Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0303%/8h= −33.2% APRpaid last 24h −0.072%

Price spread now: Deribit against Variational Omni−0.357%7-day average +0.033% · you buy dearer than you sell

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

Long on Variational Omni Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.373%−$37 on $10k

Price spread, last 4 days (all we have)+0.178%+$18 · spread now −0.357%, 7d avg +0.033%

Together, before fees−0.194%+ Points / potential airdropVariational Omni: Active · farm board−$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Deribit is 0.389% cheaper against Variational Omni than usual: you would sell low and buy high (−$39 if the spread goes back to its 7-day average of +0.033%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni AVAX	11.064	0.0100	pay 0.0100% / 8h	4h 21m	$2.9M	$2.2M	—
Short	Deribit AVAX_USDC-PERPETUAL	11.025	−0.0203	pay 0.0025% / 1h	21m 46s	$5.1M	$7.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Variational Omni. 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 Variational OmnibpFee DeribitbpOrdersPrice spread, now −0.357%Rate

Funding earned: −$63.7
Price spread: −0.357% → +0.033%: −$38.92
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$109.61
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Deribit: live order book, 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 Variational Omni RFQ quote, 2 min ago	3.21 bp	doesn't fit	13.3 bp −$133	doesn't fit	doesn't fit
Sell Deribit live order book, 2 min ago	0.90 bp	4.4 bp −$4	16.5 bp −$165	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	−0.1423%	1h	11.020	−0.402%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUALshort	−0.0203%	1h	11.025	−0.357%	$5.1M	$7.9M	25x
Nado AVAX-PERP	−0.0024%	1h	11.035	−0.262%	$286K	$370K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.022	−0.381%	$96K	$97K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.029	−0.320%	$12K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.017	−0.431%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.035	−0.266%	$15K	$549K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.019	−0.414%	$12K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.028	−0.326%	$2.2M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.023	−0.376%	$287K	$114K	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	11.018	−0.421%	$116.9M	$428.0M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.016	−0.438%	$87.5M	$137.5M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.016	−0.438%	$20.2M	$114.6M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.023	−0.375%	$12.1M	$34.3M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.019	−0.411%	$46.6M	$78.0M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.026	−0.348%	$15.5M	$21.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.016	−0.438%	$33.0M	$47.9M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.022	−0.384%	—	$78.4M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.018	−0.420%	$331K	$522K	15x	as long as short
Variational Omni AVAXlong	+0.0100%	8h	11.064	long leg	$2.9M	$2.2M	—
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.078	+0.122%	$350K	$863K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.073	+0.077%	$178K	$671K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.037	−0.248%	$129K	$335K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.033	−0.284%	$194K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.058	−0.057%	$12K	$707K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.024	−0.366%	$18K	$71K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.034	−0.271%	$361K	$813K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.024	−0.366%	$29.4M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.019	−0.414%	$682K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.027	−0.338%	$253K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0214%	1h	11.025	−0.356%	$4.3M	$11.2M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.046	−0.167%	$5.0M	$5.4M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.051	−0.122%	$885K	$5.2M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.029	−0.324%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.029	−0.323%	$234K	—	120x	as long as short
Hyperliquid AVAX	+0.0553%	1h	11.031	−0.302%	$42.8M	$42.0M	10x	as long as short