Funding arb · Price arb /

AVAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0116%/8h= −12.7% APRpaid last 24h −0.093%

Price spread now: Deribit against Variational Omni+0.251%7-day average +0.028% · you sell dearer than you buy

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

Long on Variational Omni Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.347%−$35 on $10k

Price spread, last 3 days (all we have)−0.286%−$29 · spread now +0.251%, 7d avg +0.028%

Together, before fees−0.633%+ Points / potential airdropVariational Omni: Active · farm board−$63 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.223% dearer against Variational Omni than usual: you sell high and buy low (spread +0.251% now, against its 7-day average of +0.028%): +$22 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 6.4 days. At the pace of the last 3 days (−0.347% in total) that is about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni AVAX	11.203	0.0099	pay 0.0099% / 8h	7m 14s	$3.0M	$2.4M	—
Short	Deribit AVAX_USDC-PERPETUAL	11.231	−0.0017	pay 0.0002% / 1h	7m 14s	$5.3M	$8.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.251%Rate

Funding earned: −$24.44
Price spread: +0.251% → +0.028%: $22.26
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$9.18
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Deribit: live order book, 2 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, 2 min ago	3.21 bp	doesn't fit	12.5 bp −$125	doesn't fit	doesn't fit
Sell Deribit live order book, 2 min ago	1.34 bp	6.2 bp −$6	27.5 bp −$275	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	−0.1451%	1h	11.180	−0.204%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0097%	1h	11.235	+0.282%	$296K	$877K	10x	as long as short
Deribit AVAX_USDC-PERPETUALshort	−0.0017%	1h	11.231	+0.251%	$5.3M	$8.9M	25x
dYdX AVAX-USD	0.0000%	1h	11.247	+0.391%	$103K	$106K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.232	+0.259%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.233	+0.271%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.229	+0.233%	$18K	$663K	50x	as long as short
Variational Omni AVAXlong	+0.0099%	8h	11.203	long leg	$3.0M	$2.4M	—
Paradex AVAX-USD-PERP	+0.0100%	8h	11.243	+0.362%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.233	+0.272%	$2.3M	$1.7M	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	11.249	+0.415%	$299K	$118K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.235	+0.287%	$120.4M	$510.8M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.236	+0.296%	$89.6M	$154.8M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.235	+0.287%	$20.3M	$143.3M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.232	+0.260%	$12.5M	$40.4M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.234	+0.278%	$50.1M	$93.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.235	+0.287%	$15.6M	$24.1M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.232	+0.260%	$34.2M	$57.7M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.229	+0.233%	—	$86.6M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.237	+0.305%	$359K	$563K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.224	+0.191%	$351K	$862K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.227	+0.215%	$180K	$687K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.232	+0.260%	$132K	$440K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.240	+0.331%	$204K	$303K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.260	+0.509%	$12K	$735K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.235	+0.287%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.229	+0.229%	$363K	$1.0M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.231	+0.251%	$30.2M	$4.9M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.232	+0.258%	$669K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.229	+0.230%	$258K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.227	+0.215%	$5.0M	$7.1M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.228	+0.228%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0270%	1h	11.240	+0.328%	$4.6M	$13.0M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0280%	1h	11.259	+0.501%	$917K	$7.7M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0432% / S −0.0254%	1h	11.231	+0.248%	$250K	—	120x	as long as short
Hyperliquid AVAX	+0.0773%	1h	11.247	+0.391%	$43.8M	$55.0M	10x	as long as short