Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.009%

Price spread now: Lighter against SunX−0.261%7-day average −0.298% · you buy dearer than you sell

Net, funding: paid 7d − costs−$184as in the Funding arb table

Net, price: spread back to 7d avg − costs−$162as in the Price arb table

costs, in and out, $10k−$1651.652% of the position

Long on SunX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.183%−$18 on $10k

Price spread, last 4 days (all we have)+0.445%+$44 · spread now −0.261%, 7d avg −0.298%

Together, before fees+0.262%+ Points / potential airdropLighter: Season 3 · farm board+$26 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.037% dearer against SunX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.298%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX AVAX-USDT	11.176	0.0100	pay 0.0100% / 8h	5h 06m	$12K	$702K	20x
Short	Lighter AVAX	11.147	0.0096	get 0.0012% / 1h	6m 16s	$1.2M	$2.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.261%Rate

Funding earned: −$0.84
Price spread: −0.261% → −0.298%: $3.67
Slippage, 4 orders: −$157.23
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$162.4
Costs to cover: 1.652%
Break-even: never at this rate

Slippage from SunX: live order book, 25 min ago; Lighter: live order book, 6 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, 25 min ago	41.87 bp	55.4 bp −$55	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 6 min ago	3.95 bp	4.2 bp −$4	11.3 bp −$113	75.1 bp −$7,506	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
Injective AVAX/USDC PERP	−0.1374%	1h	11.120	−0.503%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0109%	1h	11.141	−0.315%	$5.2M	$7.9M	25x	as long as short
Nado AVAX-PERP	−0.0064%	1h	11.151	−0.225%	$287K	$397K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.148	−0.249%	$103K	$87K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.143	−0.296%	$13K	—	150x	as long as short
Kraken Futures PF_AVAXUSD	+0.0045%	1h	11.151	−0.224%	$4.3M	$11.5M	50x	as long as short
Lighter AVAXshort	+0.0096%	1h	11.147	−0.261%	$1.2M	$2.9M	10x
Popdex AVAXUSDT	+0.0096%	1h	11.147	−0.261%	$16K	$563K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.145	−0.277%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.148	−0.255%	$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	11.153	−0.205%	$291K	$114K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.148	−0.251%	$119.2M	$430.7M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.146	−0.270%	$88.4M	$137.8M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.149	−0.243%	$20.4M	$116.8M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.145	−0.279%	$12.2M	$35.1M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.146	−0.270%	$48.9M	$79.6M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.148	−0.252%	$15.7M	$21.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.143	−0.297%	$33.5M	$48.4M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.146	−0.270%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.147	−0.261%	$330K	$523K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.144	−0.285%	$2.9M	$2.3M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.149	−0.243%	$354K	$822K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.148	−0.252%	$179K	$674K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.148	−0.252%	$131K	$349K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.151	−0.225%	$196K	$312K	20x	as long as short
SunX AVAX-USDTlong	+0.0100%	8h	11.176	long leg	$12K	$702K	20x
SoDEX AVAX-USD	+0.0100%	1h	11.146	−0.270%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.146	−0.275%	$365K	$866K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.148	−0.252%	$29.8M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.141	−0.319%	$684K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.144	−0.288%	$256K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.145	−0.279%	$5.1M	$5.5M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.155	−0.190%	$894K	$5.4M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.143	−0.301%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.143	−0.294%	$236K	—	120x	as long as short
Hyperliquid AVAX	+0.0600%	1h	11.162	−0.127%	$43.6M	$42.4M	10x	as long as short