Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0336%/8h= −36.8% APRpaid last 24h −0.097%

Price spread now: Binance against GMX−0.021%7-day average −0.053% · you buy dearer than you sell

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

Long on GMX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.320%−$32 on $10k

Price spread, last 3 days (all we have)+0.064%+$6 · spread now −0.021%, 7d avg −0.053%

Together, before fees−0.256%−$26 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.032% dearer against GMX than usual: you sell high and buy low (spread −0.021% now, against its 7-day average of −0.053%): +$3 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 8 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX AVAX/USD [AVAX-USDC]	11.120	L +0.0436% / S −0.0295%	pay 0.0055% / 1h	26m 53s	$236K	—	120x
Short	Binance AVAXUSDT	11.118	0.0100	get 0.0100% / 8h	6h 26m	$118.6M	$460.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against GMX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GMXbpFee BinancebpOrdersPrice spread, now −0.021%Rate

Funding earned: −$70.65
Price spread: −0.021% → −0.053%: $3.23
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$89.42
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Binance: live order book, 2 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Binance live order book, 2 min ago	0.45 bp	6.2 bp −$6	13.5 bp −$135	50.1 bp −$5,006	129.5 bp −$64.8K

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 35 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	−0.1423%	1h	11.080	−0.362%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0049%	1h	11.117	−0.030%	$286K	$509K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0020%	1h	11.115	−0.048%	$5.2M	$8.3M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.117	−0.029%	$102K	$96K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.120	−0.002%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0048%	8h	11.118	−0.021%	$12.1M	$36.6M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.117	−0.030%	$1.2M	$3.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.118	−0.021%	$15K	$595K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.115	−0.044%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.117	−0.032%	$2.3M	$1.4M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AVAX	+0.0100%	1h	11.122	+0.015%	$295K	$107K	10x	as long as short
Binance AVAXUSDTshort	+0.0100%	8h	11.118	−0.021%	$118.6M	$460.5M	75x
Bybit AVAXUSDT	+0.0100%	8h	11.121	+0.006%	$88.6M	$143.6M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.121	+0.006%	$20.0M	$124.1M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.118	−0.021%	$48.8M	$82.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.123	+0.024%	$15.6M	$22.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.112	−0.075%	$33.4M	$51.4M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.118	−0.021%	—	$83.4M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.121	+0.006%	$356K	$535K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.127	+0.058%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.106	−0.129%	$354K	$810K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.110	−0.093%	$179K	$677K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.124	+0.033%	$131K	$363K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.124	+0.033%	$195K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.146	+0.227%	$12K	$718K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.117	−0.030%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.118	−0.016%	$361K	$939K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.119	−0.012%	$29.7M	$5.6M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.112	−0.079%	$671K	$1.7M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.120	−0.004%	$255K	—	3x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.120	−0.005%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.119	−0.011%	$4.3M	$11.9M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0288%	1h	11.120	−0.003%	$903K	$5.9M	50x	as long as short
Hyperliquid AVAX	+0.0407%	1h	11.133	+0.114%	$43.3M	$47.1M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]long	L +0.0436% / S −0.0295%	1h	11.120	long leg	$236K	—	120x