Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0195%/8h= +21.3% APRpaid last 24h +0.049%

Price spread now: GMX against Bitget−0.066%7-day average +0.082% · you buy dearer than you sell

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

Long on Bitget Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.169%+$17 on $10k

Price spread, last 4 days (all we have)−0.034%−$3 · spread now −0.066%, 7d avg +0.082%

Together, before fees+0.135%+$14 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.149% cheaper against Bitget than usual: you would sell low and buy high (spread −0.066% now, against its 7-day average of +0.082%). If the spread goes back, that is −$15 on $10k: about 2.5 days of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget AVAXUSDT	11.025	0.0100	pay 0.0100% / 8h	4h 20m	$33.1M	$47.9M	75x
Short	GMX AVAX/USD [AVAX-USDC]	11.018	L +0.0436% / S −0.0295%	get 0.0037% / 1h	20m 38s	$234K	—	120x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bitget. 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 BitgetbpFee GMXbpOrdersPrice spread, now −0.066%Rate

Funding earned: $40.92
Price spread: −0.066% → +0.082%: −$14.86
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $2.06
Costs to cover: 0.240%
Break-even: 6.6 days

Slippage unknown: Bitget: live order book, 3 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 Bitget live order book, 3 min ago	0.45 bp	8.0 bp −$8	14.9 bp −$149	36.3 bp −$3,633	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
Injective AVAX/USDC PERP	−0.1423%	1h	10.990	−0.317%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0113%	1h	11.014	−0.100%	$5.1M	$7.9M	25x	as long as short
Nado AVAX-PERP	−0.0021%	1h	11.020	−0.045%	$286K	$370K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.027	+0.016%	$96K	$97K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.018	−0.063%	$12K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.023	−0.016%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.021	−0.036%	$15K	$550K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.026	+0.011%	$12K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.027	+0.020%	$2.2M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.029	+0.037%	$288K	$114K	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	11.022	−0.029%	$117.0M	$428.0M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.021	−0.036%	$87.5M	$137.5M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.026	+0.009%	$20.2M	$114.7M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.025	0.000%	$12.1M	$34.3M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.029	+0.036%	$46.8M	$78.1M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.030	+0.045%	$15.5M	$21.7M	75x	as long as short
Bitget AVAXUSDTlong	+0.0100%	8h	11.025	long leg	$33.1M	$47.9M	75x
BingX AVAX-USDC	+0.0100%	8h	11.025	0.000%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.017	−0.073%	$331K	$522K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.013	−0.105%	$2.8M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.049	+0.218%	$350K	$863K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.073	+0.435%	$178K	$671K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.020	−0.045%	$129K	$335K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.022	−0.027%	$194K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.049	+0.220%	$12K	$708K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.017	−0.073%	$18K	$71K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.012	−0.121%	$361K	$813K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.020	−0.045%	$29.4M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.022	−0.026%	$682K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.013	−0.108%	$253K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0214%	1h	11.017	−0.069%	$4.3M	$11.2M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.018	−0.063%	$5.0M	$5.3M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.034	+0.082%	$884K	$5.2M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.016	−0.080%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]short	L +0.0436% / S −0.0295%	1h	11.018	−0.066%	$234K	—	120x
Hyperliquid AVAX	+0.0550%	1h	11.040	+0.136%	$42.8M	$42.0M	10x	as long as short