Funding arb · Price arb /

AVAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0437%/8h= −47.9% APRpaid last 24h −0.075%

Price spread now: Bitget against Hyperliquid−0.195%7-day average −0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$320.322% of the position

Long on Hyperliquid Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.024%−$2 on $10k

Price spread, last 7 days+0.164%+$16 · spread now −0.195%, 7d avg −0.048%

Together, before fees+0.140%+ Points / potential airdropHyperliquid: Season 2 · farm board+$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Bitget is 0.147% cheaper against Hyperliquid than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.048%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.024% in total (about -1.3% 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	11.264	0.0537	pay 0.0067% / 1h	41m 37s	$43.6M	$57.9M	10x
Short	Bitget AVAXUSDT	11.242	0.0100	get 0.0100% / 8h	1h 41m	$34.2M	$60.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.195%Rate

Funding earned: −$91.78
Price spread: −0.195% → −0.048%: −$14.74
Slippage, 4 orders: −$11.21
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$138.74
Costs to cover: 0.322%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 12 min ago; Bitget: live order book, 2 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, 12 min ago	1.77 bp	7.5 bp −$7	15.3 bp −$153	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	1.33 bp	8.6 bp −$9	16.3 bp −$163	41.9 bp −$4,194	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	−0.657%	$17K	$151K	12x	as long as short
Variational Omni AVAX	−0.0033%	8h	11.187	−0.680%	$2.9M	$2.4M	—	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0017%	1h	11.244	−0.178%	$5.3M	$9.2M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.249	−0.135%	$99K	$107K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0004%	1h	11.247	−0.149%	$16K	—	150x	as long as short
Nado AVAX-PERP	+0.0018%	1h	11.241	−0.209%	$297K	$898K	10x	as long as short
Lighter AVAX	+0.0096%	1h	11.248	−0.142%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.243	−0.186%	$15K	$695K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0099%	8h	11.242	−0.198%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.245	−0.166%	$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	−0.152%	$299K	$120K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.243	−0.182%	$120.3M	$527.9M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.241	−0.204%	$87.9M	$157.5M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.240	−0.213%	$20.2M	$146.6M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.245	−0.169%	$12.6M	$40.1M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.245	−0.169%	$52.1M	$99.9M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.252	−0.107%	$16.5M	$24.4M	75x	as long as short
Bitget AVAXUSDTshort	+0.0100%	8h	11.242	−0.195%	$34.2M	$60.4M	75x
BingX AVAX-USDC	+0.0100%	8h	11.243	−0.186%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.242	−0.195%	$359K	$578K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.227	−0.332%	$355K	$886K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.230	−0.302%	$180K	$686K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.250	−0.124%	$134K	$459K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.254	−0.089%	$202K	$301K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.277	+0.118%	$12K	$729K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.245	−0.169%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.246	−0.155%	$362K	$1.1M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.246	−0.160%	$30.3M	$5.0M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.242	−0.192%	$669K	$2.2M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.210	−0.479%	$257K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0192%	1h	11.259	−0.044%	$907K	$8.3M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.256	−0.071%	$5.1M	$8.0M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.247	−0.154%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0396% / S −0.0236%	1h	11.247	−0.153%	$237K	—	120x	as long as short
Hyperliquid AVAXlong	+0.0537%	1h	11.264	long leg	$43.6M	$57.9M	10x
Kraken Futures PF_AVAXUSD	+0.0629%	1h	11.252	−0.110%	$4.6M	$13.6M	50x	as long as short