Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.1521%/8h= +166.6% APRpaid last 24h +0.243%

Price spread now: OKX against Injective+0.440%7-day average +0.179% · you sell dearer than you buy

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$90as in the Price arb table

costs, in and out, $10k−$1161.162% of the position

Long on Injective Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.381%+$38 on $10k

Price spread, last 4 days (all we have)−1.187%−$119 · spread now +0.440%, 7d avg +0.179%

Together, before fees−0.806%−$81 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$46 a day on $10k at the current rate, and OKX is 0.262% dearer against Injective than usual: you sell high and buy low: +$26 more if the spread goes back to its 7-day average of +0.179%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.381% in total (about 19.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective AVAX/USDC PERP	10.900	−0.1421	get 0.0178% / 1h	30m 56s	$17K	$151K	12x
Short	OKX AVAX-USDT-SWAP	10.948	0.0100	get 0.0100% / 8h	3h 30m	$20.0M	$113.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Injective. 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 InjectivebpFee OKXbpOrdersPrice spread, now +0.440%Rate

Funding earned: $319.44
Price spread: +0.440% → +0.179%: $26.17
Slippage, 4 orders: −$106.2
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee OKX: 5 bp × 2 orders: −$10
Net: $229.39
Costs to cover: 1.162%
Break-even: 2.0 days

Slippage from Injective: live order book, 23 min ago; OKX: 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 Injective live order book, 23 min ago	40.93 bp	59.0 bp −$59	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	0.46 bp	8.1 bp −$8	16.8 bp −$168	50.3 bp −$5,029	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
Injective AVAX/USDC PERPlong	−0.1421%	1h	10.900	long leg	$17K	$151K	12x
dYdX AVAX-USD	0.0000%	1h	10.939	+0.359%	$96K	$97K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.956	+0.514%	$5.0M	$7.8M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.952	+0.475%	$12K	—	150x	as long as short
Kraken Futures PF_AVAXUSD	+0.0020%	1h	10.957	+0.526%	$4.2M	$11.2M	50x	as long as short
Nado AVAX-PERP	+0.0031%	1h	10.946	+0.427%	$284K	$318K	10x	as long as short
Lighter AVAX	+0.0096%	1h	10.955	+0.504%	$1.2M	$2.7M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.948	+0.440%	$15K	$452K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	10.934	+0.312%	$12K	$212	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.948	+0.442%	$2.2M	$1.1M	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	10.941	+0.372%	$276K	$131K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.951	+0.472%	$115.2M	$427.1M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.945	+0.413%	$83.2M	$140.6M	75x	as long as short
OKX AVAX-USDT-SWAPshort	+0.0100%	8h	10.948	+0.440%	$20.0M	$113.0M	50x
Gate AVAX_USDT	+0.0100%	8h	10.950	+0.459%	$12.1M	$32.4M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.953	+0.486%	$45.3M	$78.5M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.956	+0.514%	$15.4M	$21.7M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.947	+0.431%	$33.0M	$47.6M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.952	+0.477%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.953	+0.486%	$372K	$549K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	10.947	+0.427%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.937	+0.344%	$346K	$931K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.940	+0.367%	$176K	$668K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.953	+0.486%	$128K	$343K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.961	+0.560%	$193K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.978	+0.715%	$12K	$722K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.953	+0.486%	$18K	$71K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.945	+0.411%	$364K	$770K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.957	+0.523%	$29.2M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.944	+0.402%	$675K	$1.3M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.944	+0.399%	$251K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.947	+0.431%	$4.9M	$5.3M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	10.959	+0.541%	$892K	$5.2M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	10.951	+0.464%	$1K	—	20x	as long as short
Hyperliquid AVAX	+0.0324%	1h	10.964	+0.587%	$42.1M	$41.4M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	10.951	+0.472%	$232K	—	120x	as long as short