Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.023%

Price spread now: Lighter against Orderly−0.005%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 Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.103%−$10 on $10k

Price spread, last 4 days (all we have)+0.007%+$1 · spread now −0.005%, 7d avg −0.065%

Together, before fees−0.096%+ Points / potential airdropLighter: Season 3 · farm board−$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.060% dearer against Orderly than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.065%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_AVAX_USDC	10.632	0.0100	pay 0.0100% / 8h	2h 36m	$168K	$339K	20x
Short	Lighter AVAX	10.632	0.0096	get 0.0012% / 1h	36m 55s	$1.2M	$2.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Orderly. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 LighterbpOrdersPrice spread, now −0.005%Rate

Funding earned: −$0.84
Price spread: −0.005% → −0.065%: $5.99
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: −$0.85
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Lighter: live order book, 5 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 Lighter live order book, 5 min ago	4.29 bp	5.3 bp −$5	15.3 bp −$153	86.2 bp −$8,624	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	10.760	+1.204%	$17K	$152K	12x	as long as short
Kraken Futures PF_AVAXUSD	−0.0281%	1h	10.635	+0.024%	$4.2M	$11.5M	50x	as long as short
Nado AVAX-PERP	−0.0011%	1h	10.626	−0.052%	$290K	$338K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.629	−0.028%	$88K	$106K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.631	−0.009%	$4.8M	$7.5M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.629	−0.028%	$12K	—	150x	as long as short
Variational Omni AVAX	+0.0016%	8h	10.570	−0.584%	$2.8M	$2.2M	—	as long as short
Gate AVAX_USDT	+0.0023%	8h	10.636	+0.038%	$12.1M	$32.4M	75x	as long as short
Polymarket Perps AVAX-USD	+0.0067%	1h	10.629	−0.028%	$132K	$355K	10x	as long as short
Lighter AVAXshort	+0.0096%	1h	10.632	−0.005%	$1.2M	$2.6M	10x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex AVAXUSDT	+0.0096%	1h	10.629	−0.028%	$17K	$448K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0096%	8h	10.629	−0.032%	$12K	$212	20x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.649	+0.160%	$38.0M	$43.5M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.634	+0.017%	$2.1M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.629	−0.027%	$267K	$130K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.641	+0.081%	$112.7M	$430.8M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.633	+0.009%	$78.9M	$144.2M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.641	+0.085%	$18.6M	$112.2M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.638	+0.056%	$42.3M	$79.4M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.635	+0.028%	$13.4M	$22.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.641	+0.085%	$32.0M	$49.4M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.637	+0.047%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.633	+0.009%	$371K	$536K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.565	−0.631%	$334K	$957K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.568	−0.602%	$171K	$663K	50x	as long as short
Orderly PERP_AVAX_USDClong	+0.0100%	8h	10.632	long leg	$168K	$339K	20x
SunX AVAX-USDT	+0.0100%	8h	10.658	+0.248%	$11K	$753K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.632	0.000%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.644	+0.115%	$344K	$794K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.634	+0.019%	$28.4M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.631	−0.012%	$641K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.626	−0.061%	$244K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0216%	1h	10.629	−0.028%	$843K	$4.8M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.637	+0.047%	$4.7M	$5.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	10.623	−0.080%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0263%	1h	10.629	−0.031%	$235K	—	120x	as long as short