Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0336%/8h= −36.8% APRpaid last 24h −0.097%

Price spread now: MEXC against GMX+0.058%7-day average −0.050% · you sell dearer than you buy

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

Long on GMX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.325%−$33 on $10k

Price spread, last 4 days (all we have)+0.131%+$13 · spread now +0.058%, 7d avg −0.050%

Together, before fees−0.194%−$19 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.108% dearer against GMX than usual: you sell high and buy low (spread +0.058% now, against its 7-day average of −0.050%): +$11 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 26 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX AVAX/USD [AVAX-USDC]	11.171	L +0.0436% / S −0.0295%	pay 0.0055% / 1h	31m 05s	$237K	—	120x
Short	MEXC AVAX_USDT	11.177	0.0100	get 0.0100% / 8h	5h 31m	$48.0M	$79.1M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.058%Rate

Funding earned: −$70.65
Price spread: +0.058% → −0.050%: $10.81
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$71.84
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; MEXC: live order book, 3 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 MEXC live order book, 3 min ago	0.45 bp	0.4 bp $0	3.5 bp −$35	43.1 bp −$4,308	89.3 bp −$44.6K

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	−0.1374%	1h	11.120	−0.452%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0083%	1h	11.173	+0.027%	$287K	$448K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.174	+0.030%	$103K	$87K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	11.174	+0.031%	$5.2M	$7.9M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.171	+0.002%	$13K	—	150x	as long as short
Kraken Futures PF_AVAXUSD	+0.0045%	1h	11.179	+0.080%	$4.3M	$11.5M	50x	as long as short
Lighter AVAX	+0.0096%	1h	11.176	+0.051%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.177	+0.058%	$15K	$564K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.174	+0.033%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.177	+0.058%	$2.3M	$1.2M	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	11.176	+0.047%	$291K	$112K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.176	+0.047%	$119.4M	$433.6M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.175	+0.040%	$88.9M	$138.1M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.178	+0.067%	$20.1M	$117.9M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.176	+0.049%	$12.2M	$34.9M	75x	as long as short
MEXC AVAX_USDTshort	+0.0100%	8h	11.177	+0.058%	$48.0M	$79.1M	200x
KuCoin AVAXUSDTM	+0.0100%	8h	11.181	+0.094%	$15.7M	$21.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.174	+0.031%	$33.5M	$48.6M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.175	+0.040%	—	$81.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.178	+0.067%	$357K	$498K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.168	−0.021%	$2.9M	$2.3M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.164	−0.058%	$358K	$801K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.136	−0.309%	$179K	$677K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.176	+0.049%	$131K	$349K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.178	+0.067%	$196K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.203	+0.289%	$12K	$701K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.177	+0.058%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.178	+0.063%	$366K	$870K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.176	+0.049%	$29.9M	$5.6M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.171	+0.002%	$675K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.174	+0.034%	$257K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.169	−0.014%	$5.1M	$5.5M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.184	+0.121%	$902K	$5.5M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.171	0.000%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]long	L +0.0436% / S −0.0295%	1h	11.171	long leg	$237K	—	120x
Hyperliquid AVAX	+0.0488%	1h	11.193	+0.201%	$43.5M	$43.1M	10x	as long as short