Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0143%/8h= +15.6% APRpaid last 24h +0.120%

Price spread now: Orderly against Injective+1.288%7-day average +0.274% · you sell dearer than you buy

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

Long on Injective Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.304%+$30 on $10k

Price spread, last 3 days (all we have)−2.196%−$220 · spread now +1.288%, 7d avg +0.274%

Together, before fees−1.892%−$189 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Orderly is 1.015% dearer against Injective than usual: you sell high and buy low: +$101 more if the spread goes back to its 7-day average of +0.274%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective AVAX/USDC PERP	11.100	−0.0043	get 0.0005% / 1h	33m 11s	$17K	$127K	12x
Short	Orderly PERP_AVAX_USDC	11.243	0.0100	get 0.0100% / 8h	2h 33m	$202K	$302K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +1.288%Rate

Funding earned: $29.96
Price spread: +1.288% → +0.274%: $101.47
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Orderly: 3 bp × 2 orders: −$6
Net: $125.42
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Injective: live order book, 55 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 Injective live order book, 55 min ago	27.20 bp	63.4 bp −$63	doesn't fit	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
Deribit AVAX_USDC-PERPETUAL	−0.0195%	1h	11.238	+1.243%	$5.3M	$9.4M	25x	as long as short
Variational Omni AVAX	−0.0155%	8h	11.233	+1.199%	$2.9M	$2.1M	—	as long as short
Nado AVAX-PERP	−0.0108%	1h	11.238	+1.243%	$297K	$956K	10x	as long as short
Injective AVAX/USDC PERPlong	−0.0043%	1h	11.100	long leg	$17K	$127K	12x
dYdX AVAX-USD	0.0000%	1h	11.242	+1.279%	$99K	$115K	10x	as long as short
Extended AVAX-USD	0.0000%	1h	11.236	+1.227%	$669K	$2.3M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.239	+1.250%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0051%	8h	11.239	+1.252%	$12.6M	$39.9M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0055%	8h	11.237	+1.234%	$20.0M	$147.8M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0056%	1h	11.243	+1.288%	$911K	$8.2M	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	+0.0059%	8h	11.240	+1.261%	$30.2M	$4.8M	50x	as long as short
MEXC AVAX_USDT	+0.0074%	8h	11.236	+1.225%	$53.5M	$109.1M	200x	as long as short
Binance AVAXUSDT	+0.0075%	8h	11.236	+1.225%	$120.6M	$537.7M	75x	as long as short
Bybit AVAXUSDT	+0.0076%	8h	11.242	+1.279%	$86.6M	$152.4M	75x	as long as short
Paradex AVAX-USD-PERP	+0.0096%	8h	11.235	+1.217%	$13K	$766	20x	as long as short
Lighter AVAX	+0.0096%	1h	11.237	+1.233%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.236	+1.225%	$9K	$701K	50x	as long as short
Aevo AVAX-PERP	+0.0096%	1h	11.235	+1.219%	$258K	—	3x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.240	+1.261%	$2.3M	$1.9M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.242	+1.278%	$299K	$122K	10x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.242	+1.279%	$16.1M	$24.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.239	+1.252%	$34.5M	$61.0M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.239	+1.252%	—	$90.3M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.239	+1.252%	$333K	$560K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.240	+1.257%	$356K	$910K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.252	+1.369%	$181K	$684K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.239	+1.252%	$130K	$483K	10x	as long as short
Orderly PERP_AVAX_USDCshort	+0.0100%	8h	11.243	+1.288%	$202K	$302K	20x
SunX AVAX-USDT	+0.0100%	8h	11.264	+1.473%	$12K	$715K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.237	+1.234%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.236	+1.221%	$360K	$1.1M	75x	as long as short
BloFin AVAX-USDT	+0.0195%	8h	11.241	+1.270%	$5.0M	$8.5M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.236	+1.226%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.247	+1.322%	$4.7M	$13.7M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0405% / S −0.0245%	1h	11.239	+1.254%	$242K	—	120x	as long as short
Hyperliquid AVAX	+0.0510%	1h	11.257	+1.414%	$43.4M	$58.4M	10x	as long as short