Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0265%/8h= −29.0% APRpaid last 24h −0.046%

Price spread now: BloFin against Hyperliquid−0.187%7-day average −0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$310.311% of the position

Long on Hyperliquid Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.194%+$19 on $10k

Price spread, last 3 days (all we have)−0.071%−$7 · spread now −0.187%, 7d avg −0.040%

Together, before fees+0.123%+ Points / potential airdropHyperliquid: Season 2 · farm board+$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and BloFin 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 −0.040%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.194%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid AVAX	11.217	0.0455	pay 0.0057% / 1h	38m 53s	$42.7M	$58.0M	10x
Short	BloFin AVAX-USDT	11.196	0.0190	get 0.0190% / 8h	2h 38m	$5.0M	$8.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.187%Rate

Funding earned: −$55.66
Price spread: −0.187% → −0.040%: −$14.7
Slippage, 4 orders: −$10.1
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$101.45
Costs to cover: 0.311%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 5 min ago; BloFin: live order book, 5 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, 5 min ago	0.45 bp	6.5 bp −$6	13.1 bp −$131	doesn't fit	doesn't fit
Sell BloFin live order book, 5 min ago	1.34 bp	10.5 bp −$10	15.7 bp −$157	38.3 bp −$3,827	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	−0.0196%	1h	11.195	−0.196%	$5.3M	$9.4M	25x	as long as short
Variational Omni AVAX	−0.0169%	8h	11.174	−0.387%	$2.9M	$2.1M	—	as long as short
Nado AVAX-PERP	−0.0112%	1h	11.188	−0.263%	$296K	$956K	10x	as long as short
Injective AVAX/USDC PERP	−0.0043%	1h	11.100	−1.043%	$17K	$127K	12x	as long as short
Extended AVAX-USD	−0.0016%	1h	11.203	−0.127%	$666K	$2.3M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.196	−0.184%	$98K	$115K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.198	−0.169%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0043%	8h	11.202	−0.134%	$12.5M	$39.7M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0051%	8h	11.205	−0.107%	$20.1M	$147.1M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0056%	1h	11.203	−0.125%	$912K	$8.2M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit AVAXUSDT	+0.0060%	8h	11.206	−0.098%	$85.3M	$151.1M	75x	as long as short
Phemex AVAXUSDT	+0.0062%	8h	11.196	−0.187%	$30.0M	$4.8M	50x	as long as short
MEXC AVAX_USDT	+0.0067%	8h	11.203	−0.125%	$53.5M	$108.9M	200x	as long as short
Binance AVAXUSDT	+0.0070%	8h	11.201	−0.143%	$120.0M	$538.0M	75x	as long as short
Paradex AVAX-USD-PERP	+0.0095%	8h	11.189	−0.248%	$13K	$766	20x	as long as short
Lighter AVAX	+0.0096%	1h	11.195	−0.196%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.185	−0.285%	$13K	$697K	50x	as long as short
Aevo AVAX-PERP	+0.0096%	1h	11.191	−0.234%	$257K	—	3x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.198	−0.167%	$2.3M	$1.9M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.198	−0.166%	$297K	$122K	10x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.205	−0.107%	$16.0M	$24.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.203	−0.125%	$34.4M	$61.1M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.203	−0.125%	—	$90.4M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.200	−0.152%	$332K	$556K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.170	−0.419%	$353K	$910K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.176	−0.366%	$180K	$684K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.194	−0.205%	$130K	$482K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.202	−0.134%	$201K	$302K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.215	−0.021%	$12K	$713K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.193	−0.214%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.184	−0.299%	$359K	$1.1M	75x	as long as short
BloFin AVAX-USDTshort	+0.0190%	8h	11.196	−0.187%	$5.0M	$8.5M	100x
Reya AVAXRUSDPERP	+0.0244%	1h	11.197	−0.178%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0256%	1h	11.204	−0.116%	$4.7M	$13.7M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0405% / S −0.0244%	1h	11.197	−0.178%	$241K	—	120x	as long as short
Hyperliquid AVAXlong	+0.0455%	1h	11.217	long leg	$42.7M	$58.0M	10x