Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0336%/8h= −36.8% APRpaid last 24h −0.100%

Price spread now: OKX against GMX−0.216%52s7-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 OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.319%−$32 on $10k

Price spread, last 3 days (all we have)+0.254%+$25 · spread now −0.216%, 7d avg −0.088%

Together, before fees−0.065%−$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and OKX is 0.128% cheaper against GMX than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.088%). Swap the legs. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX AVAX/USD [AVAX-USDC]	11.155	L +0.0436% / S −0.0297%	pay 0.0055% / 1h	2m 31s	$236K	—	120x
Short	OKX AVAX-USDT-SWAP	11.131	0.0100	get 0.0100% / 8h	7h 02m	$19.9M	$129.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against GMX. 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 GMXbpFee OKXbpOrdersPrice spread, now −0.216%Rate

Funding earned: −$70.65
Price spread: −0.216% → −0.088%: −$12.81
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$105.47
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; OKX: live order book, 1 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 OKX live order book, 1 min ago	0.45 bp	9.2 bp −$9	21.3 bp −$213	72.9 bp −$7,294	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
Injective AVAX/USDC PERP	−0.1363%	1h	11.100	−0.494%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0109%	1h	11.153	−0.019%	$5.3M	$8.4M	25x	as long as short
Nado AVAX-PERP	−0.0071%	1h	11.128	−0.238%	$292K	$630K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.157	+0.018%	$103K	$105K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.157	+0.017%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.153	−0.019%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.136	−0.171%	$15K	$601K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.139	−0.147%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.151	−0.037%	$2.3M	$1.4M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.155	0.000%	$296K	$107K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AVAXUSDT	+0.0100%	8h	11.136	−0.175%	$119.0M	$474.0M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.134	−0.189%	$88.6M	$146.9M	75x	as long as short
OKX AVAX-USDT-SWAPshort	+0.0100%	8h	11.131	−0.216%	$19.9M	$129.1M	50x
Gate AVAX_USDT	+0.0100%	8h	11.149	−0.055%	$12.1M	$38.6M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.148	−0.063%	$50.1M	$89.5M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.156	+0.008%	$15.3M	$23.0M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.135	−0.180%	$33.8M	$53.0M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.135	−0.180%	—	$83.8M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.152	−0.028%	$357K	$550K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.188	+0.299%	$3.0M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.191	+0.322%	$353K	$847K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.191	+0.322%	$180K	$688K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.136	−0.171%	$131K	$370K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.161	+0.053%	$196K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.183	+0.249%	$12K	$719K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.153	−0.019%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.160	+0.043%	$363K	$943K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.150	−0.046%	$29.9M	$5.1M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.130	−0.220%	$671K	$2.0M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.152	−0.026%	$256K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0216%	1h	11.154	−0.010%	$4.3M	$12.5M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.155	−0.001%	$5.0M	$6.1M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.134	−0.191%	$1K	—	20x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0304%	1h	11.155	−0.001%	$902K	$6.3M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]long	L +0.0436% / S −0.0297%	1h	11.155	long leg	$236K	—	120x
Hyperliquid AVAX	+0.0657%	1h	11.154	−0.010%	$43.6M	$49.0M	10x	as long as short