Short	Phemex AVAXUSDT	11.152	0.0100	get 0.0100% / 8h	7h 50m	$30.0M	$4.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against OKX. 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 OKXbpFee PhemexbpOrdersPrice spread, now +0.198%Rate

Funding earned: $0
Price spread: +0.198% → +0.062%: $13.53
Slippage, 4 orders: −$30.21
Fee OKX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$38.67
Costs to cover: 0.522%
Break-even: never at this rate

Slippage from OKX: live order book, 3 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 OKX live order book, 3 min ago	0.45 bp	7.4 bp −$7	17.3 bp −$173	74.9 bp −$7,490	doesn't fit
Sell Phemex live order book, 3 min ago	5.36 bp	17.2 bp −$17	26.9 bp −$269	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	11.110	−0.180%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0109%	1h	11.149	+0.171%	$5.3M	$8.8M	25x	as long as short
Nado AVAX-PERP	−0.0004%	1h	11.155	+0.225%	$293K	$860K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.140	+0.091%	$103K	$105K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.155	+0.223%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0088%	8h	11.133	+0.027%	$12.2M	$37.9M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.139	+0.076%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.155	+0.225%	$18K	$647K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.134	+0.032%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.145	+0.137%	$2.3M	$1.7M	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	11.141	+0.099%	$296K	$118K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.136	+0.054%	$119.0M	$503.5M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.137	+0.063%	$88.7M	$152.7M	75x	as long as short
OKX AVAX-USDT-SWAPlong	+0.0100%	8h	11.130	long leg	$20.1M	$138.7M	50x
MEXC AVAX_USDT	+0.0100%	8h	11.139	+0.081%	$48.9M	$88.0M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.143	+0.117%	$15.6M	$24.0M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.133	+0.027%	$33.7M	$56.8M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.132	+0.018%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.142	+0.108%	$356K	$565K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.152	+0.196%	$3.0M	$2.3M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.192	+0.558%	$361K	$863K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.196	+0.593%	$180K	$689K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.156	+0.234%	$131K	$440K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.161	+0.279%	$198K	$303K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.185	+0.492%	$12K	$734K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.150	+0.180%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.158	+0.248%	$360K	$980K	75x	as long as short
Phemex AVAXUSDTshort	+0.0100%	8h	11.152	+0.198%	$30.0M	$4.9M	50x
Extended AVAX-USD	+0.0104%	1h	11.131	+0.010%	$666K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.153	+0.211%	$256K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0216%	1h	11.154	+0.213%	$4.5M	$12.9M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.148	+0.162%	$5.0M	$6.7M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.151	+0.192%	$1K	—	20x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0304%	1h	11.176	+0.413%	$904K	$7.3M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0260%	1h	11.155	+0.220%	$249K	—	120x	as long as short
Hyperliquid AVAX	+0.0643%	1h	11.156	+0.235%	$43.5M	$53.6M	10x	as long as short