AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h +0.020%

Price spread now: Popdex against Backpack−0.252%7-day average −0.004% · 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−$54as in the Price arb table

costs, in and out, $10k−$290.289% of the position

Long on Backpack Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.052%+$5 on $10k

Price spread, last 4 days (all we have)+0.297%+$30 · spread now −0.252%, 7d avg −0.004%

Together, before fees+0.349%+$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: Popdex is 0.248% cheaper against Backpack than usual: you would sell low and buy high, −$25 on $10k if it goes back to its 7-day average of −0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AVAX_USDC_PERP	11.128	0.0100	pay 0.0013% / 1h	57m 23s	$356K	$500K	15x
Short	Popdex AVAXUSDT	11.100	0.0096	get 0.0012% / 1h	57m 23s	$15K	$567K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now −0.252%Rate

Funding earned: −$0.84
Price spread: −0.252% → −0.004%: −$24.78
Slippage, 4 orders: −$12.54
Fee Backpack: 5 bp × 2 orders: −$10
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$54.56
Costs to cover: 0.289%
Break-even: never at this rate

Slippage from Backpack: live order book, 6 min ago; Popdex: 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 Backpack live order book, 6 min ago	0.45 bp	8.6 bp −$9	41.4 bp −$414	doesn't fit	doesn't fit
Sell Popdex live order book, 7 min ago	0.45 bp	4.9 bp −$5	14.0 bp −$140	doesn't fit	doesn't fit

AVAX on 35 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	−0.1374%	1h	11.130	+0.018%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0201%	1h	11.086	−0.377%	$5.2M	$8.0M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.112	−0.147%	$102K	$87K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.089	−0.346%	$13K	—	150x	as long as short
Nado AVAX-PERP	+0.0041%	1h	11.103	−0.225%	$286K	$458K	10x	as long as short
Kraken Futures PF_AVAXUSD	+0.0045%	1h	11.139	+0.097%	$4.3M	$11.6M	50x	as long as short
Lighter AVAX	+0.0096%	1h	11.105	−0.207%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDTshort	+0.0096%	1h	11.100	−0.252%	$15K	$567K	50x
Gate AVAX_USDT	+0.0099%	8h	11.093	−0.315%	$12.1M	$34.8M	75x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.101	−0.239%	$13K	$434	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster AVAXUSDT	+0.0100%	8h	11.111	−0.152%	$2.3M	$1.2M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.111	−0.149%	$290K	$113K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.087	−0.371%	$118.4M	$441.4M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.089	−0.350%	$88.0M	$139.4M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.089	−0.350%	$20.0M	$119.8M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.096	−0.288%	$48.3M	$78.9M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.106	−0.198%	$15.5M	$22.0M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.083	−0.404%	$33.3M	$49.3M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.091	−0.332%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERPlong	+0.0100%	1h	11.128	long leg	$356K	$500K	15x
Variational Omni AVAX	+0.0100%	8h	11.156	+0.248%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.158	+0.270%	$353K	$801K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.167	+0.350%	$179K	$679K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.099	−0.261%	$130K	$349K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.095	−0.297%	$195K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.115	−0.119%	$12K	$703K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.137	+0.081%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.139	+0.094%	$362K	$854K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.135	+0.063%	$29.8M	$5.6M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.099	−0.261%	$671K	$1.6M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.088	−0.359%	$255K	—	3x	as long as short
Hyperliquid AVAX	+0.0193%	1h	11.113	−0.135%	$43.2M	$44.8M	10x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.157	+0.261%	$904K	$5.6M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.091	−0.334%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.091	−0.329%	$236K	—	120x	as long as short