Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0002%/8h= +0.2% APRpaid last 24h +0.031%

Price spread now: Popdex against Bybit−0.009%7-day average +0.049% · 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−$37as in the Price arb table

costs, in and out, $10k−$310.310% 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)+0.051%+$5 · spread now −0.009%, 7d avg +0.049%

Together, before fees+0.091%+$9 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 0.058% cheaper against Bybit than usual: you would sell low and buy high, −$6 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	10.683	0.0094	pay 0.0094% / 8h	1h 45m	$81.4M	$147.2M	75x
Short	Popdex AVAXUSDT	10.682	0.0096	get 0.0012% / 1h	45m 57s	$23K	$427K	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 −0.009%Rate

Funding earned: $0.45
Price spread: −0.009% → +0.049%: −$5.8
Slippage, 4 orders: −$13.64
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$36.4
Costs to cover: 0.310%
Break-even: 573.9 days

Slippage from Bybit: live order book, 3 min ago; Popdex: live order book, 63 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, 3 min ago	0.47 bp	8.1 bp −$8	13.7 bp −$137	42.3 bp −$4,227	doesn't fit
Sell Popdex live order book, 63 min ago	1.89 bp	7.0 bp −$7	21.3 bp −$213	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	−0.0193%	1h	10.679	−0.037%	$286K	$338K	10x	as long as short
Variational Omni AVAX	−0.0038%	8h	10.723	+0.372%	$2.8M	$2.1M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.685	+0.017%	$89K	$117K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.690	+0.066%	$4.8M	$7.2M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.690	+0.064%	$12K	—	150x	as long as short
Gate AVAX_USDT	+0.0033%	8h	10.689	+0.056%	$12.7M	$32.1M	75x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	+0.721%	$17K	$152K	12x	as long as short
SoDEX AVAX-USD	+0.0063%	1h	10.686	+0.028%	$18K	$72K	10x	as long as short
Paradex AVAX-USD-PERP	+0.0092%	8h	10.686	+0.024%	$12K	$212	20x	as long as short
Bybit AVAXUSDTlong	+0.0094%	8h	10.683	long leg	$81.4M	$147.2M	75x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AVAX	+0.0096%	1h	10.687	+0.037%	$1.2M	$2.5M	10x	as long as short
Popdex AVAXUSDTshort	+0.0096%	1h	10.682	−0.009%	$23K	$427K	50x
Hyperliquid AVAX	+0.0100%	1h	10.697	+0.131%	$37.4M	$44.0M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.693	+0.094%	$2.2M	$1.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.686	+0.028%	$268K	$132K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.687	+0.033%	$113.7M	$427.5M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.682	−0.009%	$18.7M	$112.8M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.685	+0.019%	$44.6M	$80.4M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.688	+0.047%	$13.6M	$22.9M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.682	−0.009%	$32.3M	$48.9M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.686	+0.028%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.690	+0.066%	$427K	$561K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.716	+0.306%	$340K	$1.0M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.718	+0.328%	$173K	$664K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.682	−0.009%	$135K	$354K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.694	+0.103%	$230K	$351K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.711	+0.261%	$12K	$764K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.685	+0.023%	$342K	$873K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.686	+0.028%	$28.5M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.681	−0.023%	$609K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.686	+0.026%	$245K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0113%	1h	10.692	+0.083%	$4.2M	$11.3M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0200%	1h	10.734	+0.477%	$934K	$5.1M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.684	+0.009%	$4.6M	$5.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.677	−0.053%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0295%	1h	10.688	+0.049%	$226K	—	120x	as long as short