Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0441%/8h= +48.3% APRpaid last 24h +0.094%

Price spread now: Hyperliquid against Gate+0.107%7-day average +0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$450.453% of the position

Long on Gate Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.088%+$9 on $10k

Price spread, last 7 days−0.099%−$10 · spread now +0.107%, 7d avg +0.033%

Together, before fees−0.012%+ Points / potential airdropHyperliquid: Season 2 · farm board−$1 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 0.073% dearer against Gate than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.033%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.088% in total (about 4.6% 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	Gate AVAX_USDT	11.245	0.0100	pay 0.0100% / 8h	1h 40m	$12.6M	$40.1M	75x
Short	Hyperliquid AVAX	11.257	0.0541	get 0.0068% / 1h	40m 57s	$43.6M	$57.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Gate. 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 GatebpFee HyperliquidbpOrdersPrice spread, now +0.107%Rate

Funding earned: $92.57
Price spread: +0.107% → +0.033%: $7.33
Slippage, 4 orders: −$21.34
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $54.56
Costs to cover: 0.453%
Break-even: 2.9 days

Slippage from Gate: 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 Gate live order book, 3 min ago	0.89 bp	15.5 bp −$16	23.5 bp −$235	36.5 bp −$3,651	63.2 bp −$31.6K
Sell Hyperliquid live order book, 13 min ago	1.77 bp	6.9 bp −$7	11.2 bp −$112	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	−0.0570%	1h	11.190	−0.489%	$17K	$151K	12x	as long as short
Variational Omni AVAX	−0.0033%	8h	11.187	−0.512%	$2.9M	$2.4M	—	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0017%	1h	11.238	−0.062%	$5.3M	$9.2M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.249	+0.034%	$99K	$107K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0004%	1h	11.240	−0.045%	$16K	—	150x	as long as short
Nado AVAX-PERP	+0.0018%	1h	11.241	−0.040%	$297K	$898K	10x	as long as short
Lighter AVAX	+0.0096%	1h	11.242	−0.024%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.243	−0.018%	$15K	$695K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0099%	8h	11.242	−0.029%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.245	+0.003%	$2.3M	$1.9M	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	11.247	+0.016%	$299K	$120K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.251	+0.053%	$120.2M	$528.0M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.249	+0.036%	$88.0M	$157.5M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.249	+0.036%	$20.2M	$146.8M	50x	as long as short
Gate AVAX_USDTlong	+0.0100%	8h	11.245	long leg	$12.6M	$40.1M	75x
MEXC AVAX_USDT	+0.0100%	8h	11.250	+0.044%	$52.1M	$99.9M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.247	+0.018%	$16.7M	$24.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.250	+0.044%	$34.2M	$60.4M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.250	+0.044%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.241	−0.036%	$359K	$578K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.227	−0.163%	$355K	$886K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.230	−0.133%	$180K	$686K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.244	−0.009%	$134K	$459K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.246	+0.009%	$202K	$301K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.271	+0.234%	$12K	$729K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.241	−0.036%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.238	−0.067%	$362K	$1.1M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.243	−0.018%	$30.2M	$5.0M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.240	−0.046%	$669K	$2.2M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.137	−0.961%	$256K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0192%	1h	11.258	+0.116%	$907K	$8.3M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.242	−0.027%	$5.0M	$8.0M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.239	−0.053%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0396% / S −0.0236%	1h	11.240	−0.048%	$237K	—	120x	as long as short
Hyperliquid AVAXshort	+0.0541%	1h	11.257	+0.107%	$43.6M	$57.9M	10x
Kraken Futures PF_AVAXUSD	+0.0629%	1h	11.248	+0.025%	$4.6M	$13.6M	50x	as long as short