Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0144%/8h= −15.8% APRpaid last 24h −0.114%

Price spread now: Variational Omni against Reya+0.125%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Variational Omni

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 · Variational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.125% dearer against Reya than usual: you sell high and buy low (spread +0.125% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya AVAXRUSDPERP	11.108	0.0244	pay 0.0031% / 1h	25m 18s	$1K	—	20x
Short	Variational Omni AVAX	11.122	0.0100	get 0.0100% / 8h	6h 25m	$2.9M	$2.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Reya. 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 ReyabpFee Variational OmnibpOrdersPrice spread, now +0.125%Rate

Funding earned: −$30.25
Price spread: +0.125% → 0.000%: $12.5
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$23.75
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; Variational Omni: RFQ quote, 4 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 Reya no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 4 min ago	3.20 bp	doesn't fit	12.8 bp −$128	doesn't fit	doesn't fit

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 35 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	11.080	−0.250%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0043%	1h	11.101	−0.066%	$286K	$508K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0020%	1h	11.114	+0.056%	$5.2M	$8.3M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.100	−0.069%	$102K	$96K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.115	+0.067%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0045%	8h	11.110	+0.020%	$12.1M	$36.6M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.115	+0.064%	$1.2M	$3.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.108	+0.002%	$15K	$594K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.111	+0.025%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.110	+0.020%	$2.3M	$1.4M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AVAX	+0.0100%	1h	11.106	−0.013%	$295K	$107K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.115	+0.065%	$118.5M	$459.9M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.114	+0.056%	$88.6M	$143.6M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.114	+0.056%	$19.9M	$123.8M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.110	+0.020%	$48.8M	$82.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.115	+0.065%	$15.5M	$22.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.112	+0.038%	$33.4M	$51.1M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.113	+0.047%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.128	+0.182%	$356K	$535K	15x	as long as short
Variational Omni AVAXshort	+0.0100%	8h	11.122	+0.125%	$2.9M	$2.2M	—
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.120	+0.114%	$355K	$810K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.110	+0.020%	$179K	$677K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.112	+0.038%	$130K	$363K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.120	+0.110%	$195K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.137	+0.268%	$12K	$717K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.115	+0.065%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.084	−0.213%	$360K	$938K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.118	+0.092%	$29.7M	$5.6M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.111	+0.029%	$671K	$1.7M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.111	+0.029%	$255K	—	3x	as long as short
Reya AVAXRUSDPERPlong	+0.0244%	1h	11.108	long leg	$1K	—	20x
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.120	+0.110%	$4.3M	$11.9M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0288%	1h	11.112	+0.038%	$903K	$5.9M	50x	as long as short
Hyperliquid AVAX	+0.0401%	1h	11.123	+0.140%	$43.2M	$47.1M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.113	+0.051%	$236K	—	120x	as long as short