Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0195%/8h= +21.3% APRpaid last 24h +0.053%

Price spread now: GMX against Binance+0.005%7-day average +0.052% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Binance Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.169%+$17 on $10k

Price spread, last 4 days (all we have)−0.207%−$21 · spread now +0.005%, 7d avg +0.052%

Together, before fees−0.038%−$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.047% cheaper against Binance than usual: you would sell low and buy high (spread +0.005% now, against its 7-day average of +0.052%). If the spread goes back, that is −$5 on $10k: about 19 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance AVAXUSDT	11.128	0.0100	pay 0.0100% / 8h	5h 40m	$118.8M	$435.2M	75x
Short	GMX AVAX/USD [AVAX-USDC]	11.129	L +0.0436% / S −0.0295%	get 0.0037% / 1h	40m 17s	$236K	—	120x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Binance. 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 BinancebpFee GMXbpOrdersPrice spread, now +0.005%Rate

Funding earned: $40.92
Price spread: +0.005% → +0.052%: −$4.69
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $14.23
Costs to cover: 0.220%
Break-even: 4.6 days

Slippage unknown: Binance: live order book, 3 min ago; GMX: no order-book sample. Net counts fees only.

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 Binance live order book, 3 min ago	0.45 bp	6.8 bp −$7	11.3 bp −$113	43.4 bp −$4,341	145.5 bp −$72.7K
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	11.100	−0.255%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0199%	1h	11.126	−0.022%	$5.2M	$7.9M	25x	as long as short
Nado AVAX-PERP	−0.0062%	1h	11.136	+0.068%	$287K	$449K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.133	+0.041%	$102K	$87K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.130	+0.013%	$13K	—	150x	as long as short
Kraken Futures PF_AVAXUSD	+0.0045%	1h	11.133	+0.040%	$4.3M	$11.5M	50x	as long as short
Lighter AVAX	+0.0096%	1h	11.130	+0.013%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.135	+0.059%	$16K	$564K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.134	+0.054%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.137	+0.076%	$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	11.135	+0.060%	$290K	$112K	10x	as long as short
Binance AVAXUSDTlong	+0.0100%	8h	11.128	long leg	$118.8M	$435.2M	75x
Bybit AVAXUSDT	+0.0100%	8h	11.129	+0.005%	$88.4M	$138.1M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.130	+0.014%	$20.1M	$117.8M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.133	+0.041%	$12.2M	$34.9M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.131	+0.023%	$48.0M	$79.0M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.136	+0.068%	$15.6M	$21.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.133	+0.041%	$33.4M	$48.7M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.132	+0.032%	—	$82.0M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.134	+0.050%	$356K	$498K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.132	+0.035%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.141	+0.114%	$357K	$801K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.145	+0.149%	$179K	$678K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.136	+0.068%	$130K	$349K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.135	+0.059%	$196K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.167	+0.350%	$12K	$701K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.129	+0.005%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.139	+0.100%	$364K	$871K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.133	+0.041%	$29.7M	$5.6M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.126	−0.023%	$675K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.130	+0.019%	$256K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.128	−0.004%	$5.1M	$5.5M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.134	+0.050%	$900K	$5.5M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.130	+0.011%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]short	L +0.0436% / S −0.0295%	1h	11.129	+0.005%	$236K	—	120x
Hyperliquid AVAX	+0.0454%	1h	11.149	+0.185%	$43.4M	$43.6M	10x	as long as short