Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0251%/8h= −27.5% APRpaid last 24h −0.072%

Price spread now: Variational Omni against Lighter+0.042%7-day average +0.009% · you sell dearer than you buy

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

Long on Lighter Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.123%−$12 on $10k

Price spread, last 4 days (all we have)+0.059%+$6 · spread now +0.042%, 7d avg +0.009%

Together, before fees−0.064%+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm board−$6 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.033% dearer against Lighter than usual: you sell high and buy low (spread +0.042% now, against its 7-day average of +0.009%): +$3 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 11 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter AVAX	11.228	0.0096	pay 0.0012% / 1h	33m 57s	$1.2M	$3.1M	10x
Short	Variational Omni AVAX	11.233	−0.0155	pay 0.0155% / 8h	2h 33m	$2.9M	$2.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Lighter. 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 LighterbpFee Variational OmnibpOrdersPrice spread, now +0.042%Rate

Funding earned: −$52.69
Price spread: +0.042% → +0.009%: $3.32
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$49.37
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Lighter: live order book, 3 min ago; Variational Omni: RFQ quote, 5 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 Lighter live order book, 3 min ago	3.56 bp	3.6 bp −$4	11.5 bp −$115	92.0 bp −$9,197	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	3.17 bp	doesn't fit	13.9 bp −$139	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
Variational Omni AVAXshort	−0.0155%	8h	11.233	+0.042%	$2.9M	$2.1M	—
Nado AVAX-PERP	−0.0110%	1h	11.234	+0.050%	$297K	$956K	10x	as long as short
Injective AVAX/USDC PERP	−0.0043%	1h	11.100	−1.144%	$17K	$127K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0017%	1h	11.232	+0.032%	$5.3M	$9.4M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.235	+0.057%	$99K	$115K	10x	as long as short
Extended AVAX-USD	0.0000%	1h	11.241	+0.110%	$669K	$2.3M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.234	+0.047%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0051%	8h	11.242	+0.121%	$12.6M	$39.9M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0055%	8h	11.239	+0.094%	$20.0M	$147.8M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0056%	1h	11.236	+0.068%	$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	+0.0057%	8h	11.229	+0.005%	$30.1M	$4.8M	50x	as long as short
Bybit AVAXUSDT	+0.0073%	8h	11.243	+0.130%	$86.6M	$152.4M	75x	as long as short
MEXC AVAX_USDT	+0.0073%	8h	11.240	+0.103%	$53.5M	$109.1M	200x	as long as short
Binance AVAXUSDT	+0.0075%	8h	11.239	+0.093%	$120.7M	$537.7M	75x	as long as short
Paradex AVAX-USD-PERP	+0.0096%	8h	11.234	+0.053%	$13K	$766	20x	as long as short
Lighter AVAXlong	+0.0096%	1h	11.228	long leg	$1.2M	$3.1M	10x
Popdex AVAXUSDT	+0.0096%	1h	11.234	+0.050%	$9K	$701K	50x	as long as short
Aevo AVAX-PERP	+0.0096%	1h	11.226	−0.018%	$258K	—	3x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.242	+0.125%	$2.3M	$1.9M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.239	+0.097%	$299K	$122K	10x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.245	+0.148%	$16.1M	$24.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.240	+0.103%	$34.5M	$61.2M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.240	+0.103%	—	$6.6M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.238	+0.085%	$333K	$560K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.243	+0.132%	$356K	$910K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.252	+0.210%	$181K	$684K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.238	+0.085%	$130K	$483K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.238	+0.085%	$202K	$302K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.264	+0.313%	$12K	$716K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.227	−0.012%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.226	−0.026%	$360K	$1.1M	75x	as long as short
BloFin AVAX-USDT	+0.0193%	8h	11.234	+0.050%	$5.0M	$8.5M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.234	+0.053%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.239	+0.099%	$4.7M	$13.7M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0405% / S −0.0244%	1h	11.232	+0.036%	$242K	—	120x	as long as short
Hyperliquid AVAX	+0.0496%	1h	11.250	+0.192%	$43.4M	$58.4M	10x	as long as short