Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.049%

Price spread now: Backpack against Variational Omni+0.121%7-day average +0.039% · you sell dearer than you buy

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

Long on Variational Omni Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.083%+$8 on $10k

Price spread, last 4 days (all we have)−0.708%−$71 · spread now +0.121%, 7d avg +0.039%

Together, before fees−0.625%+ Points / potential airdropVariational Omni: Active · farm board−$62 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: Backpack is 0.081% dearer against Variational Omni than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni AVAX	11.126	0.0100	pay 0.0100% / 8h	5h 45m	$2.9M	$2.3M	—
Short	Backpack AVAX_USDC_PERP	11.139	0.0100	get 0.0013% / 1h	45m 10s	$356K	$498K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Variational Omni. 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 Variational OmnibpFee BackpackbpOrdersPrice spread, now +0.121%Rate

Funding earned: $0
Price spread: +0.121% → +0.039%: $8.14
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$1.86
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Backpack: live order book, 19 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 Variational Omni RFQ quote, 4 min ago	3.19 bp	doesn't fit	11.1 bp −$111	doesn't fit	doesn't fit
Sell Backpack live order book, 19 min ago	0.45 bp	9.2 bp −$9	39.9 bp −$399	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	−0.1374%	1h	11.080	−0.409%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0065%	1h	11.133	+0.071%	$286K	$450K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0019%	1h	11.132	+0.058%	$5.2M	$7.9M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.128	+0.026%	$102K	$87K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.127	+0.015%	$13K	—	150x	as long as short
Kraken Futures PF_AVAXUSD	+0.0045%	1h	11.135	+0.087%	$4.3M	$11.6M	50x	as long as short
Lighter AVAX	+0.0096%	1h	11.133	+0.067%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.142	+0.148%	$16K	$565K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.139	+0.121%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.135	+0.083%	$2.3M	$1.2M	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	11.130	+0.044%	$290K	$112K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.135	+0.085%	$118.9M	$437.1M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.136	+0.094%	$88.4M	$138.3M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.135	+0.085%	$20.1M	$118.4M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.134	+0.076%	$12.2M	$34.8M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.135	+0.085%	$48.0M	$79.0M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.135	+0.085%	$15.6M	$21.9M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.133	+0.067%	$33.4M	$48.9M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.135	+0.085%	—	$82.2M	—	as long as short
Backpack AVAX_USDC_PERPshort	+0.0100%	1h	11.139	+0.121%	$356K	$498K	15x
Variational Omni AVAXlong	+0.0100%	8h	11.126	long leg	$2.9M	$2.3M	—
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.117	−0.077%	$351K	$799K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.124	−0.014%	$179K	$679K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.138	+0.112%	$130K	$349K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.138	+0.112%	$196K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.163	+0.340%	$12K	$702K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.133	+0.067%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.133	+0.062%	$361K	$852K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.132	+0.058%	$29.7M	$5.6M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.130	+0.037%	$675K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.133	+0.071%	$256K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.132	+0.058%	—	$5.5M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.137	+0.103%	$901K	$5.5M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.134	+0.077%	$1K	—	20x	as long as short
Hyperliquid AVAX	+0.0422%	1h	11.150	+0.220%	$43.4M	$43.6M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.127	+0.013%	$236K	—	120x	as long as short