Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0343%/8h= −37.6% APRpaid last 24h −0.098%

Price spread now: MEXC against GMX−0.116%7-day average −0.046% · you buy dearer than you sell

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

Long on GMX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.347%−$35 on $10k

Price spread, last 4 days (all we have)+0.173%+$17 · spread now −0.116%, 7d avg −0.046%

Together, before fees−0.174%−$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and MEXC is 0.070% cheaper against GMX than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.046%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX AVAX/USD [AVAX-USDC]	10.689	L +0.0443% / S −0.0294%	pay 0.0055% / 1h	54m 12s	$226K	—	120x
Short	MEXC AVAX_USDT	10.677	0.0100	get 0.0100% / 8h	54m 12s	$45.6M	$78.8M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against GMX. 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 GMXbpFee MEXCbpOrdersPrice spread, now −0.116%Rate

Funding earned: −$72.13
Price spread: −0.116% → −0.046%: −$7.04
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$91.17
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; MEXC: live order book, 5 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell MEXC live order book, 5 min ago	0.47 bp	1.3 bp −$1	4.3 bp −$43	42.4 bp −$4,237	103.1 bp −$51.6K

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
Kraken Futures PF_AVAXUSD	−0.0185%	1h	10.679	−0.098%	$3.8M	$12.0M	50x	as long as short
Nado AVAX-PERP	−0.0143%	1h	10.678	−0.102%	$280K	$335K	10x	as long as short
Variational Omni AVAX	−0.0074%	8h	10.658	−0.298%	$2.9M	$2.2M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.684	−0.053%	$91K	$111K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.683	−0.060%	$4.8M	$6.9M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.689	−0.004%	$12K	—	150x	as long as short
Gate AVAX_USDT	+0.0004%	8h	10.680	−0.088%	$13.0M	$30.4M	75x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	+0.660%	$17K	$151K	12x	as long as short
Bybit AVAXUSDT	+0.0079%	8h	10.675	−0.135%	$81.4M	$142.7M	75x	as long as short
Paradex AVAX-USD-PERP	+0.0084%	8h	10.682	−0.070%	$12K	$212	20x	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	10.678	−0.106%	$1.2M	$2.4M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.686	−0.032%	$25K	$473K	50x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.687	−0.023%	$36.7M	$43.3M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.686	−0.028%	$2.2M	$994K	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.685	−0.040%	$268K	$129K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.679	−0.097%	$112.9M	$417.7M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.675	−0.135%	$18.7M	$110.5M	50x	as long as short
MEXC AVAX_USDTshort	+0.0100%	8h	10.677	−0.116%	$45.6M	$78.8M	200x
KuCoin AVAXUSDTM	+0.0100%	8h	10.681	−0.079%	$13.6M	$22.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.677	−0.116%	$32.3M	$48.3M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.678	−0.107%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.682	−0.069%	$435K	$559K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.682	−0.068%	$339K	$1.1M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.684	−0.051%	$172K	$661K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.687	−0.023%	$134K	$347K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.693	+0.034%	$231K	$255K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.709	+0.185%	$11K	$770K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.678	−0.107%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.687	−0.027%	$325K	$880K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.679	−0.097%	$28.5M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.676	−0.126%	$609K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.684	−0.046%	$245K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.689	−0.004%	$4.6M	$5.5M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0224%	1h	10.694	+0.043%	$852K	$5.0M	50x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.683	−0.063%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]long	L +0.0443% / S −0.0294%	1h	10.689	long leg	$226K	—	120x