Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0227%/8h= −24.9% APRpaid last 24h −0.060%

Price spread now: Variational Omni against Kraken Futures−0.470%7-day average −0.102% · you buy dearer than you sell

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

Long on Kraken Futures Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.110%−$11 on $10k

Price spread, last 3 days (all we have)+0.446%+$45 · spread now −0.470%, 7d avg −0.102%

Together, before fees+0.336%+ Points / potential airdropVariational Omni: Active · farm board+$34 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Variational Omni is 0.369% cheaper against Kraken Futures than usual: you would sell low and buy high (−$37 if the spread goes back to its 7-day average of −0.102%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_AVAXUSD	11.275	0.0269	pay 0.0034% / 1h	50m 39s	$4.6M	$13.3M	50x
Short	Variational Omni AVAX	11.222	0.0042	get 0.0042% / 8h	50m 39s	$3.0M	$2.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Kraken Futures. 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 Kraken FuturesbpFee Variational OmnibpOrdersPrice spread, now −0.470%Rate

Funding earned: −$47.74
Price spread: −0.470% → −0.102%: −$36.89
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$94.63
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 3 min ago; Variational Omni: RFQ quote, 3 min ago. 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 Kraken Futures live order book, 3 min ago	2.66 bp	11.1 bp −$11	14.7 bp −$147	47.2 bp −$4,717	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	3.20 bp	doesn't fit	9.0 bp −$90	doesn't fit	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 PERP	−0.1451%	1h	11.200	−0.665%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0105%	1h	11.265	−0.089%	$297K	$888K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0016%	1h	11.271	−0.036%	$5.4M	$9.0M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.274	−0.007%	$104K	$111K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.273	−0.019%	$13K	—	150x	as long as short
Variational Omni AVAXshort	+0.0042%	8h	11.222	−0.470%	$3.0M	$2.4M	—
Lighter AVAX	+0.0096%	1h	11.278	+0.028%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.272	−0.027%	$18K	$677K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.275	−0.002%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.270	−0.042%	$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	11.279	+0.038%	$300K	$120K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.276	+0.011%	$120.6M	$520.0M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.269	−0.053%	$89.6M	$156.3M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.264	−0.098%	$20.3M	$145.4M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.266	−0.080%	$12.3M	$40.1M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.265	−0.089%	$51.4M	$93.0M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.279	+0.035%	$15.8M	$24.4M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.262	−0.116%	$34.3M	$59.4M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.261	−0.124%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.267	−0.071%	$360K	$569K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.253	−0.197%	$359K	$877K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.266	−0.080%	$181K	$685K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.274	−0.009%	$134K	$457K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.281	+0.053%	$205K	$303K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.291	+0.141%	$12K	$733K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.271	−0.036%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.271	−0.040%	$364K	$1.0M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.269	−0.053%	$30.3M	$5.0M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.256	−0.166%	$672K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.273	−0.017%	$259K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.269	−0.053%	$5.0M	$7.8M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.270	−0.044%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSDlong	+0.0269%	1h	11.275	long leg	$4.6M	$13.3M	50x
Coinbase International AVAX-PERP-INTX	+0.0280%	1h	11.278	+0.026%	$919K	$8.1M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0417% / S −0.0268%	1h	11.272	−0.028%	$238K	—	120x	as long as short
Hyperliquid AVAX	+0.0816%	1h	11.293	+0.159%	$43.7M	$55.2M	10x	as long as short