Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0563%/8h= +61.7% APRpaid last 24h +0.089%

Price spread now: Hyperliquid against Binance+0.205%7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$8as in the Price arb table

costs, in and out, $10k−$250.254% of the position

Long on Binance Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.051%+$5 on $10k

Price spread, last 7 days−0.207%−$21 · spread now +0.205%, 7d avg +0.027%

Together, before fees−0.156%+ Points / potential airdropHyperliquid: Season 2 · farm board−$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and Hyperliquid is 0.178% dearer against Binance than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of +0.027%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.051% in total (about 2.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance AVAXUSDT	11.124	0.0100	pay 0.0100% / 8h	7h 46m	$118.3M	$501.3M	75x
Short	Hyperliquid AVAX	11.147	0.0663	get 0.0083% / 1h	46m 36s	$43.5M	$53.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Binance. 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 BinancebpFee HyperliquidbpOrdersPrice spread, now +0.205%Rate

Funding earned: $118.28
Price spread: +0.205% → +0.027%: $17.76
Slippage, 4 orders: −$6.36
Fee Binance: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $110.69
Costs to cover: 0.254%
Break-even: 0.4 days

Slippage from Binance: live order book, 12 min ago; Hyperliquid: live order book, 7 min ago.

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 Binance live order book, 12 min ago	0.44 bp	6.2 bp −$6	13.4 bp −$134	40.4 bp −$4,037	133.1 bp −$66.6K
Sell Hyperliquid live order book, 7 min ago	0.45 bp	6.4 bp −$6	9.8 bp −$98	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	−0.1363%	1h	11.080	−0.397%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0199%	1h	11.128	+0.034%	$5.3M	$8.8M	25x	as long as short
Gate AVAX_USDT	−0.0036%	8h	11.132	+0.070%	$12.2M	$38.0M	75x	as long as short
Nado AVAX-PERP	−0.0020%	1h	11.125	+0.012%	$292K	$859K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.133	+0.076%	$102K	$105K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.136	+0.104%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.127	+0.024%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.126	+0.016%	$18K	$645K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.131	+0.065%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.124	−0.004%	$2.3M	$1.7M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AVAX	+0.0100%	1h	11.132	+0.071%	$296K	$117K	10x	as long as short
Binance AVAXUSDTlong	+0.0100%	8h	11.124	long leg	$118.3M	$501.3M	75x
Bybit AVAXUSDT	+0.0100%	8h	11.122	−0.020%	$88.5M	$152.3M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.120	−0.038%	$20.0M	$138.3M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.132	+0.070%	$48.5M	$88.2M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.130	+0.052%	$15.4M	$23.7M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.127	+0.025%	$33.7M	$56.5M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.128	+0.034%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.139	+0.133%	$356K	$565K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.152	+0.248%	$3.0M	$2.3M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.120	−0.040%	$358K	$863K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.121	−0.029%	$179K	$689K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.126	+0.016%	$131K	$440K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.140	+0.142%	$194K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.153	+0.255%	$12K	$733K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.132	+0.070%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.126	+0.012%	$359K	$977K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.134	+0.088%	$29.9M	$4.9M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.124	0.000%	$666K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.126	+0.012%	$256K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0216%	1h	11.136	+0.109%	$4.3M	$13.0M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.130	+0.052%	$5.0M	$6.7M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.122	−0.021%	$1K	—	20x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0304%	1h	11.139	+0.133%	$904K	$7.3M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0260%	1h	11.133	+0.082%	$248K	—	120x	as long as short
Hyperliquid AVAXshort	+0.0663%	1h	11.147	+0.205%	$43.5M	$53.7M	10x