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 −0.003%

Price spread now: Bitget against Phemex−0.099%7-day average −0.059% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$470.470% of the position

Long on Phemex Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.009%−$1 on $10k

Price spread, last 3 days (all we have)+0.171%+$17 · spread now −0.099%, 7d avg −0.059%

Together, before fees+0.162%+$16 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: Bitget is 0.040% cheaper against Phemex than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.059%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AVAXUSDT	11.110	0.0100	pay 0.0100% / 8h	6h 43m	$29.7M	$5.4M	50x
Short	Bitget AVAXUSDT	11.099	0.0100	get 0.0100% / 8h	6h 43m	$33.4M	$52.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.099%Rate

Funding earned: $0
Price spread: −0.099% → −0.059%: −$3.98
Slippage, 4 orders: −$23.01
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$50.98
Costs to cover: 0.470%
Break-even: never at this rate

Slippage from Phemex: live order book, 6 min ago; Bitget: live order book, 1 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, 6 min ago	1.80 bp	14.4 bp −$14	24.0 bp −$240	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	0.45 bp	8.7 bp −$9	13.0 bp −$130	31.2 bp −$3,125	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	11.070	−0.360%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0049%	1h	11.114	+0.041%	$288K	$525K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0020%	1h	11.108	−0.018%	$5.2M	$8.3M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.124	+0.129%	$102K	$105K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.114	+0.038%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0080%	8h	11.108	−0.018%	$12.1M	$36.5M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.109	−0.007%	$1.2M	$3.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.117	+0.063%	$18K	$599K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.121	+0.096%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.111	+0.005%	$2.3M	$1.4M	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	11.121	+0.096%	$295K	$107K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.095	−0.138%	$118.3M	$471.3M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.091	−0.171%	$88.3M	$146.1M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.086	−0.216%	$19.8M	$126.7M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.111	+0.009%	$49.5M	$82.2M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.111	+0.009%	$15.5M	$22.9M	75x	as long as short
Bitget AVAXUSDTshort	+0.0100%	8h	11.099	−0.099%	$33.4M	$52.4M	75x
BingX AVAX-USDC	+0.0100%	8h	11.100	−0.090%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.102	−0.072%	$355K	$548K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.094	−0.146%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.085	−0.224%	$352K	$807K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.113	+0.027%	$179K	$682K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.116	+0.054%	$130K	$369K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.115	+0.045%	$195K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.142	+0.286%	$12K	$721K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.108	−0.018%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.111	+0.014%	$361K	$939K	75x	as long as short
Phemex AVAXUSDTlong	+0.0100%	8h	11.110	long leg	$29.7M	$5.4M	50x
Extended AVAX-USD	+0.0104%	1h	11.105	−0.043%	$668K	$2.0M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.111	+0.008%	$255K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.117	+0.063%	$5.0M	$6.0M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.110	+0.003%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.112	+0.015%	$4.3M	$12.2M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0288%	1h	11.126	+0.144%	$910K	$6.1M	50x	as long as short
Hyperliquid AVAX	+0.0424%	1h	11.113	+0.030%	$43.3M	$48.1M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.114	+0.033%	$236K	—	120x	as long as short