Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.017%

Price spread now: Lighter against Orderly−0.047%7-day average −0.069% · you buy dearer than you sell

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

Long on Orderly Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.120%−$12 on $10k

Price spread, last 3 days (all we have)+0.037%+$4 · spread now −0.047%, 7d avg −0.069%

Together, before fees−0.084%+ Points / potential airdropLighter: Season 3 · farm board−$8 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 0.022% dearer against Orderly than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.069%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_AVAX_USDC	11.161	0.0100	pay 0.0100% / 8h	7h 03m	$196K	$313K	20x
Short	Lighter AVAX	11.156	0.0096	get 0.0012% / 1h	3m 20s	$1.2M	$3.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.047%Rate

Funding earned: −$0.84
Price spread: −0.047% → −0.069%: $2.19
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: −$4.65
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Lighter: live order book, 4 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 Lighter live order book, 4 min ago	4.65 bp	6.7 bp −$7	20.5 bp −$205	101.6 bp −$10.2K	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	11.100	−0.547%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0073%	1h	11.162	+0.009%	$293K	$680K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0018%	1h	11.185	+0.215%	$5.3M	$8.4M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.153	−0.076%	$103K	$105K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.157	−0.036%	$13K	—	150x	as long as short
Lighter AVAXshort	+0.0096%	1h	11.156	−0.047%	$1.2M	$3.1M	10x
Popdex AVAXUSDT	+0.0096%	1h	11.163	+0.018%	$15K	$604K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.150	−0.102%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.158	−0.027%	$2.3M	$1.4M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.159	−0.020%	$296K	$107K	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	11.153	−0.069%	$119.2M	$474.2M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.157	−0.036%	$88.7M	$147.0M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.154	−0.063%	$19.9M	$129.5M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.161	0.000%	$12.1M	$38.6M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.155	−0.054%	$50.2M	$89.5M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.163	+0.018%	$15.3M	$23.0M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.154	−0.063%	$33.9M	$53.0M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.157	−0.036%	—	$83.8M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.179	+0.161%	$357K	$547K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.188	+0.246%	$3.0M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.191	+0.269%	$353K	$847K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.191	+0.269%	$180K	$688K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.160	−0.009%	$131K	$370K	10x	as long as short
Orderly PERP_AVAX_USDClong	+0.0100%	8h	11.161	long leg	$196K	$313K	20x
SunX AVAX-USDT	+0.0100%	8h	11.221	+0.538%	$12K	$719K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.187	+0.233%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.194	+0.295%	$364K	$942K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.188	+0.242%	$30.0M	$5.1M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.152	−0.081%	$671K	$2.0M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.152	−0.079%	$256K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0215%	1h	11.190	+0.257%	$4.3M	$12.5M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.191	+0.269%	$5.0M	$6.1M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.157	−0.034%	$1K	—	20x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0304%	1h	11.202	+0.367%	$910K	$6.4M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0297%	1h	11.155	−0.053%	$236K	—	120x	as long as short
Hyperliquid AVAX	+0.0660%	1h	11.177	+0.143%	$43.7M	$49.0M	10x	as long as short