Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.010%

Price spread now: Lighter against OKX+0.051%7-day average +0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$240.237% of the position

Long on OKX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.096%−$10 on $10k

Price spread, last 4 days (all we have)−0.027%−$3 · spread now +0.051%, 7d avg +0.009%

Together, before fees−0.122%+ Points / potential airdropLighter: Season 3 · farm board−$12 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.042% dearer against OKX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX AVAX-USDT-SWAP	11.242	0.0100	pay 0.0100% / 8h	45m 10s	$20.2M	$144.9M	50x
Short	Lighter AVAX	11.248	0.0096	get 0.0012% / 1h	45m 10s	$1.2M	$3.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.051%Rate

Funding earned: −$0.84
Price spread: +0.051% → +0.009%: $4.17
Slippage, 4 orders: −$13.68
Fee OKX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$20.35
Costs to cover: 0.237%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Lighter: live order book, 2 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, 4 min ago	0.44 bp	9.1 bp −$9	17.3 bp −$173	67.4 bp −$6,738	doesn't fit
Sell Lighter live order book, 2 min ago	3.02 bp	3.3 bp −$3	11.1 bp −$111	83.1 bp −$8,306	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	−0.1451%	1h	11.210	−0.285%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0106%	1h	11.244	+0.018%	$5.3M	$8.9M	25x	as long as short
Nado AVAX-PERP	−0.0088%	1h	11.250	+0.076%	$297K	$885K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.253	+0.096%	$104K	$111K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.248	+0.053%	$13K	—	150x	as long as short
Variational Omni AVAX	+0.0062%	8h	11.258	+0.143%	$3.0M	$2.4M	—	as long as short
Lighter AVAXshort	+0.0096%	1h	11.248	+0.051%	$1.2M	$3.3M	10x
Popdex AVAXUSDT	+0.0096%	1h	11.245	+0.027%	$18K	$677K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.250	+0.068%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.249	+0.062%	$2.3M	$1.8M	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	11.257	+0.135%	$299K	$118K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.246	+0.036%	$120.5M	$518.0M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.246	+0.036%	$89.5M	$155.9M	75x	as long as short
OKX AVAX-USDT-SWAPlong	+0.0100%	8h	11.242	long leg	$20.2M	$144.9M	50x
Gate AVAX_USDT	+0.0100%	8h	11.245	+0.027%	$12.2M	$40.1M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.246	+0.036%	$52.2M	$93.1M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.252	+0.089%	$15.8M	$24.3M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.243	+0.009%	$34.3M	$59.1M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.246	+0.036%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.245	+0.027%	$360K	$564K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.249	+0.060%	$359K	$864K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.244	+0.018%	$181K	$684K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.248	+0.053%	$134K	$438K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.254	+0.107%	$204K	$303K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.276	+0.302%	$12K	$733K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.246	+0.036%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.246	+0.040%	$363K	$1.0M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.245	+0.027%	$30.2M	$5.0M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.243	+0.013%	$672K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.243	+0.009%	$258K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.248	+0.053%	$5.0M	$7.7M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.244	+0.016%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0270%	1h	11.251	+0.079%	$4.6M	$13.2M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0280%	1h	11.263	+0.187%	$917K	$8.0M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0419% / S −0.0271%	1h	11.246	+0.040%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0858%	1h	11.262	+0.178%	$43.7M	$55.3M	10x	as long as short