Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0339%/8h= −37.1% APRpaid last 24h −0.162%

Price spread now: Variational Omni against GMX+0.037%7-day average −0.104% · you sell dearer than you buy

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

Long on GMX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.442%−$44 on $10k

Price spread, last 3 days (all we have)−0.097%−$10 · spread now +0.037%, 7d avg −0.104%

Together, before fees−0.539%+ Points / potential airdropVariational Omni: Active · farm board−$54 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.141% dearer against GMX than usual: you sell high and buy low (spread +0.037% now, against its 7-day average of −0.104%): +$14 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 33 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX AVAX/USD [AVAX-USDC]	11.216	L +0.0427% / S −0.0284%	pay 0.0053% / 1h	20m 49s	$237K	—	120x
Short	Variational Omni AVAX	11.220	0.0088	get 0.0088% / 8h	20m 49s	$3.0M	$2.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against GMX. 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 GMXbpFee Variational OmnibpOrdersPrice spread, now +0.037%Rate

Funding earned: −$71.22
Price spread: +0.037% → −0.104%: $14.09
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$69.13
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; Variational Omni: RFQ quote, 3 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 GMX no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 3 min ago	3.21 bp	doesn't fit	9.4 bp −$94	doesn't fit	doesn't fit

GMX: 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
Injective AVAX/USDC PERP	−0.1451%	1h	11.190	−0.230%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0196%	1h	11.214	−0.016%	$5.3M	$8.9M	25x	as long as short
Nado AVAX-PERP	−0.0100%	1h	11.224	+0.077%	$296K	$878K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.227	+0.096%	$103K	$111K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.215	−0.007%	$13K	—	150x	as long as short
Variational Omni AVAXshort	+0.0088%	8h	11.220	+0.037%	$3.0M	$2.4M	—
Lighter AVAX	+0.0096%	1h	11.223	+0.064%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.224	+0.073%	$18K	$667K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.223	+0.065%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.223	+0.066%	$2.3M	$1.7M	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	11.229	+0.117%	$298K	$118K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.219	+0.030%	$120.1M	$512.0M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.219	+0.028%	$89.3M	$154.9M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.218	+0.019%	$20.3M	$143.4M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.222	+0.055%	$12.5M	$40.3M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.224	+0.073%	$50.5M	$93.5M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.226	+0.091%	$15.8M	$24.2M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.222	+0.055%	$34.2M	$57.9M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.225	+0.082%	—	$86.6M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.221	+0.046%	$359K	$563K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.225	+0.079%	$351K	$862K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.227	+0.100%	$180K	$686K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.224	+0.073%	$132K	$440K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.223	+0.064%	$204K	$303K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.243	+0.241%	$12K	$734K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.216	+0.002%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.225	+0.081%	$363K	$999K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.216	+0.002%	$30.1M	$4.9M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.222	+0.058%	$669K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.213	−0.028%	$258K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.221	+0.046%	$5.0M	$7.4M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.218	+0.020%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0271%	1h	11.221	+0.050%	$4.6M	$13.1M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0280%	1h	11.223	+0.064%	$912K	$7.8M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]long	L +0.0427% / S −0.0284%	1h	11.216	long leg	$237K	—	120x
Hyperliquid AVAX	+0.0804%	1h	11.244	+0.251%	$43.7M	$54.9M	10x	as long as short