Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Popdex against Lighter+0.131%7-day average +0.035% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$250.245% of the position

Long on Lighter Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.017%+$2 on $10k

Price spread, last 4 days (all we have)−0.111%−$11 · spread now +0.131%, 7d avg +0.035%

Together, before fees−0.095%+ Points / potential airdropLighter: Season 3 · farm board−$9 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 0.096% dearer against Lighter than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter AVAX	10.643	0.0096	pay 0.0012% / 1h	35m 42s	$1.2M	$2.6M	10x
Short	Popdex AVAXUSDT	10.657	0.0096	get 0.0012% / 1h	35m 42s	$18K	$448K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against Lighter. 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 LighterbpFee PopdexbpOrdersPrice spread, now +0.131%Rate

Funding earned: $0
Price spread: +0.131% → +0.035%: $9.55
Slippage, 4 orders: −$18.14
Fee Lighter: 0 bp × 2 orders: $0
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$14.99
Costs to cover: 0.245%
Break-even: 30804972306513252.0 days

Slippage from Lighter: live order book, 6 min ago; Popdex: live order book, 13 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 Lighter live order book, 6 min ago	4.29 bp	4.4 bp −$4	8.7 bp −$87	91.6 bp −$9,157	doesn't fit
Sell Popdex live order book, 13 min ago	1.89 bp	7.0 bp −$7	21.3 bp −$213	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	+1.098%	$17K	$152K	12x	as long as short
Kraken Futures PF_AVAXUSD	−0.0280%	1h	10.641	−0.017%	$4.2M	$11.5M	50x	as long as short
Nado AVAX-PERP	−0.0019%	1h	10.652	+0.079%	$291K	$338K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.649	+0.052%	$88K	$106K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.640	−0.029%	$4.8M	$7.5M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.646	+0.027%	$12K	—	150x	as long as short
Variational Omni AVAX	+0.0008%	8h	10.633	−0.096%	$2.8M	$2.1M	—	as long as short
Gate AVAX_USDT	+0.0034%	8h	10.644	+0.008%	$12.1M	$32.5M	75x	as long as short
Polymarket Perps AVAX-USD	+0.0077%	1h	10.649	+0.055%	$133K	$355K	10x	as long as short
Lighter AVAXlong	+0.0096%	1h	10.643	long leg	$1.2M	$2.6M	10x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex AVAXUSDTshort	+0.0096%	1h	10.657	+0.131%	$18K	$448K	50x
Paradex AVAX-USD-PERP	+0.0096%	8h	10.649	+0.053%	$12K	$212	20x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.654	+0.100%	$38.1M	$43.5M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.653	+0.096%	$2.1M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.650	+0.065%	$268K	$130K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.657	+0.131%	$113.2M	$430.9M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.641	−0.020%	$78.8M	$144.3M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.645	+0.018%	$18.7M	$112.3M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.648	+0.046%	$42.4M	$79.5M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.643	−0.001%	$13.3M	$22.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.651	+0.074%	$32.1M	$49.5M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.654	+0.102%	—	$54.3M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.642	−0.010%	$370K	$538K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.624	−0.178%	$336K	$957K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.568	−0.706%	$171K	$663K	50x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.646	+0.027%	$168K	$339K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.680	+0.342%	$12K	$755K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.639	−0.039%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.649	+0.051%	$344K	$794K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.646	+0.027%	$28.4M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.642	−0.008%	$641K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.640	−0.025%	$244K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0216%	1h	10.638	−0.048%	$839K	$4.8M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.637	−0.057%	$4.7M	$5.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	10.641	−0.016%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0266%	1h	10.646	+0.024%	$235K	—	120x	as long as short