Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0074%/8h= +8.1% APRpaid last 24h +0.027%

Price spread now: GMX against BloFin−0.055%51s7-day average +0.040% · you buy dearer than you sell

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

Long on BloFin Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.059%+$6 on $10k

Price spread, last 4 days (all we have)+0.350%+$35 · spread now −0.055%, 7d avg +0.040%

Together, before fees+0.409%+$41 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.095% cheaper against BloFin than usual: you would sell low and buy high (spread −0.055% now, against its 7-day average of +0.040%). If the spread goes back, that is −$9 on $10k: about 4.3 days of funding at the current rate (+$2 a day). The two prices were read 51 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	BloFin AVAX-USDT	10.765	0.0220	pay 0.0220% / 8h	7h 50m	$4.6M	$5.4M	100x
Short	GMX AVAX/USD [AVAX-USDC]	10.759	L +0.0443% / S −0.0294%	get 0.0037% / 1h	50m 00s	$227K	—	120x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against BloFin. 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 BloFinbpFee GMXbpOrdersPrice spread, now −0.055%Rate

Funding earned: $15.54
Price spread: −0.055% → +0.040%: −$9.5
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$17.96
Costs to cover: 0.240%
Break-even: 15.1 days

Slippage unknown: BloFin: 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 BloFin live order book, 4 min ago	1.39 bp	7.9 bp −$8	11.0 bp −$110	29.8 bp −$2,985	86.0 bp −$43.0K
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
Nado AVAX-PERP	−0.0322%	1h	10.755	−0.098%	$290K	$322K	10x	as long as short
Kraken Futures PF_AVAXUSD	−0.0266%	1h	10.758	−0.062%	$3.7M	$11.6M	50x	as long as short
Gate AVAX_USDT	−0.0117%	8h	10.756	−0.084%	$13.6M	$28.6M	75x	as long as short
Variational Omni AVAX	−0.0077%	8h	10.764	−0.012%	$3.0M	$2.1M	—	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0029%	1h	10.757	−0.074%	$4.9M	$6.8M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.765	−0.004%	$92K	$111K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.770	+0.043%	$12K	—	150x	as long as short
SoDEX AVAX-USD	+0.0007%	1h	10.756	−0.084%	$18K	$68K	10x	as long as short
Phemex AVAXUSDT	+0.0019%	8h	10.762	−0.028%	$28.7M	$5.7M	50x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	−0.046%	$17K	$151K	12x	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	+0.0093%	8h	10.761	−0.034%	$12K	$212	20x	as long as short
Lighter AVAX	+0.0096%	1h	10.756	−0.084%	$1.2M	$2.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.761	−0.037%	$25K	$464K	50x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.770	+0.046%	$36.9M	$40.1M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.763	−0.022%	$2.4M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.764	−0.012%	$271K	$128K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.759	−0.056%	$113.8M	$399.0M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.759	−0.056%	$84.1M	$139.4M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.762	−0.028%	$19.0M	$107.0M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.755	−0.093%	$53.0M	$78.9M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.759	−0.056%	$13.9M	$21.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.761	−0.037%	$32.7M	$45.7M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.756	−0.084%	—	$53.3M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.762	−0.028%	$438K	$531K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.778	+0.120%	$340K	$1.2M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.782	+0.158%	$174K	$663K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.765	0.000%	$135K	$287K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.763	−0.019%	$233K	$248K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.793	+0.263%	$12K	$770K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.755	−0.098%	$332K	$868K	75x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.760	−0.044%	$601K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.751	−0.130%	$247K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0200%	1h	10.769	+0.037%	$847K	$5.1M	50x	as long as short
BloFin AVAX-USDTlong	+0.0220%	8h	10.765	long leg	$4.6M	$5.4M	100x
Reya AVAXRUSDPERP	+0.0245%	1h	10.756	−0.080%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]short	L +0.0443% / S −0.0294%	1h	10.759	−0.055%	$227K	—	120x