Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.003%

Price spread now: Popdex against SunX−0.186%7-day average −0.257% · 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−$159as in the Price arb table

costs, in and out, $10k−$1661.664% of the position

Long on SunX Short on Popdex

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 3 days (all we have)+0.042%+$4 · spread now −0.186%, 7d avg −0.257%

Together, before fees+0.029%+$3 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: Popdex is 0.071% dearer against SunX than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.257%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX AVAX-USDT	11.232	0.0100	pay 0.0100% / 8h	7h 12m	$12K	$719K	20x
Short	Popdex AVAXUSDT	11.211	0.0096	get 0.0012% / 1h	12m 38s	$15K	$610K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against SunX. 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 SunXbpFee PopdexbpOrdersPrice spread, now −0.186%Rate

Funding earned: −$0.84
Price spread: −0.186% → −0.257%: $7.13
Slippage, 4 orders: −$152.01
Fee SunX: 4 bp × 2 orders: −$8
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$160.12
Costs to cover: 1.664%
Break-even: never at this rate

Slippage from SunX: live order book, 39 min ago; Popdex: live order book, 61 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 SunX live order book, 39 min ago	41.89 bp	55.4 bp −$55	doesn't fit	doesn't fit	doesn't fit
Sell Popdex live order book, 61 min ago	0.45 bp	4.5 bp −$5	9.1 bp −$91	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
Injective AVAX/USDC PERP	−0.1363%	1h	11.140	−0.818%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0058%	1h	11.204	−0.248%	$294K	$730K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.207	−0.224%	$103K	$105K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	11.200	−0.284%	$5.3M	$8.5M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.202	−0.269%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.209	−0.202%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDTshort	+0.0096%	1h	11.211	−0.186%	$15K	$610K	50x
Paradex AVAX-USD-PERP	+0.0100%	8h	11.215	−0.147%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.205	−0.238%	$2.3M	$1.5M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.213	−0.167%	$298K	$100K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AVAXUSDT	+0.0100%	8h	11.212	−0.181%	$119.7M	$476.2M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.212	−0.177%	$89.1M	$147.7M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.218	−0.124%	$20.0M	$130.9M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.214	−0.159%	$12.2M	$38.3M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.218	−0.124%	$49.0M	$88.9M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.213	−0.168%	$15.4M	$23.0M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.219	−0.115%	$34.1M	$53.3M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.213	−0.168%	—	$84.3M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.200	−0.284%	$358K	$548K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.178	−0.482%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.187	−0.398%	$353K	$847K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.190	−0.373%	$180K	$688K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.206	−0.231%	$131K	$372K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.207	−0.222%	$197K	$313K	20x	as long as short
SunX AVAX-USDTlong	+0.0100%	8h	11.232	long leg	$12K	$719K	20x
SoDEX AVAX-USD	+0.0100%	1h	11.198	−0.302%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.196	−0.316%	$363K	$938K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.199	−0.293%	$30.0M	$5.1M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.215	−0.151%	$671K	$2.0M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.196	−0.316%	$257K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0215%	1h	11.202	−0.266%	$4.3M	$12.5M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.196	−0.320%	$5.0M	$6.2M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.200	−0.286%	$1K	—	20x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0304%	1h	11.209	−0.204%	$912K	$6.5M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0298%	1h	11.201	−0.273%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0681%	1h	11.226	−0.053%	$43.9M	$49.6M	10x	as long as short