Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.063%

Price spread now: Phemex against Variational Omni+0.217%7-day average +0.079% · you sell dearer than you buy

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

Long on Variational Omni Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.122%+$12 on $10k

Price spread, last 3 days (all we have)−0.190%−$19 · spread now +0.217%, 7d avg +0.079%

Together, before fees−0.068%+ Points / potential airdropVariational Omni: Active · farm board−$7 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: Phemex is 0.138% dearer against Variational Omni than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of +0.079%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni AVAX	11.178	0.0100	pay 0.0100% / 8h	7h 13m	$2.9M	$2.2M	—
Short	Phemex AVAXUSDT	11.202	0.0100	get 0.0100% / 8h	7h 13m	$30.0M	$5.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.217%Rate

Funding earned: $0
Price spread: +0.217% → +0.079%: $13.82
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: $1.82
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Phemex: 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, 1 min ago	3.17 bp	doesn't fit	9.9 bp −$99	doesn't fit	doesn't fit
Sell Phemex live order book, 6 min ago	4.03 bp	17.8 bp −$18	27.1 bp −$271	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	−0.1363%	1h	11.130	−0.427%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0058%	1h	11.204	+0.235%	$294K	$730K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0018%	1h	11.201	+0.208%	$5.3M	$8.5M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.200	+0.196%	$103K	$105K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.204	+0.230%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.201	+0.208%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.204	+0.235%	$15K	$611K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.204	+0.239%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.199	+0.192%	$2.3M	$1.5M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.204	+0.233%	$297K	$100K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AVAXUSDT	+0.0100%	8h	11.203	+0.226%	$119.6M	$476.2M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.204	+0.235%	$89.0M	$147.7M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.203	+0.226%	$20.0M	$130.9M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.192	+0.127%	$12.1M	$38.3M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.203	+0.226%	$48.9M	$88.9M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.196	+0.163%	$15.4M	$23.0M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.204	+0.235%	$34.0M	$53.4M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.205	+0.244%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.206	+0.253%	$358K	$548K	15x	as long as short
Variational Omni AVAXlong	+0.0100%	8h	11.178	long leg	$2.9M	$2.2M	—
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.187	+0.084%	$353K	$847K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.190	+0.109%	$180K	$688K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.206	+0.253%	$131K	$372K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.210	+0.288%	$197K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.226	+0.430%	$12K	$718K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.204	+0.235%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.190	+0.113%	$362K	$937K	75x	as long as short
Phemex AVAXUSDTshort	+0.0100%	8h	11.202	+0.217%	$30.0M	$5.1M	50x
Extended AVAX-USD	+0.0104%	1h	11.202	+0.217%	$671K	$2.0M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.196	+0.161%	$257K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0215%	1h	11.210	+0.284%	$4.3M	$12.5M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.188	+0.092%	$5.0M	$6.2M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.200	+0.197%	$1K	—	20x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0304%	1h	11.197	+0.172%	$924K	$6.5M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0298%	1h	11.203	+0.224%	$236K	—	120x	as long as short
Hyperliquid AVAX	+0.0682%	1h	11.209	+0.279%	$43.8M	$49.6M	10x	as long as short