Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0296%/8h= −32.4% APRpaid last 24h −0.102%

Price spread now: GRVT against GMX0.000%69s7-day average −0.018% · you sell dearer than you buy

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

Long on GMX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.318%−$32 on $10k

Price spread, last 3 days (all we have)+0.014%+$1 · spread now 0.000%, 7d avg −0.018%

Together, before fees−0.305%+ Points / potential airdropGRVT: Active · farm board−$30 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.018%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate. The two prices were read 69 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	GMX AVAX/USD [AVAX-USDC]	11.254	L +0.0396% / S −0.0236%	pay 0.0049% / 1h	36m 02s	$237K	—	120x
Short	GRVT AVAX_USDT_Perp	11.254	0.0100	get 0.0100% / 8h	1h 36m	$359K	$898K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against GMX. 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 GMXbpFee GRVTbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$62.14
Price spread: 0.000% → −0.018%: $1.83
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$81.32
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; GRVT: live order book, 47 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 GRVT live order book, 47 min ago	0.44 bp	10.1 bp −$10	22.1 bp −$221	doesn't fit	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	−0.0570%	1h	11.220	−0.302%	$17K	$151K	12x	as long as short
Variational Omni AVAX	−0.0031%	8h	11.242	−0.105%	$3.0M	$2.4M	—	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0017%	1h	11.253	−0.009%	$5.3M	$9.2M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.257	+0.031%	$99K	$107K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0004%	1h	11.255	+0.012%	$16K	—	150x	as long as short
Nado AVAX-PERP	+0.0004%	1h	11.255	+0.009%	$297K	$896K	10x	as long as short
Lighter AVAX	+0.0096%	1h	11.253	−0.011%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.257	+0.027%	$16K	$694K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0099%	8h	11.255	+0.008%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.255	+0.008%	$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	11.261	+0.062%	$299K	$120K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.248	−0.053%	$120.2M	$526.3M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.248	−0.053%	$88.2M	$157.2M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.250	−0.035%	$20.2M	$146.6M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.251	−0.027%	$12.6M	$40.1M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.251	−0.027%	$52.2M	$99.9M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.256	+0.018%	$16.7M	$24.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.250	−0.035%	$34.3M	$60.3M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.252	−0.018%	—	$89.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.252	−0.018%	$359K	$571K	15x	as long as short
GRVT AVAX_USDT_Perpshort	+0.0100%	8h	11.254	0.000%	$359K	$898K	10x
ApeX Omni AVAXUSDT	+0.0100%	1h	11.258	+0.036%	$181K	$686K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.256	+0.018%	$134K	$459K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.263	+0.080%	$203K	$301K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.284	+0.269%	$12K	$729K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.251	−0.027%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.254	−0.004%	$363K	$1.1M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.254	0.000%	$30.3M	$5.0M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.251	−0.025%	$669K	$2.2M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.190	−0.569%	$257K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0192%	1h	11.278	+0.213%	$910K	$8.3M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.256	+0.018%	$5.0M	$8.0M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.252	−0.017%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]long	L +0.0396% / S −0.0236%	1h	11.254	long leg	$237K	—	120x
Hyperliquid AVAX	+0.0581%	1h	11.270	+0.142%	$43.6M	$57.1M	10x	as long as short
Kraken Futures PF_AVAXUSD	+0.0628%	1h	11.257	+0.027%	$4.6M	$13.5M	50x	as long as short