Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.016%

Price spread now: Popdex against OKX+0.045%7-day average +0.044% · 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−$27as in the Price arb table

costs, in and out, $10k−$270.274% of the position

Long on OKX Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.011%+$1 on $10k

Price spread, last 4 days (all we have)−0.020%−$2 · spread now +0.045%, 7d avg +0.044%

Together, before fees−0.010%−$1 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX AVAX-USDT-SWAP	11.154	0.0100	pay 0.0100% / 8h	4h 44m	$20.4M	$116.3M	50x
Short	Popdex AVAXUSDT	11.159	0.0096	get 0.0012% / 1h	44m 23s	$16K	$580K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now +0.045%Rate

Funding earned: −$0.84
Price spread: +0.045% → +0.044%: $0.09
Slippage, 4 orders: −$11.04
Fee OKX: 5 bp × 2 orders: −$10
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$28.19
Costs to cover: 0.274%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; Popdex: live order book, 15 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 OKX live order book, 5 min ago	0.45 bp	8.5 bp −$9	15.1 bp −$151	67.2 bp −$6,718	doesn't fit
Sell Popdex live order book, 15 min ago	2.24 bp	6.3 bp −$6	15.5 bp −$155	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	11.030	−1.112%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0020%	1h	11.151	−0.022%	$287K	$373K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.147	−0.060%	$98K	$97K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	11.146	−0.072%	$5.2M	$7.9M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.154	+0.001%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.149	−0.041%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDTshort	+0.0096%	1h	11.159	+0.045%	$16K	$580K	50x
Paradex AVAX-USD-PERP	+0.0100%	8h	11.147	−0.066%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.155	+0.012%	$2.3M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.151	−0.027%	$291K	$114K	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	11.157	+0.029%	$118.3M	$427.2M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.154	0.000%	$88.6M	$137.5M	75x	as long as short
OKX AVAX-USDT-SWAPlong	+0.0100%	8h	11.154	long leg	$20.4M	$116.3M	50x
Gate AVAX_USDT	+0.0100%	8h	11.160	+0.054%	$12.2M	$34.0M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.159	+0.045%	$48.1M	$77.5M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.165	+0.099%	$15.8M	$21.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.156	+0.018%	$33.5M	$48.1M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.153	−0.009%	—	$80.0M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.146	−0.072%	$337K	$520K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.137	−0.148%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.100	−0.484%	$354K	$835K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.119	−0.314%	$179K	$673K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.163	+0.081%	$131K	$337K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.161	+0.063%	$196K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.180	+0.230%	$11K	$705K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.147	−0.063%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.146	−0.076%	$367K	$829K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.149	−0.045%	$29.8M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.150	−0.035%	$680K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.153	−0.009%	$256K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0211%	1h	11.150	−0.040%	$4.3M	$11.3M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.147	−0.063%	$5.1M	$5.4M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.155	+0.009%	$892K	$5.3M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.159	+0.049%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.155	+0.013%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0655%	1h	11.173	+0.170%	$43.5M	$42.3M	10x	as long as short