Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.045%

Price spread now: Variational Omni against Orderly+0.060%7-day average −0.098% · you sell dearer than you buy

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

Long on Orderly Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.074%−$7 on $10k

Price spread, last 4 days (all we have)−0.040%−$4 · spread now +0.060%, 7d avg −0.098%

Together, before fees−0.114%+ Points / potential airdropVariational Omni: Active · farm board−$11 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: Variational Omni is 0.158% dearer against Orderly than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of −0.098%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_AVAX_USDC	10.940	0.0100	pay 0.0100% / 8h	3h 28m	$192K	$310K	20x
Short	Variational Omni AVAX	10.947	0.0100	get 0.0100% / 8h	3h 28m	$2.9M	$2.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.060%Rate

Funding earned: $0
Price spread: +0.060% → −0.098%: $15.77
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $9.77
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; Variational Omni: RFQ quote, 1 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 Variational Omni RFQ quote, 1 min ago	3.20 bp	doesn't fit	11.7 bp −$117	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	−0.1421%	1h	10.900	−0.366%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0024%	1h	10.932	−0.073%	$5.0M	$7.8M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.940	+0.003%	$96K	$97K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.934	−0.055%	$12K	—	150x	as long as short
Kraken Futures PF_AVAXUSD	+0.0020%	1h	10.936	−0.036%	$4.2M	$11.1M	50x	as long as short
Nado AVAX-PERP	+0.0030%	1h	10.944	+0.037%	$284K	$318K	10x	as long as short
Lighter AVAX	+0.0096%	1h	10.935	−0.049%	$1.2M	$2.7M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.939	−0.009%	$15K	$452K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	10.942	+0.016%	$12K	$212	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.939	−0.008%	$2.2M	$1.1M	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	10.947	+0.063%	$276K	$131K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.934	−0.053%	$115.0M	$426.3M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.929	−0.101%	$83.1M	$140.5M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.932	−0.073%	$19.9M	$112.7M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	10.932	−0.073%	$12.1M	$32.4M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.935	−0.046%	$45.4M	$78.5M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.936	−0.037%	$15.2M	$21.7M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.933	−0.064%	$33.0M	$47.6M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.932	−0.073%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.932	−0.073%	$372K	$548K	15x	as long as short
Variational Omni AVAXshort	+0.0100%	8h	10.947	+0.060%	$2.9M	$2.2M	—
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.947	+0.066%	$346K	$931K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.950	+0.091%	$176K	$667K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.940	0.000%	$128K	$343K	10x	as long as short
Orderly PERP_AVAX_USDClong	+0.0100%	8h	10.940	long leg	$192K	$310K	20x
SunX AVAX-USDT	+0.0100%	8h	10.969	+0.261%	$12K	$722K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.935	−0.046%	$18K	$71K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.943	+0.023%	$364K	$777K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.935	−0.046%	$29.2M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.930	−0.093%	$675K	$1.3M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.929	−0.101%	$251K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.936	−0.037%	$4.9M	$5.3M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	10.940	0.000%	$891K	$5.1M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	10.936	−0.036%	$1K	—	20x	as long as short
Hyperliquid AVAX	+0.0308%	1h	10.946	+0.055%	$42.0M	$41.4M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0437% / S −0.0295%	1h	10.932	−0.070%	$232K	—	120x	as long as short