Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0003%/8h= −0.3% APRpaid last 24h −0.068%

Price spread now: Variational Omni against Popdex+0.318%46s7-day average −0.036% · you sell dearer than you buy

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

Long on Popdex Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.138%−$14 on $10k

Price spread, last 4 days (all we have)−0.426%−$43 · spread now +0.318%, 7d avg −0.036%

Together, before fees−0.564%+ Points / potential airdropVariational Omni: Active · farm board−$56 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 0.354% dearer against Popdex than usual: you sell high and buy low, +$35 on $10k if it goes back to its 7-day average of −0.036%. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex AVAXUSDT	10.842	0.0096	pay 0.0012% / 1h	7m 43s	$6K	$437K	50x
Short	Variational Omni AVAX	10.876	0.0093	get 0.0093% / 8h	3h 07m	$2.9M	$2.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Popdex. 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 PopdexbpFee Variational OmnibpOrdersPrice spread, now +0.318%Rate

Funding earned: −$0.62
Price spread: +0.318% → −0.036%: $35.41
Slippage, 4 orders: no order book: not counted
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $28.38
Costs to cover: 0.064%
Break-even: from the start

Slippage unknown: Popdex: live order book, 46 min ago; Variational Omni: RFQ quote, 1 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 Popdex live order book, 46 min ago	1.36 bp	6.5 bp −$6	19.2 bp −$192	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	3.19 bp	doesn't fit	11.9 bp −$119	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	−0.1421%	1h	10.810	−0.295%	$17K	$151K	12x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.845	+0.024%	$95K	$96K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.848	+0.055%	$4.9M	$7.4M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.848	+0.059%	$12K	—	150x	as long as short
Kraken Futures PF_AVAXUSD	+0.0020%	1h	10.849	+0.068%	$4.2M	$11.0M	50x	as long as short
Nado AVAX-PERP	+0.0033%	1h	10.837	−0.046%	$281K	$308K	10x	as long as short
Gate AVAX_USDT	+0.0056%	8h	10.844	+0.018%	$12.2M	$32.7M	75x	as long as short
Variational Omni AVAXshort	+0.0093%	8h	10.876	+0.318%	$2.9M	$2.2M	—
Lighter AVAX	+0.0096%	1h	10.848	+0.054%	$1.2M	$2.7M	10x	as long as short
Popdex AVAXUSDTlong	+0.0096%	1h	10.842	long leg	$6K	$437K	50x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex AVAX-USD-PERP	+0.0097%	8h	10.842	+0.002%	$12K	$212	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.842	+0.003%	$2.2M	$1.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.842	0.000%	$273K	$130K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.848	+0.055%	$113.7M	$416.6M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.842	0.000%	$81.9M	$137.9M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.847	+0.046%	$19.6M	$109.0M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.848	+0.055%	$44.7M	$79.2M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.846	+0.037%	$14.8M	$21.7M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.842	0.000%	$32.3M	$47.7M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.845	+0.028%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.849	+0.065%	$365K	$548K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.906	+0.590%	$343K	$953K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.908	+0.609%	$175K	$665K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.842	0.000%	$127K	$343K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.852	+0.092%	$191K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.872	+0.277%	$11K	$720K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.846	+0.037%	$18K	$71K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.846	+0.034%	$356K	$768K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.848	+0.055%	$28.9M	$5.7M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.838	−0.036%	$667K	$1.3M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.845	+0.028%	$249K	—	3x	as long as short
Hyperliquid AVAX	+0.0210%	1h	10.860	+0.166%	$41.0M	$39.8M	10x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.822	−0.184%	$4.8M	$5.3M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	10.839	−0.028%	$882K	$4.7M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	10.838	−0.036%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0445% / S −0.0276%	1h	10.850	+0.070%	$236K	—	120x	as long as short