Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0206%/8h= −22.6% APRpaid last 24h −0.135%

Price spread now: Deribit against Orderly−0.098%7-day average −0.065% · you buy dearer than you sell

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

Long on Orderly Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.575%−$58 on $10k

Price spread, last 3 days (all we have)+0.005%$0 · spread now −0.098%, 7d avg −0.065%

Together, before fees−0.570%−$57 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Deribit is 0.033% cheaper against Orderly than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.065%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_AVAX_USDC	11.231	0.0100	pay 0.0100% / 8h	1h 10m	$202K	$301K	20x
Short	Deribit AVAX_USDC-PERPETUAL	11.220	−0.0106	pay 0.0013% / 1h	10m 53s	$5.3M	$9.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.098%Rate

Funding earned: −$43.34
Price spread: −0.098% → −0.065%: −$3.34
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$59.68
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Deribit: live order book, 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 Orderly no order-book sample	—	—	—	—	—
Sell Deribit live order book, 3 min ago	1.33 bp	4.8 bp −$5	51.2 bp −$512	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	−0.0570%	1h	11.210	−0.187%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUALshort	−0.0106%	1h	11.220	−0.098%	$5.3M	$9.1M	25x
Nado AVAX-PERP	−0.0039%	1h	11.222	−0.080%	$296K	$892K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.225	−0.052%	$103K	$106K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.223	−0.073%	$13K	—	150x	as long as short
Variational Omni AVAX	+0.0009%	8h	11.260	+0.259%	$3.0M	$2.4M	—	as long as short
Lighter AVAX	+0.0096%	1h	11.224	−0.060%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.222	−0.080%	$18K	$686K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0099%	8h	11.223	−0.071%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.229	−0.018%	$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	11.226	−0.041%	$298K	$120K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.227	−0.034%	$120.3M	$524.6M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.225	−0.053%	$89.1M	$157.3M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.225	−0.053%	$20.2M	$146.0M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.228	−0.027%	$12.5M	$40.6M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.227	−0.036%	$51.4M	$100.2M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.229	−0.018%	$16.0M	$24.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.224	−0.062%	$34.1M	$59.9M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.226	−0.045%	—	$88.9M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.227	−0.036%	$359K	$568K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.253	+0.196%	$359K	$877K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.256	+0.223%	$181K	$685K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.224	−0.062%	$133K	$459K	10x	as long as short
Orderly PERP_AVAX_USDClong	+0.0100%	8h	11.231	long leg	$202K	$301K	20x
SunX AVAX-USDT	+0.0100%	8h	11.253	+0.195%	$12K	$734K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.225	−0.053%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.222	−0.077%	$363K	$1.1M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.228	−0.027%	$30.2M	$5.0M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.225	−0.052%	$669K	$2.2M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.216	−0.130%	$258K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0192%	1h	11.235	+0.036%	$910K	$8.2M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.223	−0.071%	$5.0M	$8.0M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.220	−0.102%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0410% / S −0.0257%	1h	11.222	−0.084%	$236K	—	120x	as long as short
Hyperliquid AVAX	+0.0598%	1h	11.240	+0.080%	$43.5M	$56.8M	10x	as long as short
Kraken Futures PF_AVAXUSD	+0.0630%	1h	11.229	−0.020%	$4.6M	$13.5M	50x	as long as short