Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0344%/8h= −37.7% APRpaid last 24h −0.088%

Price spread now: KuCoin against GMX−0.091%7-day average −0.045% · you buy dearer than you sell

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

Long on GMX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.339%−$34 on $10k

Price spread, last 4 days (all we have)+0.159%+$16 · spread now −0.091%, 7d avg −0.045%

Together, before fees−0.180%−$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and KuCoin is 0.045% cheaper against GMX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.045%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX AVAX/USD [AVAX-USDC]	10.613	L +0.0444% / S −0.0278%	pay 0.0056% / 1h	33m 17s	$230K	—	120x
Short	KuCoin AVAXUSDTM	10.603	0.0100	get 0.0100% / 8h	2h 33m	$13.3M	$22.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.091%Rate

Funding earned: −$72.3
Price spread: −0.091% → −0.045%: −$4.52
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$100.81
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; KuCoin: live order book, 11 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 KuCoin live order book, 11 min ago	2.36 bp	17.2 bp −$17	28.1 bp −$281	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	−0.1423%	1h	10.760	+1.389%	$17K	$152K	12x	as long as short
Kraken Futures PF_AVAXUSD	−0.0281%	1h	10.612	−0.008%	$4.2M	$11.5M	50x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0127%	1h	10.609	−0.034%	$4.7M	$7.5M	25x	as long as short
Nado AVAX-PERP	−0.0032%	1h	10.604	−0.086%	$290K	$338K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.612	−0.007%	$93K	$111K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.612	−0.003%	$12K	—	150x	as long as short
Variational Omni AVAX	+0.0008%	8h	10.633	+0.191%	$2.8M	$2.1M	—	as long as short
Gate AVAX_USDT	+0.0031%	8h	10.603	−0.091%	$12.1M	$32.5M	75x	as long as short
Polymarket Perps AVAX-USD	+0.0075%	1h	10.607	−0.053%	$132K	$355K	10x	as long as short
Paradex AVAX-USD-PERP	+0.0096%	8h	10.610	−0.020%	$12K	$212	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AVAX	+0.0096%	1h	10.609	−0.034%	$1.2M	$2.6M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.605	−0.072%	$18K	$448K	50x	as long as short
Bybit AVAXUSDT	+0.0097%	8h	10.603	−0.091%	$78.7M	$144.5M	75x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.617	+0.041%	$37.9M	$43.6M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.612	−0.010%	$2.1M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.613	0.000%	$267K	$130K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.613	+0.004%	$112.7M	$430.7M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.607	−0.053%	$18.6M	$112.0M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.612	−0.006%	$42.2M	$79.6M	200x	as long as short
KuCoin AVAXUSDTMshort	+0.0100%	8h	10.603	−0.091%	$13.3M	$22.8M	75x
Bitget AVAXUSDT	+0.0100%	8h	10.603	−0.091%	$31.9M	$49.4M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.613	+0.004%	—	$54.2M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.625	+0.117%	$370K	$538K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.624	+0.109%	$336K	$957K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.654	+0.390%	$172K	$663K	50x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.613	+0.004%	$168K	$339K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.638	+0.242%	$11K	$756K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.609	−0.034%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.609	−0.037%	$343K	$799K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.612	−0.006%	$28.3M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.604	−0.085%	$641K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.604	−0.081%	$244K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0216%	1h	10.610	−0.025%	$836K	$4.8M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.604	−0.081%	$4.6M	$5.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.604	−0.082%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]long	L +0.0444% / S −0.0278%	1h	10.613	long leg	$230K	—	120x