Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0198%/8h= −21.7% APRpaid last 24h −0.022%

Price spread now: Gate against Popdex−0.009%7-day average −0.019% · 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−$43as in the Price arb table

costs, in and out, $10k−$440.443% of the position

Long on Popdex Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.036%−$4 on $10k

Price spread, last 4 days (all we have)+0.015%+$2 · spread now −0.009%, 7d avg −0.019%

Together, before fees−0.021%−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.019%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.036% in total (about -3.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex AVAXUSDT	10.889	0.0096	pay 0.0012% / 1h	54m 30s	$23K	$438K	50x
Short	Gate AVAX_USDT	10.888	−0.0102	pay 0.0102% / 8h	5h 54m	$14.6M	$26.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.009%Rate

Funding earned: −$41.58
Price spread: −0.009% → −0.019%: $1.02
Slippage, 4 orders: −$22.94
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$84.9
Costs to cover: 0.443%
Break-even: never at this rate

Slippage from Popdex: live order book, 57 min ago; Gate: live order book, 2 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, 57 min ago	2.31 bp	7.0 bp −$7	21.6 bp −$216	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	0.92 bp	15.8 bp −$16	23.6 bp −$236	36.6 bp −$3,660	62.8 bp −$31.4K

AVAX on 36 exchanges

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
Variational Omni AVAX	−0.0140%	8h	10.876	−0.122%	$3.1M	$2.1M	—	as long as short
SoDEX AVAX-USD	−0.0104%	1h	10.888	−0.009%	$19K	$68K	10x	as long as short
Gate AVAX_USDTshort	−0.0102%	8h	10.888	−0.009%	$14.6M	$26.6M	75x
Kraken Futures PF_AVAXUSD	−0.0056%	1h	10.894	+0.049%	$3.8M	$10.9M	50x	as long as short
Bybit AVAXUSDT	−0.0044%	8h	10.885	−0.037%	$84.9M	$132.2M	75x	as long as short
Phemex AVAXUSDT	−0.0042%	8h	10.886	−0.028%	$29.0M	$5.6M	50x	as long as short
Nado AVAX-PERP	−0.0018%	1h	10.886	−0.028%	$277K	$300K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.893	+0.039%	$93K	$100K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.893	+0.037%	$5.0M	$6.6M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0002%	1h	10.892	+0.030%	$23K	—	150x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	−1.185%	$17K	$151K	12x	as long as short
OKX AVAX-USDT-SWAP	+0.0095%	8h	10.887	−0.018%	$19.4M	$102.8M	50x	as long as short
Lighter AVAX	+0.0096%	1h	10.889	+0.001%	$1.2M	$1.9M	10x	as long as short
Popdex AVAXUSDTlong	+0.0096%	1h	10.889	long leg	$23K	$438K	50x
Paradex AVAX-USD-PERP	+0.0099%	8h	10.888	−0.013%	$12K	$62	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.889	+0.002%	$2.2M	$1.3M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.891	+0.018%	$274K	$122K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.890	+0.005%	$115.0M	$373.3M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.889	0.000%	$53.2M	$69.2M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.892	+0.028%	$14.3M	$18.9M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.886	−0.028%	$33.1M	$43.3M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.887	−0.018%	—	$52.4M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.891	+0.018%	$440K	$523K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.890	+0.009%	$342K	$1.5M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.913	+0.220%	$175K	$660K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.890	+0.009%	$137K	$247K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.897	+0.073%	$236K	$217K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.918	+0.264%	$12K	$772K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.889	−0.005%	$326K	$948K	75x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.882	−0.065%	$618K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.885	−0.037%	$250K	—	3x	as long as short
Hyperliquid AVAX	+0.0119%	1h	10.905	+0.147%	$36.2M	$37.4M	10x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0208%	1h	10.924	+0.321%	$863K	$5.1M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.892	+0.028%	$4.8M	$5.2M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.885	−0.038%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0294%	1h	10.892	+0.023%	$230K	—	120x	as long as short