Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.273%

Price spread now: Injective against OKX+0.140%58s7-day average −0.151% · you sell dearer than you buy

Net, funding: paid 7d − costs−$146as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1031.028% of the position

Long on OKX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.432%−$43 on $10k

Price spread, last 4 days (all we have)+0.380%+$38 · spread now +0.140%, 7d avg −0.151%

Together, before fees−0.052%−$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 0.291% dearer against OKX than usual: you sell high and buy low (spread +0.140% now, against its 7-day average of −0.151%): +$29 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 15 days. At the pace of the last 7 days (−0.432% in total) that is about 4.7 days. 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	OKX AVAX-USDT-SWAP	10.745	0.0100	pay 0.0100% / 8h	7h 28m	$19.0M	$105.7M	50x
Short	Injective AVAX/USDC PERP	10.760	0.0033	get 0.0004% / 1h	28m 21s	$17K	$151K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against OKX. 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 OKXbpFee InjectivebpOrdersPrice spread, now +0.140%Rate

Funding earned: −$14
Price spread: +0.140% → −0.151%: $29.05
Slippage, 4 orders: −$92.76
Fee OKX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$87.73
Costs to cover: 1.028%
Break-even: never at this rate

Slippage from OKX: live order book, 6 min ago; Injective: live order book, 5 min ago.

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 OKX live order book, 6 min ago	0.47 bp	8.3 bp −$8	16.7 bp −$167	63.9 bp −$6,392	doesn't fit
Sell Injective live order book, 5 min ago	27.96 bp	28.0 bp −$28	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
Kraken Futures PF_AVAXUSD	−0.0266%	1h	10.755	+0.093%	$3.7M	$11.6M	50x	as long as short
Nado AVAX-PERP	−0.0205%	1h	10.738	−0.065%	$280K	$321K	10x	as long as short
Variational Omni AVAX	−0.0084%	8h	10.737	−0.077%	$3.0M	$2.1M	—	as long as short
SoDEX AVAX-USD	−0.0081%	1h	10.750	+0.047%	$18K	$68K	10x	as long as short
Gate AVAX_USDT	−0.0065%	8h	10.739	−0.056%	$13.7M	$28.9M	75x	as long as short
Phemex AVAXUSDT	−0.0055%	8h	10.751	+0.056%	$28.7M	$5.6M	50x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.755	+0.093%	$92K	$111K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.755	+0.093%	$4.8M	$6.7M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.744	−0.006%	$12K	—	150x	as long as short
Injective AVAX/USDC PERPshort	+0.0033%	1h	10.760	+0.140%	$17K	$151K	12x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT AVAX_USDT_Perp	+0.0039%	8h	10.742	−0.025%	$336K	$1.2M	10x	as long as short
Paradex AVAX-USD-PERP	+0.0084%	8h	10.745	−0.001%	$12K	$212	20x	as long as short
Lighter AVAX	+0.0096%	1h	10.749	+0.041%	$1.2M	$2.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.739	−0.056%	$22K	$468K	50x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.752	+0.061%	$35.8M	$40.3M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.747	+0.021%	$2.2M	$1.4M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.753	+0.074%	$270K	$128K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.741	−0.037%	$113.2M	$392.2M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.740	−0.047%	$83.9M	$136.7M	75x	as long as short
OKX AVAX-USDT-SWAPlong	+0.0100%	8h	10.745	long leg	$19.0M	$105.7M	50x
MEXC AVAX_USDT	+0.0100%	8h	10.737	−0.074%	$53.1M	$79.5M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.740	−0.047%	$13.9M	$21.0M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.737	−0.074%	$32.7M	$45.2M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.741	−0.037%	—	$52.9M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.756	+0.102%	$437K	$533K	15x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.743	−0.019%	$173K	$661K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.744	−0.009%	$135K	$283K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.755	+0.093%	$233K	$239K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.787	+0.395%	$11K	$770K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.749	+0.042%	$333K	$850K	75x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.738	−0.063%	$609K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.755	+0.096%	$247K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0200%	1h	10.763	+0.168%	$853K	$5.2M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.752	+0.065%	$4.7M	$5.4M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.736	−0.085%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0443% / S −0.0294%	1h	10.757	+0.110%	$227K	—	120x	as long as short