Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0194%/8h= +21.2% APRpaid last 24h +0.049%

Price spread now: GMX against Bitget+0.052%164s7-day average +0.077% · you sell dearer than you buy

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

Long on Bitget Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.177%+$18 on $10k

Price spread, last 4 days (all we have)−0.241%−$24 · spread now +0.052%, 7d avg +0.077%

Together, before fees−0.064%−$6 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.025% cheaper against Bitget than usual: you would sell low and buy high (spread +0.052% now, against its 7-day average of +0.077%). If the spread goes back, that is −$2 on $10k: about 10 hours of funding at the current rate (+$6 a day). The two prices were read 164 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget AVAXUSDT	10.791	0.0100	pay 0.0100% / 8h	7h 39m	$33.0M	$45.6M	75x
Short	GMX AVAX/USD [AVAX-USDC]	10.797	L +0.0443% / S −0.0294%	get 0.0037% / 1h	39m 41s	$228K	—	120x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bitget. 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 BitgetbpFee GMXbpOrdersPrice spread, now +0.052%Rate

Funding earned: $40.74
Price spread: +0.052% → +0.077%: −$2.49
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $14.25
Costs to cover: 0.240%
Break-even: 4.6 days

Slippage unknown: Bitget: live order book, 4 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 Bitget live order book, 4 min ago	0.93 bp	8.9 bp −$9	16.3 bp −$163	37.6 bp −$3,757	doesn't fit
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
Kraken Futures PF_AVAXUSD	−0.0265%	1h	10.795	+0.038%	$3.7M	$11.6M	50x	as long as short
Nado AVAX-PERP	−0.0249%	1h	10.784	−0.060%	$281K	$326K	10x	as long as short
Phemex AVAXUSDT	−0.0150%	8h	10.788	−0.028%	$28.8M	$5.7M	50x	as long as short
Variational Omni AVAX	−0.0080%	8h	10.771	−0.188%	$3.0M	$2.2M	—	as long as short
SoDEX AVAX-USD	−0.0053%	1h	10.790	−0.009%	$18K	$68K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.795	+0.034%	$92K	$111K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.788	−0.028%	$4.8M	$6.8M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.786	−0.046%	$12K	—	150x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	−0.287%	$17K	$151K	12x	as long as short
Gate AVAX_USDT	+0.0038%	8h	10.789	−0.019%	$13.7M	$28.8M	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	+0.0091%	8h	10.786	−0.046%	$12K	$212	20x	as long as short
Lighter AVAX	+0.0096%	1h	10.788	−0.029%	$1.2M	$2.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.779	−0.111%	$22K	$468K	50x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.803	+0.111%	$36.0M	$40.2M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.788	−0.029%	$2.4M	$1.4M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.792	+0.009%	$271K	$128K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.789	−0.019%	$113.7M	$398.5M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.787	−0.037%	$84.4M	$138.4M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.786	−0.046%	$19.0M	$107.1M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.788	−0.028%	$53.2M	$79.2M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.791	0.000%	$13.9M	$21.4M	75x	as long as short
Bitget AVAXUSDTlong	+0.0100%	8h	10.791	long leg	$33.0M	$45.6M	75x
BingX AVAX-USDC	+0.0100%	8h	10.790	−0.009%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.799	+0.074%	$440K	$533K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.781	−0.088%	$344K	$1.2M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.807	+0.148%	$174K	$661K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.786	−0.046%	$135K	$287K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.790	−0.009%	$233K	$239K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.809	+0.171%	$12K	$774K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.791	+0.005%	$335K	$871K	75x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.785	−0.059%	$612K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.778	−0.119%	$248K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0200%	1h	10.791	0.000%	$856K	$5.2M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.777	−0.130%	$4.7M	$5.5M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.778	−0.122%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]short	L +0.0443% / S −0.0294%	1h	10.797	+0.052%	$228K	—	120x