AVAX arbitrage explained
Right now Avalanche (AVAX) trades on 11 venues we scan: 11 perpetual markets, 7 spot markets and 0 DEX pools. The lowest ask is on Variational perp at $11.59 and the highest bid on Bitget spot at $11.60.
The widest AVAX perpetual spread is between Variational and Hyperliquid: long AVAX on Variational at $11.59 and short on Hyperliquid at $11.60 for +0.11% gross, or -0.05% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is +0.000% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best AVAX route is to buy spot on OKX and short the perpetual on Hyperliquid: +0.02% gross, -0.18% net, with +0.030% a day of funding on the short leg.
Spot–spot AVAX arbitrage (buy on OKX, withdraw, deposit and sell on Bitget) shows +0.03% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.
Small AVAX gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.
Related: AVAX funding rates · AVAX spread charts · Avalanche price · arbitrage scanner for all coins.