Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0019%/8h= −2.1% APRpaid last 24h −0.071%

Price spread now: Variational Omni against Pacifica+0.618%7-day average −0.030% · you sell dearer than you buy

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

Long on Pacifica Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.143%−$14 on $10k

Price spread, last 4 days (all we have)−0.701%−$70 · spread now +0.618%, 7d avg −0.030%

Together, before fees−0.844%+ Points / potential airdropPacifica: Active · Variational Omni: Active · farm board−$84 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.648% dearer against Pacifica than usual: you sell high and buy low (spread +0.618% now, against its 7-day average of −0.030%): +$65 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4 months. At the pace of the last 4 days (−0.143% in total) that is about 16 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica AVAX	10.777	0.0100	pay 0.0013% / 1h	1m 47s	$271K	$130K	10x
Short	Variational Omni AVAX	10.844	0.0081	get 0.0081% / 8h	3h 01m	$2.8M	$2.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Pacifica. 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 PacificabpFee Variational OmnibpOrdersPrice spread, now +0.618%Rate

Funding earned: −$4.05
Price spread: +0.618% → −0.030%: $64.84
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $52.8
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Pacifica: live order book, 51 min ago; Variational Omni: RFQ quote, 2 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 Pacifica live order book, 51 min ago	4.54 bp	8.5 bp −$9	17.0 bp −$170	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	3.23 bp	doesn't fit	9.5 bp −$95	doesn't fit	doesn't fit

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	10.800	+0.213%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0122%	1h	10.757	−0.186%	$4.9M	$7.5M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.775	−0.022%	$94K	$97K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.756	−0.199%	$12K	—	150x	as long as short
Kraken Futures PF_AVAXUSD	+0.0020%	1h	10.759	−0.171%	$4.1M	$11.1M	50x	as long as short
Gate AVAX_USDT	+0.0042%	8h	10.771	−0.056%	$12.2M	$32.9M	75x	as long as short
Nado AVAX-PERP	+0.0044%	1h	10.757	−0.186%	$280K	$308K	10x	as long as short
Variational Omni AVAXshort	+0.0081%	8h	10.844	+0.618%	$2.8M	$2.2M	—
Lighter AVAX	+0.0096%	1h	10.776	−0.006%	$1.2M	$2.7M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.744	−0.306%	$7K	$436K	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex AVAX-USD-PERP	+0.0097%	8h	10.776	−0.006%	$12K	$212	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.772	−0.049%	$2.2M	$1.1M	75x	as long as short
Pacifica AVAXlong	+0.0100%	1h	10.777	long leg	$271K	$130K	10x
Binance AVAXUSDT	+0.0100%	8h	10.776	−0.009%	$113.0M	$418.8M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.769	−0.074%	$80.6M	$141.1M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.776	−0.009%	$19.5M	$109.2M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.776	−0.009%	$44.1M	$79.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.773	−0.037%	$14.7M	$21.7M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.768	−0.084%	$32.1M	$47.9M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.770	−0.065%	—	$54.8M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.751	−0.241%	$367K	$528K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.847	+0.648%	$341K	$942K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.856	+0.733%	$174K	$663K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.755	−0.204%	$126K	$344K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.757	−0.186%	$189K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.785	+0.078%	$11K	$721K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.755	−0.204%	$18K	$71K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.762	−0.138%	$358K	$780K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.759	−0.167%	$28.7M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.761	−0.147%	$663K	$1.3M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.758	−0.181%	$247K	—	3x	as long as short
Hyperliquid AVAX	+0.0180%	1h	10.782	+0.046%	$40.6M	$40.2M	10x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.831	+0.501%	$4.8M	$5.3M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	10.755	−0.204%	$884K	$4.7M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	10.758	−0.178%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0275%	1h	10.758	−0.180%	$234K	—	120x	as long as short