Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0144%/8h= −15.7% APRpaid last 24h −0.051%

Price spread now: Phemex against Reya+0.023%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Phemex

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

The price spread pays, funding is against you. Phemex is 0.023% dearer against Reya than usual: you sell high and buy low (spread +0.023% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 13 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya AVAXRUSDPERP	11.233	0.0244	pay 0.0030% / 1h	37m 55s	$1K	—	20x
Short	Phemex AVAXUSDT	11.236	0.0100	get 0.0100% / 8h	37m 55s	$30.2M	$4.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Reya. 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 ReyabpFee PhemexbpOrdersPrice spread, now +0.023%Rate

Funding earned: −$30.19
Price spread: +0.023% → 0.000%: $2.28
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$45.91
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Phemex: live order book, 6 min ago. 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 Reya no order-book sample	—	—	—	—	—
Sell Phemex live order book, 6 min ago	1.33 bp	13.2 bp −$13	21.4 bp −$214	doesn't fit	doesn't fit

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
Injective AVAX/USDC PERP	−0.1451%	1h	11.190	−0.387%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0106%	1h	11.234	+0.005%	$5.3M	$8.9M	25x	as long as short
Nado AVAX-PERP	−0.0088%	1h	11.236	+0.023%	$296K	$884K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.240	+0.060%	$103K	$111K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.237	+0.034%	$13K	—	150x	as long as short
Variational Omni AVAX	+0.0065%	8h	11.239	+0.050%	$3.0M	$2.4M	—	as long as short
Lighter AVAX	+0.0096%	1h	11.237	+0.033%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.236	+0.023%	$18K	$673K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.236	+0.027%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.240	+0.057%	$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	+0.066%	$299K	$118K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.235	+0.014%	$120.2M	$515.7M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.236	+0.023%	$89.4M	$155.3M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.236	+0.023%	$20.2M	$144.4M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.234	+0.005%	$12.5M	$40.3M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.235	+0.014%	$52.1M	$93.1M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.241	+0.067%	$15.8M	$24.3M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.236	+0.023%	$34.3M	$58.6M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.240	+0.058%	—	$86.9M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.242	+0.076%	$359K	$564K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.242	+0.078%	$352K	$862K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.242	+0.076%	$181K	$685K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.239	+0.050%	$132K	$440K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.244	+0.094%	$204K	$303K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.267	+0.297%	$12K	$733K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.235	+0.014%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.238	+0.036%	$363K	$1.0M	75x	as long as short
Phemex AVAXUSDTshort	+0.0100%	8h	11.236	+0.023%	$30.2M	$4.9M	50x
Extended AVAX-USD	+0.0104%	1h	11.234	+0.006%	$672K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.233	−0.004%	$258K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.234	+0.005%	$5.0M	$7.5M	100x	as long as short
Reya AVAXRUSDPERPlong	+0.0244%	1h	11.233	long leg	$1K	—	20x
Kraken Futures PF_AVAXUSD	+0.0270%	1h	11.241	+0.063%	$4.6M	$13.2M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0280%	1h	11.254	+0.183%	$917K	$7.9M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0421% / S −0.0275%	1h	11.236	+0.021%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0821%	1h	11.260	+0.236%	$43.7M	$55.0M	10x	as long as short