Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.008%

Price spread now: Popdex against OKX−0.018%7-day average +0.041% · 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−$38as in the Price arb table

costs, in and out, $10k−$320.319% of the position

Long on OKX 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)+0.056%+$6 · spread now −0.018%, 7d avg +0.041%

Together, before fees+0.062%+$6 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 0.060% cheaper against OKX than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX AVAX-USDT-SWAP	10.857	0.0100	pay 0.0100% / 8h	7h 21m	$19.2M	$106.2M	50x
Short	Popdex AVAXUSDT	10.855	0.0096	get 0.0012% / 1h	21m 32s	$22K	$469K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against OKX. 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 OKXbpFee PopdexbpOrdersPrice spread, now −0.018%Rate

Funding earned: −$0.84
Price spread: −0.018% → +0.041%: −$5.98
Slippage, 4 orders: −$15.54
Fee OKX: 5 bp × 2 orders: −$10
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$38.76
Costs to cover: 0.319%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Popdex: live order book, 12 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 OKX live order book, 2 min ago	0.46 bp	8.3 bp −$8	18.3 bp −$183	46.2 bp −$4,621	doesn't fit
Sell Popdex live order book, 12 min ago	2.33 bp	6.5 bp −$6	18.8 bp −$188	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
Kraken Futures PF_AVAXUSD	−0.0264%	1h	10.840	−0.158%	$3.8M	$11.6M	50x	as long as short
Nado AVAX-PERP	−0.0209%	1h	10.860	+0.023%	$283K	$320K	10x	as long as short
Phemex AVAXUSDT	−0.0151%	8h	10.833	−0.221%	$28.9M	$5.6M	50x	as long as short
Variational Omni AVAX	−0.0085%	8h	10.745	−1.028%	$3.0M	$2.1M	—	as long as short
SoDEX AVAX-USD	−0.0067%	1h	10.836	−0.193%	$18K	$68K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.860	+0.031%	$92K	$111K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.840	−0.157%	$4.9M	$6.7M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.839	−0.168%	$12K	—	150x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	−0.893%	$17K	$151K	12x	as long as short
Gate AVAX_USDT	+0.0064%	8h	10.845	−0.111%	$13.9M	$29.0M	75x	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	+0.0087%	8h	10.844	−0.119%	$12K	$62	20x	as long as short
Lighter AVAX	+0.0096%	1h	10.846	−0.101%	$1.2M	$2.1M	10x	as long as short
Popdex AVAXUSDTshort	+0.0096%	1h	10.855	−0.018%	$22K	$469K	50x
Hyperliquid AVAX	+0.0100%	1h	10.852	−0.046%	$36.0M	$39.5M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.854	−0.026%	$2.2M	$1.4M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.847	−0.089%	$273K	$128K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.858	+0.009%	$114.7M	$389.5M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.857	0.000%	$85.0M	$136.6M	75x	as long as short
OKX AVAX-USDT-SWAPlong	+0.0100%	8h	10.857	long leg	$19.2M	$106.2M	50x
MEXC AVAX_USDT	+0.0100%	8h	10.844	−0.120%	$53.6M	$79.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.846	−0.101%	$14.0M	$20.4M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.853	−0.037%	$33.1M	$45.0M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.846	−0.101%	—	$52.9M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.838	−0.175%	$440K	$531K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.800	−0.528%	$343K	$1.3M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.804	−0.488%	$174K	$661K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.836	−0.193%	$136K	$278K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.842	−0.138%	$234K	$233K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.862	+0.050%	$12K	$770K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.834	−0.215%	$335K	$847K	75x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.845	−0.113%	$612K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.832	−0.230%	$249K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0200%	1h	10.828	−0.267%	$859K	$5.3M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.825	−0.295%	$4.7M	$5.4M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.830	−0.245%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0294%	1h	10.825	−0.294%	$229K	—	120x	as long as short