Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0444%/8h= +48.6% APRpaid last 24h +0.086%

Price spread now: Hyperliquid against BingX+0.125%7-day average +0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$270.268% of the position

Long on BingX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.040%+$4 on $10k

Price spread, last 7 days−0.117%−$12 · spread now +0.125%, 7d avg +0.049%

Together, before fees−0.077%+ Points / potential airdropHyperliquid: Season 2 · farm board−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Hyperliquid is 0.076% dearer against BingX than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.049%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.040% in total (about 2.1% 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	BingX AVAX-USDT	11.199	0.0100	pay 0.0100% / 8h	5h 20m	—	$81.5M	—
Short	Hyperliquid AVAX	11.213	0.0544	get 0.0068% / 1h	20m 19s	$43.6M	$42.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BingX. 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 BingXbpFee HyperliquidbpOrdersPrice spread, now +0.125%Rate

Funding earned: $93.16
Price spread: +0.125% → +0.049%: $7.64
Slippage, 4 orders: −$7.78
Fee BingX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $74.02
Costs to cover: 0.268%
Break-even: 1.4 days

Slippage from BingX: live order book, 9 min ago; Hyperliquid: live order book, 3 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 BingX live order book, 9 min ago	0.90 bp	5.9 bp −$6	5.9 bp −$59	7.3 bp −$735	17.5 bp −$8,733
Sell Hyperliquid live order book, 3 min ago	0.44 bp	6.1 bp −$6	11.0 bp −$110	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	−0.1374%	1h	11.120	−0.705%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0107%	1h	11.196	−0.027%	$5.2M	$7.9M	25x	as long as short
Nado AVAX-PERP	−0.0077%	1h	11.197	−0.022%	$288K	$443K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.201	+0.020%	$103K	$87K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.200	+0.009%	$13K	—	150x	as long as short
Kraken Futures PF_AVAXUSD	+0.0045%	1h	11.201	+0.022%	$4.4M	$11.5M	50x	as long as short
Lighter AVAX	+0.0096%	1h	11.198	−0.008%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.197	−0.018%	$16K	$565K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.194	−0.045%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.200	+0.006%	$2.3M	$1.2M	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	11.202	+0.025%	$292K	$112K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.197	−0.021%	$119.7M	$431.4M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.200	+0.009%	$88.9M	$138.1M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.199	0.000%	$20.2M	$117.6M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.199	0.000%	$12.2M	$35.0M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.201	+0.018%	$49.6M	$79.4M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.199	0.000%	$15.8M	$21.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.197	−0.018%	$33.6M	$48.4M	75x	as long as short
BingX AVAX-USDTlong	+0.0100%	8h	11.199	long leg	—	$81.5M	—
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.207	+0.071%	$358K	$495K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.207	+0.075%	$2.9M	$2.3M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.203	+0.037%	$354K	$813K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.207	+0.071%	$180K	$675K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.200	+0.009%	$131K	$349K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.206	+0.063%	$197K	$312K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.237	+0.337%	$12K	$701K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.199	0.000%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.204	+0.045%	$367K	$870K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.198	−0.009%	$29.9M	$5.6M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.195	−0.034%	$678K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.197	−0.013%	$257K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.204	+0.045%	$5.1M	$5.5M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.209	+0.089%	$902K	$5.4M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.197	−0.015%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.200	+0.007%	$237K	—	120x	as long as short
Hyperliquid AVAXshort	+0.0544%	1h	11.213	+0.125%	$43.6M	$42.8M	10x