Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0331%/8h= −36.3% APRpaid last 24h −0.093%

Price spread now: Bitget against GMX+0.098%7-day average −0.087% · you sell dearer than you buy

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

Long on GMX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.315%−$32 on $10k

Price spread, last 3 days (all we have)−0.042%−$4 · spread now +0.098%, 7d avg −0.087%

Together, before fees−0.357%−$36 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.185% dearer against GMX than usual: you sell high and buy low (spread +0.098% now, against its 7-day average of −0.087%): +$18 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 45 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX AVAX/USD [AVAX-USDC]	11.235	L +0.0431% / S −0.0254%	pay 0.0054% / 1h	7m 45s	$250K	—	120x
Short	Bitget AVAXUSDT	11.246	0.0100	get 0.0100% / 8h	7m 45s	$34.3M	$57.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.098%Rate

Funding earned: −$69.6
Price spread: +0.098% → −0.087%: $18.49
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$75.1
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Bitget: live order book, 1 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 Bitget live order book, 1 min ago	0.44 bp	8.6 bp −$9	15.2 bp −$152	37.1 bp −$3,714	doesn't fit

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	−0.490%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0106%	1h	11.231	−0.036%	$5.3M	$8.9M	25x	as long as short
Nado AVAX-PERP	−0.0098%	1h	11.228	−0.058%	$296K	$877K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.229	−0.057%	$103K	$106K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.239	+0.036%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.246	+0.101%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.232	−0.027%	$18K	$663K	50x	as long as short
Variational Omni AVAX	+0.0099%	8h	11.203	−0.286%	$3.0M	$2.4M	—	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.229	−0.058%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.246	+0.095%	$2.3M	$1.7M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AVAX	+0.0100%	1h	11.232	−0.026%	$298K	$118K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.245	+0.088%	$120.5M	$510.8M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.248	+0.116%	$89.7M	$154.8M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.245	+0.089%	$20.3M	$143.5M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.246	+0.098%	$12.5M	$40.4M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.244	+0.080%	$50.2M	$93.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.234	−0.009%	$15.6M	$24.1M	75x	as long as short
Bitget AVAXUSDTshort	+0.0100%	8h	11.246	+0.098%	$34.3M	$57.7M	75x
BingX AVAX-USDC	+0.0100%	8h	11.247	+0.107%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.237	+0.018%	$359K	$563K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.213	−0.196%	$351K	$862K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.226	−0.080%	$180K	$686K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.235	0.000%	$132K	$440K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.243	+0.071%	$204K	$303K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.260	+0.222%	$12K	$735K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.233	−0.018%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.231	−0.037%	$363K	$1.0M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.231	−0.036%	$30.2M	$4.9M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.227	−0.073%	$669K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.232	−0.027%	$258K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.218	−0.151%	$5.0M	$7.1M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.230	−0.040%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0270%	1h	11.240	+0.045%	$4.6M	$13.0M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0280%	1h	11.217	−0.160%	$913K	$7.7M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]long	L +0.0431% / S −0.0254%	1h	11.235	long leg	$250K	—	120x
Hyperliquid AVAX	+0.0776%	1h	11.263	+0.249%	$43.9M	$55.0M	10x	as long as short