Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.1463%/8h= −160.2% APRpaid last 24h −0.144%

Price spread now: Injective against Orderly−0.547%7-day average −0.282% · you buy dearer than you sell

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

Long on Orderly Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.330%−$33 on $10k

Price spread, last 3 days (all we have)+1.576%+$158 · spread now −0.547%, 7d avg −0.282%

Together, before fees+1.246%+$125 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$44 a day on $10k at the current rate, and Injective is 0.265% cheaper against Orderly than usual: you would sell low and buy high (−$26 if the spread goes back to its 7-day average of −0.282%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.330% in total (about -17.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_AVAX_USDC	11.151	0.0100	pay 0.0100% / 8h	7h 30m	$196K	$313K	20x
Short	Injective AVAX/USDC PERP	11.090	−0.1363	pay 0.0170% / 1h	30m 55s	$17K	$151K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Orderly. 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 OrderlybpFee InjectivebpOrdersPrice spread, now −0.547%Rate

Funding earned: −$307.2
Price spread: −0.547% → −0.282%: −$26.47
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$339.69
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Injective: live order book, 43 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 Injective live order book, 43 min ago	35.68 bp	35.7 bp −$36	doesn't fit	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 PERPshort	−0.1363%	1h	11.090	−0.547%	$17K	$151K	12x
Deribit AVAX_USDC-PERPETUAL	−0.0109%	1h	11.141	−0.090%	$5.3M	$8.6M	25x	as long as short
Nado AVAX-PERP	−0.0057%	1h	11.143	−0.067%	$292K	$831K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.145	−0.056%	$103K	$105K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.148	−0.029%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.144	−0.065%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.152	+0.009%	$18K	$627K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.148	−0.024%	$13K	$514	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.145	−0.057%	$2.3M	$1.6M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.149	−0.018%	$296K	$106K	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	11.128	−0.205%	$118.4M	$487.1M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.127	−0.215%	$88.5M	$149.5M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.126	−0.224%	$19.9M	$134.0M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.128	−0.206%	$12.1M	$38.2M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.125	−0.233%	$48.6M	$88.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.147	−0.036%	$15.3M	$23.3M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.146	−0.045%	$33.8M	$54.8M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.125	−0.233%	—	$85.0M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.144	−0.063%	$356K	$558K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.145	−0.056%	$2.9M	$2.3M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.123	−0.251%	$358K	$851K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.128	−0.206%	$179K	$688K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.150	−0.009%	$131K	$375K	10x	as long as short
Orderly PERP_AVAX_USDClong	+0.0100%	8h	11.151	long leg	$196K	$313K	20x
SunX AVAX-USDT	+0.0100%	8h	11.178	+0.243%	$12K	$726K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.143	−0.072%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.152	+0.004%	$361K	$951K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.143	−0.072%	$30.0M	$4.9M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.139	−0.106%	$667K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.142	−0.081%	$256K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0216%	1h	11.149	−0.021%	$4.3M	$12.6M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.140	−0.099%	$5.0M	$6.3M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.146	−0.046%	$1K	—	20x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0304%	1h	11.163	+0.108%	$907K	$6.9M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0298%	1h	11.147	−0.040%	$235K	—	120x	as long as short
Hyperliquid AVAX	+0.0682%	1h	11.162	+0.094%	$43.5M	$51.0M	10x	as long as short