Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.016%

Price spread now: OKX against Popdex−0.127%53s7-day average −0.044% · 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—prices read too far apart to compare

costs, in and out, $10k−$300.302% of the position

Long on Popdex Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.011%−$1 on $10k

Price spread, last 4 days (all we have)+0.102%+$10 · spread now −0.127%, 7d avg −0.044%

Together, before fees+0.092%+$9 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: OKX is 0.083% cheaper against Popdex than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.044%. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex AVAXUSDT	11.008	0.0096	pay 0.0012% / 1h	50m 39s	$15K	$458K	50x
Short	OKX AVAX-USDT-SWAP	10.994	0.0100	get 0.0100% / 8h	3h 50m	$20.2M	$113.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.127%Rate

Funding earned: $0.84
Price spread: −0.127% → −0.044%: −$8.32
Slippage, 4 orders: −$13.84
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee OKX: 5 bp × 2 orders: −$10
Net: −$37.73
Costs to cover: 0.302%
Break-even: 321.4 days

Slippage from Popdex: live order book, 3 min ago; OKX: live order book, 3 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, 3 min ago	1.36 bp	6.5 bp −$6	19.2 bp −$192	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	0.46 bp	9.5 bp −$10	20.5 bp −$205	62.5 bp −$6,246	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	−0.1421%	1h	10.960	−0.436%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0023%	1h	11.005	−0.023%	$286K	$318K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0022%	1h	11.007	−0.009%	$5.1M	$7.9M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.002	−0.059%	$96K	$97K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.010	+0.018%	$12K	—	150x	as long as short
Kraken Futures PF_AVAXUSD	+0.0020%	1h	11.004	−0.032%	$4.3M	$11.3M	50x	as long as short
ApeX Omni AVAXUSDT	+0.0084%	1h	11.008	0.000%	$177K	$671K	50x	as long as short
Lighter AVAX	+0.0096%	1h	10.997	−0.099%	$1.2M	$2.7M	10x	as long as short
Popdex AVAXUSDTlong	+0.0096%	1h	11.008	long leg	$15K	$458K	50x
Paradex AVAX-USD-PERP	+0.0100%	8h	10.995	−0.114%	$12K	$212	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster AVAXUSDT	+0.0100%	8h	11.002	−0.055%	$2.2M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.999	−0.079%	$277K	$129K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.995	−0.118%	$116.0M	$428.6M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.989	−0.173%	$84.1M	$140.9M	75x	as long as short
OKX AVAX-USDT-SWAPshort	+0.0100%	8h	10.994	−0.127%	$20.2M	$113.9M	50x
Gate AVAX_USDT	+0.0100%	8h	10.993	−0.136%	$12.1M	$32.2M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.995	−0.118%	$45.9M	$78.0M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.998	−0.091%	$15.5M	$21.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.992	−0.145%	$33.1M	$47.7M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.991	−0.154%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.002	−0.055%	$370K	$548K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.001	−0.067%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.010	+0.017%	$345K	$891K	10x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.008	0.000%	$129K	$345K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.014	+0.055%	$193K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.038	+0.272%	$12K	$719K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.002	−0.055%	$18K	$71K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.004	−0.033%	$366K	$791K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.006	−0.018%	$29.4M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.989	−0.173%	$678K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.005	−0.032%	$253K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.000	−0.073%	$5.0M	$5.4M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.018	+0.091%	$897K	$5.2M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.006	−0.020%	$1K	—	20x	as long as short
Hyperliquid AVAX	+0.0382%	1h	11.011	+0.027%	$42.7M	$41.6M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.010	+0.022%	$234K	—	120x	as long as short