Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0206%/8h= +22.5% APRpaid last 24h +0.142%

Price spread now: Orderly against Deribit+0.036%7-day average +0.064% · you sell dearer than you buy

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

Long on Deribit Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.574%+$57 on $10k

Price spread, last 3 days (all we have)+0.062%+$6 · spread now +0.036%, 7d avg +0.064%

Together, before fees+0.636%+$64 on $10k · with fees, hour by hour

Funding pays, the price is against you. Orderly is 0.029% cheaper against Deribit than usual: you would sell low and buy high (spread +0.036% now, against its 7-day average of +0.064%). If the spread goes back, that is −$3 on $10k: about 11 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit AVAX_USDC-PERPETUAL	11.245	−0.0106	get 0.0013% / 1h	32m 02s	$5.3M	$9.4M	25x
Short	Orderly PERP_AVAX_USDC	11.249	0.0100	get 0.0100% / 8h	2h 32m	$202K	$302K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Deribit. 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 DeribitbpFee OrderlybpOrdersPrice spread, now +0.036%Rate

Funding earned: $43.17
Price spread: +0.036% → +0.064%: −$2.85
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: $27.32
Costs to cover: 0.130%
Break-even: 2.6 days

Slippage unknown: Deribit: live order book, 2 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 Deribit live order book, 2 min ago	0.89 bp	6.1 bp −$6	73.9 bp −$739	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
Variational Omni AVAX	−0.0155%	8h	11.233	−0.106%	$2.9M	$2.1M	—	as long as short
Nado AVAX-PERP	−0.0106%	1h	11.245	+0.004%	$297K	$956K	10x	as long as short
Deribit AVAX_USDC-PERPETUALlong	−0.0106%	1h	11.245	long leg	$5.3M	$9.4M	25x
Injective AVAX/USDC PERP	−0.0043%	1h	11.100	−1.289%	$17K	$127K	12x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.249	+0.039%	$99K	$115K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.251	+0.051%	$13K	—	150x	as long as short
Extended AVAX-USD	+0.0008%	1h	11.245	−0.002%	$669K	$2.3M	25x	as long as short
Gate AVAX_USDT	+0.0055%	8h	11.245	0.000%	$12.6M	$39.9M	75x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0056%	1h	11.249	+0.036%	$911K	$8.2M	50x	as long as short
OKX AVAX-USDT-SWAP	+0.0056%	8h	11.244	−0.009%	$20.0M	$147.9M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex AVAXUSDT	+0.0058%	8h	11.240	−0.044%	$30.2M	$4.8M	50x	as long as short
MEXC AVAX_USDT	+0.0074%	8h	11.245	0.000%	$55.3M	$109.3M	200x	as long as short
Binance AVAXUSDT	+0.0076%	8h	11.242	−0.025%	$120.6M	$537.8M	75x	as long as short
Bybit AVAXUSDT	+0.0078%	8h	11.247	+0.018%	$86.8M	$152.8M	75x	as long as short
Paradex AVAX-USD-PERP	+0.0096%	8h	11.240	−0.048%	$13K	$766	20x	as long as short
Lighter AVAX	+0.0096%	1h	11.243	−0.018%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.243	−0.018%	$9K	$701K	50x	as long as short
Aevo AVAX-PERP	+0.0096%	1h	11.241	−0.033%	$258K	—	3x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.246	+0.007%	$2.3M	$1.9M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.247	+0.015%	$299K	$122K	10x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.251	+0.053%	$16.1M	$24.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.247	+0.018%	$34.6M	$61.0M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.245	0.000%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.246	+0.009%	$333K	$562K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.240	−0.049%	$356K	$910K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.252	+0.062%	$181K	$684K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.252	+0.062%	$130K	$483K	10x	as long as short
Orderly PERP_AVAX_USDCshort	+0.0100%	8h	11.249	+0.036%	$202K	$302K	20x
SunX AVAX-USDT	+0.0100%	8h	11.271	+0.236%	$12K	$715K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.244	−0.009%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.243	−0.016%	$361K	$1.1M	75x	as long as short
BloFin AVAX-USDT	+0.0195%	8h	11.241	−0.036%	$5.0M	$8.5M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.249	+0.036%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.255	+0.089%	$4.7M	$13.7M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0405% / S −0.0245%	1h	11.249	+0.031%	$243K	—	120x	as long as short
Hyperliquid AVAX	+0.0521%	1h	11.264	+0.169%	$43.5M	$58.4M	10x	as long as short