Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.068%

Price spread now: Popdex against Variational Omni+0.068%7-day average +0.036% · you sell dearer than you buy

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

Long on Variational Omni Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.137%+$14 on $10k

Price spread, last 4 days (all we have)−0.168%−$17 · spread now +0.068%, 7d avg +0.036%

Together, before fees−0.031%+ Points / potential airdropVariational Omni: Active · farm board−$3 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: Popdex is 0.032% dearer against Variational Omni than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni AVAX	11.013	0.0100	pay 0.0100% / 8h	4h 20m	$2.8M	$2.2M	—
Short	Popdex AVAXUSDT	11.021	0.0096	get 0.0012% / 1h	20m 26s	$15K	$550K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now +0.068%Rate

Funding earned: −$0.84
Price spread: +0.068% → +0.036%: $3.21
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$4.03
Costs to cover: 0.064%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Popdex: live order book, 39 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, 4 min ago	3.21 bp	doesn't fit	13.3 bp −$133	doesn't fit	doesn't fit
Sell Popdex live order book, 39 min ago	2.24 bp	6.3 bp −$6	15.5 bp −$155	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	10.990	−0.213%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0113%	1h	11.014	+0.005%	$5.1M	$7.9M	25x	as long as short
Nado AVAX-PERP	−0.0021%	1h	11.020	+0.059%	$286K	$370K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.027	+0.121%	$96K	$97K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.026	+0.114%	$12K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.023	+0.088%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDTshort	+0.0096%	1h	11.021	+0.068%	$15K	$550K	50x
Paradex AVAX-USD-PERP	+0.0100%	8h	11.026	+0.116%	$12K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.029	+0.142%	$2.2M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.029	+0.142%	$288K	$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	11.026	+0.114%	$117.0M	$428.1M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.023	+0.087%	$87.5M	$137.5M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.026	+0.114%	$20.2M	$114.7M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.024	+0.096%	$12.1M	$34.3M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.025	+0.105%	$46.8M	$78.1M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.028	+0.132%	$15.5M	$21.7M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.024	+0.096%	$33.1M	$47.9M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.024	+0.096%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.017	+0.032%	$331K	$522K	15x	as long as short
Variational Omni AVAXlong	+0.0100%	8h	11.013	long leg	$2.8M	$2.2M	—
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.049	+0.323%	$350K	$863K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.073	+0.541%	$178K	$671K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.025	+0.105%	$129K	$335K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.031	+0.159%	$194K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.049	+0.324%	$12K	$708K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.017	+0.032%	$18K	$71K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.012	−0.016%	$361K	$813K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.020	+0.059%	$29.4M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.022	+0.079%	$682K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.021	+0.064%	$253K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0214%	1h	11.017	+0.036%	$4.3M	$11.2M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.018	+0.041%	$5.0M	$5.3M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.034	+0.186%	$884K	$5.2M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.021	+0.069%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.026	+0.111%	$234K	—	120x	as long as short
Hyperliquid AVAX	+0.0548%	1h	11.039	+0.232%	$42.8M	$42.0M	10x	as long as short