Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0431%/8h= +47.2% APRpaid last 24h +0.063%

Price spread now: Hyperliquid against BloFin+0.135%7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$290.293% of the position

Long on BloFin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.169%−$17 on $10k

Price spread, last 3 days (all we have)−0.018%−$2 · spread now +0.135%, 7d avg +0.045%

Together, before fees−0.187%+ Points / potential airdropHyperliquid: Season 2 · farm board−$19 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 0.090% dearer against BloFin than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.045%. Mind the row above: over the last 7 days funding on this pair cost −0.169%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.169% in total (about -8.8% 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	BloFin AVAX-USDT	11.134	0.0220	pay 0.0220% / 8h	7h 40m	$5.0M	$6.6M	100x
Short	Hyperliquid AVAX	11.149	0.0651	get 0.0081% / 1h	40m 58s	$43.5M	$53.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BloFin. 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 BloFinbpFee HyperliquidbpOrdersPrice spread, now +0.135%Rate

Funding earned: $90.51
Price spread: +0.135% → +0.045%: $9
Slippage, 4 orders: −$8.31
Fee BloFin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $70.19
Costs to cover: 0.293%
Break-even: 1.6 days

Slippage from BloFin: live order book, 3 min ago; Hyperliquid: live order book, 13 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 BloFin live order book, 3 min ago	2.25 bp	8.6 bp −$9	12.8 bp −$128	28.2 bp −$2,825	doesn't fit
Sell Hyperliquid live order book, 13 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	11.090	−0.395%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0289%	1h	11.121	−0.117%	$5.3M	$8.7M	25x	as long as short
Nado AVAX-PERP	−0.0035%	1h	11.127	−0.063%	$292K	$853K	10x	as long as short
Gate AVAX_USDT	−0.0029%	8h	11.134	0.000%	$12.2M	$38.1M	75x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.124	−0.088%	$102K	$105K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.125	−0.081%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.132	−0.018%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.124	−0.090%	$18K	$641K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.120	−0.127%	$13K	$514	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.140	+0.057%	$2.3M	$1.6M	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	11.127	−0.065%	$295K	$117K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.135	+0.007%	$118.5M	$496.9M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.134	0.000%	$88.6M	$151.4M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.132	−0.018%	$20.0M	$137.7M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.135	+0.009%	$48.9M	$88.3M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.140	+0.054%	$15.4M	$23.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.137	+0.027%	$33.7M	$56.1M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.134	0.000%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.135	+0.009%	$356K	$563K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.127	−0.065%	$2.9M	$2.4M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.123	−0.097%	$358K	$851K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.144	+0.090%	$179K	$688K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.126	−0.072%	$131K	$385K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.130	−0.036%	$196K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.154	+0.181%	$12K	$730K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.131	−0.027%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.120	−0.121%	$360K	$966K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.131	−0.027%	$29.9M	$4.9M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.131	−0.030%	$666K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.127	−0.058%	$256K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0216%	1h	11.136	+0.021%	$4.3M	$12.9M	50x	as long as short
BloFin AVAX-USDTlong	+0.0220%	8h	11.134	long leg	$5.0M	$6.6M	100x
Reya AVAXRUSDPERP	+0.0244%	1h	11.122	−0.109%	$1K	—	20x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0304%	1h	11.138	+0.036%	$904K	$7.2M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0260%	1h	11.124	−0.088%	$248K	—	120x	as long as short
Hyperliquid AVAXshort	+0.0651%	1h	11.149	+0.135%	$43.5M	$53.7M	10x