Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.010%

Price spread now: GRVT against dYdX−0.174%50s7-day average +0.061% · you buy dearer than you sell

Net, funding: paid 7d − costs−$333as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$3513.506% of the position

Long on dYdX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.176%+$18 on $10k

Price spread, last 4 days (all we have)+0.447%+$45 · spread now −0.174%, 7d avg +0.061%

Together, before fees+0.623%+ Points / potential airdropGRVT: Active · farm board+$62 on $10k · with fees, hour by hour

Funding pays, the price is against you. GRVT is 0.236% cheaper against dYdX than usual: you would sell low and buy high (spread −0.174% now, against its 7-day average of +0.061%). If the spread goes back, that is −$24 on $10k: about 7.9 days of funding at the current rate (+$3 a day). The two prices were read 50 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	dYdX AVAX-USD	11.207	0	get 0.0000% / 1h	12m 24s	$103K	$105K	10x
Short	GRVT AVAX_USDT_Perp	11.187	0.0100	get 0.0100% / 8h	7h 12m	$353K	$847K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against dYdX. 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 dYdXbpFee GRVTbpOrdersPrice spread, now −0.174%Rate

Funding earned: $21
Price spread: −0.174% → +0.061%: −$23.58
Slippage, 4 orders: −$331.59
Fee dYdX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$353.17
Costs to cover: 3.506%
Break-even: 124.7 days

Slippage from dYdX: live order book, 61 min ago; GRVT: live order book, 61 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 dYdX live order book, 61 min ago	146.82 bp	151.8 bp −$152	151.8 bp −$1,518	154.5 bp −$15.5K	156.6 bp −$78.3K
Sell GRVT live order book, 61 min ago	1.34 bp	8.6 bp −$9	14.7 bp −$147	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	11.140	−0.595%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0060%	1h	11.218	+0.105%	$294K	$728K	10x	as long as short
dYdX AVAX-USDlong	0.0000%	1h	11.207	long leg	$103K	$105K	10x
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	11.200	−0.060%	$5.3M	$8.5M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.216	+0.087%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.209	+0.022%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.211	+0.038%	$15K	$610K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.215	+0.077%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.216	+0.082%	$2.3M	$1.5M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.213	+0.057%	$298K	$100K	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	11.214	+0.066%	$119.7M	$475.9M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.215	+0.074%	$89.1M	$147.7M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.216	+0.083%	$20.0M	$130.9M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.214	+0.065%	$12.2M	$38.3M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.213	+0.056%	$48.9M	$88.9M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.216	+0.083%	$15.4M	$23.0M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.214	+0.065%	$34.0M	$53.3M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.218	+0.101%	—	$84.3M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.200	−0.060%	$358K	$548K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.178	−0.258%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perpshort	+0.0100%	8h	11.187	−0.174%	$353K	$847K	10x
ApeX Omni AVAXUSDT	+0.0100%	1h	11.190	−0.149%	$180K	$688K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.216	+0.083%	$132K	$372K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.207	+0.003%	$197K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.232	+0.225%	$12K	$719K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.198	−0.078%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.196	−0.092%	$363K	$938K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.199	−0.069%	$30.0M	$5.1M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.215	+0.074%	$671K	$2.0M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.196	−0.092%	$257K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0215%	1h	11.202	−0.042%	$4.3M	$12.5M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.196	−0.096%	$5.0M	$6.2M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.212	+0.046%	$1K	—	20x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0304%	1h	11.209	+0.020%	$912K	$6.5M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0298%	1h	11.201	−0.049%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0679%	1h	11.232	+0.226%	$43.9M	$49.6M	10x	as long as short