Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0132%/8h= +14.5% APRpaid last 24h +0.049%

Price spread now: Coinbase International against Orderly+0.045%7-day average +0.018% · you sell dearer than you buy

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

Long on Orderly Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.208%+$21 on $10k

Price spread, last 4 days (all we have)−0.094%−$9 · spread now +0.045%, 7d avg +0.018%

Together, before fees+0.115%+$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Coinbase International is 0.027% dearer against Orderly than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_AVAX_USDC	11.084	0.0100	pay 0.0100% / 8h	4h 50m	$195K	$310K	20x
Short	Coinbase International AVAX-PERP-INTX	11.089	0.0232	get 0.0029% / 1h	50m 17s	$888K	$5.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Orderly. 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 OrderlybpFee Coinbase InternationalbpOrdersPrice spread, now +0.045%Rate

Funding earned: $27.72
Price spread: +0.045% → +0.018%: $2.7
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $14.42
Costs to cover: 0.160%
Break-even: 3.4 days

Slippage unknown: Orderly: no order-book sample; Coinbase International: live order book, 4 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 Orderly no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 4 min ago	4.04 bp	12.7 bp −$13	16.4 bp −$164	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	11.090	+0.054%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0201%	1h	11.075	−0.081%	$5.2M	$7.9M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.077	−0.067%	$97K	$97K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.082	−0.017%	$13K	—	150x	as long as short
Nado AVAX-PERP	+0.0009%	1h	11.080	−0.036%	$285K	$394K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0058%	1h	11.137	+0.478%	$179K	$673K	50x	as long as short
Lighter AVAX	+0.0096%	1h	11.079	−0.049%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.076	−0.072%	$16K	$582K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.082	−0.014%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.079	−0.041%	$2.3M	$1.1M	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	11.083	−0.011%	$289K	$114K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.077	−0.067%	$117.8M	$427.9M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.075	−0.081%	$88.1M	$137.5M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.074	−0.090%	$20.2M	$115.6M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.082	−0.018%	$12.1M	$34.0M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.074	−0.090%	$48.1M	$77.5M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.086	+0.018%	$15.8M	$21.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.081	−0.027%	$33.3M	$48.1M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.083	−0.009%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.091	+0.063%	$335K	$524K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.091	+0.059%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.137	+0.478%	$355K	$835K	10x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.085	+0.009%	$130K	$349K	10x	as long as short
Orderly PERP_AVAX_USDClong	+0.0100%	8h	11.084	long leg	$195K	$310K	20x
SunX AVAX-USDT	+0.0100%	8h	11.113	+0.263%	$12K	$703K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.077	−0.063%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.075	−0.077%	$364K	$829K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.080	−0.036%	$29.6M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.074	−0.094%	$680K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.079	−0.046%	$254K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0212%	1h	11.081	−0.028%	$4.3M	$11.3M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.093	+0.081%	$5.1M	$5.4M	100x	as long as short
Coinbase International AVAX-PERP-INTXshort	+0.0232%	1h	11.089	+0.045%	$888K	$5.3M	50x
Reya AVAXRUSDPERP	+0.0244%	1h	11.081	−0.029%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.083	−0.012%	$235K	—	120x	as long as short
Hyperliquid AVAX	+0.0695%	1h	11.100	+0.144%	$43.3M	$42.2M	10x	as long as short