Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against SunX−0.414%7-day average −0.278% · you buy dearer than you sell

Net, funding: paid 7d − costs−$460as in the Funding arb table

Net, price: spread back to 7d avg − costs−$452as in the Price arb table

costs, in and out, $10k−$4394.387% of the position

Long on SunX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.209%−$21 on $10k

Price spread, last 4 days (all we have)+0.619%+$62 · spread now −0.414%, 7d avg −0.278%

Together, before fees+0.409%+$41 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.136% cheaper against SunX than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of −0.278%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX AVAX-USDT	11.179	0.0100	pay 0.0100% / 8h	5h 03m	$12K	$702K	20x
Short	dYdX AVAX-USD	11.133	0	get 0.0000% / 1h	3m 42s	$102K	$87K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.414%Rate

Funding earned: −$21
Price spread: −0.414% → −0.278%: −$13.65
Slippage, 4 orders: −$420.73
Fee SunX: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$473.38
Costs to cover: 4.387%
Break-even: never at this rate

Slippage from SunX: live order book, 28 min ago; dYdX: live order book, 60 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, 28 min ago	41.87 bp	55.4 bp −$55	doesn't fit	doesn't fit	doesn't fit
Sell dYdX live order book, 60 min ago	135.84 bp	140.8 bp −$141	144.7 bp −$1,447	146.5 bp −$14.7K	169.9 bp −$85.0K

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	−0.1374%	1h	11.120	−0.530%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0109%	1h	11.143	−0.324%	$5.2M	$7.9M	25x	as long as short
Nado AVAX-PERP	−0.0063%	1h	11.142	−0.333%	$287K	$395K	10x	as long as short
dYdX AVAX-USDshort	0.0000%	1h	11.133	−0.414%	$102K	$87K	10x
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.145	−0.303%	$13K	—	150x	as long as short
Kraken Futures PF_AVAXUSD	+0.0045%	1h	11.150	−0.257%	$4.3M	$11.4M	50x	as long as short
Lighter AVAX	+0.0096%	1h	11.136	−0.389%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.143	−0.324%	$16K	$561K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.132	−0.425%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.142	−0.337%	$2.3M	$1.2M	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	11.139	−0.361%	$290K	$114K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.143	−0.324%	$119.1M	$430.1M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.145	−0.306%	$88.4M	$137.9M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.136	−0.386%	$20.4M	$116.6M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.134	−0.404%	$12.1M	$35.1M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.138	−0.369%	$48.7M	$79.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.138	−0.369%	$15.6M	$21.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.135	−0.395%	$33.5M	$48.3M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.135	−0.395%	—	$81.0M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.149	−0.270%	$330K	$521K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.140	−0.348%	$2.9M	$2.3M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.152	−0.244%	$354K	$822K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.148	−0.279%	$179K	$672K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.147	−0.288%	$131K	$349K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.152	−0.243%	$196K	$312K	20x	as long as short
SunX AVAX-USDTlong	+0.0100%	8h	11.179	long leg	$12K	$702K	20x
SoDEX AVAX-USD	+0.0100%	1h	11.146	−0.297%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.146	−0.301%	$365K	$865K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.151	−0.252%	$29.8M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.134	−0.407%	$684K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.145	−0.306%	$256K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.143	−0.324%	$5.1M	$5.5M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.166	−0.118%	$895K	$5.4M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.140	−0.354%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.145	−0.309%	$236K	—	120x	as long as short
Hyperliquid AVAX	+0.0607%	1h	11.150	−0.261%	$43.5M	$42.4M	10x	as long as short