Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.007%

Price spread now: Popdex against BingX−0.108%7-day average +0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$340.341% of the position

Long on BingX Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.128%+$13 · spread now −0.108%, 7d avg +0.041%

Together, before fees+0.124%+$12 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: Popdex is 0.149% cheaper against BingX than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of +0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX AVAX-USDC	11.123	0.0100	pay 0.0100% / 8h	6h 50m	—	$6.5M	—
Short	Popdex AVAXUSDT	11.111	0.0096	get 0.0012% / 1h	50m 49s	$18K	$604K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against BingX. 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 BingXbpFee PopdexbpOrdersPrice spread, now −0.108%Rate

Funding earned: −$0.84
Price spread: −0.108% → +0.041%: −$14.89
Slippage, 4 orders: −$17.75
Fee BingX: 5 bp × 2 orders: −$10
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$49.87
Costs to cover: 0.341%
Break-even: never at this rate

Slippage from BingX: live order book, 15 min ago; Popdex: live order book, 18 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 BingX live order book, 15 min ago	0.89 bp	12.7 bp −$13	27.7 bp −$277	84.9 bp −$8,490	488.5 bp −$244.3K
Sell Popdex live order book, 18 min ago	1.78 bp	5.7 bp −$6	16.3 bp −$163	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
Injective AVAX/USDC PERP	−0.1423%	1h	11.090	−0.297%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0020%	1h	11.110	−0.117%	$5.2M	$8.4M	25x	as long as short
Nado AVAX-PERP	−0.0007%	1h	11.110	−0.112%	$290K	$525K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.105	−0.160%	$102K	$105K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.109	−0.126%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0071%	8h	11.117	−0.054%	$12.1M	$36.4M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.115	−0.070%	$1.2M	$3.0M	10x	as long as short
Popdex AVAXUSDTshort	+0.0096%	1h	11.111	−0.108%	$18K	$604K	50x
Paradex AVAX-USD-PERP	+0.0100%	8h	11.098	−0.228%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.117	−0.058%	$2.3M	$1.4M	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	11.110	−0.113%	$295K	$107K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.118	−0.045%	$118.4M	$473.0M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.123	0.000%	$88.5M	$146.3M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.124	+0.009%	$19.8M	$128.0M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.117	−0.054%	$48.7M	$82.0M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.119	−0.036%	$15.5M	$22.9M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.121	−0.018%	$33.5M	$52.7M	75x	as long as short
BingX AVAX-USDClong	+0.0100%	8h	11.123	long leg	—	$6.5M	—
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.114	−0.081%	$355K	$548K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.107	−0.146%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.108	−0.136%	$353K	$844K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.109	−0.126%	$179K	$682K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.109	−0.126%	$130K	$369K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.118	−0.045%	$195K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.144	+0.185%	$12K	$721K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.113	−0.090%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.113	−0.094%	$361K	$939K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.119	−0.036%	$29.7M	$5.3M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.114	−0.081%	$668K	$2.0M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.110	−0.121%	$255K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.116	−0.063%	$5.0M	$6.1M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.102	−0.186%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.117	−0.050%	$4.3M	$12.3M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0288%	1h	11.118	−0.045%	$911K	$6.2M	50x	as long as short
Hyperliquid AVAX	+0.0395%	1h	11.128	+0.045%	$43.3M	$48.0M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.109	−0.128%	$236K	—	120x	as long as short