AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0377%/8h= +41.2% APRnext payment +$0.47 per $10,000 · paid last 24h −0.004%

Price spread now: Popdex against Kraken Futures−0.113%7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$400.403% of the position

Long on Kraken Futures Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.020%+$2 on $10k

Price spread, last 4 days (all we have)+0.274%+$27 · spread now −0.113%, 7d avg −0.034%

Together, before fees+0.294%+$29 on $10k · with fees, hour by hour

Funding pays, the price is against you. Popdex is 0.079% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.113% now, against its 7-day average of −0.034%). If the spread goes back, that is −$8 on $10k: about 17 hours of funding at the current rate (+$11 a day). At the pace of the last 4 days (+0.020% in total) that is about 14 days.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.020% in total (about 2.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.47 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_AVAXUSD	10.632	−0.0281	get 0.0035% / 1h	51m 11s	$4.1M	$11.1M	50x
Short	Popdex AVAXUSDT	10.620	0.0096	get 0.0012% / 1h	51m 11s	$9K	$442K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against Kraken Futures. 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 Kraken FuturesbpFee PopdexbpOrdersPrice spread, now −0.113%Rate

Funding earned: $79.1
Price spread: −0.113% → −0.034%: −$7.89
Slippage, 4 orders: −$23.94
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: $30.87
Costs to cover: 0.403%
Break-even: 4.3 days

Slippage from Kraken Futures: live order book, 3 min ago; Popdex: live order book, 63 min ago.

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 Kraken Futures live order book, 3 min ago	3.75 bp	13.9 bp −$14	20.1 bp −$201	61.4 bp −$6,142	doesn't fit
Sell Popdex live order book, 63 min ago	1.36 bp	5.7 bp −$6	19.6 bp −$196	doesn't fit	doesn't fit

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	+1.203%	$17K	$152K	12x	as long as short
Kraken Futures PF_AVAXUSDlong	−0.0281%	1h	10.632	long leg	$4.1M	$11.1M	50x
ApeX Omni AVAXUSDT	−0.0251%	1h	10.655	+0.216%	$172K	$666K	50x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0032%	1h	10.628	−0.038%	$4.8M	$7.6M	25x	as long as short
Polymarket Perps AVAX-USD	−0.0028%	1h	10.622	−0.095%	$131K	$345K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.629	−0.029%	$93K	$101K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.625	−0.065%	$12K	—	150x	as long as short
Gate AVAX_USDT	+0.0015%	8h	10.628	−0.038%	$12.0M	$31.6M	75x	as long as short
Backpack AVAX_USDC_PERP	+0.0036%	1h	10.639	+0.065%	$370K	$534K	15x	as long as short
Variational Omni AVAX	+0.0052%	8h	10.727	+0.890%	$2.8M	$2.2M	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex AVAX-USD-PERP	+0.0096%	8h	10.604	−0.261%	$12K	$212	20x	as long as short
Lighter AVAX	+0.0096%	1h	10.627	−0.048%	$1.2M	$2.6M	10x	as long as short
Popdex AVAXUSDTshort	+0.0096%	1h	10.620	−0.113%	$9K	$442K	50x
SoDEX AVAX-USD	+0.0099%	1h	10.628	−0.038%	$18K	$72K	10x	as long as short
Nado AVAX-PERP	+0.0100%	1h	10.610	−0.207%	$281K	$322K	10x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.645	+0.122%	$38.4M	$42.9M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.621	−0.101%	$2.1M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.629	−0.029%	$268K	$130K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.632	0.000%	$111.4M	$424.2M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.632	0.000%	$79.0M	$142.8M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.636	+0.037%	$19.1M	$109.4M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.639	+0.065%	$41.2M	$78.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.636	+0.037%	$13.3M	$22.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.634	+0.018%	$31.5M	$48.6M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.639	+0.065%	—	$6.5M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.654	+0.204%	$336K	$950K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.633	+0.009%	$187K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.656	+0.226%	$11K	$737K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.627	−0.043%	$352K	$787K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.634	+0.018%	$28.4M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.622	−0.098%	$642K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.625	−0.066%	$244K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0216%	1h	10.621	−0.104%	$860K	$4.7M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.629	−0.029%	$4.7M	$5.5M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	10.618	−0.129%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0271%	1h	10.623	−0.088%	$232K	—	120x	as long as short