AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.00 per $10,000 · paid last 24h −0.015%

Price spread now: Backpack against Popdex−0.101%7-day average +0.004% · 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−$46as in the Price arb table

costs, in and out, $10k−$360.355% of the position

Long on Popdex Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.052%−$5 on $10k

Price spread, last 4 days (all we have)+0.076%+$8 · spread now −0.101%, 7d avg +0.004%

Together, before fees+0.024%+$2 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: Backpack is 0.105% cheaper against Popdex than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex AVAXUSDT	10.896	0.0096	pay 0.0012% / 1h	0m 37s	$19K	$474K	50x
Short	Backpack AVAX_USDC_PERP	10.885	0.0100	get 0.0013% / 1h	0m 37s	$439K	$528K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Popdex. 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 PopdexbpFee BackpackbpOrdersPrice spread, now −0.101%Rate

Funding earned: $0.84
Price spread: −0.101% → +0.004%: −$10.45
Slippage, 4 orders: −$19.12
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$45.13
Costs to cover: 0.355%
Break-even: 383.1 days

Slippage from Popdex: live order book, 33 min ago; Backpack: live order book, 33 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 Popdex live order book, 33 min ago	2.33 bp	9.4 bp −$9	23.5 bp −$235	doesn't fit	doesn't fit
Sell Backpack live order book, 33 min ago	1.86 bp	9.7 bp −$10	39.6 bp −$396	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
Kraken Futures PF_AVAXUSD	−0.0263%	1h	10.891	−0.044%	$3.8M	$11.5M	50x	as long as short
Nado AVAX-PERP	−0.0147%	1h	10.889	−0.067%	$274K	$311K	10x	as long as short
Phemex AVAXUSDT	−0.0117%	8h	10.881	−0.138%	$29.0M	$5.6M	50x	as long as short
Variational Omni AVAX	−0.0094%	8h	10.874	−0.197%	$3.0M	$2.1M	—	as long as short
SoDEX AVAX-USD	−0.0067%	1h	10.889	−0.064%	$19K	$68K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.889	−0.065%	$93K	$111K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.893	−0.028%	$4.9M	$6.7M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.880	−0.147%	$12K	—	150x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	−1.248%	$17K	$151K	12x	as long as short
Gate AVAX_USDT	+0.0054%	8h	10.892	−0.037%	$14.2M	$29.8M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex AVAX-USD-PERP	+0.0092%	8h	10.882	−0.131%	$12K	$62	20x	as long as short
Lighter AVAX	+0.0096%	1h	10.887	−0.082%	$1.2M	$2.1M	10x	as long as short
Popdex AVAXUSDTlong	+0.0096%	1h	10.896	long leg	$19K	$474K	50x
Hyperliquid AVAX	+0.0100%	1h	10.902	+0.055%	$36.2M	$39.7M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.897	+0.009%	$2.2M	$1.4M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.891	−0.042%	$274K	$127K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.895	−0.009%	$114.8M	$387.4M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.893	−0.028%	$85.0M	$135.5M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.880	−0.147%	$19.4M	$106.6M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.884	−0.110%	$55.3M	$80.9M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.884	−0.110%	$14.0M	$19.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.887	−0.083%	$33.1M	$44.9M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.885	−0.101%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERPshort	+0.0100%	1h	10.885	−0.101%	$439K	$528K	15x
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.915	+0.174%	$352K	$1.3M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.915	+0.174%	$175K	$662K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.895	−0.009%	$139K	$240K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.895	−0.009%	$236K	$221K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.922	+0.239%	$12K	$776K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.883	−0.115%	$336K	$869K	75x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.889	−0.065%	$621K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.886	−0.089%	$250K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0200%	1h	10.891	−0.046%	$857K	$5.3M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.882	−0.128%	$4.7M	$5.3M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.882	−0.133%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0294%	1h	10.892	−0.036%	$230K	—	120x	as long as short