Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0040%/8h= −4.3% APRpaid last 24h −0.019%

Price spread now: SoDEX against Phemex−0.037%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 SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 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

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and SoDEX is 0.037% cheaper against Phemex than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AVAXUSDT	10.698	0.0100	pay 0.0100% / 8h	1h 43m	$28.5M	$5.8M	50x
Short	SoDEX AVAX-USD	10.694	0.0060	get 0.0008% / 1h	43m 40s	$18K	$72K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.037%Rate

Funding earned: −$8.34
Price spread: −0.037% → 0.000%: −$3.74
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$32.08
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 5 min ago; SoDEX: 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, 5 min ago	3.74 bp	16.6 bp −$17	23.7 bp −$237	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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	−0.0189%	1h	10.696	−0.019%	$286K	$338K	10x	as long as short
Variational Omni AVAX	−0.0039%	8h	10.678	−0.190%	$2.8M	$2.1M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.694	−0.037%	$89K	$117K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.695	−0.028%	$4.8M	$7.2M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.699	+0.007%	$12K	—	150x	as long as short
Gate AVAX_USDT	+0.0028%	8h	10.699	+0.009%	$12.7M	$32.1M	75x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	+0.580%	$17K	$152K	12x	as long as short
SoDEX AVAX-USDshort	+0.0060%	1h	10.694	−0.037%	$18K	$72K	10x
Paradex AVAX-USD-PERP	+0.0090%	8h	10.693	−0.051%	$12K	$212	20x	as long as short
Bybit AVAXUSDT	+0.0092%	8h	10.703	+0.047%	$81.7M	$147.3M	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	10.687	−0.105%	$1.2M	$2.5M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.705	+0.065%	$23K	$427K	50x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.696	−0.019%	$37.3M	$44.0M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.703	+0.047%	$2.2M	$1.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.701	+0.024%	$269K	$132K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.702	+0.039%	$113.7M	$427.3M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.707	+0.084%	$18.7M	$113.0M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.705	+0.065%	$44.9M	$80.5M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.688	−0.093%	$13.6M	$22.9M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.707	+0.084%	$32.4M	$49.0M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.706	+0.075%	—	$54.4M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.693	−0.047%	$427K	$561K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.692	−0.056%	$342K	$1.1M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.692	−0.056%	$172K	$664K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.697	−0.009%	$136K	$354K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.702	+0.037%	$230K	$346K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.728	+0.279%	$12K	$764K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.694	−0.042%	$343K	$873K	75x	as long as short
Phemex AVAXUSDTlong	+0.0100%	8h	10.698	long leg	$28.5M	$5.8M	50x
Extended AVAX-USD	+0.0104%	1h	10.704	+0.057%	$609K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.694	−0.037%	$246K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0113%	1h	10.700	+0.018%	$4.2M	$11.3M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0200%	1h	10.706	+0.075%	$935K	$5.1M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.705	+0.065%	$4.7M	$5.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.690	−0.076%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0295%	1h	10.698	−0.002%	$226K	—	120x	as long as short