Funding arb · Price arb /

AVAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0027%/8h= +3.0% APRpaid last 24h −0.041%

Price spread now: Variational Omni against Nado−0.112%7-day average −0.055% · you buy dearer than you sell

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

Long on Nado Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.100%−$10 on $10k

Price spread, last 4 days (all we have)+0.071%+$7 · spread now −0.112%, 7d avg −0.055%

Together, before fees−0.029%+ Points / potential airdropNado: Active · Variational Omni: Active · farm board−$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.058% cheaper against Nado than usual: you would sell low and buy high (spread −0.112% now, against its 7-day average of −0.055%). If the spread goes back, that is −$6 on $10k: about 7.1 days of funding at the current rate (+$1 a day). Mind the row above: over the last 3 days funding on this pair cost −0.100%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado AVAX-PERP	10.546	−0.0054	get 0.0007% / 1h	20m 58s	$286K	$340K	10x
Short	Variational Omni AVAX	10.535	−0.0027	pay 0.0027% / 8h	2h 20m	$2.7M	$2.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Nado. 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 NadobpFee Variational OmnibpOrdersPrice spread, now −0.112%Rate

Funding earned: $5.69
Price spread: −0.112% → −0.055%: −$5.78
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$7.08
Costs to cover: 0.070%
Break-even: 15.7 days

Slippage unknown: Nado: live order book, 27 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 Nado live order book, 27 min ago	1.89 bp	10.3 bp −$10	23.3 bp −$233	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	3.23 bp	doesn't fit	10.4 bp −$104	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	−0.1423%	1h	10.760	+2.024%	$17K	$152K	12x	as long as short
Kraken Futures PF_AVAXUSD	−0.0283%	1h	10.547	+0.002%	$4.2M	$11.5M	50x	as long as short
Nado AVAX-PERPlong	−0.0054%	1h	10.546	long leg	$286K	$340K	10x
Variational Omni AVAXshort	−0.0027%	8h	10.535	−0.112%	$2.7M	$2.2M	—
dYdX AVAX-USD	0.0000%	1h	10.552	+0.048%	$88K	$117K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.543	−0.033%	$4.7M	$7.5M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.546	−0.005%	$12K	—	150x	as long as short
Gate AVAX_USDT	+0.0019%	8h	10.539	−0.071%	$12.2M	$32.8M	75x	as long as short
Backpack AVAX_USDC_PERP	+0.0020%	1h	10.545	−0.014%	$367K	$563K	15x	as long as short
Bybit AVAXUSDT	+0.0070%	8h	10.547	+0.005%	$77.9M	$145.1M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AVAX	+0.0096%	1h	10.543	−0.033%	$1.1M	$2.6M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.557	+0.100%	$18K	$437K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0096%	1h	10.551	+0.043%	$131K	$354K	10x	as long as short
Paradex AVAX-USD-PERP	+0.0096%	8h	10.545	−0.015%	$12K	$212	20x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.557	+0.100%	$37.8M	$44.0M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.547	+0.005%	$2.1M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.550	+0.033%	$265K	$130K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.554	+0.071%	$112.4M	$430.9M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.555	+0.081%	$18.5M	$111.7M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.562	+0.147%	$43.7M	$80.4M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.556	+0.090%	$13.1M	$22.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.559	+0.119%	$32.1M	$49.4M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.549	+0.024%	—	$6.5M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.527	−0.185%	$337K	$978K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.532	−0.137%	$170K	$662K	50x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.550	+0.033%	$172K	$304K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.582	+0.332%	$11K	$758K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.542	−0.043%	$17K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.548	+0.016%	$342K	$804K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.545	−0.014%	$28.1M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.556	+0.086%	$634K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.543	−0.031%	$242K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0216%	1h	10.544	−0.024%	$836K	$4.8M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.545	−0.014%	$4.6M	$5.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.546	−0.006%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0271%	1h	10.543	−0.032%	$231K	—	120x	as long as short