Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0195%/8h= +21.3% APRpaid last 24h +0.052%

Price spread now: GMX against MEXC−0.039%7-day average +0.052% · you buy dearer than you sell

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

Long on MEXC Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.165%+$17 on $10k

Price spread, last 3 days (all we have)+0.004%$0 · spread now −0.039%, 7d avg +0.052%

Together, before fees+0.169%+$17 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.091% cheaper against MEXC than usual: you would sell low and buy high (spread −0.039% now, against its 7-day average of +0.052%). If the spread goes back, that is −$9 on $10k: about 37 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC AVAX_USDT	11.106	0.0100	pay 0.0100% / 8h	6h 16m	$48.6M	$82.8M	200x
Short	GMX AVAX/USD [AVAX-USDC]	11.102	L +0.0436% / S −0.0295%	get 0.0037% / 1h	16m 42s	$235K	—	120x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against MEXC. 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 MEXCbpFee GMXbpOrdersPrice spread, now −0.039%Rate

Funding earned: $40.92
Price spread: −0.039% → +0.052%: −$9.09
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: $19.83
Costs to cover: 0.120%
Break-even: 3.6 days

Slippage unknown: MEXC: live order book, 2 min ago; GMX: no order-book sample. 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 MEXC live order book, 2 min ago	0.45 bp	1.7 bp −$2	4.3 bp −$43	23.5 bp −$2,350	95.7 bp −$47.8K
Sell GMX no order-book sample	—	—	—	—	—

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 35 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	−0.1423%	1h	11.040	−0.594%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0110%	1h	11.100	−0.054%	$5.2M	$8.2M	25x	as long as short
Nado AVAX-PERP	−0.0043%	1h	11.101	−0.050%	$286K	$500K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.117	+0.099%	$102K	$96K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.102	−0.036%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0056%	8h	11.106	0.000%	$12.1M	$36.7M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.113	+0.065%	$1.2M	$3.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.101	−0.045%	$15K	$582K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.105	−0.008%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.104	−0.020%	$2.3M	$1.4M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AVAX	+0.0100%	1h	11.110	+0.040%	$295K	$107K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.112	+0.058%	$118.5M	$455.2M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.110	+0.036%	$88.4M	$142.9M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.108	+0.018%	$20.0M	$122.7M	50x	as long as short
MEXC AVAX_USDTlong	+0.0100%	8h	11.106	long leg	$48.6M	$82.8M	200x
KuCoin AVAXUSDTM	+0.0100%	8h	11.106	0.000%	$15.5M	$22.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.115	+0.081%	$33.4M	$50.7M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.107	+0.009%	—	$83.0M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.103	−0.027%	$355K	$532K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.095	−0.095%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.097	−0.083%	$354K	$798K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.100	−0.054%	$178K	$678K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.104	−0.018%	$130K	$363K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.107	+0.009%	$195K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.132	+0.231%	$12K	$713K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.102	−0.036%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.094	−0.105%	$360K	$854K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.102	−0.036%	$29.6M	$5.6M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.099	−0.067%	$671K	$1.7M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.102	−0.034%	$255K	—	3x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.097	−0.085%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.104	−0.015%	$4.3M	$11.8M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0288%	1h	11.126	+0.180%	$904K	$5.8M	50x	as long as short
Hyperliquid AVAX	+0.0393%	1h	11.131	+0.225%	$43.2M	$45.6M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]short	L +0.0436% / S −0.0295%	1h	11.102	−0.039%	$235K	—	120x