Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0195%/8h= +21.3% APRpaid last 24h +0.108%

Price spread now: GMX against Variational Omni−0.134%7-day average +0.107% · you buy dearer than you sell

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

Long on Variational Omni Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.288%+$29 on $10k

Price spread, last 3 days (all we have)+0.223%+$22 · spread now −0.134%, 7d avg +0.107%

Together, before fees+0.511%+ Points / potential airdropVariational Omni: Active · farm board+$51 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.241% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.134% now, against its 7-day average of +0.107%). If the spread goes back, that is −$24 on $10k: about 4.1 days of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni AVAX	11.156	0.0100	pay 0.0100% / 8h	5h 57m	$2.9M	$2.2M	—
Short	GMX AVAX/USD [AVAX-USDC]	11.141	L +0.0436% / S −0.0295%	get 0.0037% / 1h	57m 51s	$236K	—	120x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Variational Omni. 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 Variational OmnibpFee GMXbpOrdersPrice spread, now −0.134%Rate

Funding earned: $40.92
Price spread: −0.134% → +0.107%: −$24.05
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: $4.87
Costs to cover: 0.120%
Break-even: 6.2 days

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; GMX: no order-book sample. 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, 1 min ago	3.18 bp	doesn't fit	10.4 bp −$104	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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 35 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	−0.1374%	1h	11.130	−0.229%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0109%	1h	11.136	−0.175%	$5.2M	$8.0M	25x	as long as short
Nado AVAX-PERP	−0.0023%	1h	11.149	−0.054%	$287K	$460K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.156	0.000%	$103K	$87K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.142	−0.118%	$13K	—	150x	as long as short
Kraken Futures PF_AVAXUSD	+0.0045%	1h	11.139	−0.150%	$4.3M	$11.6M	50x	as long as short
Lighter AVAX	+0.0096%	1h	11.138	−0.159%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.147	−0.077%	$15K	$567K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.159	+0.032%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.131	−0.217%	$2.3M	$1.2M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AVAX	+0.0100%	1h	11.160	+0.039%	$291K	$113K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.110	−0.408%	$118.6M	$442.0M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.111	−0.399%	$88.2M	$139.4M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.110	−0.408%	$20.1M	$120.1M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.124	−0.283%	$12.1M	$34.8M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.111	−0.399%	$48.4M	$78.9M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.116	−0.355%	$15.5M	$22.0M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.106	−0.444%	$33.4M	$49.3M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.111	−0.399%	—	$82.6M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.128	−0.247%	$356K	$500K	15x	as long as short
Variational Omni AVAXlong	+0.0100%	8h	11.156	long leg	$2.9M	$2.2M	—
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.150	−0.050%	$352K	$801K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.154	−0.014%	$179K	$679K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.156	+0.004%	$131K	$349K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.147	−0.077%	$196K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.196	+0.364%	$12K	$704K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.137	−0.166%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.139	−0.153%	$362K	$854K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.135	−0.184%	$29.8M	$5.6M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.106	−0.440%	$671K	$1.6M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.135	−0.180%	$256K	—	3x	as long as short
Hyperliquid AVAX	+0.0229%	1h	11.136	−0.176%	$43.3M	$44.8M	10x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.157	+0.013%	$904K	$5.6M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.142	−0.119%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]short	L +0.0436% / S −0.0295%	1h	11.141	−0.134%	$236K	—	120x