Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.007%

Price spread now: ApeX Omni against Phemex−0.130%7-day average +0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$620.616% of the position

Long on Phemex Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.042%+$4 on $10k

Price spread, last 4 days (all we have)+0.202%+$20 · spread now −0.130%, 7d avg +0.005%

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: ApeX Omni is 0.135% cheaper against Phemex than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of +0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AVAXUSDT	10.737	0.0100	pay 0.0100% / 8h	2h 04m	$28.7M	$5.8M	50x
Short	ApeX Omni AVAXUSDT	10.723	0.0100	get 0.0013% / 1h	4m 34s	$173K	$662K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Phemex. 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 PhemexbpFee ApeX OmnibpOrdersPrice spread, now −0.130%Rate

Funding earned: $0
Price spread: −0.130% → +0.005%: −$13.54
Slippage, 4 orders: −$39.63
Fee Phemex: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$75.17
Costs to cover: 0.616%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; ApeX Omni: live order book, 44 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 Phemex live order book, 5 min ago	5.13 bp	13.0 bp −$13	33.1 bp −$331	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 44 min ago	5.66 bp	13.3 bp −$13	76.0 bp −$760	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	−0.1423%	1h	10.760	+0.214%	$17K	$152K	12x	as long as short
Kraken Futures PF_AVAXUSD	−0.0278%	1h	10.737	0.000%	$4.2M	$11.5M	50x	as long as short
Nado AVAX-PERP	−0.0099%	1h	10.739	+0.019%	$285K	$338K	10x	as long as short
Variational Omni AVAX	−0.0030%	8h	10.729	−0.078%	$2.8M	$2.1M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.740	+0.027%	$89K	$117K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.734	−0.028%	$4.8M	$7.5M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.735	−0.018%	$12K	—	150x	as long as short
Gate AVAX_USDT	+0.0042%	8h	10.735	−0.019%	$12.6M	$33.1M	75x	as long as short
Bybit AVAXUSDT	+0.0083%	8h	10.737	0.000%	$82.5M	$149.0M	75x	as long as short
Lighter AVAX	+0.0096%	1h	10.738	+0.013%	$1.2M	$2.6M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex AVAXUSDT	+0.0096%	1h	10.736	−0.009%	$18K	$431K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0097%	8h	10.739	+0.020%	$12K	$212	20x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.749	+0.112%	$37.7M	$44.7M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.736	−0.014%	$2.2M	$1.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.739	+0.019%	$269K	$131K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.735	−0.019%	$114.5M	$433.5M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.735	−0.019%	$18.8M	$114.4M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.739	+0.019%	$45.7M	$81.1M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.735	−0.019%	$13.3M	$23.0M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.736	−0.009%	$32.5M	$49.4M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.736	−0.009%	—	$54.4M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.738	+0.009%	$429K	$589K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.721	−0.150%	$335K	$999K	10x	as long as short
ApeX Omni AVAXUSDTshort	+0.0100%	1h	10.723	−0.130%	$173K	$662K	50x
Polymarket Perps AVAX-USD	+0.0100%	1h	10.740	+0.028%	$136K	$354K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.738	+0.009%	$231K	$340K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.764	+0.251%	$11K	$767K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.733	−0.037%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.732	−0.042%	$345K	$879K	75x	as long as short
Phemex AVAXUSDTlong	+0.0100%	8h	10.737	long leg	$28.7M	$5.8M	50x
Extended AVAX-USD	+0.0104%	1h	10.732	−0.047%	$615K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.730	−0.065%	$246K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0216%	1h	10.750	+0.121%	$935K	$5.2M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.735	−0.019%	$4.6M	$5.7M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.735	−0.016%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0295%	1h	10.738	+0.011%	$227K	—	120x	as long as short