Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.1463%/8h= −160.2% APRpaid last 24h −0.151%

Price spread now: Injective against OKX−0.678%78s7-day average −0.164% · you buy dearer than you sell

Net, funding: paid 7d − costs−$136as 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−$1061.060% of the position

Long on OKX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.304%−$30 on $10k

Price spread, last 3 days (all we have)+1.689%+$169 · spread now −0.678%, 7d avg −0.164%

Together, before fees+1.385%+$139 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$44 a day on $10k at the current rate, and Injective is 0.514% cheaper against OKX than usual: you would sell low and buy high (−$51 if the spread goes back to its 7-day average of −0.164%). Swap the legs. The two prices were read 78 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.304% in total (about -15.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX AVAX-USDT-SWAP	11.216	0.0100	pay 0.0100% / 8h	7h 12m	$20.0M	$130.9M	50x
Short	Injective AVAX/USDC PERP	11.140	−0.1363	pay 0.0170% / 1h	12m 01s	$17K	$151K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.678%Rate

Funding earned: −$307.2
Price spread: −0.678% → −0.164%: −$51.36
Slippage, 4 orders: −$95.99
Fee OKX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$464.57
Costs to cover: 1.060%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Injective: live order book, 62 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, 2 min ago	0.45 bp	7.9 bp −$8	18.7 bp −$187	doesn't fit	doesn't fit
Sell Injective live order book, 62 min ago	35.68 bp	35.7 bp −$36	doesn't fit	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 PERPshort	−0.1363%	1h	11.140	−0.678%	$17K	$151K	12x
Nado AVAX-PERP	−0.0060%	1h	11.218	+0.022%	$294K	$728K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.207	−0.083%	$103K	$105K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	11.216	0.000%	$5.3M	$8.5M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.216	+0.004%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.218	+0.017%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.211	−0.045%	$15K	$610K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.215	−0.006%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.219	+0.026%	$2.3M	$1.5M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.213	−0.026%	$298K	$100K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AVAXUSDT	+0.0100%	8h	11.214	−0.022%	$119.7M	$476.0M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.215	−0.009%	$89.1M	$147.4M	75x	as long as short
OKX AVAX-USDT-SWAPlong	+0.0100%	8h	11.216	long leg	$20.0M	$130.9M	50x
Gate AVAX_USDT	+0.0100%	8h	11.215	−0.009%	$12.2M	$38.3M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.215	−0.009%	$49.0M	$88.9M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.221	+0.045%	$15.4M	$23.0M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.214	−0.018%	$34.0M	$53.3M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.214	−0.018%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.215	−0.009%	$359K	$547K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.178	−0.341%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.187	−0.257%	$353K	$847K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.190	−0.232%	$180K	$688K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.216	0.000%	$132K	$372K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.223	+0.062%	$197K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.239	+0.204%	$12K	$718K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.218	+0.018%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.234	+0.162%	$365K	$943K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.218	+0.018%	$30.1M	$5.1M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.214	−0.018%	$671K	$2.0M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.213	−0.031%	$258K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0214%	1h	11.221	+0.046%	$4.3M	$12.5M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.196	−0.178%	$5.0M	$6.2M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.212	−0.037%	$1K	—	20x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0304%	1h	11.209	−0.062%	$912K	$6.5M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0298%	1h	11.218	+0.014%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0677%	1h	11.229	+0.116%	$43.9M	$49.6M	10x	as long as short