Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.013%

Price spread now: Binance against Popdex−0.053%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−$36as in the Price arb table

costs, in and out, $10k−$320.320% of the position

Long on Popdex Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.010%−$1 on $10k

Price spread, last 4 days (all we have)+0.056%+$6 · spread now −0.053%, 7d avg −0.013%

Together, before fees+0.046%+$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: Binance is 0.040% cheaper against Popdex 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	Popdex AVAXUSDT	11.235	0.0096	pay 0.0012% / 1h	8m 02s	$18K	$686K	50x
Short	Binance AVAXUSDT	11.229	0.0100	get 0.0100% / 8h	1h 08m	$120.3M	$524.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.053%Rate

Funding earned: $0.84
Price spread: −0.053% → −0.013%: −$4.03
Slippage, 4 orders: −$15.58
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Binance: 5 bp × 2 orders: −$10
Net: −$35.18
Costs to cover: 0.320%
Break-even: 300.1 days

Slippage from Popdex: live order book, 11 min ago; Binance: live order book, 6 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, 11 min ago	4.89 bp	8.9 bp −$9	18.8 bp −$188	doesn't fit	doesn't fit
Sell Binance live order book, 6 min ago	0.44 bp	6.1 bp −$6	11.0 bp −$110	37.6 bp −$3,763	123.9 bp −$62.0K

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	−0.0570%	1h	11.210	−0.223%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0106%	1h	11.228	−0.062%	$5.3M	$9.1M	25x	as long as short
Nado AVAX-PERP	−0.0040%	1h	11.224	−0.093%	$296K	$892K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.240	+0.042%	$103K	$106K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.229	−0.055%	$13K	—	150x	as long as short
Variational Omni AVAX	+0.0019%	8h	11.219	−0.143%	$3.0M	$2.4M	—	as long as short
Lighter AVAX	+0.0096%	1h	11.227	−0.068%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDTlong	+0.0096%	1h	11.235	long leg	$18K	$686K	50x
Paradex AVAX-USD-PERP	+0.0099%	8h	11.236	+0.012%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.229	−0.053%	$2.3M	$1.8M	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	11.242	+0.058%	$299K	$120K	10x	as long as short
Binance AVAXUSDTshort	+0.0100%	8h	11.229	−0.053%	$120.3M	$524.5M	75x
Bybit AVAXUSDT	+0.0100%	8h	11.227	−0.071%	$89.2M	$157.4M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.227	−0.071%	$20.2M	$146.0M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.227	−0.071%	$12.5M	$40.7M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.231	−0.036%	$51.5M	$100.3M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.232	−0.027%	$16.0M	$24.4M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.228	−0.062%	$34.1M	$59.9M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.228	−0.062%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.226	−0.080%	$359K	$568K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.253	+0.160%	$359K	$877K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.256	+0.187%	$181K	$685K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.232	−0.027%	$134K	$459K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.238	+0.027%	$202K	$301K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.269	+0.302%	$12K	$734K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.229	−0.053%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.229	−0.058%	$363K	$1.1M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.228	−0.062%	$30.2M	$5.0M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.226	−0.078%	$669K	$2.2M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.226	−0.078%	$258K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0192%	1h	11.235	0.000%	$910K	$8.2M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.240	+0.045%	$5.0M	$8.0M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.224	−0.102%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0411% / S −0.0259%	1h	11.224	−0.097%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0591%	1h	11.239	+0.036%	$43.4M	$56.6M	10x	as long as short
Kraken Futures PF_AVAXUSD	+0.0630%	1h	11.233	−0.017%	$4.6M	$13.5M	50x	as long as short