Funding arb · Price arb /

AVAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.002%

Price spread now: Popdex against KuCoin−0.081%7-day average +0.014% · 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−$53as in the Price arb table

costs, in and out, $10k−$430.433% of the position

Long on KuCoin Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.008%+$1 on $10k

Price spread, last 4 days (all we have)+0.105%+$11 · spread now −0.081%, 7d avg +0.014%

Together, before fees+0.113%+$11 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Popdex is 0.094% cheaper against KuCoin than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin AVAXUSDTM	11.179	0.0100	pay 0.0100% / 8h	7h 54m	$15.5M	$24.0M	75x
Short	Popdex AVAXUSDT	11.170	0.0096	get 0.0012% / 1h	54m 30s	$18K	$653K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now −0.081%Rate

Funding earned: −$0.84
Price spread: −0.081% → +0.014%: −$9.41
Slippage, 4 orders: −$24.86
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$53.51
Costs to cover: 0.433%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; Popdex: live order book, 20 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 KuCoin live order book, 4 min ago	0.44 bp	16.3 bp −$16	29.4 bp −$294	doesn't fit	doesn't fit
Sell Popdex live order book, 20 min ago	0.45 bp	4.5 bp −$5	9.1 bp −$91	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	−0.1363%	1h	11.180	+0.009%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0288%	1h	11.151	−0.250%	$5.3M	$8.8M	25x	as long as short
Gate AVAX_USDT	−0.0141%	8h	11.171	−0.072%	$12.3M	$37.7M	75x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.168	−0.097%	$103K	$105K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.178	−0.008%	$13K	—	150x	as long as short
Nado AVAX-PERP	+0.0010%	1h	11.163	−0.143%	$293K	$873K	10x	as long as short
Lighter AVAX	+0.0096%	1h	11.168	−0.100%	$1.2M	$3.0M	10x	as long as short
Popdex AVAXUSDTshort	+0.0096%	1h	11.170	−0.081%	$18K	$653K	50x
Paradex AVAX-USD-PERP	+0.0100%	8h	11.169	−0.088%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.172	−0.064%	$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	11.170	−0.080%	$297K	$118K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.172	−0.063%	$119.7M	$507.5M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.173	−0.054%	$88.9M	$154.2M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.170	−0.081%	$20.2M	$140.7M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.174	−0.045%	$49.5M	$87.8M	200x	as long as short
KuCoin AVAXUSDTMlong	+0.0100%	8h	11.179	long leg	$15.5M	$24.0M	75x
Bitget AVAXUSDT	+0.0100%	8h	11.171	−0.072%	$33.9M	$57.3M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.171	−0.072%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.161	−0.161%	$357K	$563K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.210	+0.277%	$3.0M	$2.4M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.219	+0.358%	$361K	$863K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.217	+0.340%	$180K	$688K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.178	−0.009%	$131K	$440K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.167	−0.107%	$203K	$303K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.195	+0.143%	$12K	$735K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.155	−0.215%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.168	−0.103%	$361K	$997K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.161	−0.161%	$30.0M	$4.9M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.167	−0.108%	$666K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.174	−0.047%	$257K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0216%	1h	11.162	−0.155%	$4.5M	$12.9M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.163	−0.143%	$5.0M	$6.7M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.172	−0.063%	$1K	—	20x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0304%	1h	11.170	−0.081%	$910K	$7.5M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0435% / S −0.0259%	1h	11.165	−0.124%	$249K	—	120x	as long as short
Hyperliquid AVAX	+0.0628%	1h	11.189	+0.090%	$43.7M	$53.5M	10x	as long as short