Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.062%

Price spread now: Lighter against Variational Omni+0.099%7-day average −0.007% · you sell dearer than you buy

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

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.119%+$12 on $10k

Price spread, last 7 days−0.204%−$20 · spread now +0.099%, 7d avg −0.007%

Together, before fees−0.085%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board−$8 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: Lighter is 0.106% dearer against Variational Omni than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.007%.

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 41m	$2.9M	$2.3M	—
Short	Lighter AVAX	11.137	0.0096	get 0.0012% / 1h	41m 25s	$1.2M	$2.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.099%Rate

Funding earned: −$0.84
Price spread: +0.099% → −0.007%: $10.64
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: $9.8
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Lighter: live order book, 6 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, 3 min ago	3.18 bp	doesn't fit	11.2 bp −$112	doesn't fit	doesn't fit
Sell Lighter live order book, 6 min ago	2.25 bp	2.6 bp −$3	14.1 bp −$141	82.4 bp −$8,236	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	11.090	−0.320%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0056%	1h	11.133	+0.067%	$286K	$449K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0019%	1h	11.155	+0.265%	$5.2M	$7.9M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.133	+0.067%	$102K	$87K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.135	+0.085%	$13K	—	150x	as long as short
Kraken Futures PF_AVAXUSD	+0.0045%	1h	11.159	+0.304%	$4.3M	$11.6M	50x	as long as short
Lighter AVAXshort	+0.0096%	1h	11.137	+0.099%	$1.2M	$2.9M	10x
Popdex AVAXUSDT	+0.0096%	1h	11.132	+0.058%	$16K	$564K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.136	+0.093%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.143	+0.155%	$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	11.140	+0.134%	$290K	$112K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.133	+0.067%	$118.9M	$435.6M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.135	+0.085%	$88.5M	$138.2M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.132	+0.058%	$20.1M	$117.9M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.134	+0.076%	$12.2M	$34.9M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.133	+0.067%	$48.0M	$79.0M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.137	+0.103%	$15.6M	$21.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.126	+0.004%	$33.3M	$48.7M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.136	+0.094%	—	$82.0M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.153	+0.247%	$357K	$498K	15x	as long as short
Variational Omni AVAXlong	+0.0100%	8h	11.126	long leg	$2.9M	$2.3M	—
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.141	+0.140%	$357K	$801K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.145	+0.175%	$179K	$678K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.136	+0.094%	$130K	$349K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.136	+0.094%	$196K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.189	+0.574%	$12K	$701K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.156	+0.274%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.155	+0.260%	$365K	$871K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.153	+0.247%	$29.8M	$5.6M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.135	+0.081%	$675K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.119	−0.059%	$255K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.148	+0.202%	$5.1M	$5.5M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.167	+0.373%	$902K	$5.5M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.131	+0.045%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.134	+0.072%	$236K	—	120x	as long as short
Hyperliquid AVAX	+0.0453%	1h	11.149	+0.211%	$43.4M	$43.6M	10x	as long as short