Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.046%

Price spread now: Extended against Phemex+0.025%7-day average −0.092% · 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−$26as in the Price arb table

costs, in and out, $10k−$380.376% of the position

Long on Phemex Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.095%−$9 on $10k

Price spread, last 3 days (all we have)+0.032%+$3 · spread now +0.025%, 7d avg −0.092%

Together, before fees−0.063%+ Points / potential airdropExtended: Active · farm board−$6 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: Extended is 0.117% dearer against Phemex than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.092%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AVAXUSDT	11.237	0.0100	pay 0.0100% / 8h	1h 03m	$30.2M	$5.0M	50x
Short	Extended AVAX-USD	11.240	0.0104	get 0.0013% / 1h	3m 51s	$669K	$2.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Phemex. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ExtendedbpOrdersPrice spread, now +0.025%Rate

Funding earned: $0.84
Price spread: +0.025% → −0.092%: $11.7
Slippage, 4 orders: −$20.57
Fee Phemex: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$25.04
Costs to cover: 0.376%
Break-even: 215.7 days

Slippage from Phemex: live order book, 5 min ago; Extended: live order book, 5 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	1.33 bp	14.9 bp −$15	24.3 bp −$243	doesn't fit	doesn't fit
Sell Extended live order book, 5 min ago	0.44 bp	4.6 bp −$5	6.3 bp −$63	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	−0.0570%	1h	11.170	−0.596%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0106%	1h	11.234	−0.027%	$5.3M	$9.1M	25x	as long as short
Nado AVAX-PERP	−0.0046%	1h	11.237	0.000%	$296K	$892K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.237	+0.002%	$103K	$111K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.237	−0.001%	$13K	—	150x	as long as short
Variational Omni AVAX	+0.0027%	8h	11.231	−0.054%	$3.0M	$2.4M	—	as long as short
Lighter AVAX	+0.0096%	1h	11.237	−0.003%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.241	+0.036%	$17K	$686K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0099%	8h	11.238	+0.008%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.241	+0.033%	$2.3M	$1.8M	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	11.241	+0.032%	$299K	$120K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.242	+0.043%	$120.3M	$524.3M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.240	+0.027%	$89.3M	$157.3M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.240	+0.027%	$20.2M	$146.1M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.242	+0.044%	$12.5M	$40.8M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.241	+0.036%	$51.3M	$100.4M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.243	+0.053%	$15.8M	$24.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.242	+0.044%	$34.3M	$59.9M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.242	+0.044%	—	$6.6M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.238	+0.009%	$359K	$568K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.242	+0.040%	$359K	$877K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.238	+0.009%	$180K	$686K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.239	+0.018%	$134K	$459K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.244	+0.062%	$202K	$301K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.270	+0.291%	$12K	$735K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.235	−0.018%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.235	−0.022%	$363K	$1.1M	75x	as long as short
Phemex AVAXUSDTlong	+0.0100%	8h	11.237	long leg	$30.2M	$5.0M	50x
Extended AVAX-USDshort	+0.0104%	1h	11.240	+0.025%	$669K	$2.2M	25x
Aevo AVAX-PERP	+0.0104%	1h	11.237	−0.001%	$258K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0192%	1h	11.238	+0.009%	$910K	$8.2M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.227	−0.089%	$5.0M	$8.0M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.234	−0.031%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0412% / S −0.0261%	1h	11.236	−0.009%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0579%	1h	11.256	+0.169%	$43.5M	$56.7M	10x	as long as short
Kraken Futures PF_AVAXUSD	+0.0629%	1h	11.241	+0.039%	$4.6M	$13.5M	50x	as long as short