Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0540%/8h= +59.1% APRpaid last 24h +0.056%

Price spread now: Hyperliquid against HTX+0.143%7-day average +0.075% · you sell dearer than you buy

Net, funding: paid 7d − costs−$94as in the Funding arb table

Net, price: spread back to 7d avg − costs−$84as in the Price arb table

costs, in and out, $10k−$900.905% of the position

Long on HTX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.039%−$4 on $10k

Price spread, last 3 days (all we have)+0.092%+$9 · spread now +0.143%, 7d avg +0.075%

Together, before fees+0.053%+ Points / potential airdropHyperliquid: Season 2 · farm board+$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Hyperliquid is 0.068% dearer against HTX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.075%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.039% in total (about -2.0% 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	HTX AVAX-USDT	11.290	0.0100	pay 0.0100% / 8h	2h 17m	$362K	$1.1M	75x
Short	Hyperliquid AVAX	11.306	0.0640	get 0.0080% / 1h	17m 16s	$44.1M	$58.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against HTX. 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 HTXbpFee HyperliquidbpOrdersPrice spread, now +0.143%Rate

Funding earned: $113.32
Price spread: +0.143% → +0.075%: $6.79
Slippage, 4 orders: −$69.48
Fee HTX: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $29.62
Costs to cover: 0.905%
Break-even: 5.2 days

Slippage from HTX: live order book, 1 min ago; Hyperliquid: live order book, 6 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 HTX live order book, 1 min ago	26.02 bp	32.0 bp −$32	93.3 bp −$933	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 6 min ago	0.44 bp	5.0 bp −$5	12.4 bp −$124	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
Variational Omni AVAX	−0.0113%	8h	11.284	−0.053%	$2.9M	$2.1M	—	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0104%	1h	11.291	+0.010%	$5.3M	$9.4M	25x	as long as short
Nado AVAX-PERP	−0.0083%	1h	11.286	−0.035%	$298K	$960K	10x	as long as short
Injective AVAX/USDC PERP	−0.0043%	1h	11.240	−0.442%	$17K	$152K	12x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.286	−0.037%	$99K	$115K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0004%	1h	11.293	+0.024%	$16K	—	150x	as long as short
Gate AVAX_USDT	+0.0053%	8h	11.289	−0.008%	$12.6M	$40.2M	75x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0056%	1h	11.300	+0.089%	$917K	$8.2M	50x	as long as short
Extended AVAX-USD	+0.0064%	1h	11.289	−0.011%	$672K	$2.2M	25x	as long as short
OKX AVAX-USDT-SWAP	+0.0074%	8h	11.281	−0.079%	$20.1M	$148.7M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AVAX_USDT	+0.0089%	8h	11.289	−0.008%	$55.5M	$110.1M	200x	as long as short
Binance AVAXUSDT	+0.0091%	8h	11.287	−0.028%	$121.0M	$537.7M	75x	as long as short
Phemex AVAXUSDT	+0.0092%	8h	11.288	−0.017%	$30.2M	$4.9M	50x	as long as short
Lighter AVAX	+0.0096%	1h	11.287	−0.027%	$1.3M	$3.2M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.289	−0.008%	$10K	$704K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0097%	8h	11.283	−0.058%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.289	−0.009%	$2.3M	$1.9M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.286	−0.032%	$300K	$121K	10x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.286	−0.035%	$90.1M	$155.4M	75x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.290	+0.001%	$16.1M	$24.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.291	+0.010%	$34.8M	$61.3M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.291	+0.010%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.277	−0.114%	$333K	$564K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.282	−0.072%	$357K	$909K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.291	+0.010%	$182K	$683K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.292	+0.019%	$131K	$480K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.298	+0.072%	$203K	$302K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.319	+0.261%	$12K	$720K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.288	−0.017%	$19K	$72K	10x	as long as short
HTX AVAX-USDTlong	+0.0100%	8h	11.290	long leg	$362K	$1.1M	75x
Aevo AVAX-PERP	+0.0104%	1h	11.287	−0.027%	$259K	—	3x	as long as short
BloFin AVAX-USDT	+0.0211%	8h	11.285	−0.043%	$5.0M	$8.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.286	−0.030%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0254%	1h	11.296	+0.058%	$4.6M	$13.7M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0405% / S −0.0245%	1h	11.290	+0.003%	$244K	—	120x	as long as short
Hyperliquid AVAXshort	+0.0640%	1h	11.306	+0.143%	$44.1M	$58.7M	10x