Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0198%/8h= +21.7% APRpaid last 24h +0.042%

Price spread now: GMX against KuCoin−0.001%7-day average +0.054% · you buy dearer than you sell

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

Long on KuCoin Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.158%+$16 on $10k

Price spread, last 3 days (all we have)−0.059%−$6 · spread now −0.001%, 7d avg +0.054%

Together, before fees+0.100%+$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.055% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.001% now, against its 7-day average of +0.054%). If the spread goes back, that is −$5 on $10k: about 22 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin AVAXUSDTM	11.130	0.0100	pay 0.0100% / 8h	7h 33m	$15.4M	$23.3M	75x
Short	GMX AVAX/USD [AVAX-USDC]	11.130	L +0.0436% / S −0.0298%	get 0.0037% / 1h	33m 51s	$235K	—	120x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against KuCoin. 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 KuCoinbpFee GMXbpOrdersPrice spread, now −0.001%Rate

Funding earned: $41.65
Price spread: −0.001% → +0.054%: −$5.47
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $12.18
Costs to cover: 0.240%
Break-even: 5.0 days

Slippage unknown: KuCoin: live order book, 5 min ago; GMX: 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 KuCoin live order book, 5 min ago	0.45 bp	11.1 bp −$11	26.4 bp −$264	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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	11.090	−0.359%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0109%	1h	11.126	−0.036%	$5.3M	$8.6M	25x	as long as short
Nado AVAX-PERP	−0.0053%	1h	11.127	−0.022%	$292K	$831K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.128	−0.015%	$102K	$105K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.130	0.000%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.130	−0.004%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.130	0.000%	$18K	$633K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.124	−0.054%	$13K	$514	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.133	+0.027%	$2.3M	$1.6M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.129	−0.011%	$295K	$106K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AVAXUSDT	+0.0100%	8h	11.126	−0.035%	$118.3M	$488.2M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.127	−0.027%	$88.5M	$149.7M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.125	−0.045%	$19.9M	$134.4M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.126	−0.036%	$12.1M	$38.1M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.127	−0.027%	$48.8M	$88.6M	200x	as long as short
KuCoin AVAXUSDTMlong	+0.0100%	8h	11.130	long leg	$15.4M	$23.3M	75x
Bitget AVAXUSDT	+0.0100%	8h	11.130	0.000%	$33.7M	$55.1M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.125	−0.045%	—	$6.6M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.133	+0.027%	$356K	$558K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.134	+0.034%	$2.9M	$2.3M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.133	+0.025%	$359K	$851K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.135	+0.045%	$179K	$688K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.136	+0.054%	$131K	$376K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.136	+0.054%	$196K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.158	+0.253%	$12K	$725K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.128	−0.018%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.108	−0.193%	$360K	$953K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.130	0.000%	$29.9M	$4.9M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.124	−0.056%	$667K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.124	−0.049%	$256K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0216%	1h	11.134	+0.034%	$4.3M	$12.8M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.125	−0.045%	$5.0M	$6.3M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.128	−0.014%	$1K	—	20x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0304%	1h	11.140	+0.090%	$905K	$6.9M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]short	L +0.0436% / S −0.0298%	1h	11.130	−0.001%	$235K	—	120x
Hyperliquid AVAX	+0.0673%	1h	11.147	+0.153%	$43.5M	$51.0M	10x	as long as short