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 −0.045%

Price spread now: Orderly against Popdex+0.089%7-day average +0.027% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Popdex Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.058%−$6 on $10k

Price spread, last 3 days (all we have)−0.294%−$29 · spread now +0.089%, 7d avg +0.027%

Together, before fees−0.352%−$35 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: Orderly is 0.062% dearer against Popdex than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex AVAXUSDT	11.291	0.0096	pay 0.0012% / 1h	24m 56s	$7K	$703K	50x
Short	Orderly PERP_AVAX_USDC	11.301	0.0100	get 0.0100% / 8h	2h 24m	$203K	$302K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.089%Rate

Funding earned: $0.84
Price spread: +0.089% → +0.027%: $6.19
Slippage, 4 orders: no order book: not counted
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$5.37
Costs to cover: 0.124%
Break-even: 51.7 days

Slippage unknown: Popdex: live order book, 64 min ago; Orderly: no order-book sample. Net counts fees only.

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, 64 min ago	1.81 bp	7.3 bp −$7	18.5 bp −$185	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0130%	8h	11.287	−0.034%	$2.9M	$2.1M	—	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0104%	1h	11.298	+0.062%	$5.3M	$9.4M	25x	as long as short
Nado AVAX-PERP	−0.0097%	1h	11.288	−0.022%	$298K	$960K	10x	as long as short
Injective AVAX/USDC PERP	−0.0043%	1h	11.260	−0.275%	$17K	$151K	12x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.288	−0.029%	$99K	$115K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0004%	1h	11.296	+0.042%	$16K	—	150x	as long as short
Extended AVAX-USD	+0.0032%	1h	11.317	+0.231%	$672K	$2.3M	25x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0056%	1h	11.309	+0.159%	$916K	$8.2M	50x	as long as short
Gate AVAX_USDT	+0.0064%	8h	11.316	+0.221%	$12.7M	$40.1M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0064%	8h	11.317	+0.230%	$20.1M	$149.0M	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	+0.0069%	8h	11.317	+0.230%	$30.3M	$4.9M	50x	as long as short
MEXC AVAX_USDT	+0.0083%	8h	11.315	+0.213%	$56.0M	$109.8M	200x	as long as short
Binance AVAXUSDT	+0.0084%	8h	11.316	+0.220%	$121.3M	$537.5M	75x	as long as short
Bybit AVAXUSDT	+0.0096%	8h	11.319	+0.248%	$89.6M	$154.6M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.307	+0.143%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDTlong	+0.0096%	1h	11.291	long leg	$7K	$703K	50x
Paradex AVAX-USD-PERP	+0.0097%	8h	11.288	−0.030%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.315	+0.214%	$2.3M	$1.9M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.292	+0.009%	$300K	$122K	10x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.321	+0.266%	$16.2M	$24.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.318	+0.239%	$35.0M	$61.3M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.317	+0.230%	—	$6.6M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.318	+0.239%	$336K	$563K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.296	+0.045%	$357K	$910K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.293	+0.018%	$182K	$684K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.298	+0.062%	$132K	$481K	10x	as long as short
Orderly PERP_AVAX_USDCshort	+0.0100%	8h	11.301	+0.089%	$203K	$302K	20x
SunX AVAX-USDT	+0.0100%	8h	11.324	+0.290%	$12K	$716K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.308	+0.151%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.287	−0.031%	$362K	$1.1M	75x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.296	+0.045%	$259K	—	3x	as long as short
BloFin AVAX-USDT	+0.0204%	8h	11.310	+0.168%	$5.0M	$8.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.293	+0.016%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0254%	1h	11.317	+0.232%	$4.7M	$13.6M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0405% / S −0.0245%	1h	11.295	+0.036%	$244K	—	120x	as long as short
Hyperliquid AVAX	+0.0588%	1h	11.334	+0.381%	$43.8M	$58.6M	10x	as long as short