Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.283%

Price spread now: Injective against SunX−0.947%7-day average −0.491% · you buy dearer than you sell

Net, funding: paid 7d − costs−$297as in the Funding arb table

Net, price: spread back to 7d avg − costs−$291as in the Price arb table

costs, in and out, $10k−$2452.454% of the position

Long on SunX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.512%−$51 on $10k

Price spread, last 4 days (all we have)+1.649%+$165 · spread now −0.947%, 7d avg −0.491%

Together, before fees+1.137%+$114 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 0.456% cheaper against SunX than usual: you would sell low and buy high (−$46 if the spread goes back to its 7-day average of −0.491%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX AVAX-USDT	10.863	0.0100	pay 0.0100% / 8h	6h 54m	$12K	$777K	20x
Short	Injective AVAX/USDC PERP	10.760	0.0033	get 0.0004% / 1h	54m 40s	$17K	$151K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.947%Rate

Funding earned: −$14
Price spread: −0.947% → −0.491%: −$45.6
Slippage, 4 orders: −$237.42
Fee SunX: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$305.04
Costs to cover: 2.454%
Break-even: never at this rate

Slippage from SunX: live order book, 47 min ago; Injective: live order book, 39 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, 47 min ago	41.91 bp	55.3 bp −$55	doesn't fit	doesn't fit	doesn't fit
Sell Injective live order book, 39 min ago	27.96 bp	28.0 bp −$28	doesn't fit	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	−0.0185%	1h	10.841	−0.199%	$3.8M	$11.5M	50x	as long as short
Variational Omni AVAX	−0.0101%	8h	10.862	−0.005%	$3.0M	$2.1M	—	as long as short
SoDEX AVAX-USD	−0.0053%	1h	10.836	−0.248%	$18K	$68K	10x	as long as short
Phemex AVAXUSDT	−0.0039%	8h	10.841	−0.202%	$28.9M	$5.6M	50x	as long as short
Gate AVAX_USDT	−0.0010%	8h	10.809	−0.496%	$14.1M	$28.0M	75x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.811	−0.479%	$92K	$111K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.840	−0.211%	$4.9M	$6.7M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.897	+0.313%	$12K	—	150x	as long as short
Injective AVAX/USDC PERPshort	+0.0033%	1h	10.760	−0.947%	$17K	$151K	12x
Bybit AVAXUSDT	+0.0080%	8h	10.804	−0.542%	$84.1M	$135.6M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex AVAX-USD-PERP	+0.0093%	8h	10.806	−0.525%	$12K	$62	20x	as long as short
Lighter AVAX	+0.0096%	1h	10.814	−0.454%	$1.2M	$2.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.819	−0.404%	$22K	$457K	50x	as long as short
Nado AVAX-PERP	+0.0100%	1h	10.834	−0.266%	$273K	$310K	10x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.833	−0.275%	$35.9M	$39.5M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.813	−0.461%	$2.2M	$1.4M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.811	−0.479%	$272K	$126K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.816	−0.434%	$114.0M	$387.0M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.812	−0.469%	$19.2M	$105.9M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.810	−0.487%	$53.7M	$72.4M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.809	−0.496%	$14.0M	$19.7M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.816	−0.432%	$32.9M	$44.9M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.817	−0.423%	—	$52.6M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.827	−0.330%	$437K	$527K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.881	+0.163%	$346K	$1.3M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.887	+0.222%	$175K	$661K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.834	−0.266%	$136K	$247K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.848	−0.137%	$235K	$221K	20x	as long as short
SunX AVAX-USDTlong	+0.0100%	8h	10.863	long leg	$12K	$777K	20x
HTX AVAX-USDT	+0.0100%	8h	10.832	−0.289%	$322K	$946K	75x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.813	−0.462%	$615K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.837	−0.236%	$249K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0192%	1h	10.848	−0.137%	$854K	$5.2M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.834	−0.266%	$4.7M	$5.3M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.834	−0.268%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0294%	1h	10.840	−0.207%	$229K	—	120x	as long as short