Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0560%/8h= −61.3% APRpaid last 24h −0.089%

Price spread now: Binance against Hyperliquid−0.153%7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$30as in the Funding arb table

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

costs, in and out, $10k−$250.254% of the position

Long on Hyperliquid Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.051%−$5 on $10k

Price spread, last 7 days+0.154%+$15 · spread now −0.153%, 7d avg −0.027%

Together, before fees+0.103%+ Points / potential airdropHyperliquid: Season 2 · farm board+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Binance is 0.125% cheaper against Hyperliquid than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.027%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.051% in total (about -2.7% 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	Hyperliquid AVAX	11.141	0.0660	pay 0.0083% / 1h	44m 00s	$43.5M	$53.7M	10x
Short	Binance AVAXUSDT	11.124	0.0100	get 0.0100% / 8h	7h 44m	$118.3M	$500.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Hyperliquid. 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 HyperliquidbpFee BinancebpOrdersPrice spread, now −0.153%Rate

Funding earned: −$117.64
Price spread: −0.153% → −0.027%: −$12.51
Slippage, 4 orders: −$6.36
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$155.51
Costs to cover: 0.254%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 10 min ago; Binance: live order book, 15 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 Hyperliquid live order book, 10 min ago	0.45 bp	6.0 bp −$6	13.1 bp −$131	doesn't fit	doesn't fit
Sell Binance live order book, 15 min ago	0.44 bp	6.7 bp −$7	13.4 bp −$134	44.9 bp −$4,490	135.1 bp −$67.5K

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	−0.458%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0289%	1h	11.124	−0.153%	$5.3M	$8.7M	25x	as long as short
Gate AVAX_USDT	−0.0044%	8h	11.122	−0.171%	$12.2M	$38.1M	75x	as long as short
Nado AVAX-PERP	−0.0027%	1h	11.130	−0.099%	$292K	$855K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.133	−0.075%	$102K	$105K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.129	−0.108%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.124	−0.152%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.125	−0.144%	$17K	$644K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.127	−0.126%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.128	−0.120%	$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	11.133	−0.075%	$296K	$117K	10x	as long as short
Binance AVAXUSDTshort	+0.0100%	8h	11.124	−0.153%	$118.3M	$500.3M	75x
Bybit AVAXUSDT	+0.0100%	8h	11.124	−0.153%	$88.5M	$151.8M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.123	−0.162%	$20.0M	$138.0M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.125	−0.144%	$48.5M	$88.2M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.128	−0.117%	$15.4M	$23.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.124	−0.153%	$33.7M	$56.3M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.124	−0.153%	—	$86.4M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.125	−0.144%	$356K	$564K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.125	−0.146%	$2.9M	$2.4M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.120	−0.191%	$358K	$863K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.129	−0.108%	$179K	$689K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.126	−0.135%	$131K	$440K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.135	−0.054%	$194K	$311K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.155	+0.121%	$12K	$732K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.124	−0.153%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.127	−0.130%	$359K	$966K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.123	−0.162%	$29.9M	$4.9M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.122	−0.169%	$666K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.122	−0.170%	$255K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0216%	1h	11.128	−0.118%	$4.3M	$12.9M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.131	−0.090%	$5.0M	$6.7M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.122	−0.172%	$1K	—	20x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0304%	1h	11.136	−0.045%	$904K	$7.2M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0260%	1h	11.128	−0.117%	$248K	—	120x	as long as short
Hyperliquid AVAXlong	+0.0660%	1h	11.141	long leg	$43.5M	$53.7M	10x