Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0124%/8h= −13.6% APRpaid last 24h −0.013%

Price spread now: Popdex against BloFin−0.054%7-day average −0.002% · 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−$33as in the Price arb table

costs, in and out, $10k−$280.283% of the position

Long on BloFin Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.119%−$12 on $10k

Price spread, last 3 days (all we have)+0.167%+$17 · spread now −0.054%, 7d avg −0.002%

Together, before fees+0.048%+$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Popdex is 0.051% cheaper against BloFin than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.002%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin AVAX-USDT	11.196	0.0220	pay 0.0220% / 8h	7h 05m	$5.0M	$6.1M	100x
Short	Popdex AVAXUSDT	11.190	0.0096	get 0.0012% / 1h	5m 59s	$15K	$606K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now −0.054%Rate

Funding earned: −$26.04
Price spread: −0.054% → −0.002%: −$5.13
Slippage, 4 orders: −$9.89
Fee BloFin: 6 bp × 2 orders: −$12
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$59.46
Costs to cover: 0.283%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; Popdex: live order book, 3 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 BloFin live order book, 3 min ago	0.45 bp	9.9 bp −$10	14.8 bp −$148	35.7 bp −$3,575	73.9 bp −$37.0K
Sell Popdex live order book, 3 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	−0.1363%	1h	11.170	−0.232%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0069%	1h	11.192	−0.031%	$293K	$680K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0018%	1h	11.193	−0.027%	$5.3M	$8.4M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.201	+0.043%	$103K	$105K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.192	−0.036%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.197	+0.008%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDTshort	+0.0096%	1h	11.190	−0.054%	$15K	$606K	50x
Paradex AVAX-USD-PERP	+0.0100%	8h	11.192	−0.034%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.192	−0.036%	$2.3M	$1.5M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.199	+0.029%	$297K	$107K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AVAXUSDT	+0.0100%	8h	11.192	−0.036%	$119.6M	$474.5M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.192	−0.036%	$89.0M	$147.0M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.188	−0.071%	$20.0M	$130.1M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.193	−0.027%	$12.2M	$38.6M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.192	−0.036%	$50.9M	$89.2M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.197	+0.009%	$15.4M	$23.0M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.190	−0.054%	$34.0M	$53.1M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.193	−0.027%	—	$84.1M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.192	−0.036%	$358K	$547K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.188	−0.068%	$3.0M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.209	+0.116%	$353K	$847K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.211	+0.134%	$180K	$687K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.192	−0.036%	$131K	$370K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.196	0.000%	$197K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.226	+0.268%	$12K	$719K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.196	0.000%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.188	−0.075%	$364K	$943K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.194	−0.018%	$30.0M	$5.1M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.189	−0.065%	$671K	$2.0M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.188	−0.070%	$257K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0215%	1h	11.199	+0.031%	$4.3M	$12.5M	50x	as long as short
BloFin AVAX-USDTlong	+0.0220%	8h	11.196	long leg	$5.0M	$6.1M	100x
Reya AVAXRUSDPERP	+0.0244%	1h	11.187	−0.076%	$1K	—	20x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0304%	1h	11.209	+0.116%	$912K	$6.4M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0297%	1h	11.190	−0.052%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0663%	1h	11.209	+0.116%	$43.8M	$48.9M	10x	as long as short