Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.017%

Price spread now: GRVT against Popdex−0.228%7-day average +0.024% · 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−$58as in the Price arb table

costs, in and out, $10k−$330.332% of the position

Long on Popdex Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.013%−$1 on $10k

Price spread, last 4 days (all we have)+0.340%+$34 · spread now −0.228%, 7d avg +0.024%

Together, before fees+0.326%+ Points / potential airdropGRVT: Active · farm board+$33 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: GRVT is 0.252% cheaper against Popdex than usual: you would sell low and buy high, −$25 on $10k if it goes back to its 7-day average of +0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex AVAXUSDT	11.272	0.0096	pay 0.0012% / 1h	29m 20s	$9K	$700K	50x
Short	GRVT AVAX_USDT_Perp	11.246	0.0100	get 0.0100% / 8h	2h 29m	$356K	$910K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.228%Rate

Funding earned: $0.84
Price spread: −0.228% → +0.024%: −$25.17
Slippage, 4 orders: −$17.82
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$57.55
Costs to cover: 0.332%
Break-even: 486.6 days

Slippage from Popdex: live order book, 59 min ago; GRVT: live order book, 58 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, 59 min ago	1.81 bp	7.3 bp −$7	18.5 bp −$185	doesn't fit	doesn't fit
Sell GRVT live order book, 58 min ago	1.36 bp	11.0 bp −$11	24.2 bp −$242	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
Variational Omni AVAX	−0.0142%	8h	11.251	−0.186%	$2.9M	$2.1M	—	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0105%	1h	11.276	+0.035%	$5.3M	$9.4M	25x	as long as short
Nado AVAX-PERP	−0.0100%	1h	11.274	+0.016%	$298K	$960K	10x	as long as short
Injective AVAX/USDC PERP	−0.0043%	1h	11.100	−1.526%	$17K	$127K	12x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.278	+0.052%	$99K	$115K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.278	+0.051%	$13K	—	150x	as long as short
Extended AVAX-USD	+0.0024%	1h	11.276	+0.033%	$672K	$2.3M	25x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0056%	1h	11.275	+0.027%	$914K	$8.2M	50x	as long as short
Gate AVAX_USDT	+0.0058%	8h	11.273	+0.009%	$12.7M	$40.0M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0059%	8h	11.276	+0.035%	$20.1M	$148.4M	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	11.276	+0.035%	$30.2M	$4.8M	50x	as long as short
MEXC AVAX_USDT	+0.0077%	8h	11.271	−0.009%	$55.1M	$109.5M	200x	as long as short
Binance AVAXUSDT	+0.0080%	8h	11.274	+0.018%	$120.9M	$537.9M	75x	as long as short
Bybit AVAXUSDT	+0.0086%	8h	11.280	+0.071%	$88.2M	$153.8M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.272	0.000%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDTlong	+0.0096%	1h	11.272	long leg	$9K	$700K	50x
Paradex AVAX-USD-PERP	+0.0096%	8h	11.271	−0.012%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.275	+0.025%	$2.3M	$1.9M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.275	+0.027%	$300K	$122K	10x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.273	+0.009%	$16.1M	$24.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.276	+0.035%	$34.7M	$61.0M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.273	+0.009%	—	$6.6M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.276	+0.035%	$334K	$562K	15x	as long as short
GRVT AVAX_USDT_Perpshort	+0.0100%	8h	11.246	−0.228%	$356K	$910K	10x
ApeX Omni AVAXUSDT	+0.0100%	1h	11.249	−0.204%	$181K	$684K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.274	+0.018%	$131K	$483K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.284	+0.106%	$203K	$302K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.300	+0.245%	$12K	$716K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.272	0.000%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.267	−0.042%	$362K	$1.1M	75x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.274	+0.013%	$259K	—	3x	as long as short
BloFin AVAX-USDT	+0.0198%	8h	11.246	−0.231%	$5.0M	$8.5M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.269	−0.027%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.281	+0.079%	$4.7M	$13.7M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0405% / S −0.0245%	1h	11.276	+0.032%	$243K	—	120x	as long as short
Hyperliquid AVAX	+0.0549%	1h	11.289	+0.151%	$43.7M	$58.5M	10x	as long as short