Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.013%

Price spread now: Popdex against MEXC−0.045%7-day average +0.011% · 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−$19as in the Price arb table

costs, in and out, $10k−$130.134% of the position

Long on MEXC Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.005%$0 on $10k

Price spread, last 4 days (all we have)+0.032%+$3 · spread now −0.045%, 7d avg +0.011%

Together, before fees+0.037%+$4 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 0.056% cheaper against MEXC than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC AVAX_USDT	11.148	0.0100	pay 0.0100% / 8h	5h 04m	$48.8M	$79.7M	200x
Short	Popdex AVAXUSDT	11.143	0.0096	get 0.0012% / 1h	4m 07s	$16K	$561K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now −0.045%Rate

Funding earned: −$0.84
Price spread: −0.045% → +0.011%: −$5.55
Slippage, 4 orders: −$7.03
Fee MEXC: 0 bp × 2 orders: $0
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$19.82
Costs to cover: 0.134%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; Popdex: live order book, 60 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 MEXC live order book, 5 min ago	0.45 bp	1.9 bp −$2	4.8 bp −$48	32.4 bp −$3,244	97.7 bp −$48.8K
Sell Popdex live order book, 60 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	−0.251%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0109%	1h	11.143	−0.045%	$5.2M	$7.9M	25x	as long as short
Nado AVAX-PERP	−0.0063%	1h	11.142	−0.054%	$287K	$395K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.153	+0.047%	$103K	$87K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.145	−0.024%	$13K	—	150x	as long as short
Kraken Futures PF_AVAXUSD	+0.0045%	1h	11.150	+0.022%	$4.3M	$11.4M	50x	as long as short
Lighter AVAX	+0.0096%	1h	11.150	+0.018%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDTshort	+0.0096%	1h	11.143	−0.045%	$16K	$561K	50x
Paradex AVAX-USD-PERP	+0.0100%	8h	11.147	−0.011%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.145	−0.023%	$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	11.157	+0.083%	$291K	$114K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.149	+0.009%	$119.2M	$430.2M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.147	−0.009%	$88.4M	$137.8M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.151	+0.027%	$20.4M	$116.7M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.149	+0.009%	$12.2M	$35.1M	75x	as long as short
MEXC AVAX_USDTlong	+0.0100%	8h	11.148	long leg	$48.8M	$79.7M	200x
KuCoin AVAXUSDTM	+0.0100%	8h	11.152	+0.036%	$15.7M	$21.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.147	−0.009%	$33.5M	$48.3M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.150	+0.018%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.149	+0.009%	$330K	$521K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.140	−0.069%	$2.9M	$2.3M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.149	+0.009%	$354K	$822K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.148	0.000%	$179K	$674K	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	11.152	+0.036%	$196K	$312K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.179	+0.280%	$12K	$702K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.146	−0.018%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.146	−0.022%	$365K	$865K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.151	+0.027%	$29.8M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.142	−0.052%	$684K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.145	−0.027%	$256K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.143	−0.045%	$5.1M	$5.5M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.166	+0.161%	$895K	$5.4M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.140	−0.075%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.145	−0.030%	$236K	—	120x	as long as short
Hyperliquid AVAX	+0.0608%	1h	11.167	+0.170%	$43.6M	$42.4M	10x	as long as short