Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0305%/8h= −33.4% APRpaid last 24h −0.130%

Price spread now: Orderly against GMX+0.068%7-day average −0.016% · you sell dearer than you buy

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

Long on GMX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.358%−$36 on $10k

Price spread, last 3 days (all we have)−0.137%−$14 · spread now +0.068%, 7d avg −0.016%

Together, before fees−0.495%−$50 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Orderly is 0.084% dearer against GMX than usual: you sell high and buy low (spread +0.068% now, against its 7-day average of −0.016%): +$8 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 22 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX AVAX/USD [AVAX-USDC]	11.260	L +0.0405% / S −0.0245%	pay 0.0051% / 1h	29m 37s	$243K	—	120x
Short	Orderly PERP_AVAX_USDC	11.268	0.0100	get 0.0100% / 8h	2h 29m	$203K	$302K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.068%Rate

Funding earned: −$64.14
Price spread: +0.068% → −0.016%: $8.43
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$73.71
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Orderly: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—

GMX and Orderly: 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
Variational Omni AVAX	−0.0142%	8h	11.251	−0.083%	$2.9M	$2.1M	—	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0105%	1h	11.261	+0.006%	$5.3M	$9.4M	25x	as long as short
Nado AVAX-PERP	−0.0100%	1h	11.274	+0.119%	$298K	$960K	10x	as long as short
Injective AVAX/USDC PERP	−0.0043%	1h	11.100	−1.424%	$17K	$127K	12x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.278	+0.156%	$99K	$115K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.262	+0.015%	$13K	—	150x	as long as short
Extended AVAX-USD	+0.0016%	1h	11.271	+0.091%	$672K	$2.3M	25x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0056%	1h	11.275	+0.130%	$914K	$8.2M	50x	as long as short
Gate AVAX_USDT	+0.0058%	8h	11.272	+0.104%	$12.7M	$40.0M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0059%	8h	11.269	+0.077%	$20.1M	$148.3M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex AVAXUSDT	+0.0062%	8h	11.276	+0.139%	$30.2M	$4.8M	50x	as long as short
MEXC AVAX_USDT	+0.0077%	8h	11.272	+0.104%	$55.1M	$109.5M	200x	as long as short
Binance AVAXUSDT	+0.0080%	8h	11.271	+0.099%	$120.9M	$537.9M	75x	as long as short
Bybit AVAXUSDT	+0.0086%	8h	11.274	+0.121%	$88.1M	$153.8M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.272	+0.104%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.272	+0.104%	$9K	$700K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0096%	8h	11.271	+0.091%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.276	+0.135%	$2.3M	$1.9M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.275	+0.130%	$300K	$122K	10x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.278	+0.157%	$16.1M	$24.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.272	+0.104%	$34.7M	$61.0M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.271	+0.095%	—	$6.6M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.276	+0.139%	$334K	$562K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.246	−0.124%	$356K	$910K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.249	−0.101%	$181K	$684K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.274	+0.121%	$131K	$483K	10x	as long as short
Orderly PERP_AVAX_USDCshort	+0.0100%	8h	11.268	+0.068%	$203K	$302K	20x
SunX AVAX-USDT	+0.0100%	8h	11.290	+0.261%	$12K	$715K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.260	−0.003%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.267	+0.062%	$362K	$1.1M	75x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.256	−0.040%	$259K	—	3x	as long as short
BloFin AVAX-USDT	+0.0198%	8h	11.246	−0.127%	$5.0M	$8.5M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.269	+0.077%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.271	+0.096%	$4.7M	$13.7M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]long	L +0.0405% / S −0.0245%	1h	11.260	long leg	$243K	—	120x
Hyperliquid AVAX	+0.0549%	1h	11.289	+0.255%	$43.7M	$58.5M	10x	as long as short