Funding arb · Price arb /

AVAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0003%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Orderly against SoDEX+0.112%7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on Orderly

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—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Orderly is 0.112% dearer against SoDEX than usual: you sell high and buy low, +$11 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX AVAX-USD	10.696	0.0097	pay 0.0012% / 1h	31m 10s	$18K	$72K	10x
Short	Orderly PERP_AVAX_USDC	10.708	0.0100	get 0.0100% / 8h	1h 31m	$230K	$346K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against SoDEX. 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 SoDEXbpFee OrderlybpOrdersPrice spread, now +0.112%Rate

Funding earned: $0.73
Price spread: +0.112% → 0.000%: $11.22
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$2.05
Costs to cover: 0.140%
Break-even: 26.7 days

Slippage unknown: SoDEX: no order-book sample; Orderly: 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 SoDEX no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

SoDEX and 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
Nado AVAX-PERP	−0.0179%	1h	10.701	+0.047%	$285K	$339K	10x	as long as short
Variational Omni AVAX	−0.0045%	8h	10.676	−0.190%	$2.8M	$2.1M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.695	−0.013%	$89K	$117K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.699	+0.028%	$4.8M	$7.1M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.704	+0.079%	$12K	—	150x	as long as short
Gate AVAX_USDT	+0.0029%	8h	10.701	+0.047%	$12.7M	$32.2M	75x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	+0.598%	$17K	$152K	12x	as long as short
Paradex AVAX-USD-PERP	+0.0087%	8h	10.695	−0.009%	$12K	$212	20x	as long as short
Bybit AVAXUSDT	+0.0092%	8h	10.697	+0.009%	$81.1M	$146.3M	75x	as long as short
Lighter AVAX	+0.0096%	1h	10.701	+0.043%	$1.2M	$2.5M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex AVAXUSDT	+0.0096%	1h	10.703	+0.065%	$21K	$424K	50x	as long as short
SoDEX AVAX-USDlong	+0.0097%	1h	10.696	long leg	$18K	$72K	10x
Hyperliquid AVAX	+0.0100%	1h	10.712	+0.150%	$37.4M	$44.0M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.702	+0.056%	$2.2M	$1.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.700	+0.041%	$269K	$129K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.705	+0.087%	$113.7M	$424.6M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.699	+0.028%	$18.7M	$112.3M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.702	+0.056%	$45.6M	$80.8M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.703	+0.065%	$13.6M	$23.0M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.700	+0.037%	$32.4M	$48.7M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.702	+0.056%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.706	+0.093%	$436K	$564K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.704	+0.079%	$340K	$1.1M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.712	+0.150%	$173K	$662K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.704	+0.075%	$136K	$352K	10x	as long as short
Orderly PERP_AVAX_USDCshort	+0.0100%	8h	10.708	+0.112%	$230K	$346K	20x
SunX AVAX-USDT	+0.0100%	8h	10.729	+0.306%	$12K	$764K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.686	−0.093%	$336K	$872K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.703	+0.065%	$28.6M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.691	−0.043%	$609K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.697	+0.014%	$246K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0113%	1h	10.704	+0.072%	$4.2M	$11.3M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0200%	1h	10.710	+0.131%	$854K	$5.1M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.706	+0.093%	$4.6M	$5.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.697	+0.013%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0295%	1h	10.705	+0.082%	$226K	—	120x	as long as short