Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0305%/8h= −33.4% APRpaid last 24h −0.094%

Price spread now: Bitget against GMX+0.005%7-day average −0.090% · you sell dearer than you buy

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

Long on GMX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.305%−$30 on $10k

Price spread, last 3 days (all we have)+0.094%+$9 · spread now +0.005%, 7d avg −0.090%

Together, before fees−0.210%−$21 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.095% dearer against GMX than usual: you sell high and buy low (spread +0.005% now, against its 7-day average of −0.090%): +$10 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 25 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX AVAX/USD [AVAX-USDC]	11.325	L +0.0405% / S −0.0245%	pay 0.0051% / 1h	8m 28s	$244K	—	120x
Short	Bitget AVAXUSDT	11.326	0.0100	get 0.0100% / 8h	2h 08m	$34.9M	$61.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.005%Rate

Funding earned: −$64.14
Price spread: +0.005% → −0.090%: $9.52
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$78.62
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Bitget: 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 Bitget live order book, 11 min ago	0.44 bp	8.6 bp −$9	15.6 bp −$156	32.0 bp −$3,196	doesn't fit

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
Deribit AVAX_USDC-PERPETUAL	−0.0103%	1h	11.324	−0.012%	$5.4M	$9.4M	25x	as long as short
Variational Omni AVAX	−0.0092%	8h	11.306	−0.169%	$2.9M	$2.1M	—	as long as short
Nado AVAX-PERP	−0.0077%	1h	11.325	+0.001%	$299K	$959K	10x	as long as short
Injective AVAX/USDC PERP	−0.0043%	1h	11.260	−0.577%	$17K	$152K	12x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.335	+0.089%	$99K	$115K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0004%	1h	11.328	+0.020%	$16K	—	150x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0056%	1h	11.327	+0.014%	$994K	$8.3M	50x	as long as short
Gate AVAX_USDT	+0.0064%	8h	11.325	−0.003%	$12.7M	$40.4M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0089%	8h	11.325	−0.003%	$20.4M	$149.3M	50x	as long as short
Lighter AVAX	+0.0096%	1h	11.337	+0.106%	$1.3M	$3.2M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex AVAXUSDT	+0.0096%	1h	11.324	−0.012%	$10K	$702K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0098%	8h	11.329	+0.035%	$13K	$766	20x	as long as short
MEXC AVAX_USDT	+0.0098%	8h	11.326	+0.005%	$55.9M	$110.3M	200x	as long as short
Binance AVAXUSDT	+0.0099%	8h	11.324	−0.014%	$121.5M	$537.1M	75x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.328	+0.026%	$2.3M	$1.9M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.335	+0.085%	$301K	$121K	10x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.328	+0.023%	$90.8M	$155.8M	75x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.330	+0.041%	$16.5M	$24.5M	75x	as long as short
Bitget AVAXUSDTshort	+0.0100%	8h	11.326	+0.005%	$34.9M	$61.1M	75x
BingX AVAX-USDT	+0.0100%	8h	11.325	−0.003%	—	$90.0M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.328	+0.023%	$339K	$560K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.314	−0.101%	$358K	$895K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.313	−0.109%	$182K	$681K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.326	+0.005%	$133K	$482K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.334	+0.076%	$204K	$302K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.351	+0.231%	$12K	$722K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.324	−0.012%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.322	−0.034%	$363K	$1.1M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.326	+0.005%	$30.3M	$4.9M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.330	+0.039%	$676K	$2.2M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.319	−0.056%	$260K	—	3x	as long as short
BloFin AVAX-USDT	+0.0218%	8h	11.320	−0.048%	$5.0M	$8.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.324	−0.009%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0253%	1h	11.335	+0.087%	$4.6M	$13.6M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]long	L +0.0405% / S −0.0245%	1h	11.325	long leg	$244K	—	120x
Hyperliquid AVAX	+0.0677%	1h	11.342	+0.147%	$44.1M	$58.5M	10x	as long as short