Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0145%/8h= +15.8% APRpaid last 24h +0.049%

Price spread now: Backpack against Variational Omni+0.210%7-day average +0.034% · you sell dearer than you buy

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

Long on Variational Omni Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.088%+$9 on $10k

Price spread, last 4 days (all we have)−0.496%−$50 · spread now +0.210%, 7d avg +0.034%

Together, before fees−0.408%+ Points / potential airdropVariational Omni: Active · farm board−$41 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Backpack is 0.175% dearer against Variational Omni than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of +0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni AVAX	10.676	−0.0045	get 0.0045% / 8h	1h 33m	$2.8M	$2.1M	—
Short	Backpack AVAX_USDC_PERP	10.698	0.0100	get 0.0013% / 1h	33m 48s	$436K	$565K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Variational Omni. 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 Variational OmnibpFee BackpackbpOrdersPrice spread, now +0.210%Rate

Funding earned: $30.38
Price spread: +0.210% → +0.034%: $17.53
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Backpack: 5 bp × 2 orders: −$10
Net: $37.91
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, just now; Backpack: live order book, 10 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, just now	3.18 bp	doesn't fit	14.0 bp −$140	doesn't fit	doesn't fit
Sell Backpack live order book, 10 min ago	1.40 bp	6.9 bp −$7	41.4 bp −$414	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
Nado AVAX-PERP	−0.0173%	1h	10.679	+0.032%	$285K	$340K	10x	as long as short
Variational Omni AVAXlong	−0.0045%	8h	10.676	long leg	$2.8M	$2.1M	—
dYdX AVAX-USD	0.0000%	1h	10.687	+0.108%	$89K	$117K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.686	+0.097%	$4.8M	$7.1M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.687	+0.103%	$12K	—	150x	as long as short
Gate AVAX_USDT	+0.0029%	8h	10.694	+0.172%	$12.7M	$32.2M	75x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	+0.790%	$17K	$152K	12x	as long as short
Paradex AVAX-USD-PERP	+0.0088%	8h	10.685	+0.089%	$12K	$212	20x	as long as short
Bybit AVAXUSDT	+0.0092%	8h	10.694	+0.172%	$81.1M	$146.4M	75x	as long as short
SoDEX AVAX-USD	+0.0096%	1h	10.683	+0.069%	$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 AVAX	+0.0096%	1h	10.688	+0.113%	$1.2M	$2.5M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.685	+0.088%	$23K	$424K	50x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.702	+0.247%	$37.3M	$44.0M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.695	+0.184%	$2.2M	$1.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.691	+0.141%	$268K	$129K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.698	+0.210%	$113.6M	$425.0M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.697	+0.200%	$18.7M	$112.4M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.696	+0.191%	$45.3M	$80.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.697	+0.200%	$13.6M	$23.0M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.696	+0.191%	$32.4M	$48.8M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.696	+0.191%	—	$54.5M	—	as long as short
Backpack AVAX_USDC_PERPshort	+0.0100%	1h	10.698	+0.210%	$436K	$565K	15x
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.701	+0.235%	$340K	$1.1M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.705	+0.275%	$173K	$663K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.683	+0.069%	$135K	$352K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.692	+0.153%	$230K	$346K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.713	+0.346%	$11K	$765K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.692	+0.152%	$336K	$872K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.684	+0.078%	$28.5M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.691	+0.144%	$609K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.681	+0.055%	$245K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0113%	1h	10.690	+0.136%	$4.2M	$11.3M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0200%	1h	10.694	+0.172%	$930K	$5.0M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.676	+0.003%	$4.6M	$5.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.677	+0.011%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0295%	1h	10.684	+0.079%	$226K	—	120x	as long as short