Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0305%/8h= −33.4% APRpaid last 24h −0.092%

Price spread now: BingX against GMX−0.044%7-day average −0.088% · you buy dearer than you sell

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

Long on GMX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.298%−$30 on $10k

Price spread, last 3 days (all we have)+0.209%+$21 · spread now −0.044%, 7d avg −0.088%

Together, before fees−0.089%−$9 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.044% dearer against GMX than usual: you sell high and buy low (spread −0.044% now, against its 7-day average of −0.088%): +$4 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 12 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX AVAX/USD [AVAX-USDC]	11.328	L +0.0405% / S −0.0245%	pay 0.0051% / 1h	58m 28s	$245K	—	120x
Short	BingX AVAX-USDT	11.323	0.0100	get 0.0100% / 8h	1h 58m	—	$89.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against GMX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BingXbpOrdersPrice spread, now −0.044%Rate

Funding earned: −$64.15
Price spread: −0.044% → −0.088%: $4.45
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$81.7
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; BingX: live order book, 11 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 BingX live order book, 11 min ago	0.88 bp	5.9 bp −$6	7.0 bp −$70	10.6 bp −$1,060	27.0 bp −$13.5K

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
Injective AVAX/USDC PERP	−0.0570%	1h	11.280	−0.423%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0191%	1h	11.325	−0.026%	$5.4M	$9.3M	25x	as long as short
Nado AVAX-PERP	−0.0100%	1h	11.331	+0.023%	$299K	$958K	10x	as long as short
Variational Omni AVAX	−0.0065%	8h	11.332	+0.036%	$3.0M	$2.2M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	11.325	−0.027%	$99K	$107K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0004%	1h	11.330	+0.018%	$16K	—	150x	as long as short
Gate AVAX_USDT	+0.0077%	8h	11.329	+0.009%	$12.7M	$39.1M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.326	−0.017%	$1.3M	$3.2M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.323	−0.044%	$13K	$705K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0098%	8h	11.320	−0.066%	$13K	$766	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster AVAXUSDT	+0.0100%	8h	11.327	−0.010%	$2.3M	$1.9M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.325	−0.022%	$301K	$121K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.323	−0.044%	$121.5M	$534.8M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.325	−0.026%	$91.1M	$156.2M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.325	−0.026%	$20.4M	$149.1M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.324	−0.035%	$54.9M	$99.0M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.327	−0.008%	$16.2M	$24.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.324	−0.035%	$34.9M	$60.8M	75x	as long as short
BingX AVAX-USDTshort	+0.0100%	8h	11.323	−0.044%	—	$89.9M	—
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.334	+0.054%	$341K	$564K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.331	+0.025%	$358K	$895K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.333	+0.045%	$186K	$684K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.328	+0.001%	$135K	$483K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.336	+0.071%	$204K	$302K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.364	+0.320%	$12K	$725K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.326	−0.017%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.323	−0.039%	$365K	$1.1M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.329	+0.009%	$30.5M	$5.0M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.321	−0.060%	$676K	$2.2M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.323	−0.039%	$260K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0192%	1h	11.343	+0.133%	$995K	$8.3M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.330	+0.018%	$5.0M	$8.5M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.325	−0.023%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]long	L +0.0405% / S −0.0245%	1h	11.328	long leg	$245K	—	120x
Hyperliquid AVAX	+0.0522%	1h	11.340	+0.107%	$44.0M	$58.8M	10x	as long as short
Kraken Futures PF_AVAXUSD	+0.0624%	1h	11.330	+0.020%	$4.6M	$13.5M	50x	as long as short