Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.023%

Price spread now: Popdex against Orderly−0.073%7-day average −0.029% · you buy dearer than you sell

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

Long on Orderly Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.057%+$6 on $10k

Price spread, last 4 days (all we have)+0.202%+$20 · spread now −0.073%, 7d avg −0.029%

Together, before fees+0.258%+$26 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 0.044% cheaper against Orderly than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.029%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_AVAX_USDC	10.954	0.0100	pay 0.0100% / 8h	3h 30m	$192K	$310K	20x
Short	Popdex AVAXUSDT	10.946	0.0096	get 0.0012% / 1h	30m 25s	$16K	$452K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against Orderly. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 OrderlybpFee PopdexbpOrdersPrice spread, now −0.073%Rate

Funding earned: −$0.84
Price spread: −0.073% → −0.029%: −$4.42
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$17.66
Costs to cover: 0.124%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Popdex: live order book, 23 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell Popdex live order book, 23 min ago	1.36 bp	5.7 bp −$6	19.6 bp −$196	doesn't fit	doesn't fit

Orderly: 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	−0.1421%	1h	10.900	−0.493%	$17K	$151K	12x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.952	−0.017%	$96K	$97K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.956	+0.018%	$5.0M	$7.8M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.948	−0.055%	$12K	—	150x	as long as short
Kraken Futures PF_AVAXUSD	+0.0020%	1h	10.957	+0.031%	$4.2M	$11.2M	50x	as long as short
Nado AVAX-PERP	+0.0031%	1h	10.944	−0.091%	$284K	$318K	10x	as long as short
Lighter AVAX	+0.0096%	1h	10.946	−0.075%	$1.2M	$2.7M	10x	as long as short
Popdex AVAXUSDTshort	+0.0096%	1h	10.946	−0.073%	$16K	$452K	50x
Paradex AVAX-USD-PERP	+0.0100%	8h	10.934	−0.182%	$12K	$212	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.945	−0.084%	$2.2M	$1.1M	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	10.950	−0.041%	$276K	$131K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.946	−0.073%	$115.1M	$426.9M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.942	−0.110%	$83.2M	$140.6M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.948	−0.055%	$20.0M	$112.9M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	10.946	−0.073%	$12.1M	$32.4M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.947	−0.064%	$45.3M	$78.5M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.948	−0.055%	$15.3M	$21.7M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.944	−0.091%	$33.0M	$47.6M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.945	−0.082%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.953	−0.009%	$372K	$549K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	10.947	−0.068%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.937	−0.151%	$346K	$931K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.940	−0.128%	$176K	$668K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.946	−0.073%	$128K	$343K	10x	as long as short
Orderly PERP_AVAX_USDClong	+0.0100%	8h	10.954	long leg	$192K	$310K	20x
SunX AVAX-USDT	+0.0100%	8h	10.978	+0.218%	$12K	$722K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.953	−0.009%	$18K	$71K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.945	−0.084%	$364K	$770K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.957	+0.027%	$29.2M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.941	−0.121%	$675K	$1.3M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.944	−0.096%	$251K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.947	−0.064%	$4.9M	$5.3M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	10.959	+0.046%	$892K	$5.2M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	10.944	−0.091%	$1K	—	20x	as long as short
Hyperliquid AVAX	+0.0318%	1h	10.960	+0.055%	$42.1M	$41.4M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	10.951	−0.024%	$232K	—	120x	as long as short