Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0124%/8h= +13.6% APRpaid last 24h +0.020%

Price spread now: BloFin against Popdex−0.028%7-day average −0.005% · 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−$34as in the Price arb table

costs, in and out, $10k−$320.318% of the position

Long on Popdex Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.129%+$13 on $10k

Price spread, last 4 days (all we have)−0.153%−$15 · spread now −0.028%, 7d avg −0.005%

Together, before fees−0.024%−$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.022% cheaper against Popdex than usual: you would sell low and buy high (spread −0.028% now, against its 7-day average of −0.005%). If the spread goes back, that is −$2 on $10k: about 14 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex AVAXUSDT	10.848	0.0096	pay 0.0012% / 1h	47m 00s	$23K	$438K	50x
Short	BloFin AVAX-USDT	10.845	0.0220	get 0.0220% / 8h	5h 47m	$4.8M	$5.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Popdex. 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 PopdexbpFee BloFinbpOrdersPrice spread, now −0.028%Rate

Funding earned: $26.04
Price spread: −0.028% → −0.005%: −$2.22
Slippage, 4 orders: −$13.42
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$8
Costs to cover: 0.318%
Break-even: 9.2 days

Slippage from Popdex: live order book, 65 min ago; BloFin: live order book, 5 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 Popdex live order book, 65 min ago	2.31 bp	7.0 bp −$7	21.6 bp −$216	doesn't fit	doesn't fit
Sell BloFin live order book, 5 min ago	0.46 bp	8.9 bp −$9	11.2 bp −$112	29.4 bp −$2,941	65.8 bp −$32.9K

AVAX on 36 exchanges

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
Variational Omni AVAX	−0.0145%	8h	10.831	−0.159%	$3.0M	$2.1M	—	as long as short
Gate AVAX_USDT	−0.0112%	8h	10.852	+0.037%	$14.5M	$26.7M	75x	as long as short
Kraken Futures PF_AVAXUSD	−0.0056%	1h	10.853	+0.049%	$3.7M	$10.9M	50x	as long as short
SoDEX AVAX-USD	−0.0053%	1h	10.851	+0.028%	$18K	$67K	10x	as long as short
Bybit AVAXUSDT	−0.0052%	8h	10.853	+0.046%	$84.6M	$131.4M	75x	as long as short
Phemex AVAXUSDT	−0.0014%	8h	10.850	+0.018%	$28.9M	$5.6M	50x	as long as short
Nado AVAX-PERP	−0.0013%	1h	10.856	+0.074%	$276K	$299K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.853	+0.048%	$92K	$100K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.851	+0.028%	$5.0M	$6.6M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0002%	1h	10.854	+0.059%	$23K	—	150x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	−0.811%	$17K	$151K	12x	as long as short
OKX AVAX-USDT-SWAP	+0.0090%	8h	10.854	+0.055%	$19.3M	$101.6M	50x	as long as short
Lighter AVAX	+0.0096%	1h	10.851	+0.031%	$1.2M	$1.9M	10x	as long as short
Popdex AVAXUSDTlong	+0.0096%	1h	10.848	long leg	$23K	$438K	50x
Paradex AVAX-USD-PERP	+0.0099%	8h	10.855	+0.062%	$12K	$62	20x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.865	+0.157%	$36.2M	$37.6M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.854	+0.059%	$2.2M	$1.3M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.863	+0.135%	$273K	$105K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.854	+0.055%	$114.1M	$372.7M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.850	+0.018%	$52.4M	$69.4M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.857	+0.083%	$14.2M	$18.9M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.853	+0.046%	$33.1M	$43.2M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.851	+0.028%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.856	+0.074%	$438K	$521K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.840	−0.074%	$344K	$1.5M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.845	−0.028%	$174K	$660K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.848	0.000%	$137K	$247K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.857	+0.083%	$235K	$218K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.878	+0.273%	$12K	$774K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.848	−0.005%	$325K	$922K	75x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.851	+0.029%	$617K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.845	−0.032%	$249K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0208%	1h	10.860	+0.111%	$860K	$5.1M	50x	as long as short
BloFin AVAX-USDTshort	+0.0220%	8h	10.845	−0.028%	$4.8M	$5.2M	100x
Reya AVAXRUSDPERP	+0.0245%	1h	10.844	−0.034%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0445% / S −0.0296%	1h	10.851	+0.025%	$230K	—	120x	as long as short