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 −0.009%

Price spread now: Bitget against Popdex−0.019%45s7-day average −0.041% · 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—prices read too far apart to compare

costs, in and out, $10k−$330.329% of the position

Long on Popdex Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.004%$0 on $10k

Price spread, last 4 days (all we have)−0.021%−$2 · spread now −0.019%, 7d avg −0.041%

Together, before fees−0.026%−$3 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: Bitget is 0.022% dearer against Popdex than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.041%. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex AVAXUSDT	10.714	0.0096	pay 0.0012% / 1h	55m 48s	$23K	$437K	50x
Short	Bitget AVAXUSDT	10.712	0.0100	get 0.0100% / 8h	1h 55m	$32.5M	$49.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.019%Rate

Funding earned: $0.84
Price spread: −0.019% → −0.041%: $2.22
Slippage, 4 orders: −$14.51
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$29.85
Costs to cover: 0.329%
Break-even: 255.8 days

Slippage from Popdex: live order book, 53 min ago; Bitget: live order book, 3 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, 53 min ago	1.89 bp	7.9 bp −$8	19.2 bp −$192	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	0.47 bp	10.0 bp −$10	16.6 bp −$166	36.7 bp −$3,669	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
Nado AVAX-PERP	−0.0251%	1h	10.709	−0.051%	$287K	$340K	10x	as long as short
Variational Omni AVAX	−0.0033%	8h	10.709	−0.050%	$2.8M	$2.1M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.719	+0.046%	$89K	$117K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.710	−0.037%	$4.8M	$7.5M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.712	−0.019%	$12K	—	150x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	+0.429%	$17K	$152K	12x	as long as short
Gate AVAX_USDT	+0.0035%	8h	10.714	0.000%	$12.7M	$31.9M	75x	as long as short
SoDEX AVAX-USD	+0.0039%	1h	10.707	−0.065%	$18K	$72K	10x	as long as short
Bybit AVAXUSDT	+0.0090%	8h	10.712	−0.019%	$82.0M	$149.1M	75x	as long as short
Lighter AVAX	+0.0096%	1h	10.715	+0.009%	$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 AVAXUSDTlong	+0.0096%	1h	10.714	long leg	$23K	$437K	50x
Paradex AVAX-USD-PERP	+0.0097%	8h	10.717	+0.024%	$12K	$212	20x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.726	+0.112%	$37.6M	$44.7M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.714	+0.002%	$2.2M	$1.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.719	+0.047%	$269K	$132K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.714	0.000%	$113.9M	$432.9M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.712	−0.019%	$18.8M	$114.0M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.711	−0.028%	$45.2M	$80.2M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.711	−0.028%	$13.6M	$23.0M	75x	as long as short
Bitget AVAXUSDTshort	+0.0100%	8h	10.712	−0.019%	$32.5M	$49.2M	75x
BingX AVAX-USDT	+0.0100%	8h	10.714	0.000%	—	$54.1M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.712	−0.019%	$428K	$564K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.722	+0.073%	$345K	$1.0M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.723	+0.084%	$173K	$663K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.713	−0.009%	$136K	$354K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.716	+0.019%	$230K	$351K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.742	+0.262%	$11K	$767K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.706	−0.079%	$343K	$879K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.705	−0.084%	$28.6M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.707	−0.062%	$612K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.707	−0.070%	$246K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0113%	1h	10.709	−0.046%	$4.2M	$11.5M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0200%	1h	10.724	+0.093%	$933K	$5.1M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.712	−0.019%	$4.7M	$5.7M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.709	−0.049%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0295%	1h	10.712	−0.017%	$227K	—	120x	as long as short