AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.00 per $10,000 · paid last 24h −0.020%

Price spread now: Backpack against Popdex+0.259%7-day average +0.003% · 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−$7as in the Price arb table

costs, in and out, $10k−$330.331% of the position

Long on Popdex Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.053%−$5 on $10k

Price spread, last 4 days (all we have)−0.284%−$28 · spread now +0.259%, 7d avg +0.003%

Together, before fees−0.336%−$34 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: Backpack is 0.256% dearer against Popdex than usual: you sell high and buy low, +$26 on $10k if it goes back to its 7-day average of +0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex AVAXUSDT	11.203	0.0096	pay 0.0012% / 1h	37m 48s	$13K	$697K	50x
Short	Backpack AVAX_USDC_PERP	11.232	0.0100	get 0.0013% / 1h	37m 48s	$333K	$557K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Popdex. 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 PopdexbpFee BackpackbpOrdersPrice spread, now +0.259%Rate

Funding earned: $0.84
Price spread: +0.259% → +0.003%: $25.62
Slippage, 4 orders: −$16.72
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$6.66
Costs to cover: 0.331%
Break-even: 62.5 days

Slippage from Popdex: live order book, 51 min ago; Backpack: live order book, 51 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 Popdex live order book, 51 min ago	1.81 bp	7.3 bp −$7	18.5 bp −$185	doesn't fit	doesn't fit
Sell Backpack live order book, 51 min ago	1.36 bp	7.9 bp −$8	32.8 bp −$328	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
Deribit AVAX_USDC-PERPETUAL	−0.0196%	1h	11.211	+0.071%	$5.3M	$9.4M	25x	as long as short
Variational Omni AVAX	−0.0169%	8h	11.174	−0.263%	$2.9M	$2.1M	—	as long as short
Nado AVAX-PERP	−0.0114%	1h	11.215	+0.105%	$296K	$956K	10x	as long as short
Injective AVAX/USDC PERP	−0.0043%	1h	11.100	−0.919%	$17K	$127K	12x	as long as short
Extended AVAX-USD	−0.0008%	1h	11.249	+0.408%	$669K	$2.3M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.211	+0.073%	$98K	$115K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.218	+0.133%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0046%	8h	11.249	+0.411%	$12.6M	$39.8M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0052%	8h	11.242	+0.348%	$20.1M	$147.7M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0056%	1h	11.237	+0.303%	$919K	$8.2M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex AVAXUSDT	+0.0062%	8h	11.224	+0.187%	$30.1M	$4.8M	50x	as long as short
Bybit AVAXUSDT	+0.0062%	8h	11.248	+0.402%	$86.2M	$152.2M	75x	as long as short
MEXC AVAX_USDT	+0.0069%	8h	11.247	+0.393%	$53.6M	$109.0M	200x	as long as short
Binance AVAXUSDT	+0.0070%	8h	11.246	+0.385%	$120.5M	$537.6M	75x	as long as short
Paradex AVAX-USD-PERP	+0.0095%	8h	11.207	+0.036%	$13K	$766	20x	as long as short
Lighter AVAX	+0.0096%	1h	11.230	+0.239%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDTlong	+0.0096%	1h	11.203	long leg	$13K	$697K	50x
Aevo AVAX-PERP	+0.0096%	1h	11.212	+0.080%	$258K	—	3x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.233	+0.272%	$2.3M	$1.9M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.211	+0.075%	$298K	$122K	10x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.250	+0.420%	$16.1M	$24.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.241	+0.339%	$34.5M	$61.2M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.245	+0.375%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERPshort	+0.0100%	1h	11.232	+0.259%	$333K	$557K	15x
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.170	−0.295%	$353K	$910K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.176	−0.241%	$180K	$684K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.220	+0.152%	$130K	$482K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.225	+0.196%	$202K	$302K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.238	+0.310%	$12K	$713K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.237	+0.303%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.222	+0.171%	$360K	$1.1M	75x	as long as short
BloFin AVAX-USDT	+0.0190%	8h	11.196	−0.062%	$5.0M	$8.5M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.217	+0.123%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.245	+0.372%	$4.7M	$13.7M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0405% / S −0.0244%	1h	11.219	+0.142%	$242K	—	120x	as long as short
Hyperliquid AVAX	+0.0462%	1h	11.260	+0.512%	$42.9M	$58.1M	10x	as long as short