Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.009%

Price spread now: Bitget against Popdex−0.144%7-day average −0.045% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$300.305% of the position

Long on Popdex Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.111%+$11 · spread now −0.144%, 7d avg −0.045%

Together, before fees+0.112%+$11 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: Bitget is 0.099% cheaper against Popdex than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex AVAXUSDT	11.109	0.0096	pay 0.0012% / 1h	29m 21s	$15K	$595K	50x
Short	Bitget AVAXUSDT	11.093	0.0100	get 0.0100% / 8h	6h 29m	$33.3M	$51.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.144%Rate

Funding earned: $0.84
Price spread: −0.144% → −0.045%: −$9.95
Slippage, 4 orders: −$12.1
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$39.61
Costs to cover: 0.305%
Break-even: 337.1 days

Slippage from Popdex: live order book, 40 min ago; Bitget: live order book, 5 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, 40 min ago	1.78 bp	6.3 bp −$6	15.7 bp −$157	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	0.45 bp	8.8 bp −$9	14.9 bp −$149	26.5 bp −$2,650	doesn't fit

AVAX on 35 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	11.090	−0.171%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0110%	1h	11.121	+0.108%	$5.2M	$8.3M	25x	as long as short
Nado AVAX-PERP	−0.0049%	1h	11.100	−0.081%	$286K	$509K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.111	+0.015%	$102K	$96K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.104	−0.045%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0062%	8h	11.108	−0.009%	$12.1M	$36.6M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.113	+0.035%	$1.2M	$3.0M	10x	as long as short
Popdex AVAXUSDTlong	+0.0096%	1h	11.109	long leg	$15K	$595K	50x
Paradex AVAX-USD-PERP	+0.0100%	8h	11.110	+0.005%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.110	+0.009%	$2.3M	$1.4M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AVAX	+0.0100%	1h	11.115	+0.056%	$295K	$107K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.103	−0.054%	$118.3M	$461.8M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.105	−0.036%	$88.4M	$143.7M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.107	−0.018%	$19.9M	$124.2M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.103	−0.054%	$48.7M	$82.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.109	0.000%	$15.5M	$22.8M	75x	as long as short
Bitget AVAXUSDTshort	+0.0100%	8h	11.093	−0.144%	$33.3M	$51.4M	75x
BingX AVAX-USDT	+0.0100%	8h	11.103	−0.054%	—	$83.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.126	+0.153%	$356K	$536K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.127	+0.160%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.117	+0.072%	$350K	$800K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.120	+0.099%	$179K	$679K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.109	0.000%	$130K	$363K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.114	+0.045%	$195K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.153	+0.400%	$13K	$721K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.124	+0.135%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.123	+0.131%	$361K	$939K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.124	+0.135%	$29.7M	$5.6M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.105	−0.036%	$671K	$1.7M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.122	+0.117%	$255K	—	3x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.094	−0.132%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0254%	1h	11.126	+0.149%	$4.3M	$12.1M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0288%	1h	11.127	+0.162%	$904K	$5.9M	50x	as long as short
Hyperliquid AVAX	+0.0413%	1h	11.119	+0.094%	$43.2M	$47.1M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.103	−0.053%	$236K	—	120x	as long as short