Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0115%/8h= −12.6% APRpaid last 24h +0.043%

Price spread now: Nado against Variational Omni+0.109%7-day average +0.057% · you sell dearer than you buy

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

Long on Variational Omni Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.099%+$10 on $10k

Price spread, last 4 days (all we have)−0.132%−$13 · spread now +0.109%, 7d avg +0.057%

Together, before fees−0.032%+ Points / potential airdropVariational Omni: Active · Nado: Active · farm board−$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Nado is 0.052% dearer against Variational Omni than usual: you sell high and buy low (spread +0.109% now, against its 7-day average of +0.057%): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 36 hours. Mind the row above: over the last 3 days funding on this pair paid +0.099%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni AVAX	10.963	0.0100	pay 0.0100% / 8h	4h 15m	$2.9M	$2.2M	—
Short	Nado AVAX-PERP	10.974	−0.0015	pay 0.0002% / 1h	15m 53s	$286K	$370K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.109%Rate

Funding earned: −$24.17
Price spread: +0.109% → +0.057%: $5.19
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$25.98
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Nado: live order book, 42 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, 3 min ago	3.22 bp	doesn't fit	10.9 bp −$109	doesn't fit	doesn't fit
Sell Nado live order book, 42 min ago	1.35 bp	8.8 bp −$9	18.1 bp −$181	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	10.950	−0.115%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0115%	1h	10.971	+0.077%	$5.1M	$7.9M	25x	as long as short
Nado AVAX-PERPshort	−0.0015%	1h	10.974	+0.109%	$286K	$370K	10x
dYdX AVAX-USD	0.0000%	1h	10.977	+0.132%	$96K	$97K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.973	+0.095%	$12K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	10.976	+0.127%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.982	+0.177%	$15K	$549K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	10.976	+0.127%	$12K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.978	+0.137%	$2.2M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.992	+0.273%	$287K	$114K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AVAXUSDT	+0.0100%	8h	10.990	+0.250%	$115.7M	$430.3M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.977	+0.132%	$85.1M	$139.9M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.982	+0.177%	$20.1M	$114.7M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	10.980	+0.159%	$12.1M	$34.4M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.989	+0.241%	$46.0M	$78.6M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.984	+0.195%	$15.4M	$21.7M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.979	+0.150%	$32.9M	$48.0M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.986	+0.214%	—	$78.6M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.978	+0.141%	$330K	$525K	15x	as long as short
Variational Omni AVAXlong	+0.0100%	8h	10.963	long leg	$2.9M	$2.2M	—
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.017	+0.494%	$352K	$874K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.021	+0.533%	$177K	$670K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.991	+0.259%	$129K	$345K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.978	+0.141%	$193K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.019	+0.515%	$12K	$711K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.975	+0.113%	$18K	$71K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.972	+0.081%	$365K	$812K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.981	+0.168%	$29.3M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.978	+0.136%	$678K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.970	+0.068%	$252K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0214%	1h	10.976	+0.126%	$4.2M	$11.3M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.044	+0.743%	$5.1M	$5.4M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	10.973	+0.095%	$889K	$5.2M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	10.984	+0.198%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	10.973	+0.095%	$233K	—	120x	as long as short
Hyperliquid AVAX	+0.0522%	1h	10.992	+0.268%	$42.6M	$42.1M	10x	as long as short