Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0204%/8h= +22.3% APRpaid last 24h +0.044%

Price spread now: Coinbase International against Orderly−0.144%7-day average +0.019% · you buy dearer than you sell

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

Long on Orderly Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.203%+$20 on $10k

Price spread, last 3 days (all we have)+0.100%+$10 · spread now −0.144%, 7d avg +0.019%

Together, before fees+0.303%+$30 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.162% cheaper against Orderly than usual: you would sell low and buy high (spread −0.144% now, against its 7-day average of +0.019%). If the spread goes back, that is −$16 on $10k: about 2.7 days of funding at the current rate (+$6 a day). At the pace of the last 7 days (+0.203% in total) that is about 5.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_AVAX_USDC	11.148	0.0100	pay 0.0100% / 8h	7h 28m	$196K	$313K	20x
Short	Coinbase International AVAX-PERP-INTX	11.132	0.0304	get 0.0038% / 1h	28m 43s	$904K	$6.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Orderly. 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 OrderlybpFee Coinbase InternationalbpOrdersPrice spread, now −0.144%Rate

Funding earned: $42.84
Price spread: −0.144% → +0.019%: −$16.23
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $10.61
Costs to cover: 0.160%
Break-even: 5.3 days

Slippage unknown: Orderly: no order-book sample; Coinbase International: live order book, 5 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 Orderly no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 5 min ago	2.69 bp	12.6 bp −$13	17.0 bp −$170	doesn't fit	doesn't fit

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 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	−0.1363%	1h	11.080	−0.610%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0050%	1h	11.134	−0.126%	$292K	$830K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.163	+0.135%	$103K	$105K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	11.139	−0.081%	$5.2M	$8.6M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.137	−0.101%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.158	+0.093%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.137	−0.099%	$17K	$625K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.163	+0.131%	$13K	$512	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.145	−0.023%	$2.3M	$1.6M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.162	+0.129%	$296K	$100K	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	11.159	+0.098%	$118.9M	$485.5M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.163	+0.135%	$88.9M	$149.0M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.162	+0.126%	$19.9M	$133.4M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.141	−0.063%	$12.1M	$38.2M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.162	+0.126%	$48.9M	$88.8M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.167	+0.170%	$15.3M	$23.3M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.161	+0.117%	$33.9M	$54.2M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.164	+0.144%	—	$84.6M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.139	−0.081%	$356K	$551K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.145	−0.029%	$2.9M	$2.3M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.149	+0.007%	$359K	$851K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.128	−0.179%	$179K	$688K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.139	−0.081%	$131K	$375K	10x	as long as short
Orderly PERP_AVAX_USDClong	+0.0100%	8h	11.148	long leg	$196K	$313K	20x
SunX AVAX-USDT	+0.0100%	8h	11.166	+0.162%	$12K	$725K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.140	−0.072%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.142	−0.058%	$361K	$951K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.141	−0.063%	$30.0M	$4.9M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.162	+0.122%	$667K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.141	−0.063%	$256K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0216%	1h	11.142	−0.052%	$4.3M	$12.6M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.144	−0.036%	$5.0M	$6.3M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.135	−0.118%	$1K	—	20x	as long as short
Coinbase International AVAX-PERP-INTXshort	+0.0304%	1h	11.132	−0.144%	$904K	$6.8M	50x
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0298%	1h	11.137	−0.100%	$235K	—	120x	as long as short
Hyperliquid AVAX	+0.0689%	1h	11.175	+0.242%	$43.6M	$51.0M	10x	as long as short