Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0049%/8h= +5.3% APRpaid last 24h −0.021%

Price spread now: gTrade (Gains Network) against Phemex−0.033%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. gTrade (Gains Network) is 0.033% cheaper against Phemex than usual: you would sell low and buy high (spread −0.033% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 2.3 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AVAXUSDT	10.914	−0.0047	get 0.0047% / 8h	5h 02m	$29.1M	$5.5M	50x
Short	gTrade (Gains Network) AVAX/USD	10.910	L +0.0002% / S −0.0002%	get 0.0000% / 1h	2m 52s	$24K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.033%Rate

Funding earned: $10.24
Price spread: −0.033% → 0.000%: −$3.3
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$15.06
Costs to cover: 0.220%
Break-even: 17.3 days

Slippage unknown: Phemex: live order book, 4 min ago; gTrade (Gains Network): no order-book sample. Net counts fees only.

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, 4 min ago	2.75 bp	15.8 bp −$16	27.0 bp −$270	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

AVAX on 36 exchanges

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
Variational Omni AVAX	−0.0159%	8h	10.914	−0.004%	$3.1M	$2.0M	—	as long as short
Gate AVAX_USDT	−0.0106%	8h	10.903	−0.101%	$14.9M	$26.9M	75x	as long as short
Bybit AVAXUSDT	−0.0075%	8h	10.899	−0.137%	$84.9M	$129.7M	75x	as long as short
Kraken Futures PF_AVAXUSD	−0.0056%	1h	10.913	−0.012%	$3.8M	$10.7M	50x	as long as short
Phemex AVAXUSDTlong	−0.0047%	8h	10.914	long leg	$29.1M	$5.5M	50x
dYdX AVAX-USD	0.0000%	1h	10.923	+0.083%	$93K	$100K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.912	−0.018%	$5.0M	$6.6M	25x	as long as short
gTrade (Gains Network) AVAX/USDshort	L +0.0002% / S −0.0002%	1h	10.910	−0.033%	$24K	—	150x
Nado AVAX-PERP	+0.0007%	1h	10.902	−0.112%	$278K	$273K	10x	as long as short
Polymarket Perps AVAX-USD	+0.0025%	1h	10.903	−0.101%	$60K	$366K	10x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	−1.411%	$17K	$151K	12x	as long as short
SoDEX AVAX-USD	+0.0049%	1h	10.909	−0.046%	$19K	$65K	10x	as long as short
OKX AVAX-USDT-SWAP	+0.0054%	8h	10.898	−0.147%	$19.4M	$99.7M	50x	as long as short
Paradex AVAX-USD-PERP	+0.0093%	8h	10.901	−0.118%	$12K	$62	20x	as long as short
MEXC AVAX_USDT	+0.0095%	8h	10.910	−0.037%	$53.7M	$70.6M	200x	as long as short
Binance AVAXUSDT	+0.0095%	8h	10.905	−0.086%	$114.9M	$364.2M	75x	as long as short
Lighter AVAX	+0.0096%	1h	10.909	−0.043%	$1.2M	$1.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.905	−0.082%	$24K	$429K	50x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.921	+0.064%	$36.4M	$36.6M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.905	−0.083%	$2.3M	$1.2M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.909	−0.047%	$274K	$86K	10x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.906	−0.073%	$14.4M	$18.3M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.895	−0.174%	$33.2M	$42.2M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.902	−0.110%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.909	−0.046%	$391K	$566K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.917	+0.023%	$352K	$1.6M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.915	+0.009%	$155K	$679K	50x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.916	+0.018%	$239K	$211K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.936	+0.202%	$12K	$773K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.899	−0.133%	$328K	$901K	75x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.897	−0.157%	$621K	$1.3M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.904	−0.092%	$250K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0208%	1h	10.912	−0.018%	$856K	$5.0M	50x	as long as short
BloFin AVAX-USDT	+0.0215%	8h	10.905	−0.082%	$4.7M	$5.2M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.903	−0.099%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0464% / S −0.0317%	1h	10.924	+0.090%	$242K	—	120x	as long as short