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 −0.007%

Price spread now: MEXC against Phemex+0.182%7-day average −0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$470.474% of the position

Long on Phemex Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.021%−$2 on $10k

Price spread, last 4 days (all we have)+0.060%+$6 · spread now +0.182%, 7d avg −0.023%

Together, before fees+0.039%+$4 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: MEXC is 0.205% dearer against Phemex than usual: you sell high and buy low, +$20 on $10k if it goes back to its 7-day average of −0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AVAXUSDT	10.987	0.0100	pay 0.0100% / 8h	4h 13m	$29.3M	$5.8M	50x
Short	MEXC AVAX_USDT	11.007	0.0100	get 0.0100% / 8h	4h 13m	$46.3M	$78.6M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.182%Rate

Funding earned: $0
Price spread: +0.182% → −0.023%: $20.46
Slippage, 4 orders: −$35.36
Fee Phemex: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$26.89
Costs to cover: 0.474%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; MEXC: 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	11.81 bp	23.9 bp −$24	32.1 bp −$321	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	1.36 bp	1.4 bp −$1	2.7 bp −$27	41.4 bp −$4,140	101.9 bp −$51.0K

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	10.990	+0.027%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0023%	1h	10.984	−0.027%	$5.1M	$7.9M	25x	as long as short
Nado AVAX-PERP	−0.0013%	1h	10.978	−0.077%	$286K	$371K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.982	−0.048%	$96K	$97K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.981	−0.054%	$12K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.011	+0.216%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.980	−0.064%	$15K	$550K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	10.979	−0.069%	$12K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.992	+0.044%	$2.2M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.985	−0.022%	$286K	$114K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AVAXUSDT	+0.0100%	8h	11.012	+0.231%	$116.0M	$430.6M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.012	+0.228%	$85.3M	$139.7M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.019	+0.291%	$20.2M	$115.1M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	10.998	+0.100%	$12.1M	$34.5M	75x	as long as short
MEXC AVAX_USDTshort	+0.0100%	8h	11.007	+0.182%	$46.3M	$78.6M	200x
KuCoin AVAXUSDTM	+0.0100%	8h	11.009	+0.200%	$15.5M	$21.7M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.015	+0.255%	$33.0M	$48.0M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.010	+0.209%	—	$78.6M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.988	+0.009%	$330K	$525K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	10.963	−0.222%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.041	+0.490%	$352K	$874K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.040	+0.482%	$178K	$671K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.980	−0.064%	$129K	$345K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.990	+0.027%	$193K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.010	+0.209%	$12K	$715K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.986	−0.009%	$18K	$71K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.986	−0.014%	$366K	$812K	75x	as long as short
Phemex AVAXUSDTlong	+0.0100%	8h	10.987	long leg	$29.3M	$5.8M	50x
Extended AVAX-USD	+0.0104%	1h	11.004	+0.159%	$678K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.979	−0.072%	$252K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0214%	1h	10.986	−0.005%	$4.2M	$11.3M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.991	+0.036%	$5.0M	$5.4M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	10.994	+0.064%	$890K	$5.2M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	10.975	−0.111%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	10.981	−0.057%	$233K	—	120x	as long as short
Hyperliquid AVAX	+0.0512%	1h	11.030	+0.391%	$42.8M	$42.1M	10x	as long as short