Funding arb · Price arb /

AVAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.003%

Price spread now: Popdex against KuCoin−0.027%7-day average +0.013% · 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−$49as in the Price arb table

costs, in and out, $10k−$450.448% of the position

Long on KuCoin Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.052%+$5 · spread now −0.027%, 7d avg +0.013%

Together, before fees+0.054%+$5 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 0.040% cheaper against KuCoin than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin AVAXUSDTM	11.146	0.0100	pay 0.0100% / 8h	5h 01m	$15.7M	$21.8M	75x
Short	Popdex AVAXUSDT	11.143	0.0096	get 0.0012% / 1h	1m 14s	$16K	$561K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against KuCoin. 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 KuCoinbpFee PopdexbpOrdersPrice spread, now −0.027%Rate

Funding earned: −$0.84
Price spread: −0.027% → +0.013%: −$3.95
Slippage, 4 orders: −$26.43
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$49.62
Costs to cover: 0.448%
Break-even: never at this rate

Slippage from KuCoin: 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 KuCoin live order book, 3 min ago	0.90 bp	15.1 bp −$15	31.2 bp −$312	doesn't fit	doesn't fit
Sell Popdex live order book, 63 min ago	0.45 bp	4.9 bp −$5	14.0 bp −$140	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
Injective AVAX/USDC PERP	−0.1374%	1h	11.120	−0.233%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0109%	1h	11.144	−0.018%	$5.2M	$7.9M	25x	as long as short
Nado AVAX-PERP	−0.0062%	1h	11.138	−0.072%	$287K	$395K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.145	−0.011%	$101K	$94K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.145	−0.007%	$13K	—	150x	as long as short
Kraken Futures PF_AVAXUSD	+0.0045%	1h	11.151	+0.041%	$4.3M	$11.4M	50x	as long as short
Lighter AVAX	+0.0096%	1h	11.147	+0.013%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDTshort	+0.0096%	1h	11.143	−0.027%	$16K	$561K	50x
Paradex AVAX-USD-PERP	+0.0100%	8h	11.143	−0.025%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.146	−0.002%	$2.3M	$1.2M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AVAX	+0.0100%	1h	11.147	+0.009%	$291K	$114K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.152	+0.054%	$118.8M	$429.6M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.145	−0.009%	$88.4M	$137.7M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.154	+0.072%	$20.4M	$116.7M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.144	−0.018%	$12.2M	$35.1M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.143	−0.027%	$48.7M	$79.7M	200x	as long as short
KuCoin AVAXUSDTMlong	+0.0100%	8h	11.146	long leg	$15.7M	$21.8M	75x
Bitget AVAXUSDT	+0.0100%	8h	11.148	+0.018%	$33.5M	$48.3M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.144	−0.018%	—	$81.0M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.141	−0.045%	$330K	$521K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.140	−0.051%	$2.9M	$2.3M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.145	−0.006%	$356K	$835K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.144	−0.018%	$179K	$672K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.147	+0.009%	$131K	$349K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.156	+0.090%	$196K	$312K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.174	+0.248%	$12K	$703K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.147	+0.009%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.148	+0.013%	$366K	$855K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.152	+0.054%	$29.8M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.148	+0.022%	$684K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.141	−0.048%	$256K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.152	+0.054%	$5.1M	$5.5M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.144	−0.018%	$894K	$5.3M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.142	−0.040%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.145	−0.012%	$236K	—	120x	as long as short
Hyperliquid AVAX	+0.0613%	1h	11.162	+0.148%	$43.5M	$42.4M	10x	as long as short