Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0092%/8h= −10.1% APRpaid last 24h −0.060%

Price spread now: Orderly against Coinbase International+0.027%7-day average −0.019% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Coinbase International Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.197%−$20 on $10k

Price spread, last 3 days (all we have)+0.002%$0 · spread now +0.027%, 7d avg −0.019%

Together, before fees−0.195%−$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Orderly is 0.045% dearer against Coinbase International than usual: you sell high and buy low (spread +0.027% now, against its 7-day average of −0.019%): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 39 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International AVAX-PERP-INTX	11.278	0.0192	pay 0.0024% / 1h	37m 35s	$910K	$8.3M	50x
Short	Orderly PERP_AVAX_USDC	11.281	0.0100	get 0.0100% / 8h	1h 37m	$203K	$301K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Coinbase InternationalbpFee OrderlybpOrdersPrice spread, now +0.027%Rate

Funding earned: −$19.32
Price spread: +0.027% → −0.019%: $4.52
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$30.8
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 1 min ago; Orderly: no order-book sample. Net counts fees only.

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 Coinbase International live order book, 1 min ago	4.88 bp	12.8 bp −$13	18.2 bp −$182	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.603%	$17K	$151K	12x	as long as short
Variational Omni AVAX	−0.0031%	8h	11.242	−0.317%	$3.0M	$2.4M	—	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0016%	1h	11.264	−0.124%	$5.3M	$9.2M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.265	−0.116%	$99K	$107K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0004%	1h	11.273	−0.045%	$16K	—	150x	as long as short
Nado AVAX-PERP	+0.0008%	1h	11.260	−0.160%	$297K	$896K	10x	as long as short
Lighter AVAX	+0.0096%	1h	11.261	−0.151%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.258	−0.177%	$16K	$694K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0099%	8h	11.259	−0.168%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.263	−0.133%	$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	11.264	−0.122%	$299K	$120K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.257	−0.185%	$120.3M	$526.4M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.254	−0.213%	$87.9M	$156.9M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.257	−0.186%	$20.3M	$146.6M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.260	−0.160%	$12.6M	$40.1M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.262	−0.142%	$52.4M	$99.9M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.273	−0.044%	$16.7M	$24.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.255	−0.204%	$34.3M	$60.4M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.261	−0.151%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.263	−0.133%	$359K	$571K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.254	−0.213%	$359K	$898K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.258	−0.177%	$181K	$686K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.257	−0.186%	$134K	$459K	10x	as long as short
Orderly PERP_AVAX_USDCshort	+0.0100%	8h	11.281	+0.027%	$203K	$301K	20x
SunX AVAX-USDT	+0.0100%	8h	11.303	+0.223%	$12K	$729K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.261	−0.151%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.271	−0.058%	$363K	$1.1M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.263	−0.133%	$30.3M	$5.0M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.257	−0.185%	$669K	$2.2M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.185	−0.820%	$257K	—	3x	as long as short
Coinbase International AVAX-PERP-INTXlong	+0.0192%	1h	11.278	long leg	$910K	$8.3M	50x
BloFin AVAX-USDT	+0.0220%	8h	11.255	−0.204%	$5.0M	$8.0M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.253	−0.226%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0396% / S −0.0236%	1h	11.274	−0.039%	$238K	—	120x	as long as short
Hyperliquid AVAX	+0.0573%	1h	11.275	−0.027%	$43.6M	$57.1M	10x	as long as short
Kraken Futures PF_AVAXUSD	+0.0628%	1h	11.265	−0.113%	$4.6M	$13.5M	50x	as long as short