Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0127%/8h= +13.9% APRpaid last 24h +0.151%

Price spread now: Hyperliquid against Variational Omni+0.468%7-day average +0.060% · you sell dearer than you buy

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

Long on Variational Omni Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.250%+$25 on $10k

Price spread, last 7 days−0.441%−$44 · spread now +0.468%, 7d avg +0.060%

Together, before fees−0.191%+ Points / potential airdropVariational Omni: Active · Hyperliquid: Season 2 · farm board−$19 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 Hyperliquid is 0.408% dearer against Variational Omni than usual: you sell high and buy low: +$41 more if the spread goes back to its 7-day average of +0.060%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni AVAX	10.535	−0.0027	get 0.0027% / 8h	2h 17m	$2.7M	$2.2M	—
Short	Hyperliquid AVAX	10.584	0.0100	get 0.0013% / 1h	17m 01s	$37.6M	$44.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.468%Rate

Funding earned: $26.68
Price spread: +0.468% → +0.060%: $40.8
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $58.48
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Hyperliquid: 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, 2 min ago	3.20 bp	doesn't fit	15.0 bp −$150	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 6 min ago	0.47 bp	6.4 bp −$6	12.1 bp −$121	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	10.760	+2.139%	$17K	$152K	12x	as long as short
Kraken Futures PF_AVAXUSD	−0.0282%	1h	10.591	+0.532%	$4.2M	$11.5M	50x	as long as short
Nado AVAX-PERP	−0.0054%	1h	10.592	+0.549%	$284K	$342K	10x	as long as short
Variational Omni AVAXlong	−0.0027%	8h	10.535	long leg	$2.7M	$2.2M	—
dYdX AVAX-USD	0.0000%	1h	10.591	+0.534%	$88K	$117K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.587	+0.497%	$4.7M	$7.5M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.587	+0.501%	$12K	—	150x	as long as short
Gate AVAX_USDT	+0.0014%	8h	10.586	+0.487%	$12.3M	$32.8M	75x	as long as short
Bybit AVAXUSDT	+0.0061%	8h	10.569	+0.326%	$77.9M	$145.2M	75x	as long as short
Backpack AVAX_USDC_PERP	+0.0065%	1h	10.582	+0.449%	$419K	$588K	15x	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	10.585	+0.481%	$1.2M	$2.6M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.590	+0.525%	$18K	$437K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0097%	8h	10.590	+0.523%	$12K	$212	20x	as long as short
Hyperliquid AVAXshort	+0.0100%	1h	10.584	+0.468%	$37.6M	$44.3M	10x
Aster AVAXUSDT	+0.0100%	8h	10.584	+0.472%	$2.1M	$1.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.594	+0.559%	$265K	$131K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.577	+0.405%	$113.5M	$432.1M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.573	+0.364%	$18.7M	$112.0M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.582	+0.449%	$43.9M	$80.6M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.583	+0.459%	$13.2M	$22.9M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.584	+0.468%	$32.0M	$49.2M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.580	+0.430%	—	$54.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.614	+0.757%	$342K	$988K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.612	+0.734%	$171K	$662K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.587	+0.497%	$132K	$354K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.594	+0.563%	$215K	$338K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.618	+0.788%	$11K	$761K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.587	+0.497%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.591	+0.539%	$344K	$804K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.587	+0.497%	$28.2M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.572	+0.352%	$636K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.584	+0.473%	$243K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0216%	1h	10.594	+0.563%	$936K	$5.0M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.584	+0.468%	$4.7M	$5.7M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.583	+0.455%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0271%	1h	10.585	+0.473%	$232K	—	120x	as long as short