Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.1521%/8h= −166.6% APRpaid last 24h −0.190%

Price spread now: Injective against Variational Omni−0.426%7-day average −0.156% · you buy dearer than you sell

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

Long on Variational Omni Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.273%−$27 on $10k

Price spread, last 4 days (all we have)+1.233%+$123 · spread now −0.426%, 7d avg −0.156%

Together, before fees+0.961%+ Points / potential airdropVariational Omni: Active · farm board+$96 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$46 a day on $10k at the current rate, and Injective is 0.270% cheaper against Variational Omni than usual: you would sell low and buy high (−$27 if the spread goes back to its 7-day average of −0.156%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.273% in total (about -28.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni AVAX	10.947	0.0100	pay 0.0100% / 8h	3h 27m	$2.9M	$2.2M	—
Short	Injective AVAX/USDC PERP	10.900	−0.1421	pay 0.0178% / 1h	27m 14s	$17K	$151K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.426%Rate

Funding earned: −$319.44
Price spread: −0.426% → −0.156%: −$27
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$346.46
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Injective: live order book, 26 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	15.2 bp −$152	doesn't fit	doesn't fit
Sell Injective live order book, 26 min ago	40.93 bp	40.9 bp −$41	doesn't fit	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 PERPshort	−0.1421%	1h	10.900	−0.426%	$17K	$151K	12x
dYdX AVAX-USD	0.0000%	1h	10.940	−0.060%	$96K	$97K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.938	−0.078%	$5.0M	$7.8M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.937	−0.088%	$12K	—	150x	as long as short
Kraken Futures PF_AVAXUSD	+0.0020%	1h	10.941	−0.049%	$4.2M	$11.2M	50x	as long as short
Nado AVAX-PERP	+0.0029%	1h	10.941	−0.056%	$284K	$318K	10x	as long as short
Lighter AVAX	+0.0096%	1h	10.939	−0.070%	$1.2M	$2.7M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.941	−0.051%	$15K	$452K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	10.941	−0.054%	$12K	$212	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.942	−0.042%	$2.2M	$1.1M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AVAX	+0.0100%	1h	10.942	−0.040%	$276K	$131K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.938	−0.078%	$115.0M	$426.2M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.934	−0.115%	$83.2M	$140.6M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.937	−0.088%	$19.9M	$112.7M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	10.939	−0.069%	$12.1M	$32.4M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.939	−0.069%	$45.4M	$78.5M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.941	−0.051%	$15.2M	$21.7M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.937	−0.088%	$33.0M	$47.6M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.938	−0.078%	—	$54.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.932	−0.133%	$372K	$548K	15x	as long as short
Variational Omni AVAXlong	+0.0100%	8h	10.947	long leg	$2.9M	$2.2M	—
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.942	−0.039%	$345K	$939K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.950	+0.031%	$176K	$667K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.942	−0.042%	$128K	$343K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.943	−0.033%	$192K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.970	+0.218%	$11K	$722K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.938	−0.078%	$18K	$71K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.938	−0.082%	$364K	$780K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.939	−0.069%	$29.2M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.934	−0.112%	$675K	$1.3M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.935	−0.106%	$251K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.938	−0.078%	$4.9M	$5.3M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	10.943	−0.033%	$890K	$5.1M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	10.939	−0.074%	$1K	—	20x	as long as short
Hyperliquid AVAX	+0.0304%	1h	10.954	+0.068%	$42.0M	$41.4M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	10.939	−0.073%	$232K	—	120x	as long as short