Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0343%/8h= −37.6% APRpaid last 24h −0.098%

Price spread now: BingX against GMX−0.013%7-day average −0.074% · you buy dearer than you sell

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

Long on GMX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.336%−$34 on $10k

Price spread, last 4 days (all we have)+0.057%+$6 · spread now −0.013%, 7d avg −0.074%

Together, before fees−0.280%−$28 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.062% dearer against GMX than usual: you sell high and buy low (spread −0.013% now, against its 7-day average of −0.074%): +$6 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 14 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX AVAX/USD [AVAX-USDC]	10.713	L +0.0443% / S −0.0294%	pay 0.0055% / 1h	0m 33s	$226K	—	120x
Short	BingX AVAX-USDT	10.712	0.0100	get 0.0100% / 8h	0m 33s	—	$53.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.013%Rate

Funding earned: −$72.13
Price spread: −0.013% → −0.074%: $6.16
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$87.97
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; BingX: live order book, 8 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 BingX live order book, 8 min ago	0.47 bp	5.5 bp −$5	6.5 bp −$65	10.2 bp −$1,018	24.0 bp −$12.0K

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	−0.0216%	1h	10.712	−0.013%	$289K	$326K	10x	as long as short
Kraken Futures PF_AVAXUSD	−0.0184%	1h	10.713	−0.003%	$3.8M	$11.5M	50x	as long as short
Variational Omni AVAX	−0.0078%	8h	10.706	−0.068%	$2.9M	$2.1M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.714	+0.003%	$91K	$111K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.714	+0.006%	$4.8M	$6.7M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.714	+0.006%	$12K	—	150x	as long as short
Gate AVAX_USDT	+0.0008%	8h	10.706	−0.069%	$13.3M	$30.9M	75x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	+0.435%	$17K	$151K	12x	as long as short
Paradex AVAX-USD-PERP	+0.0092%	8h	10.711	−0.021%	$12K	$212	20x	as long as short
Lighter AVAX	+0.0096%	1h	10.711	−0.018%	$1.2M	$2.4M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex AVAXUSDT	+0.0096%	1h	10.713	−0.003%	$25K	$465K	50x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.716	+0.025%	$36.8M	$40.7M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.713	+0.001%	$2.2M	$888K	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.718	+0.045%	$269K	$128K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.713	−0.003%	$113.3M	$402.4M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.711	−0.022%	$81.9M	$138.8M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.713	−0.003%	$18.8M	$106.9M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.715	+0.015%	$52.9M	$81.0M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.711	−0.022%	$13.8M	$21.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.713	−0.003%	$32.7M	$46.2M	75x	as long as short
BingX AVAX-USDTshort	+0.0100%	8h	10.712	−0.013%	—	$53.3M	—
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.717	+0.034%	$436K	$545K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.706	−0.070%	$336K	$1.2M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.713	−0.003%	$173K	$662K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.714	+0.006%	$135K	$297K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.718	+0.043%	$232K	$254K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.732	+0.178%	$12K	$770K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.709	−0.041%	$18K	$68K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.709	−0.045%	$326K	$857K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.714	+0.006%	$28.6M	$5.7M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.710	−0.027%	$605K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.711	−0.017%	$246K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.712	−0.013%	$4.7M	$5.4M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0224%	1h	10.721	+0.071%	$851K	$4.7M	50x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.711	−0.021%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]long	L +0.0443% / S −0.0294%	1h	10.713	long leg	$226K	—	120x