Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.007%

Price spread now: Popdex against BingX−0.037%7-day average +0.038% · 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−$33as in the Price arb table

costs, in and out, $10k−$260.259% of the position

Long on BingX Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.071%+$7 · spread now −0.037%, 7d avg +0.038%

Together, before fees+0.074%+$7 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 0.075% cheaper against BingX than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX AVAX-USDT	10.694	0.0100	pay 0.0100% / 8h	1h 47m	—	$54.5M	—
Short	Popdex AVAXUSDT	10.690	0.0096	get 0.0012% / 1h	47m 40s	$23K	$428K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against BingX. 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 BingXbpFee PopdexbpOrdersPrice spread, now −0.037%Rate

Funding earned: −$0.84
Price spread: −0.037% → +0.038%: −$7.49
Slippage, 4 orders: −$9.46
Fee BingX: 5 bp × 2 orders: −$10
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$34.19
Costs to cover: 0.259%
Break-even: never at this rate

Slippage from BingX: live order book, 6 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 BingX live order book, 6 min ago	0.47 bp	5.5 bp −$5	7.4 bp −$74	11.7 bp −$1,169	24.3 bp −$12.1K
Sell Popdex live order book, 61 min ago	1.89 bp	7.0 bp −$7	21.3 bp −$213	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
Nado AVAX-PERP	−0.0192%	1h	10.691	−0.023%	$286K	$338K	10x	as long as short
Variational Omni AVAX	−0.0038%	8h	10.723	+0.269%	$2.8M	$2.1M	—	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0030%	1h	10.697	+0.028%	$4.8M	$7.2M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.699	+0.048%	$89K	$117K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.697	+0.032%	$12K	—	150x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	+0.617%	$17K	$152K	12x	as long as short
Gate AVAX_USDT	+0.0034%	8h	10.697	+0.028%	$12.7M	$32.0M	75x	as long as short
SoDEX AVAX-USD	+0.0075%	1h	10.695	+0.009%	$18K	$72K	10x	as long as short
Paradex AVAX-USD-PERP	+0.0093%	8h	10.696	+0.017%	$12K	$212	20x	as long as short
Bybit AVAXUSDT	+0.0094%	8h	10.689	−0.047%	$81.4M	$147.2M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AVAX	+0.0096%	1h	10.697	+0.029%	$1.2M	$2.5M	10x	as long as short
Popdex AVAXUSDTshort	+0.0096%	1h	10.690	−0.037%	$23K	$428K	50x
Hyperliquid AVAX	+0.0100%	1h	10.708	+0.131%	$37.5M	$43.9M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.697	+0.028%	$2.2M	$1.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.702	+0.075%	$269K	$132K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.690	−0.037%	$113.7M	$427.8M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.688	−0.056%	$18.7M	$112.9M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.699	+0.047%	$44.7M	$80.4M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.701	+0.065%	$13.6M	$22.9M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.693	−0.009%	$32.2M	$48.9M	75x	as long as short
BingX AVAX-USDTlong	+0.0100%	8h	10.694	long leg	—	$54.5M	—
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.698	+0.037%	$427K	$561K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.716	+0.202%	$340K	$1.0M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.718	+0.224%	$173K	$664K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.694	0.000%	$136K	$354K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.702	+0.075%	$230K	$351K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.726	+0.298%	$12K	$763K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.695	+0.014%	$343K	$873K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.697	+0.028%	$28.5M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.691	−0.028%	$609K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.693	−0.005%	$246K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0113%	1h	10.701	+0.067%	$4.2M	$11.3M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0200%	1h	10.734	+0.374%	$934K	$5.1M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.710	+0.150%	$4.7M	$5.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.689	−0.048%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0295%	1h	10.697	+0.028%	$226K	—	120x	as long as short