Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.013%

Price spread now: Popdex against Binance+0.094%51s7-day average +0.011% · you sell dearer than you buy

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−$270.274% of the position

Long on Binance Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.007%+$1 on $10k

Price spread, last 4 days (all we have)−0.097%−$10 · spread now +0.094%, 7d avg +0.011%

Together, before fees−0.089%−$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: Popdex is 0.083% dearer against Binance than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.011%. The two prices were read 51 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	Binance AVAXUSDT	10.600	0.0100	pay 0.0100% / 8h	2h 49m	$111.1M	$425.2M	75x
Short	Popdex AVAXUSDT	10.610	0.0096	get 0.0012% / 1h	49m 44s	$9K	$444K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against Binance. 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 BinancebpFee PopdexbpOrdersPrice spread, now +0.094%Rate

Funding earned: −$0.84
Price spread: +0.094% → +0.011%: $8.34
Slippage, 4 orders: −$11.05
Fee Binance: 5 bp × 2 orders: −$10
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$19.95
Costs to cover: 0.274%
Break-even: never at this rate

Slippage from Binance: live order book, 9 min ago; Popdex: live order book, 64 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 Binance live order book, 9 min ago	0.47 bp	7.6 bp −$8	13.7 bp −$137	39.4 bp −$3,941	133.6 bp −$66.8K
Sell Popdex live order book, 64 min ago	1.36 bp	5.7 bp −$6	19.6 bp −$196	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	−0.1423%	1h	10.760	+1.509%	$17K	$152K	12x	as long as short
Kraken Futures PF_AVAXUSD	−0.0282%	1h	10.593	−0.069%	$4.2M	$11.3M	50x	as long as short
ApeX Omni AVAXUSDT	−0.0251%	1h	10.655	+0.519%	$172K	$666K	50x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0127%	1h	10.601	+0.009%	$4.8M	$7.6M	25x	as long as short
Polymarket Perps AVAX-USD	−0.0019%	1h	10.612	+0.113%	$131K	$345K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.599	−0.010%	$93K	$101K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.614	+0.135%	$12K	—	150x	as long as short
Gate AVAX_USDT	+0.0014%	8h	10.590	−0.094%	$12.0M	$31.7M	75x	as long as short
Variational Omni AVAX	+0.0037%	8h	10.617	+0.157%	$2.8M	$2.2M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0058%	1h	10.592	−0.075%	$369K	$534K	15x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex AVAX-USD-PERP	+0.0096%	8h	10.606	+0.057%	$12K	$212	20x	as long as short
Lighter AVAX	+0.0096%	1h	10.598	−0.014%	$1.2M	$2.6M	10x	as long as short
Popdex AVAXUSDTshort	+0.0096%	1h	10.610	+0.094%	$9K	$444K	50x
SoDEX AVAX-USD	+0.0097%	1h	10.588	−0.113%	$18K	$72K	10x	as long as short
Nado AVAX-PERP	+0.0100%	1h	10.613	+0.123%	$281K	$322K	10x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.600	0.000%	$38.2M	$43.0M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.594	−0.059%	$2.1M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.604	+0.038%	$267K	$130K	10x	as long as short
Binance AVAXUSDTlong	+0.0100%	8h	10.600	long leg	$111.1M	$425.2M	75x
Bybit AVAXUSDT	+0.0100%	8h	10.596	−0.038%	$78.6M	$143.0M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.607	+0.066%	$18.6M	$110.4M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.600	0.000%	$40.7M	$78.8M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.599	−0.009%	$13.3M	$22.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.591	−0.085%	$31.3M	$48.8M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.603	+0.028%	—	$55.0M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.654	+0.507%	$336K	$950K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.612	+0.113%	$186K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.653	+0.499%	$12K	$738K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.599	−0.009%	$351K	$787K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.595	−0.047%	$28.3M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.588	−0.114%	$638K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.600	−0.003%	$243K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0216%	1h	10.589	−0.104%	$860K	$4.7M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.629	+0.274%	$4.7M	$5.5M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	10.609	+0.083%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0271%	1h	10.614	+0.133%	$232K	—	120x	as long as short