Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0111%/8h= −12.1% APRpaid last 24h −0.065%

Price spread now: Variational Omni against Kraken Futures−0.181%7-day average −0.104% · you buy dearer than you sell

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

Long on Kraken Futures Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.110%−$11 on $10k

Price spread, last 4 days (all we have)+0.289%+$29 · spread now −0.181%, 7d avg −0.104%

Together, before fees+0.179%+ Points / potential airdropVariational Omni: Active · farm board+$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Variational Omni is 0.076% cheaper against Kraken Futures than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.104%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_AVAXUSD	11.182	0.0211	pay 0.0026% / 1h	39m 59s	$4.3M	$11.2M	50x
Short	Variational Omni AVAX	11.161	0.0100	get 0.0100% / 8h	4h 39m	$2.9M	$2.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Kraken Futures. 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 Kraken FuturesbpFee Variational OmnibpOrdersPrice spread, now −0.181%Rate

Funding earned: −$23.21
Price spread: −0.181% → −0.104%: −$7.63
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$40.84
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 4 min ago; Variational Omni: RFQ quote, 4 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 Kraken Futures live order book, 4 min ago	1.79 bp	10.5 bp −$11	14.4 bp −$144	49.1 bp −$4,906	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	3.18 bp	doesn't fit	14.2 bp −$142	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	11.080	−0.909%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0038%	1h	11.179	−0.024%	$288K	$373K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.173	−0.074%	$98K	$97K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	11.178	−0.033%	$5.2M	$7.9M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.176	−0.051%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.175	−0.056%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.180	−0.015%	$16K	$579K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.175	−0.060%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.174	−0.070%	$2.3M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.182	−0.001%	$292K	$114K	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	11.172	−0.086%	$118.6M	$427.2M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.170	−0.104%	$88.8M	$137.6M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.172	−0.086%	$20.4M	$116.2M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.174	−0.068%	$12.2M	$34.1M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.170	−0.104%	$48.2M	$77.6M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.174	−0.068%	$15.8M	$21.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.171	−0.095%	$33.5M	$48.1M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.173	−0.077%	—	$79.2M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.177	−0.042%	$338K	$520K	15x	as long as short
Variational Omni AVAXshort	+0.0100%	8h	11.161	−0.181%	$2.9M	$2.2M	—
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.150	−0.282%	$356K	$835K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.153	−0.256%	$179K	$674K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.186	+0.039%	$131K	$337K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.186	+0.039%	$196K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.210	+0.251%	$12K	$704K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.176	−0.051%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.178	−0.028%	$368K	$835K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.173	−0.077%	$29.8M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.167	−0.130%	$689K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.178	−0.033%	$257K	—	3x	as long as short
Kraken Futures PF_AVAXUSDlong	+0.0211%	1h	11.182	long leg	$4.3M	$11.2M	50x
BloFin AVAX-USDT	+0.0220%	8h	11.167	−0.131%	$5.0M	$5.4M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.184	+0.021%	$894K	$5.3M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.179	−0.027%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.176	−0.051%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0614%	1h	11.188	+0.057%	$43.4M	$42.5M	10x	as long as short