Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0013%/8h= +1.4% APRpaid last 24h +0.025%

Price spread now: Kraken Futures against Orderly−0.068%7-day average +0.006% · you buy dearer than you sell

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

Long on Orderly Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.044%−$4 on $10k

Price spread, last 4 days (all we have)+0.036%+$4 · spread now −0.068%, 7d avg +0.006%

Together, before fees−0.008%−$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.074% cheaper against Orderly than usual: you would sell low and buy high (spread −0.068% now, against its 7-day average of +0.006%). If the spread goes back, that is −$7 on $10k: about 19 days of funding at the current rate ($0 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_AVAX_USDC	10.741	0.0100	pay 0.0100% / 8h	1h 18m	$231K	$271K	20x
Short	Kraken Futures PF_AVAXUSD	10.734	0.0113	get 0.0014% / 1h	18m 32s	$3.9M	$12.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.068%Rate

Funding earned: $2.67
Price spread: −0.068% → +0.006%: −$7.4
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$20.73
Costs to cover: 0.160%
Break-even: 61.4 days

Slippage unknown: Orderly: no order-book sample; Kraken Futures: 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 Kraken Futures live order book, 5 min ago	2.32 bp	10.9 bp −$11	14.0 bp −$140	50.9 bp −$5,093	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
Nado AVAX-PERP	−0.0197%	1h	10.742	+0.014%	$282K	$342K	10x	as long as short
Variational Omni AVAX	−0.0056%	8h	10.732	−0.087%	$2.8M	$2.1M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	10.741	−0.004%	$92K	$119K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.735	−0.056%	$4.8M	$7.1M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.745	+0.042%	$12K	—	150x	as long as short
Gate AVAX_USDT	+0.0029%	8h	10.737	−0.037%	$12.9M	$32.4M	75x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	+0.177%	$17K	$152K	12x	as long as short
SoDEX AVAX-USD	+0.0085%	1h	10.733	−0.074%	$18K	$72K	10x	as long as short
Paradex AVAX-USD-PERP	+0.0087%	8h	10.736	−0.046%	$12K	$212	20x	as long as short
Bybit AVAXUSDT	+0.0088%	8h	10.734	−0.065%	$81.7M	$146.0M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter AVAX	+0.0096%	1h	10.737	−0.035%	$1.2M	$2.5M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.738	−0.028%	$25K	$443K	50x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.749	+0.074%	$37.4M	$43.8M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.741	0.000%	$2.2M	$1.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.744	+0.024%	$270K	$129K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.737	−0.035%	$114.3M	$424.0M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.732	−0.084%	$18.9M	$112.7M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.737	−0.037%	$45.5M	$80.9M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.738	−0.028%	$13.7M	$22.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.734	−0.065%	$32.5M	$48.7M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.733	−0.074%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.744	+0.028%	$438K	$564K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.744	+0.029%	$342K	$1.1M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.740	−0.009%	$173K	$662K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.748	+0.065%	$135K	$353K	10x	as long as short
Orderly PERP_AVAX_USDClong	+0.0100%	8h	10.741	long leg	$231K	$271K	20x
SunX AVAX-USDT	+0.0100%	8h	10.762	+0.198%	$11K	$766K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.739	−0.019%	$327K	$904K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.738	−0.028%	$28.6M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.730	−0.099%	$610K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.731	−0.097%	$246K	—	3x	as long as short
Kraken Futures PF_AVAXUSDshort	+0.0113%	1h	10.734	−0.068%	$3.9M	$12.0M	50x
Coinbase International AVAX-PERP-INTX	+0.0200%	1h	10.750	+0.084%	$857K	$5.1M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.728	−0.121%	$4.6M	$5.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.736	−0.043%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0443% / S −0.0294%	1h	10.741	−0.004%	$227K	—	120x	as long as short