Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0198%/8h= −21.6% APRpaid last 24h −0.071%

Price spread now: BloFin against GMX−0.007%7-day average −0.037% · you buy dearer than you sell

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

Long on GMX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.222%−$22 on $10k

Price spread, last 3 days (all we have)−0.049%−$5 · spread now −0.007%, 7d avg −0.037%

Together, before fees−0.270%−$27 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.030% dearer against GMX than usual: you sell high and buy low (spread −0.007% now, against its 7-day average of −0.037%): +$3 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 12 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX AVAX/USD [AVAX-USDC]	11.249	L +0.0418% / S −0.0269%	pay 0.0052% / 1h	48m 41s	$237K	—	120x
Short	BloFin AVAX-USDT	11.248	0.0220	get 0.0220% / 8h	48m 41s	$5.0M	$7.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.007%Rate

Funding earned: −$41.48
Price spread: −0.007% → −0.037%: $3.03
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$62.44
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; BloFin: live order book, 5 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 BloFin live order book, 5 min ago	1.33 bp	10.0 bp −$10	18.9 bp −$189	48.8 bp −$4,883	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	11.200	−0.434%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0106%	1h	11.242	−0.060%	$5.3M	$9.0M	25x	as long as short
Nado AVAX-PERP	−0.0093%	1h	11.247	−0.011%	$297K	$885K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.250	+0.010%	$104K	$111K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.249	+0.002%	$13K	—	150x	as long as short
Variational Omni AVAX	+0.0051%	8h	11.270	+0.190%	$3.0M	$2.4M	—	as long as short
Lighter AVAX	+0.0096%	1h	11.251	+0.016%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.249	+0.002%	$18K	$677K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.243	−0.049%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.250	+0.007%	$2.3M	$1.8M	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	11.254	+0.047%	$299K	$118K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.248	−0.002%	$120.5M	$519.1M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.246	−0.025%	$89.5M	$156.1M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.244	−0.042%	$20.2M	$145.0M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.248	−0.007%	$12.3M	$40.1M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.249	+0.002%	$51.8M	$93.0M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.256	+0.064%	$15.8M	$24.4M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.248	−0.007%	$34.3M	$59.2M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.250	+0.011%	—	$87.0M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.243	−0.051%	$359K	$569K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.271	+0.199%	$360K	$864K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.276	+0.242%	$181K	$685K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.250	+0.011%	$134K	$439K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.252	+0.029%	$204K	$303K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.282	+0.295%	$12K	$733K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.244	−0.042%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.251	+0.015%	$364K	$1.0M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.245	−0.033%	$30.2M	$5.0M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.248	−0.007%	$672K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.240	−0.081%	$258K	—	3x	as long as short
BloFin AVAX-USDTshort	+0.0220%	8h	11.248	−0.007%	$5.0M	$7.7M	100x
Reya AVAXRUSDPERP	+0.0244%	1h	11.247	−0.015%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0270%	1h	11.251	+0.018%	$4.6M	$13.3M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0280%	1h	11.256	+0.064%	$917K	$8.1M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]long	L +0.0418% / S −0.0269%	1h	11.249	long leg	$237K	—	120x
Hyperliquid AVAX	+0.0830%	1h	11.274	+0.224%	$43.7M	$55.3M	10x	as long as short