Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.063%

Price spread now: Variational Omni against Phemex+0.095%7-day average −0.082% · you sell dearer than you buy

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

Long on Phemex Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.122%−$12 on $10k

Price spread, last 4 days (all we have)+0.041%+$4 · spread now +0.095%, 7d avg −0.082%

Together, before fees−0.081%+ Points / potential airdropVariational Omni: Active · farm board−$8 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: Variational Omni is 0.177% dearer against Phemex than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of −0.082%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex AVAXUSDT	11.080	0.0100	pay 0.0100% / 8h	4h 49m	$29.6M	$5.8M	50x
Short	Variational Omni AVAX	11.091	0.0100	get 0.0100% / 8h	4h 49m	$2.9M	$2.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Phemex. 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 PhemexbpFee Variational OmnibpOrdersPrice spread, now +0.095%Rate

Funding earned: $0
Price spread: +0.095% → −0.082%: $17.69
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $5.69
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Phemex: live order book, 5 min ago; Variational Omni: RFQ quote, 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 Phemex live order book, 5 min ago	1.35 bp	14.2 bp −$14	21.8 bp −$218	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	3.19 bp	doesn't fit	15.4 bp −$154	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 PERP	−0.1423%	1h	11.090	+0.090%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0201%	1h	11.075	−0.045%	$5.2M	$7.9M	25x	as long as short
Nado AVAX-PERP	−0.0005%	1h	11.089	+0.086%	$285K	$394K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.091	+0.100%	$97K	$97K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.082	+0.019%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.094	+0.126%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.081	+0.009%	$16K	$582K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.095	+0.137%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.090	+0.094%	$2.3M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.099	+0.174%	$289K	$114K	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	11.101	+0.186%	$118.0M	$427.4M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.095	+0.135%	$88.3M	$137.6M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.098	+0.162%	$20.3M	$115.8M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.093	+0.117%	$12.1M	$34.0M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.092	+0.108%	$48.1M	$77.5M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.094	+0.126%	$15.8M	$21.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.098	+0.162%	$33.3M	$48.1M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.096	+0.144%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.075	−0.045%	$335K	$524K	15x	as long as short
Variational Omni AVAXshort	+0.0100%	8h	11.091	+0.095%	$2.9M	$2.2M	—
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.137	+0.514%	$355K	$835K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.108	+0.253%	$179K	$673K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.102	+0.199%	$130K	$349K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.084	+0.036%	$195K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.113	+0.300%	$12K	$703K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.077	−0.027%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.075	−0.041%	$364K	$829K	75x	as long as short
Phemex AVAXUSDTlong	+0.0100%	8h	11.080	long leg	$29.6M	$5.8M	50x
Extended AVAX-USD	+0.0104%	1h	11.094	+0.122%	$680K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.079	−0.010%	$254K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0212%	1h	11.081	+0.008%	$4.3M	$11.3M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.093	+0.117%	$5.1M	$5.4M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.089	+0.081%	$888K	$5.3M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.093	+0.115%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.083	+0.024%	$235K	—	120x	as long as short
Hyperliquid AVAX	+0.0688%	1h	11.104	+0.217%	$43.3M	$42.3M	10x	as long as short