Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0335%/8h= −36.7% APRpaid last 24h −0.100%

Price spread now: OKX against GMX−0.121%7-day average −0.089% · you buy dearer than you sell

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

Long on GMX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.324%−$32 on $10k

Price spread, last 3 days (all we have)+0.162%+$16 · spread now −0.121%, 7d avg −0.089%

Together, before fees−0.161%−$16 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 OKX is 0.032% cheaper against GMX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.089%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX AVAX/USD [AVAX-USDC]	11.221	L +0.0435% / S −0.0258%	pay 0.0054% / 1h	56m 44s	$250K	—	120x
Short	OKX AVAX-USDT-SWAP	11.207	0.0100	get 0.0100% / 8h	7h 56m	$20.3M	$142.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.121%Rate

Funding earned: −$70.34
Price spread: −0.121% → −0.089%: −$3.25
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$95.58
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; OKX: live order book, 2 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 OKX live order book, 2 min ago	0.44 bp	9.1 bp −$9	16.8 bp −$168	58.3 bp −$5,829	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	−0.1363%	1h	11.180	−0.362%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0107%	1h	11.215	−0.050%	$5.3M	$8.9M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.222	+0.012%	$103K	$105K	10x	as long as short
Nado AVAX-PERP	+0.0001%	1h	11.216	−0.041%	$296K	$879K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.221	+0.004%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0021%	8h	11.211	−0.085%	$12.5M	$37.4M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.215	−0.053%	$1.2M	$3.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.217	−0.032%	$18K	$663K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.218	−0.021%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.215	−0.046%	$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	11.220	−0.007%	$298K	$118K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.209	−0.106%	$120.1M	$509.8M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.210	−0.094%	$89.4M	$154.4M	75x	as long as short
OKX AVAX-USDT-SWAPshort	+0.0100%	8h	11.207	−0.121%	$20.3M	$142.4M	50x
MEXC AVAX_USDT	+0.0100%	8h	11.210	−0.094%	$49.8M	$87.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.216	−0.041%	$15.6M	$24.0M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.210	−0.094%	$34.2M	$57.5M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.210	−0.094%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.212	−0.077%	$358K	$562K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.228	+0.066%	$3.0M	$2.4M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.230	+0.081%	$362K	$873K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.234	+0.119%	$180K	$688K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.219	−0.014%	$132K	$440K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.224	+0.030%	$204K	$303K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.250	+0.261%	$12K	$735K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.212	−0.077%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.220	−0.010%	$362K	$1.0M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.214	−0.059%	$30.2M	$4.9M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.207	−0.118%	$669K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.220	−0.009%	$258K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0214%	1h	11.218	−0.024%	$4.6M	$12.9M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.211	−0.085%	$5.0M	$6.9M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.215	−0.050%	$1K	—	20x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0304%	1h	11.227	+0.057%	$916K	$7.6M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]long	L +0.0435% / S −0.0258%	1h	11.221	long leg	$250K	—	120x
Hyperliquid AVAX	+0.0675%	1h	11.229	+0.075%	$43.8M	$55.0M	10x	as long as short