Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0006%/8h= +0.6% APRpaid last 24h +0.031%

Price spread now: Popdex against Bybit+0.028%7-day average +0.049% · 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−$37as in the Price arb table

costs, in and out, $10k−$350.351% of the position

Long on Bybit Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.039%+$4 on $10k

Price spread, last 4 days (all we have)+0.014%+$1 · spread now +0.028%, 7d avg +0.049%

Together, before fees+0.053%+$5 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 0.021% cheaper against Bybit than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AVAXUSDT	10.753	0.0090	pay 0.0090% / 8h	1h 20m	$81.9M	$146.0M	75x
Short	Popdex AVAXUSDT	10.756	0.0096	get 0.0012% / 1h	20m 30s	$25K	$443K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against Bybit. 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 BybitbpFee PopdexbpOrdersPrice spread, now +0.028%Rate

Funding earned: $1.16
Price spread: +0.028% → +0.049%: −$2.08
Slippage, 4 orders: −$17.69
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$36.01
Costs to cover: 0.351%
Break-even: 224.0 days

Slippage from Bybit: live order book, 4 min ago; Popdex: live order book, 23 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 Bybit live order book, 4 min ago	0.47 bp	8.4 bp −$8	15.4 bp −$154	37.9 bp −$3,792	doesn't fit
Sell Popdex live order book, 23 min ago	3.27 bp	10.8 bp −$11	20.0 bp −$200	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	−0.0197%	1h	10.752	−0.005%	$283K	$341K	10x	as long as short
Variational Omni AVAX	−0.0056%	8h	10.732	−0.199%	$2.8M	$2.1M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.756	+0.029%	$92K	$119K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.742	−0.102%	$4.8M	$7.1M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.745	−0.070%	$12K	—	150x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	+0.065%	$17K	$152K	12x	as long as short
Gate AVAX_USDT	+0.0034%	8h	10.751	−0.019%	$12.9M	$32.3M	75x	as long as short
Paradex AVAX-USD-PERP	+0.0087%	8h	10.753	0.000%	$12K	$212	20x	as long as short
Bybit AVAXUSDTlong	+0.0090%	8h	10.753	long leg	$81.9M	$146.0M	75x
SoDEX AVAX-USD	+0.0092%	1h	10.742	−0.102%	$18K	$72K	10x	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	10.751	−0.018%	$1.2M	$2.5M	10x	as long as short
Popdex AVAXUSDTshort	+0.0096%	1h	10.756	+0.028%	$25K	$443K	50x
Hyperliquid AVAX	+0.0100%	1h	10.767	+0.130%	$37.4M	$43.8M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.756	+0.026%	$2.2M	$1.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.757	+0.033%	$270K	$129K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.757	+0.034%	$114.5M	$423.6M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.756	+0.028%	$18.9M	$112.9M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.757	+0.037%	$45.6M	$80.9M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.757	+0.037%	$13.6M	$22.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.758	+0.046%	$32.5M	$48.6M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.755	+0.019%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.745	−0.074%	$438K	$564K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.744	−0.083%	$342K	$1.1M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.747	−0.056%	$173K	$661K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.759	+0.056%	$135K	$353K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.748	−0.046%	$231K	$275K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.772	+0.176%	$12K	$766K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.749	−0.041%	$338K	$904K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.741	−0.112%	$28.7M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.747	−0.057%	$610K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.738	−0.135%	$247K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0113%	1h	10.748	−0.043%	$4.2M	$11.3M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0200%	1h	10.759	+0.056%	$855K	$5.1M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.743	−0.093%	$4.6M	$5.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.752	−0.007%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0443% / S −0.0294%	1h	10.745	−0.070%	$227K	—	120x	as long as short