Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0156%/8h= +17.0% APRpaid last 24h +0.070%

Price spread now: GMX against Bybit−0.061%7-day average +0.095% · you buy dearer than you sell

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

Long on Bybit Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.198%+$20 on $10k

Price spread, last 3 days (all we have)+0.035%+$4 · spread now −0.061%, 7d avg +0.095%

Together, before fees+0.233%+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.155% cheaper against Bybit than usual: you would sell low and buy high (spread −0.061% now, against its 7-day average of +0.095%). If the spread goes back, that is −$16 on $10k: about 3.3 days of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AVAXUSDT	11.230	0.0100	pay 0.0100% / 8h	1m 53s	$89.5M	$154.8M	75x
Short	GMX AVAX/USD [AVAX-USDC]	11.223	L +0.0433% / S −0.0256%	get 0.0032% / 1h	1m 53s	$250K	—	120x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bybit. 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 BybitbpFee GMXbpOrdersPrice spread, now −0.061%Rate

Funding earned: $32.69
Price spread: −0.061% → +0.095%: −$15.54
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GMX: 6 bp × 2 orders: −$12
Net: −$5.86
Costs to cover: 0.230%
Break-even: 8.3 days

Slippage unknown: Bybit: live order book, 7 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 Bybit live order book, 7 min ago	0.44 bp	7.2 bp −$7	12.8 bp −$128	35.1 bp −$3,507	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
Injective AVAX/USDC PERP	−0.1451%	1h	11.180	−0.445%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0106%	1h	11.225	−0.045%	$5.3M	$8.9M	25x	as long as short
Nado AVAX-PERP	−0.0096%	1h	11.225	−0.049%	$296K	$877K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.231	+0.010%	$103K	$106K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.224	−0.054%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.228	−0.018%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.221	−0.080%	$18K	$663K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.222	−0.069%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.228	−0.015%	$2.3M	$1.7M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.229	−0.013%	$298K	$118K	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	11.228	−0.015%	$120.3M	$510.3M	75x	as long as short
Bybit AVAXUSDTlong	+0.0100%	8h	11.230	long leg	$89.5M	$154.8M	75x
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.227	−0.027%	$20.3M	$143.1M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.229	−0.009%	$12.5M	$40.4M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.229	−0.009%	$50.0M	$93.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.234	+0.036%	$15.6M	$24.1M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.229	−0.009%	$34.3M	$57.6M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.229	−0.009%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.231	+0.009%	$359K	$565K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.226	−0.036%	$3.0M	$2.4M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.228	−0.018%	$362K	$873K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.230	0.000%	$180K	$687K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.223	−0.062%	$132K	$440K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.232	+0.018%	$204K	$303K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.253	+0.205%	$12K	$735K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.227	−0.027%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.223	−0.058%	$363K	$1.0M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.223	−0.062%	$30.2M	$4.9M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.227	−0.028%	$669K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.224	−0.053%	$258K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.227	−0.027%	$5.0M	$7.1M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.219	−0.094%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0270%	1h	11.233	+0.031%	$4.6M	$12.9M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0280%	1h	11.235	+0.045%	$917K	$7.7M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]short	L +0.0433% / S −0.0256%	1h	11.223	−0.061%	$250K	—	120x
Hyperliquid AVAX	+0.0756%	1h	11.247	+0.151%	$43.8M	$55.0M	10x	as long as short