Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.023%

Price spread now: Popdex against Orderly−0.081%7-day average −0.028% · you buy dearer than you sell

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

Long on Orderly Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.053%+$5 on $10k

Price spread, last 3 days (all we have)+0.113%+$11 · spread now −0.081%, 7d avg −0.028%

Together, before fees+0.166%+$17 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 0.053% cheaper against Orderly than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_AVAX_USDC	11.107	0.0100	pay 0.0100% / 8h	6h 18m	$195K	$313K	20x
Short	Popdex AVAXUSDT	11.098	0.0096	get 0.0012% / 1h	18m 40s	$15K	$581K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against Orderly. 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 OrderlybpFee PopdexbpOrdersPrice spread, now −0.081%Rate

Funding earned: −$0.84
Price spread: −0.081% → −0.028%: −$5.26
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$18.5
Costs to cover: 0.124%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Popdex: live order book, 50 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 Orderly no order-book sample	—	—	—	—	—
Sell Popdex live order book, 50 min ago	1.78 bp	5.7 bp −$6	16.3 bp −$163	doesn't fit	doesn't fit

Orderly: 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 35 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	11.040	−0.603%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0044%	1h	11.095	−0.108%	$285K	$500K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0020%	1h	11.101	−0.054%	$5.2M	$8.2M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.119	+0.105%	$102K	$96K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.098	−0.077%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0050%	8h	11.107	0.000%	$12.1M	$36.7M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.115	+0.069%	$1.2M	$3.0M	10x	as long as short
Popdex AVAXUSDTshort	+0.0096%	1h	11.098	−0.081%	$15K	$581K	50x
Paradex AVAX-USD-PERP	+0.0100%	8h	11.114	+0.061%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.110	+0.027%	$2.3M	$1.4M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AVAX	+0.0100%	1h	11.119	+0.107%	$295K	$107K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.119	+0.105%	$118.6M	$455.3M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.117	+0.090%	$88.5M	$143.0M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.115	+0.072%	$20.0M	$122.9M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.116	+0.081%	$48.7M	$82.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.118	+0.099%	$15.5M	$22.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.109	+0.018%	$33.4M	$50.7M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.112	+0.045%	—	$83.3M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.110	+0.027%	$355K	$532K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.095	−0.104%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.112	+0.045%	$355K	$810K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.102	−0.045%	$178K	$678K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.106	−0.009%	$130K	$363K	10x	as long as short
Orderly PERP_AVAX_USDClong	+0.0100%	8h	11.107	long leg	$195K	$313K	20x
SunX AVAX-USDT	+0.0100%	8h	11.128	+0.185%	$12K	$713K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.102	−0.045%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.077	−0.274%	$360K	$870K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.105	−0.018%	$29.6M	$5.6M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.107	+0.001%	$671K	$1.7M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.103	−0.035%	$255K	—	3x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.101	−0.053%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.106	−0.005%	$4.3M	$11.8M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0288%	1h	11.105	−0.018%	$902K	$5.8M	50x	as long as short
Hyperliquid AVAX	+0.0394%	1h	11.128	+0.189%	$43.2M	$45.6M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.098	−0.078%	$235K	—	120x	as long as short