Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0143%/8h= −15.6% APRpaid last 24h −0.168%

Price spread now: Injective against HTX−0.640%55s7-day average −0.215% · you buy dearer than you sell

Net, funding: paid 7d − costs−$205as 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−$1681.679% of the position

Long on HTX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.371%−$37 on $10k

Price spread, last 3 days (all we have)+1.584%+$158 · spread now −0.640%, 7d avg −0.215%

Together, before fees+1.212%+$121 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Injective is 0.425% cheaper against HTX than usual: you would sell low and buy high (−$42 if the spread goes back to its 7-day average of −0.215%). Swap the legs. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX AVAX-USDT	11.171	0.0100	pay 0.0100% / 8h	2h 43m	$358K	$1.1M	75x
Short	Injective AVAX/USDC PERP	11.100	−0.0043	pay 0.0005% / 1h	43m 23s	$17K	$127K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.640%Rate

Funding earned: −$29.96
Price spread: −0.640% → −0.215%: −$42.46
Slippage, 4 orders: −$155.9
Fee HTX: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$240.34
Costs to cover: 1.679%
Break-even: never at this rate

Slippage from HTX: live order book, just now; Injective: live order book, 45 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, just now	24.52 bp	44.9 bp −$45	116.0 bp −$1,160	doesn't fit	doesn't fit
Sell Injective live order book, 45 min ago	27.20 bp	27.2 bp −$27	doesn't fit	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
Deribit AVAX_USDC-PERPETUAL	−0.0197%	1h	11.172	+0.004%	$5.3M	$9.4M	25x	as long as short
Variational Omni AVAX	−0.0177%	8h	11.179	+0.063%	$2.9M	$2.1M	—	as long as short
Nado AVAX-PERP	−0.0106%	1h	11.184	+0.112%	$296K	$956K	10x	as long as short
Injective AVAX/USDC PERPshort	−0.0043%	1h	11.100	−0.640%	$17K	$127K	12x
Extended AVAX-USD	−0.0016%	1h	11.183	+0.105%	$666K	$2.3M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.183	+0.103%	$98K	$115K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.174	+0.020%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0043%	8h	11.171	−0.004%	$12.5M	$39.6M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0046%	8h	11.171	−0.004%	$20.0M	$146.7M	50x	as long as short
Bybit AVAXUSDT	+0.0048%	8h	11.172	+0.004%	$84.8M	$150.8M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex AVAXUSDT	+0.0056%	8h	11.174	+0.022%	$30.0M	$4.8M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0056%	1h	11.183	+0.103%	$891K	$8.1M	50x	as long as short
MEXC AVAX_USDT	+0.0068%	8h	11.174	+0.022%	$53.4M	$108.9M	200x	as long as short
Binance AVAXUSDT	+0.0068%	8h	11.171	−0.001%	$119.7M	$538.3M	75x	as long as short
Paradex AVAX-USD-PERP	+0.0095%	8h	11.182	+0.095%	$13K	$766	20x	as long as short
Lighter AVAX	+0.0096%	1h	11.178	+0.058%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.184	+0.112%	$13K	$697K	50x	as long as short
Aevo AVAX-PERP	+0.0096%	1h	11.166	−0.050%	$256K	—	3x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.185	+0.123%	$2.3M	$2.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.183	+0.103%	$297K	$122K	10x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.186	+0.130%	$15.9M	$24.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.170	−0.013%	$34.4M	$61.1M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.171	−0.004%	—	$90.3M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.178	+0.058%	$326K	$554K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.182	+0.094%	$358K	$907K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.187	+0.139%	$180K	$686K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.186	+0.130%	$124K	$475K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.179	+0.067%	$201K	$302K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.204	+0.288%	$12K	$713K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.173	+0.013%	$19K	$72K	10x	as long as short
HTX AVAX-USDTlong	+0.0100%	8h	11.171	long leg	$358K	$1.1M	75x
BloFin AVAX-USDT	+0.0189%	8h	11.182	+0.094%	$5.0M	$8.7M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.172	+0.006%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0257%	1h	11.180	+0.079%	$4.6M	$13.6M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0405% / S −0.0244%	1h	11.171	−0.008%	$241K	—	120x	as long as short
Hyperliquid AVAX	+0.0420%	1h	11.197	+0.228%	$42.5M	$58.5M	10x	as long as short