Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0098%/8h= −10.7% APRpaid last 24h +0.043%

Price spread now: Nado against Variational Omni+0.121%7-day average +0.057% · you sell dearer than you buy

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

Long on Variational Omni Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.099%+$10 on $10k

Price spread, last 4 days (all we have)−0.144%−$14 · spread now +0.121%, 7d avg +0.057%

Together, before fees−0.045%+ Points / potential airdropVariational Omni: Active · Nado: Active · farm board−$4 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Nado is 0.064% dearer against Variational Omni than usual: you sell high and buy low (spread +0.121% now, against its 7-day average of +0.057%): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.2 days. Mind the row above: over the last 3 days funding on this pair paid +0.099%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni AVAX	11.091	0.0100	pay 0.0100% / 8h	4h 50m	$2.9M	$2.2M	—
Short	Nado AVAX-PERP	11.104	0.0002	get 0.0000% / 1h	50m 43s	$286K	$395K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.121%Rate

Funding earned: −$20.58
Price spread: +0.121% → +0.057%: $6.44
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$21.14
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Nado: live order book, 7 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	3.19 bp	doesn't fit	12.4 bp −$124	doesn't fit	doesn't fit
Sell Nado live order book, 7 min ago	1.35 bp	8.8 bp −$9	18.1 bp −$181	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	−0.1423%	1h	11.090	−0.005%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0201%	1h	11.086	−0.041%	$5.2M	$7.9M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.077	−0.126%	$97K	$97K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.096	+0.050%	$13K	—	150x	as long as short
Nado AVAX-PERPshort	+0.0002%	1h	11.104	+0.121%	$286K	$395K	10x
ApeX Omni AVAXUSDT	+0.0058%	1h	11.137	+0.419%	$179K	$673K	50x	as long as short
Lighter AVAX	+0.0096%	1h	11.073	−0.155%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.104	+0.121%	$16K	$582K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.105	+0.131%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.093	+0.025%	$2.3M	$1.1M	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	11.107	+0.152%	$290K	$114K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.073	−0.161%	$117.8M	$427.7M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.070	−0.185%	$88.1M	$137.6M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.073	−0.158%	$20.2M	$115.6M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.094	+0.031%	$12.1M	$33.9M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.093	+0.022%	$48.2M	$77.4M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.099	+0.076%	$15.8M	$21.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.085	−0.050%	$33.3M	$48.2M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.094	+0.031%	—	$80.3M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.091	+0.004%	$335K	$524K	15x	as long as short
Variational Omni AVAXlong	+0.0100%	8h	11.091	long leg	$2.9M	$2.2M	—
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.137	+0.419%	$355K	$835K	10x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.101	+0.094%	$130K	$349K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.099	+0.076%	$195K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.126	+0.322%	$12K	$702K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.090	−0.005%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.111	+0.183%	$365K	$829K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.094	+0.031%	$29.6M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.090	−0.005%	$680K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.090	−0.007%	$255K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0212%	1h	11.093	+0.019%	$4.3M	$11.3M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.093	+0.022%	$5.1M	$5.4M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.105	+0.130%	$890K	$5.3M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.094	+0.033%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.097	+0.059%	$235K	—	120x	as long as short
Hyperliquid AVAX	+0.0692%	1h	11.104	+0.121%	$43.3M	$42.2M	10x	as long as short