Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.004%

Price spread now: dYdX against Orderly−0.118%7-day average −0.049% · you buy dearer than you sell

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

Long on Orderly Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.141%−$14 on $10k

Price spread, last 3 days (all we have)+0.094%+$9 · spread now −0.118%, 7d avg −0.049%

Together, before fees−0.047%−$5 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 dYdX is 0.069% cheaper against Orderly than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.049%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_AVAX_USDC	11.119	0.0100	pay 0.0100% / 8h	6h 17m	$195K	$313K	20x
Short	dYdX AVAX-USD	11.106	0	get 0.0000% / 1h	17m 44s	$102K	$96K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Orderly. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 OrderlybpFee dYdXbpOrdersPrice spread, now −0.118%Rate

Funding earned: −$21
Price spread: −0.118% → −0.049%: −$6.89
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$43.89
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; dYdX: live order book, 51 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 Orderly no order-book sample	—	—	—	—	—
Sell dYdX live order book, 51 min ago	130.74 bp	135.7 bp −$136	136.5 bp −$1,365	140.4 bp −$14.0K	162.5 bp −$81.2K

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

AVAX on 35 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	11.040	−0.710%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0045%	1h	11.107	−0.112%	$286K	$500K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0020%	1h	11.114	−0.045%	$5.2M	$8.2M	25x	as long as short
dYdX AVAX-USDshort	0.0000%	1h	11.106	−0.118%	$102K	$96K	10x
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.117	−0.017%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0056%	8h	11.107	−0.108%	$12.1M	$36.7M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.107	−0.112%	$1.2M	$3.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.101	−0.162%	$15K	$582K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.105	−0.125%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.110	−0.081%	$2.3M	$1.4M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AVAX	+0.0100%	1h	11.110	−0.077%	$295K	$107K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.105	−0.126%	$118.4M	$455.3M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.104	−0.135%	$88.4M	$142.9M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.103	−0.144%	$20.0M	$122.7M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.105	−0.126%	$48.6M	$82.8M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.111	−0.072%	$15.5M	$22.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.098	−0.189%	$33.3M	$50.7M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.105	−0.126%	—	$83.0M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.108	−0.099%	$355K	$532K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.095	−0.212%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.112	−0.063%	$355K	$810K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.102	−0.153%	$178K	$678K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.110	−0.081%	$130K	$363K	10x	as long as short
Orderly PERP_AVAX_USDClong	+0.0100%	8h	11.119	long leg	$195K	$313K	20x
SunX AVAX-USDT	+0.0100%	8h	11.142	+0.204%	$12K	$713K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.116	−0.027%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.113	−0.058%	$361K	$870K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.115	−0.036%	$29.7M	$5.6M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.098	−0.193%	$671K	$1.7M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.108	−0.095%	$255K	—	3x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.107	−0.108%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.118	−0.007%	$4.3M	$11.8M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0288%	1h	11.126	+0.063%	$904K	$5.8M	50x	as long as short
Hyperliquid AVAX	+0.0393%	1h	11.123	+0.036%	$43.2M	$45.6M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.116	−0.025%	$236K	—	120x	as long as short