AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0145%/8h= +15.9% APRnext payment +$0.18 per $10,000 · paid last 24h +0.061%

Price spread now: GMX against Backpack−0.120%7-day average +0.036% · you buy dearer than you sell

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

Long on Backpack Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.202%+$20 on $10k

Price spread, last 3 days (all we have)+0.026%+$3 · spread now −0.120%, 7d avg +0.036%

Together, before fees+0.229%+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.156% cheaper against Backpack than usual: you would sell low and buy high (spread −0.120% now, against its 7-day average of +0.036%). If the spread goes back, that is −$16 on $10k: about 3.6 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AVAX_USDC_PERP	11.339	0.0100	pay 0.0013% / 1h	8m 07s	$339K	$561K	15x
Short	GMX AVAX/USD [AVAX-USDC]	11.325	L +0.0405% / S −0.0245%	get 0.0031% / 1h	8m 07s	$244K	—	120x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Backpack. 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 BackpackbpFee GMXbpOrdersPrice spread, now −0.120%Rate

Funding earned: $30.41
Price spread: −0.120% → +0.036%: −$15.61
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$7.2
Costs to cover: 0.220%
Break-even: 8.7 days

Slippage unknown: Backpack: live order book, 16 min ago; GMX: 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 Backpack live order book, 16 min ago	0.44 bp	10.3 bp −$10	35.3 bp −$353	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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
Deribit AVAX_USDC-PERPETUAL	−0.0103%	1h	11.325	−0.123%	$5.4M	$9.4M	25x	as long as short
Variational Omni AVAX	−0.0092%	8h	11.306	−0.289%	$2.9M	$2.1M	—	as long as short
Nado AVAX-PERP	−0.0077%	1h	11.325	−0.119%	$299K	$959K	10x	as long as short
Injective AVAX/USDC PERP	−0.0043%	1h	11.260	−0.697%	$17K	$152K	12x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.335	−0.031%	$99K	$115K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0004%	1h	11.328	−0.100%	$16K	—	150x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0056%	1h	11.339	0.000%	$995K	$8.4M	50x	as long as short
Gate AVAX_USDT	+0.0064%	8h	11.325	−0.123%	$12.7M	$40.4M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0091%	8h	11.351	+0.106%	$20.4M	$149.7M	50x	as long as short
Lighter AVAX	+0.0096%	1h	11.325	−0.119%	$1.3M	$3.3M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex AVAXUSDT	+0.0096%	1h	11.324	−0.132%	$10K	$702K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0098%	8h	11.329	−0.085%	$13K	$766	20x	as long as short
MEXC AVAX_USDT	+0.0098%	8h	11.335	−0.035%	$55.9M	$110.4M	200x	as long as short
Binance AVAXUSDT	+0.0099%	8h	11.353	+0.123%	$121.8M	$537.3M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.325	−0.123%	$30.3M	$4.9M	50x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.326	−0.113%	$2.3M	$1.9M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.335	−0.035%	$301K	$121K	10x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.352	+0.115%	$91.0M	$155.9M	75x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.330	−0.079%	$16.5M	$24.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.359	+0.176%	$35.0M	$61.1M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.335	−0.035%	—	$90.0M	—	as long as short
Backpack AVAX_USDC_PERPlong	+0.0100%	1h	11.339	long leg	$339K	$561K	15x
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.314	−0.221%	$358K	$895K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.313	−0.229%	$182K	$681K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.326	−0.115%	$133K	$482K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.334	−0.044%	$204K	$302K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.361	+0.190%	$12K	$722K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.325	−0.123%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.329	−0.084%	$364K	$1.1M	75x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.356	+0.150%	$676K	$2.2M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.320	−0.171%	$260K	—	3x	as long as short
BloFin AVAX-USDT	+0.0218%	8h	11.320	−0.168%	$5.0M	$8.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.324	−0.129%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0253%	1h	11.333	−0.056%	$4.6M	$13.6M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]short	L +0.0405% / S −0.0245%	1h	11.325	−0.120%	$244K	—	120x
Hyperliquid AVAX	+0.0679%	1h	11.356	+0.150%	$44.1M	$58.5M	10x	as long as short