Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.247%

Price spread now: Orderly against Injective+0.911%58s7-day average +0.271% · you sell dearer than you buy

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

Long on Injective Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.444%+$44 on $10k

Price spread, last 4 days (all we have)−1.818%−$182 · spread now +0.911%, 7d avg +0.271%

Together, before fees−1.374%−$137 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Orderly is 0.639% dearer against Injective than usual: you sell high and buy low: +$64 more if the spread goes back to its 7-day average of +0.271%. The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective AVAX/USDC PERP	10.760	0.0033	pay 0.0004% / 1h	52m 00s	$17K	$151K	12x
Short	Orderly PERP_AVAX_USDC	10.858	0.0100	get 0.0100% / 8h	5h 52m	$235K	$217K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Injective. 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 InjectivebpFee OrderlybpOrdersPrice spread, now +0.911%Rate

Funding earned: $14
Price spread: +0.911% → +0.271%: $63.95
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Orderly: 3 bp × 2 orders: −$6
Net: $71.93
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Injective: live order book, 59 min ago; Orderly: no order-book sample. 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 Injective live order book, 59 min ago	32.42 bp	60.1 bp −$60	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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 exchanges

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
Variational Omni AVAX	−0.0140%	8h	10.876	+1.076%	$3.1M	$2.1M	—	as long as short
Gate AVAX_USDT	−0.0119%	8h	10.854	+0.874%	$14.5M	$26.7M	75x	as long as short
SoDEX AVAX-USD	−0.0106%	1h	10.853	+0.864%	$19K	$67K	10x	as long as short
Kraken Futures PF_AVAXUSD	−0.0056%	1h	10.856	+0.890%	$3.7M	$10.9M	50x	as long as short
Bybit AVAXUSDT	−0.0049%	8h	10.842	+0.762%	$84.5M	$131.6M	75x	as long as short
Phemex AVAXUSDT	−0.0029%	8h	10.860	+0.929%	$28.9M	$5.6M	50x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0026%	1h	10.853	+0.864%	$5.0M	$6.6M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.868	+1.000%	$92K	$100K	10x	as long as short
Nado AVAX-PERP	+0.0001%	1h	10.849	+0.832%	$276K	$300K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0002%	1h	10.884	+1.152%	$23K	—	150x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective AVAX/USDC PERPlong	+0.0033%	1h	10.760	long leg	$17K	$151K	12x
OKX AVAX-USDT-SWAP	+0.0094%	8h	10.839	+0.734%	$19.3M	$102.1M	50x	as long as short
Lighter AVAX	+0.0096%	1h	10.853	+0.862%	$1.2M	$1.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.851	+0.846%	$23K	$438K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0099%	8h	10.868	+1.003%	$12K	$62	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.855	+0.887%	$2.2M	$1.3M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.869	+1.013%	$273K	$122K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.844	+0.781%	$114.5M	$373.6M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.855	+0.883%	$52.6M	$69.3M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.854	+0.874%	$14.2M	$18.9M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.851	+0.846%	$33.1M	$43.3M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.852	+0.855%	—	$39.3M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.856	+0.892%	$438K	$522K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.889	+1.196%	$343K	$1.5M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.893	+1.236%	$175K	$658K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.851	+0.846%	$137K	$247K	10x	as long as short
Orderly PERP_AVAX_USDCshort	+0.0100%	8h	10.858	+0.911%	$235K	$217K	20x
SunX AVAX-USDT	+0.0100%	8h	10.881	+1.121%	$12K	$773K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.871	+1.029%	$326K	$949K	75x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.845	+0.789%	$615K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.847	+0.809%	$249K	—	3x	as long as short
Hyperliquid AVAX	+0.0104%	1h	10.869	+1.013%	$36.3M	$37.5M	10x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0208%	1h	10.863	+0.957%	$858K	$5.1M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.879	+1.106%	$4.8M	$5.2M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.846	+0.803%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0294%	1h	10.856	+0.892%	$229K	—	120x	as long as short