Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.023%

Price spread now: Lighter against Orderly+0.029%7-day average −0.066% · you sell dearer than you buy

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

Long on Orderly Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.099%−$10 on $10k

Price spread, last 4 days (all we have)−0.039%−$4 · spread now +0.029%, 7d avg −0.066%

Together, before fees−0.138%+ Points / potential airdropLighter: Season 3 · farm board−$14 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 0.094% dearer against Orderly than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.066%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_AVAX_USDC	10.748	0.0100	pay 0.0100% / 8h	1h 20m	$231K	$275K	20x
Short	Lighter AVAX	10.751	0.0096	get 0.0012% / 1h	20m 40s	$1.2M	$2.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.029%Rate

Funding earned: −$0.84
Price spread: +0.029% → −0.066%: $9.44
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: $2.6
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; 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 Orderly no order-book sample	—	—	—	—	—
Sell Lighter live order book, 6 min ago	2.75 bp	3.8 bp −$4	11.9 bp −$119	88.1 bp −$8,812	doesn't fit

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 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
Nado AVAX-PERP	−0.0194%	1h	10.736	−0.112%	$282K	$341K	10x	as long as short
Variational Omni AVAX	−0.0056%	8h	10.732	−0.152%	$2.8M	$2.1M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.749	+0.005%	$92K	$119K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.742	−0.056%	$4.8M	$7.1M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.745	−0.023%	$12K	—	150x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	+0.112%	$17K	$152K	12x	as long as short
Gate AVAX_USDT	+0.0034%	8h	10.751	+0.028%	$12.9M	$32.3M	75x	as long as short
Paradex AVAX-USD-PERP	+0.0087%	8h	10.753	+0.047%	$12K	$212	20x	as long as short
Bybit AVAXUSDT	+0.0090%	8h	10.748	0.000%	$81.8M	$146.0M	75x	as long as short
SoDEX AVAX-USD	+0.0092%	1h	10.742	−0.056%	$18K	$72K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AVAXshort	+0.0096%	1h	10.751	+0.029%	$1.2M	$2.5M	10x
Popdex AVAXUSDT	+0.0096%	1h	10.756	+0.074%	$25K	$443K	50x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.759	+0.102%	$37.4M	$43.8M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.751	+0.030%	$2.2M	$1.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.757	+0.080%	$270K	$129K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.753	+0.042%	$114.4M	$423.5M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.748	0.000%	$18.9M	$112.8M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.751	+0.028%	$45.6M	$80.9M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.750	+0.019%	$13.6M	$22.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.750	+0.019%	$32.5M	$48.6M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.751	+0.028%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.745	−0.028%	$438K	$564K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.744	−0.036%	$342K	$1.1M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.747	−0.009%	$173K	$661K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.739	−0.084%	$135K	$353K	10x	as long as short
Orderly PERP_AVAX_USDClong	+0.0100%	8h	10.748	long leg	$231K	$275K	20x
SunX AVAX-USDT	+0.0100%	8h	10.772	+0.222%	$12K	$766K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.749	+0.006%	$338K	$904K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.741	−0.065%	$28.7M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.747	−0.010%	$610K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.738	−0.089%	$247K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0113%	1h	10.748	+0.004%	$4.2M	$11.3M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0200%	1h	10.759	+0.102%	$855K	$5.1M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.743	−0.047%	$4.6M	$5.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.740	−0.077%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0443% / S −0.0294%	1h	10.745	−0.024%	$227K	—	120x	as long as short