Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.038%

Price spread now: Orderly against Lighter+0.106%7-day average +0.069% · you sell dearer than you buy

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

Long on Lighter Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.125%+$13 on $10k

Price spread, last 3 days (all we have)−0.249%−$25 · spread now +0.106%, 7d avg +0.069%

Together, before fees−0.124%+ Points / potential airdropLighter: Season 3 · farm board−$12 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Orderly is 0.037% dearer against Lighter than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.069%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter AVAX	11.272	0.0096	pay 0.0012% / 1h	29m 20s	$1.2M	$3.1M	10x
Short	Orderly PERP_AVAX_USDC	11.284	0.0100	get 0.0100% / 8h	2h 29m	$203K	$302K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Lighter. 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 LighterbpFee OrderlybpOrdersPrice spread, now +0.106%Rate

Funding earned: $0.84
Price spread: +0.106% → +0.069%: $3.74
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$1.42
Costs to cover: 0.060%
Break-even: 18.9 days

Slippage unknown: Lighter: live order book, 3 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 Lighter live order book, 3 min ago	2.00 bp	3.7 bp −$4	12.0 bp −$120	82.2 bp −$8,219	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	−0.0142%	8h	11.251	−0.186%	$2.9M	$2.1M	—	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0105%	1h	11.276	+0.035%	$5.3M	$9.4M	25x	as long as short
Nado AVAX-PERP	−0.0100%	1h	11.274	+0.016%	$298K	$960K	10x	as long as short
Injective AVAX/USDC PERP	−0.0043%	1h	11.100	−1.526%	$17K	$127K	12x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.278	+0.052%	$99K	$115K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.278	+0.051%	$13K	—	150x	as long as short
Extended AVAX-USD	+0.0024%	1h	11.276	+0.033%	$672K	$2.3M	25x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0056%	1h	11.275	+0.027%	$914K	$8.2M	50x	as long as short
Gate AVAX_USDT	+0.0058%	8h	11.273	+0.009%	$12.7M	$40.0M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0059%	8h	11.276	+0.035%	$20.1M	$148.4M	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	+0.0062%	8h	11.276	+0.035%	$30.2M	$4.8M	50x	as long as short
MEXC AVAX_USDT	+0.0077%	8h	11.271	−0.009%	$55.1M	$109.5M	200x	as long as short
Binance AVAXUSDT	+0.0080%	8h	11.274	+0.018%	$120.9M	$537.9M	75x	as long as short
Bybit AVAXUSDT	+0.0086%	8h	11.280	+0.071%	$88.2M	$153.8M	75x	as long as short
Lighter AVAXlong	+0.0096%	1h	11.272	long leg	$1.2M	$3.1M	10x
Popdex AVAXUSDT	+0.0096%	1h	11.272	0.000%	$9K	$700K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0096%	8h	11.271	−0.012%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.275	+0.025%	$2.3M	$1.9M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.275	+0.027%	$300K	$122K	10x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.273	+0.009%	$16.1M	$24.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.276	+0.035%	$34.7M	$61.0M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.273	+0.009%	—	$6.6M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.276	+0.035%	$334K	$562K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.246	−0.228%	$356K	$910K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.249	−0.204%	$181K	$684K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.274	+0.018%	$131K	$483K	10x	as long as short
Orderly PERP_AVAX_USDCshort	+0.0100%	8h	11.284	+0.106%	$203K	$302K	20x
SunX AVAX-USDT	+0.0100%	8h	11.300	+0.245%	$12K	$716K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.272	0.000%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.267	−0.042%	$362K	$1.1M	75x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.274	+0.013%	$259K	—	3x	as long as short
BloFin AVAX-USDT	+0.0198%	8h	11.246	−0.231%	$5.0M	$8.5M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.269	−0.027%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.281	+0.079%	$4.7M	$13.7M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0405% / S −0.0245%	1h	11.276	+0.032%	$243K	—	120x	as long as short
Hyperliquid AVAX	+0.0549%	1h	11.289	+0.151%	$43.7M	$58.5M	10x	as long as short