The same Avalanche bet costs very different amounts depending on the venue. Traders holding $AVAX longs on XT paid 0.12% per 8 hours more than on the cheapest venue, the widest funding gap among the coins listed on Nov 5.
Cardano carried almost the same gap at 0.12%, with Delta the cheapest place for longs. Litecoin's spread was 0.09% and Dogecoin's 0.08%, both cheapest on Backpack. XT was the priciest venue for longs on three of the four coins.
Annualized after fees, the AVAX gap models out to 117.28%, assuming the spread holds all year. That is a modeled carry, not a recorded return.
Cardano carried almost the same gap at 0.12%, with Delta the cheapest place for longs. Litecoin's spread was 0.09% and Dogecoin's 0.08%, both cheapest on Backpack. XT was the priciest venue for longs on three of the four coins.
Annualized after fees, the AVAX gap models out to 117.28%, assuming the spread holds all year. That is a modeled carry, not a recorded return.
