AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.1403%/8h= −153.6% APRnext payment −$1.75 per $10,000 · paid last 24h −0.036%

Price spread now: Injective against Deribit−0.297%63s7-day average −0.180% · you buy dearer than you sell

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1001.003% of the position

Long on Deribit Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.230%+$23 on $10k

Price spread, last 3 days (all we have)+1.202%+$120 · spread now −0.297%, 7d avg −0.180%

Together, before fees+1.432%+$143 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$42 a day on $10k at the current rate, and Injective is 0.117% cheaper against Deribit than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.180%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.230%, so the current rate has only just turned against you. The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.230% in total (about 12.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.75 per $10,000. 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	Deribit AVAX_USDC-PERPETUAL	11.113	−0.0020	get 0.0002% / 1h	28m 00s	$5.2M	$8.3M	25x
Short	Injective AVAX/USDC PERP	11.080	−0.1423	pay 0.0178% / 1h	28m 00s	$17K	$151K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Deribit. 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 DeribitbpFee InjectivebpOrdersPrice spread, now −0.297%Rate

Funding earned: −$294.6
Price spread: −0.297% → −0.180%: −$11.72
Slippage, 4 orders: −$93.26
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$406.59
Costs to cover: 1.003%
Break-even: never at this rate

Slippage from Deribit: live order book, 1 min ago; Injective: live order book, 41 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 Deribit live order book, 1 min ago	0.90 bp	5.2 bp −$5	21.8 bp −$218	doesn't fit	doesn't fit
Sell Injective live order book, 41 min ago	35.75 bp	35.8 bp −$36	doesn't fit	doesn't fit	doesn't fit

AVAX on 35 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 PERPshort	−0.1423%	1h	11.080	−0.297%	$17K	$151K	12x
Nado AVAX-PERP	−0.0050%	1h	11.111	−0.013%	$286K	$509K	10x	as long as short
Deribit AVAX_USDC-PERPETUALlong	−0.0020%	1h	11.113	long leg	$5.2M	$8.3M	25x
dYdX AVAX-USD	0.0000%	1h	11.111	−0.016%	$102K	$96K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.115	+0.022%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0049%	8h	11.115	+0.018%	$12.1M	$36.6M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.114	+0.006%	$1.2M	$3.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.107	−0.054%	$15K	$594K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.112	−0.012%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.115	+0.022%	$2.3M	$1.4M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AVAX	+0.0100%	1h	11.111	−0.018%	$295K	$107K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.115	+0.018%	$118.5M	$461.0M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.116	+0.027%	$88.6M	$143.6M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.115	+0.018%	$20.0M	$124.2M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.114	+0.009%	$48.8M	$82.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.119	+0.054%	$15.6M	$22.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.113	0.000%	$33.4M	$51.4M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.114	+0.009%	—	$83.4M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.116	+0.027%	$355K	$535K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.127	+0.124%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.117	+0.036%	$350K	$800K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.120	+0.063%	$179K	$679K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.113	0.000%	$130K	$363K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.120	+0.063%	$195K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.139	+0.229%	$12K	$718K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.115	+0.018%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.107	−0.049%	$361K	$939K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.115	+0.018%	$29.7M	$5.6M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.111	−0.017%	$671K	$1.7M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.116	+0.030%	$255K	—	3x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.109	−0.033%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.117	+0.034%	$4.3M	$11.9M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0288%	1h	11.121	+0.072%	$903K	$5.9M	50x	as long as short
Hyperliquid AVAX	+0.0410%	1h	11.127	+0.126%	$43.3M	$47.1M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.112	−0.005%	$236K	—	120x	as long as short