Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0166%/8h= −18.2% APRpaid last 24h −0.171%

Price spread now: Deribit against OKX−0.292%46s7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$270.272% of the position

Long on OKX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.547%−$55 on $10k

Price spread, last 3 days (all we have)+0.026%+$3 · spread now −0.292%, 7d avg +0.012%

Together, before fees−0.521%−$52 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Deribit is 0.304% cheaper against OKX than usual: you would sell low and buy high (−$30 if the spread goes back to its 7-day average of +0.012%). Swap the legs. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX AVAX-USDT-SWAP	11.300	0.0061	pay 0.0061% / 8h	2h 27m	$20.1M	$148.7M	50x
Short	Deribit AVAX_USDC-PERPETUAL	11.267	−0.0105	pay 0.0013% / 1h	27m 37s	$5.3M	$9.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against OKX. 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 OKXbpFee DeribitbpOrdersPrice spread, now −0.292%Rate

Funding earned: −$34.85
Price spread: −0.292% → +0.012%: −$30.35
Slippage, 4 orders: −$10.18
Fee OKX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$92.39
Costs to cover: 0.272%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; Deribit: live order book, 1 min ago.

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 OKX live order book, 1 min ago	0.44 bp	7.3 bp −$7	16.2 bp −$162	52.0 bp −$5,198	doesn't fit
Sell Deribit live order book, 1 min ago	0.89 bp	7.1 bp −$7	19.9 bp −$199	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 AVAX	−0.0142%	8h	11.251	−0.434%	$2.9M	$2.1M	—	as long as short
Deribit AVAX_USDC-PERPETUALshort	−0.0105%	1h	11.267	−0.292%	$5.3M	$9.4M	25x
Nado AVAX-PERP	−0.0096%	1h	11.293	−0.058%	$298K	$960K	10x	as long as short
Injective AVAX/USDC PERP	−0.0043%	1h	11.100	−1.770%	$17K	$127K	12x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.280	−0.175%	$99K	$115K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.269	−0.274%	$13K	—	150x	as long as short
Extended AVAX-USD	+0.0024%	1h	11.284	−0.140%	$672K	$2.3M	25x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0056%	1h	11.282	−0.159%	$914K	$8.2M	50x	as long as short
Gate AVAX_USDT	+0.0061%	8h	11.278	−0.195%	$12.6M	$40.0M	75x	as long as short
OKX AVAX-USDT-SWAPlong	+0.0061%	8h	11.300	long leg	$20.1M	$148.7M	50x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex AVAXUSDT	+0.0068%	8h	11.267	−0.292%	$30.2M	$4.8M	50x	as long as short
MEXC AVAX_USDT	+0.0082%	8h	11.278	−0.195%	$55.4M	$109.6M	200x	as long as short
Binance AVAXUSDT	+0.0083%	8h	11.294	−0.050%	$121.1M	$537.1M	75x	as long as short
Bybit AVAXUSDT	+0.0091%	8h	11.298	−0.018%	$88.3M	$154.0M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.279	−0.186%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.292	−0.071%	$9K	$700K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0096%	8h	11.278	−0.194%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.281	−0.166%	$2.3M	$1.9M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.283	−0.146%	$300K	$122K	10x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.283	−0.150%	$16.1M	$24.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.296	−0.035%	$34.8M	$61.2M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.291	−0.080%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.272	−0.248%	$334K	$563K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.246	−0.475%	$356K	$910K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.249	−0.451%	$181K	$684K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.299	−0.009%	$131K	$483K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.275	−0.221%	$203K	$302K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.297	−0.030%	$12K	$716K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.265	−0.310%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.262	−0.340%	$362K	$1.1M	75x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.262	−0.337%	$259K	—	3x	as long as short
BloFin AVAX-USDT	+0.0200%	8h	11.263	−0.327%	$5.0M	$8.5M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.295	−0.043%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.276	−0.215%	$4.7M	$13.5M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0405% / S −0.0245%	1h	11.271	−0.259%	$243K	—	120x	as long as short
Hyperliquid AVAX	+0.0565%	1h	11.298	−0.018%	$43.7M	$58.5M	10x	as long as short