Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0124%/8h= +13.6% APRpaid last 24h +0.013%

Price spread now: BloFin against Popdex−0.018%7-day average +0.003% · 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−$34as in the Price arb table

costs, in and out, $10k−$320.322% of the position

Long on Popdex Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.099%+$10 on $10k

Price spread, last 3 days (all we have)−0.163%−$16 · spread now −0.018%, 7d avg +0.003%

Together, before fees−0.064%−$6 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.020% cheaper against Popdex than usual: you would sell low and buy high (spread −0.018% now, against its 7-day average of +0.003%). If the spread goes back, that is −$2 on $10k: about 13 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex AVAXUSDT	11.268	0.0096	pay 0.0012% / 1h	28m 47s	$16K	$691K	50x
Short	BloFin AVAX-USDT	11.266	0.0220	get 0.0220% / 8h	1h 28m	$5.0M	$8.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.018%Rate

Funding earned: $26.04
Price spread: −0.018% → +0.003%: −$2.04
Slippage, 4 orders: −$13.85
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$8.25
Costs to cover: 0.322%
Break-even: 9.2 days

Slippage from Popdex: live order book, 55 min ago; BloFin: 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, 55 min ago	1.77 bp	6.3 bp −$6	16.5 bp −$165	doesn't fit	doesn't fit
Sell BloFin live order book, 5 min ago	0.89 bp	9.7 bp −$10	16.3 bp −$163	43.9 bp −$4,394	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	−0.0570%	1h	11.210	−0.515%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0105%	1h	11.266	−0.018%	$5.3M	$9.2M	25x	as long as short
Nado AVAX-PERP	−0.0024%	1h	11.271	+0.031%	$297K	$895K	10x	as long as short
Variational Omni AVAX	−0.0016%	8h	11.259	−0.079%	$3.0M	$2.4M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	11.272	+0.038%	$99K	$107K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0004%	1h	11.269	+0.008%	$16K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.272	+0.036%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDTlong	+0.0096%	1h	11.268	long leg	$16K	$691K	50x
Paradex AVAX-USD-PERP	+0.0099%	8h	11.262	−0.056%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.269	+0.011%	$2.3M	$1.8M	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	11.267	−0.007%	$299K	$120K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.271	+0.027%	$120.6M	$526.5M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.268	0.000%	$89.0M	$157.5M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.273	+0.044%	$20.3M	$146.7M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.270	+0.018%	$12.6M	$40.2M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.269	+0.009%	$52.3M	$100.0M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.275	+0.062%	$16.2M	$24.7M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.268	0.000%	$34.3M	$60.3M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.272	+0.035%	—	$6.6M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.271	+0.027%	$360K	$570K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.257	−0.094%	$360K	$898K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.282	+0.124%	$181K	$685K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.275	+0.062%	$134K	$459K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.276	+0.071%	$203K	$301K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.295	+0.243%	$12K	$731K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.269	+0.009%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.268	−0.004%	$363K	$1.1M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.269	+0.009%	$30.3M	$5.0M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.267	−0.007%	$673K	$2.2M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.270	+0.019%	$259K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0192%	1h	11.276	+0.071%	$911K	$8.3M	50x	as long as short
BloFin AVAX-USDTshort	+0.0220%	8h	11.266	−0.018%	$5.0M	$8.0M	100x
Reya AVAXRUSDPERP	+0.0244%	1h	11.271	+0.023%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0404% / S −0.0248%	1h	11.267	−0.010%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0622%	1h	11.289	+0.186%	$43.7M	$57.2M	10x	as long as short
Kraken Futures PF_AVAXUSD	+0.0627%	1h	11.276	+0.068%	$4.6M	$13.5M	50x	as long as short