Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0145%/8h= +15.8% APRpaid last 24h +0.051%

Price spread now: Reya against Phemex−0.063%46s7-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 Reya

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—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.063% cheaper against Phemex than usual: you would sell low and buy high (spread −0.063% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 35 hours of funding at the current rate (+$4 a day). The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AVAXUSDT	10.688	0.0100	pay 0.0100% / 8h	58m 28s	$28.5M	$5.8M	50x
Short	Reya AVAXRUSDPERP	10.681	0.0245	get 0.0031% / 1h	58m 28s	$1K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.063%Rate

Funding earned: $30.39
Price spread: −0.063% → 0.000%: −$6.32
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: $6.06
Costs to cover: 0.180%
Break-even: 5.6 days

Slippage unknown: Phemex: live order book, 6 min ago; Reya: 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, 6 min ago	3.74 bp	14.4 bp −$14	23.5 bp −$235	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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 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
Nado AVAX-PERP	−0.0232%	1h	10.682	−0.056%	$281K	$335K	10x	as long as short
Kraken Futures PF_AVAXUSD	−0.0185%	1h	10.685	−0.030%	$3.8M	$12.0M	50x	as long as short
Variational Omni AVAX	−0.0067%	8h	10.666	−0.209%	$2.9M	$2.2M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.687	−0.005%	$91K	$111K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.687	−0.009%	$4.8M	$6.9M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.688	+0.002%	$12K	—	150x	as long as short
Gate AVAX_USDT	+0.0012%	8h	10.683	−0.047%	$12.9M	$30.4M	75x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	+0.674%	$17K	$151K	12x	as long as short
Paradex AVAX-USD-PERP	+0.0083%	8h	10.683	−0.051%	$12K	$212	20x	as long as short
Bybit AVAXUSDT	+0.0084%	8h	10.682	−0.056%	$81.5M	$142.9M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AVAX	+0.0096%	1h	10.682	−0.053%	$1.2M	$2.4M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.684	−0.037%	$25K	$472K	50x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.693	+0.047%	$37.1M	$43.6M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.690	+0.016%	$2.2M	$1.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.689	+0.008%	$268K	$129K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.684	−0.037%	$113.0M	$418.4M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.681	−0.065%	$18.8M	$110.7M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.685	−0.028%	$45.8M	$78.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.681	−0.065%	$13.6M	$22.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.684	−0.037%	$32.4M	$48.3M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.684	−0.037%	—	$54.2M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.689	+0.009%	$436K	$558K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.669	−0.179%	$339K	$1.1M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.675	−0.122%	$172K	$661K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.688	0.000%	$134K	$347K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.694	+0.056%	$231K	$255K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.716	+0.262%	$11K	$769K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.685	−0.028%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.687	−0.014%	$325K	$879K	75x	as long as short
Phemex AVAXUSDTlong	+0.0100%	8h	10.688	long leg	$28.5M	$5.8M	50x
Extended AVAX-USD	+0.0104%	1h	10.680	−0.075%	$609K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.679	−0.081%	$245K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.684	−0.037%	$4.6M	$5.5M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0224%	1h	10.693	+0.047%	$849K	$5.1M	50x	as long as short
Reya AVAXRUSDPERPshort	+0.0245%	1h	10.681	−0.063%	$1K	—	20x
GMX AVAX/USD [AVAX-USDC]	L +0.0443% / S −0.0294%	1h	10.687	−0.006%	$225K	—	120x	as long as short