Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0144%/8h= +15.8% APRpaid last 24h +0.090%

Price spread now: Reya against Orderly−0.080%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.080% cheaper against Orderly than usual: you would sell low and buy high (spread −0.080% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 45 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_AVAX_USDC	11.224	0.0100	pay 0.0100% / 8h	7h 56m	$204K	$303K	20x
Short	Reya AVAXRUSDPERP	11.215	0.0244	get 0.0030% / 1h	56m 57s	$1K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.080%Rate

Funding earned: $30.21
Price spread: −0.080% → 0.000%: −$8.03
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Reya: 3 bp × 2 orders: −$6
Net: $10.18
Costs to cover: 0.120%
Break-even: 4.6 days

Slippage unknown: Orderly: no order-book sample; Reya: no order-book sample. 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 Reya no order-book sample	—	—	—	—	—

Orderly and Reya: 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	−0.1363%	1h	11.180	−0.392%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0107%	1h	11.215	−0.080%	$5.3M	$8.9M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.222	−0.018%	$103K	$105K	10x	as long as short
Nado AVAX-PERP	+0.0001%	1h	11.216	−0.071%	$296K	$879K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.221	−0.027%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0021%	8h	11.214	−0.089%	$12.5M	$37.4M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.215	−0.083%	$1.2M	$3.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.217	−0.062%	$18K	$663K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.218	−0.051%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.216	−0.070%	$2.3M	$1.7M	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	11.220	−0.037%	$298K	$118K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.209	−0.134%	$120.1M	$509.7M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.210	−0.125%	$89.4M	$154.4M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.208	−0.143%	$20.3M	$142.5M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.213	−0.098%	$49.8M	$87.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.221	−0.027%	$15.6M	$24.0M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.211	−0.116%	$34.2M	$57.5M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.211	−0.116%	—	$86.6M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.212	−0.107%	$358K	$562K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.228	+0.035%	$3.0M	$2.4M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.230	+0.051%	$362K	$873K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.234	+0.089%	$180K	$688K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.219	−0.045%	$132K	$440K	10x	as long as short
Orderly PERP_AVAX_USDClong	+0.0100%	8h	11.224	long leg	$204K	$303K	20x
SunX AVAX-USDT	+0.0100%	8h	11.250	+0.231%	$12K	$735K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.212	−0.107%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.220	−0.040%	$362K	$1.0M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.214	−0.089%	$30.2M	$4.9M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.207	−0.148%	$669K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.220	−0.040%	$258K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0214%	1h	11.218	−0.054%	$4.6M	$12.9M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.211	−0.116%	$5.0M	$6.9M	100x	as long as short
Reya AVAXRUSDPERPshort	+0.0244%	1h	11.215	−0.080%	$1K	—	20x
Coinbase International AVAX-PERP-INTX	+0.0304%	1h	11.227	+0.027%	$916K	$7.6M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0435% / S −0.0258%	1h	11.221	−0.030%	$250K	—	120x	as long as short
Hyperliquid AVAX	+0.0664%	1h	11.228	+0.036%	$43.8M	$55.0M	10x	as long as short