Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.108%

Price spread now: Deribit against SunX−0.122%7-day average −0.295% · you buy dearer than you sell

Net, funding: paid 7d − costs−$234as in the Funding arb table

Net, price: spread back to 7d avg − costs−$151as in the Price arb table

costs, in and out, $10k−$1681.682% of the position

Long on SunX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.661%−$66 on $10k

Price spread, last 4 days (all we have)−0.189%−$19 · spread now −0.122%, 7d avg −0.295%

Together, before fees−0.850%−$85 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.173% dearer against SunX than usual: you sell high and buy low (spread −0.122% now, against its 7-day average of −0.295%): +$17 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 5.8 days. At the pace of the last 7 days (−0.661% in total) that is about 44 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX AVAX-USDT	10.717	0.0100	pay 0.0100% / 8h	19m 06s	$12K	$769K	20x
Short	Deribit AVAX_USDC-PERPETUAL	10.704	0	get 0.0000% / 1h	19m 06s	$4.8M	$6.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against SunX. 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 SunXbpFee DeribitbpOrdersPrice spread, now −0.122%Rate

Funding earned: −$21
Price spread: −0.122% → −0.295%: $17.28
Slippage, 4 orders: −$153.16
Fee SunX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$171.88
Costs to cover: 1.682%
Break-even: never at this rate

Slippage from SunX: live order book, 33 min ago; Deribit: 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 SunX live order book, 33 min ago	41.88 bp	55.4 bp −$55	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 5 min ago	0.94 bp	5.3 bp −$5	34.3 bp −$343	doesn't fit	doesn't fit

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
Kraken Futures PF_AVAXUSD	−0.0184%	1h	10.702	−0.143%	$3.8M	$11.6M	50x	as long as short
Nado AVAX-PERP	−0.0174%	1h	10.695	−0.206%	$289K	$329K	10x	as long as short
Variational Omni AVAX	−0.0077%	8h	10.667	−0.471%	$2.9M	$2.2M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.698	−0.182%	$91K	$111K	10x	as long as short
Deribit AVAX_USDC-PERPETUALshort	0.0000%	1h	10.704	−0.122%	$4.8M	$6.8M	25x
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.702	−0.137%	$12K	—	150x	as long as short
Gate AVAX_USDT	+0.0008%	8h	10.701	−0.150%	$13.2M	$30.8M	75x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	+0.400%	$17K	$151K	12x	as long as short
Paradex AVAX-USD-PERP	+0.0090%	8h	10.695	−0.210%	$12K	$212	20x	as long as short
Bybit AVAXUSDT	+0.0096%	8h	10.699	−0.169%	$81.7M	$139.6M	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	10.699	−0.167%	$1.2M	$2.4M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.701	−0.150%	$25K	$468K	50x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.709	−0.076%	$36.7M	$41.7M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.701	−0.151%	$2.2M	$896K	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.698	−0.176%	$269K	$128K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.698	−0.180%	$113.1M	$406.8M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.699	−0.169%	$18.8M	$107.9M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.701	−0.150%	$45.7M	$79.9M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.701	−0.150%	$13.8M	$21.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.701	−0.150%	$32.4M	$46.6M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.699	−0.169%	—	$53.6M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.704	−0.122%	$436K	$547K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.673	−0.411%	$343K	$1.1M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.681	−0.337%	$172K	$662K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.704	−0.122%	$134K	$297K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.708	−0.085%	$232K	$255K	20x	as long as short
SunX AVAX-USDTlong	+0.0100%	8h	10.717	long leg	$12K	$769K	20x
SoDEX AVAX-USD	+0.0100%	1h	10.701	−0.150%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.701	−0.146%	$326K	$863K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.699	−0.169%	$28.5M	$5.7M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.699	−0.172%	$605K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.695	−0.206%	$246K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.696	−0.197%	$4.6M	$5.5M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0224%	1h	10.700	−0.160%	$850K	$4.7M	50x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.700	−0.156%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0443% / S −0.0294%	1h	10.701	−0.147%	$226K	—	120x	as long as short