Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.012%

Price spread now: dYdX against OKX−0.024%7-day average +0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$325as in the Funding arb table

Net, price: spread back to 7d avg − costs−$319as in the Price arb table

costs, in and out, $10k−$3143.137% of the position

Long on OKX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.114%−$11 on $10k

Price spread, last 4 days (all we have)+0.028%+$3 · spread now −0.024%, 7d avg +0.029%

Together, before fees−0.086%−$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.053% cheaper against OKX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.029%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX AVAX-USDT-SWAP	11.269	0.0100	pay 0.0100% / 8h	1h 29m	$20.3M	$146.7M	50x
Short	dYdX AVAX-USD	11.266	0	get 0.0000% / 1h	29m 38s	$99K	$107K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.024%Rate

Funding earned: −$21
Price spread: −0.024% → +0.029%: −$5.32
Slippage, 4 orders: −$293.73
Fee OKX: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$340.06
Costs to cover: 3.137%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; dYdX: live order book, 54 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, 4 min ago	0.44 bp	7.1 bp −$7	16.5 bp −$165	72.3 bp −$7,228	doesn't fit
Sell dYdX live order book, 54 min ago	142.74 bp	147.7 bp −$148	153.7 bp −$1,537	191.3 bp −$19.1K	231.6 bp −$115.8K

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	−0.0570%	1h	11.210	−0.524%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0105%	1h	11.250	−0.169%	$5.3M	$9.2M	25x	as long as short
Nado AVAX-PERP	−0.0017%	1h	11.241	−0.248%	$297K	$895K	10x	as long as short
Variational Omni AVAX	−0.0016%	8h	11.259	−0.088%	$3.0M	$2.4M	—	as long as short
dYdX AVAX-USDshort	0.0000%	1h	11.266	−0.024%	$99K	$107K	10x
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0004%	1h	11.252	−0.149%	$16K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.266	−0.030%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.247	−0.195%	$16K	$691K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0099%	8h	11.262	−0.064%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.260	−0.080%	$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	11.267	−0.016%	$299K	$120K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.265	−0.033%	$120.4M	$526.9M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.266	−0.027%	$89.0M	$157.6M	75x	as long as short
OKX AVAX-USDT-SWAPlong	+0.0100%	8h	11.269	long leg	$20.3M	$146.7M	50x
Gate AVAX_USDT	+0.0100%	8h	11.266	−0.027%	$12.6M	$40.2M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.267	−0.018%	$52.2M	$100.0M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.268	−0.009%	$16.3M	$24.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.266	−0.027%	$34.2M	$60.3M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.267	−0.018%	—	$89.3M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.252	−0.151%	$360K	$570K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.261	−0.070%	$360K	$898K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.282	+0.115%	$181K	$685K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.252	−0.151%	$134K	$459K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.255	−0.124%	$202K	$301K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.271	+0.021%	$12K	$730K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.250	−0.169%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.252	−0.155%	$363K	$1.1M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.249	−0.177%	$30.3M	$5.0M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.265	−0.032%	$673K	$2.2M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.254	−0.132%	$259K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0192%	1h	11.257	−0.106%	$909K	$8.3M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.243	−0.231%	$5.0M	$8.0M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.248	−0.185%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0403% / S −0.0247%	1h	11.252	−0.147%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0616%	1h	11.277	+0.071%	$43.7M	$57.2M	10x	as long as short
Kraken Futures PF_AVAXUSD	+0.0628%	1h	11.258	−0.099%	$4.6M	$13.5M	50x	as long as short