Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h −0.007%

Price spread now: Lighter against Popdex+0.063%7-day average −0.040% · 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−$8as in the Price arb table

costs, in and out, $10k−$190.186% of the position

Long on Popdex Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.017%−$2 on $10k

Price spread, last 4 days (all we have)−0.064%−$6 · spread now +0.063%, 7d avg −0.040%

Together, before fees−0.081%+ Points / potential airdropLighter: Season 3 · farm board−$8 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: Lighter is 0.103% dearer against Popdex than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.040%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex AVAXUSDT	11.262	0.0096	pay 0.0012% / 1h	20m 33s	$9K	$705K	50x
Short	Lighter AVAX	11.269	0.0096	get 0.0012% / 1h	20m 33s	$1.3M	$3.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.063%Rate

Funding earned: $0
Price spread: +0.063% → −0.040%: $10.27
Slippage, 4 orders: −$12.16
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Lighter: 0 bp × 2 orders: $0
Net: −$8.29
Costs to cover: 0.186%
Break-even: never at this rate

Slippage from Popdex: live order book, 4 min ago; Lighter: live order book, 7 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, 4 min ago	1.77 bp	6.3 bp −$6	16.5 bp −$165	doesn't fit	doesn't fit
Sell Lighter live order book, 7 min ago	2.61 bp	3.3 bp −$3	12.4 bp −$124	81.3 bp −$8,125	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	−0.0281%	1h	11.284	+0.195%	$5.3M	$9.4M	25x	as long as short
Variational Omni AVAX	−0.0130%	8h	11.287	+0.223%	$2.9M	$2.1M	—	as long as short
Nado AVAX-PERP	−0.0088%	1h	11.281	+0.169%	$298K	$960K	10x	as long as short
Injective AVAX/USDC PERP	−0.0043%	1h	11.260	−0.018%	$17K	$152K	12x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.275	+0.118%	$99K	$115K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0004%	1h	11.283	+0.184%	$16K	—	150x	as long as short
Extended AVAX-USD	+0.0048%	1h	11.257	−0.043%	$672K	$2.2M	25x	as long as short
Gate AVAX_USDT	+0.0053%	8h	11.273	+0.098%	$12.6M	$40.2M	75x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0056%	1h	11.298	+0.320%	$915K	$8.2M	50x	as long as short
OKX AVAX-USDT-SWAP	+0.0069%	8h	11.259	−0.027%	$20.0M	$148.3M	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	+0.0077%	8h	11.290	+0.249%	$30.2M	$4.9M	50x	as long as short
MEXC AVAX_USDT	+0.0089%	8h	11.263	+0.009%	$55.5M	$110.1M	200x	as long as short
Binance AVAXUSDT	+0.0089%	8h	11.257	−0.044%	$120.6M	$537.5M	75x	as long as short
Lighter AVAXshort	+0.0096%	1h	11.269	+0.063%	$1.3M	$3.2M	10x
Popdex AVAXUSDTlong	+0.0096%	1h	11.262	long leg	$9K	$705K	50x
Paradex AVAX-USD-PERP	+0.0097%	8h	11.259	−0.026%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.278	+0.142%	$2.3M	$1.9M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.274	+0.103%	$299K	$122K	10x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.262	0.000%	$89.3M	$154.9M	75x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.272	+0.089%	$16.1M	$24.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.262	0.000%	$34.7M	$61.3M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.264	+0.018%	—	$90.3M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.292	+0.266%	$334K	$563K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.323	+0.542%	$358K	$909K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.325	+0.559%	$182K	$683K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.284	+0.195%	$131K	$479K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.290	+0.249%	$203K	$302K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.312	+0.440%	$12K	$719K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.287	+0.222%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.278	+0.147%	$362K	$1.1M	75x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.287	+0.218%	$259K	—	3x	as long as short
BloFin AVAX-USDT	+0.0209%	8h	11.289	+0.240%	$5.0M	$8.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.276	+0.127%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0254%	1h	11.298	+0.316%	$4.6M	$13.7M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0405% / S −0.0245%	1h	11.282	+0.182%	$243K	—	120x	as long as short
Hyperliquid AVAX	+0.0620%	1h	11.298	+0.320%	$44.1M	$58.7M	10x	as long as short