Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0194%/8h= +21.2% APRpaid last 24h +0.061%

Price spread now: GMX against OKX−0.460%7-day average +0.078% · you buy dearer than you sell

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

Long on OKX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.192%+$19 on $10k

Price spread, last 4 days (all we have)+0.443%+$44 · spread now −0.460%, 7d avg +0.078%

Together, before fees+0.635%+$63 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.538% cheaper against OKX than usual: you would sell low and buy high (spread −0.460% now, against its 7-day average of +0.078%). If the spread goes back, that is −$54 on $10k: about 9.2 days of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX AVAX-USDT-SWAP	10.768	0.0100	pay 0.0100% / 8h	7h 54m	$18.8M	$107.0M	50x
Short	GMX AVAX/USD [AVAX-USDC]	10.718	L +0.0443% / S −0.0294%	get 0.0037% / 1h	54m 50s	$226K	—	120x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against OKX. 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 OKXbpFee GMXbpOrdersPrice spread, now −0.460%Rate

Funding earned: $40.74
Price spread: −0.460% → +0.078%: −$53.8
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$35.05
Costs to cover: 0.220%
Break-even: 13.0 days

Slippage unknown: OKX: live order book, 4 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 OKX live order book, 4 min ago	0.47 bp	8.3 bp −$8	14.3 bp −$143	71.0 bp −$7,101	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
Nado AVAX-PERP	−0.0298%	1h	10.709	−0.553%	$289K	$323K	10x	as long as short
Kraken Futures PF_AVAXUSD	−0.0267%	1h	10.721	−0.440%	$3.8M	$11.6M	50x	as long as short
Gate AVAX_USDT	−0.0141%	8h	10.733	−0.325%	$13.4M	$28.4M	75x	as long as short
Variational Omni AVAX	−0.0075%	8h	10.715	−0.495%	$2.9M	$2.1M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.739	−0.268%	$92K	$111K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.717	−0.474%	$4.8M	$6.7M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.718	−0.464%	$12K	—	150x	as long as short
GRVT AVAX_USDT_Perp	+0.0032%	8h	10.719	−0.455%	$345K	$1.2M	10x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	−0.074%	$17K	$151K	12x	as long as short
SoDEX AVAX-USD	+0.0071%	1h	10.717	−0.474%	$18K	$68K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex AVAXUSDT	+0.0072%	1h	10.707	−0.566%	$25K	$465K	50x	as long as short
Phemex AVAXUSDT	+0.0090%	8h	10.720	−0.446%	$28.6M	$5.7M	50x	as long as short
Paradex AVAX-USD-PERP	+0.0093%	8h	10.701	−0.620%	$12K	$212	20x	as long as short
Lighter AVAX	+0.0096%	1h	10.737	−0.288%	$1.2M	$2.0M	10x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.748	−0.186%	$36.8M	$39.9M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.740	−0.257%	$2.2M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.741	−0.249%	$270K	$128K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.742	−0.245%	$113.7M	$400.8M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.768	0.000%	$84.2M	$140.0M	75x	as long as short
OKX AVAX-USDT-SWAPlong	+0.0100%	8h	10.768	long leg	$18.8M	$107.0M	50x
MEXC AVAX_USDT	+0.0100%	8h	10.770	+0.019%	$53.1M	$78.8M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.736	−0.297%	$13.8M	$21.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.737	−0.288%	$32.7M	$45.7M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.737	−0.288%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.731	−0.344%	$437K	$531K	15x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.722	−0.427%	$173K	$662K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.715	−0.492%	$135K	$287K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.723	−0.418%	$232K	$254K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.743	−0.230%	$11K	$770K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.704	−0.598%	$330K	$873K	75x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.734	−0.316%	$601K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.713	−0.515%	$246K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0200%	1h	10.729	−0.362%	$837K	$5.1M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.724	−0.409%	$4.7M	$5.4M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.711	−0.531%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]short	L +0.0443% / S −0.0294%	1h	10.718	−0.460%	$226K	—	120x