Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.023%

Price spread now: Popdex against Orderly−0.140%7-day average −0.027% · you buy dearer than you sell

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

Long on Orderly Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.058%+$6 on $10k

Price spread, last 4 days (all we have)+0.221%+$22 · spread now −0.140%, 7d avg −0.027%

Together, before fees+0.279%+$28 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 0.113% cheaper against Orderly than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of −0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_AVAX_USDC	10.723	0.0100	pay 0.0100% / 8h	1h 54m	$231K	$351K	20x
Short	Popdex AVAXUSDT	10.708	0.0096	get 0.0012% / 1h	54m 07s	$23K	$437K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against Orderly. 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 OrderlybpFee PopdexbpOrdersPrice spread, now −0.140%Rate

Funding earned: −$0.84
Price spread: −0.140% → −0.027%: −$11.25
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$24.49
Costs to cover: 0.124%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Popdex: live order book, 55 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 Orderly no order-book sample	—	—	—	—	—
Sell Popdex live order book, 55 min ago	1.89 bp	7.0 bp −$7	21.3 bp −$213	doesn't fit	doesn't fit

Orderly: 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
Nado AVAX-PERP	−0.0210%	1h	10.706	−0.163%	$287K	$339K	10x	as long as short
Variational Omni AVAX	−0.0033%	8h	10.709	−0.134%	$2.8M	$2.1M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.713	−0.094%	$89K	$117K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.716	−0.065%	$4.8M	$7.3M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.716	−0.062%	$12K	—	150x	as long as short
Gate AVAX_USDT	+0.0033%	8h	10.713	−0.093%	$12.7M	$31.9M	75x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	+0.345%	$17K	$152K	12x	as long as short
SoDEX AVAX-USD	+0.0069%	1h	10.714	−0.084%	$18K	$72K	10x	as long as short
Bybit AVAXUSDT	+0.0091%	8h	10.711	−0.112%	$81.9M	$147.8M	75x	as long as short
Lighter AVAX	+0.0096%	1h	10.715	−0.077%	$1.2M	$2.5M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex AVAXUSDTshort	+0.0096%	1h	10.708	−0.140%	$23K	$437K	50x
Paradex AVAX-USD-PERP	+0.0096%	8h	10.709	−0.132%	$12K	$212	20x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.725	+0.022%	$37.6M	$43.8M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.713	−0.091%	$2.2M	$1.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.713	−0.093%	$269K	$132K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.715	−0.075%	$113.9M	$431.1M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.711	−0.112%	$18.8M	$113.5M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.714	−0.084%	$45.2M	$80.2M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.713	−0.093%	$13.6M	$23.0M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.714	−0.084%	$32.5M	$49.1M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.718	−0.047%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.716	−0.065%	$428K	$563K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.716	−0.062%	$336K	$1.0M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.720	−0.028%	$173K	$663K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.710	−0.121%	$136K	$354K	10x	as long as short
Orderly PERP_AVAX_USDClong	+0.0100%	8h	10.723	long leg	$231K	$351K	20x
SunX AVAX-USDT	+0.0100%	8h	10.738	+0.141%	$11K	$766K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.716	−0.070%	$343K	$879K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.718	−0.047%	$28.6M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.710	−0.125%	$610K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.708	−0.136%	$246K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0113%	1h	10.719	−0.039%	$4.2M	$11.4M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0200%	1h	10.724	+0.009%	$933K	$5.1M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.710	−0.121%	$4.7M	$5.7M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.704	−0.174%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0295%	1h	10.717	−0.060%	$226K	—	120x	as long as short