Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.003%

Price spread now: Popdex against SunX−0.223%7-day average −0.258% · 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−$164as in the Price arb table

costs, in and out, $10k−$1681.679% of the position

Long on SunX Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.012%−$1 on $10k

Price spread, last 3 days (all we have)+0.050%+$5 · spread now −0.223%, 7d avg −0.258%

Together, before fees+0.038%+$4 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 0.035% dearer against SunX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.258%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX AVAX-USDT	11.148	0.0100	pay 0.0100% / 8h	5h 54m	$12K	$702K	20x
Short	Popdex AVAXUSDT	11.123	0.0096	get 0.0012% / 1h	54m 07s	$15K	$566K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against SunX. 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 SunXbpFee PopdexbpOrdersPrice spread, now −0.223%Rate

Funding earned: −$0.84
Price spread: −0.223% → −0.258%: $3.45
Slippage, 4 orders: −$153.48
Fee SunX: 4 bp × 2 orders: −$8
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$165.27
Costs to cover: 1.679%
Break-even: never at this rate

Slippage from SunX: live order book, 47 min ago; Popdex: live order book, 10 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 SunX live order book, 47 min ago	41.89 bp	55.3 bp −$55	doesn't fit	doesn't fit	doesn't fit
Sell Popdex live order book, 10 min ago	0.45 bp	4.9 bp −$5	14.0 bp −$140	doesn't fit	doesn't fit

AVAX on 35 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	−0.1374%	1h	11.060	−0.788%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0075%	1h	11.120	−0.246%	$286K	$453K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0019%	1h	11.141	−0.062%	$5.2M	$8.0M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.115	−0.291%	$102K	$87K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.137	−0.095%	$13K	—	150x	as long as short
Kraken Futures PF_AVAXUSD	+0.0045%	1h	11.141	−0.065%	$4.3M	$11.6M	50x	as long as short
Lighter AVAX	+0.0096%	1h	11.135	−0.119%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDTshort	+0.0096%	1h	11.123	−0.223%	$15K	$566K	50x
Paradex AVAX-USD-PERP	+0.0100%	8h	11.118	−0.268%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.130	−0.161%	$2.3M	$1.2M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AVAX	+0.0100%	1h	11.122	−0.231%	$290K	$113K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.135	−0.113%	$118.9M	$440.0M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.136	−0.107%	$88.4M	$139.1M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.133	−0.134%	$20.0M	$119.9M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.134	−0.125%	$12.1M	$34.8M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.137	−0.098%	$48.4M	$78.9M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.138	−0.089%	$15.6M	$21.9M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.138	−0.089%	$33.4M	$49.2M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.133	−0.134%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.136	−0.107%	$356K	$499K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.151	+0.025%	$3.0M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.099	−0.439%	$351K	$801K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.104	−0.394%	$178K	$680K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.132	−0.143%	$131K	$349K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.148	+0.001%	$196K	$313K	20x	as long as short
SunX AVAX-USDTlong	+0.0100%	8h	11.148	long leg	$12K	$702K	20x
SoDEX AVAX-USD	+0.0100%	1h	11.140	−0.071%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.131	−0.152%	$361K	$853K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.130	−0.161%	$29.7M	$5.6M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.138	−0.090%	$671K	$1.6M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.136	−0.109%	$256K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.144	−0.035%	$904K	$5.6M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.130	−0.164%	$1K	—	20x	as long as short
Hyperliquid AVAX	+0.0326%	1h	11.148	+0.001%	$43.4M	$43.6M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.137	−0.100%	$236K	—	120x	as long as short