AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0322%/8h= −35.3% APRnext payment −$0.40 per $10,000 · paid last 24h −0.054%

Price spread now: Coinbase International against Hyperliquid−0.116%7-day average −0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$420.420% of the position

Long on Hyperliquid Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.143%+$14 on $10k

Price spread, last 4 days (all we have)−0.400%−$40 · spread now −0.116%, 7d avg −0.003%

Together, before fees−0.257%+ Points / potential airdropHyperliquid: Season 2 · farm board−$26 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Coinbase International is 0.114% cheaper against Hyperliquid than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.003%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.143%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.143% in total (about 7.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.40 per $10,000. 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	11.204	0.0554	pay 0.0069% / 1h	17m 53s	$43.6M	$42.8M	10x
Short	Coinbase International AVAX-PERP-INTX	11.191	0.0232	get 0.0029% / 1h	17m 53s	$900K	$5.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.116%Rate

Funding earned: −$67.71
Price spread: −0.116% → −0.003%: −$11.35
Slippage, 4 orders: −$23.03
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$121.1
Costs to cover: 0.420%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 5 min ago; Coinbase International: live order book, 1 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	0.44 bp	8.9 bp −$9	15.3 bp −$153	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	3.13 bp	13.4 bp −$13	18.5 bp −$185	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
Injective AVAX/USDC PERP	−0.1374%	1h	11.120	−0.750%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0108%	1h	11.178	−0.232%	$5.2M	$7.9M	25x	as long as short
Nado AVAX-PERP	−0.0075%	1h	11.178	−0.232%	$288K	$443K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.183	−0.190%	$103K	$87K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.178	−0.233%	$13K	—	150x	as long as short
Kraken Futures PF_AVAXUSD	+0.0045%	1h	11.186	−0.161%	$4.4M	$11.5M	50x	as long as short
Lighter AVAX	+0.0096%	1h	11.184	−0.179%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.180	−0.214%	$16K	$565K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.180	−0.211%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.187	−0.150%	$2.3M	$1.2M	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	11.185	−0.173%	$292K	$114K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.188	−0.146%	$119.7M	$431.1M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.187	−0.152%	$88.8M	$138.0M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.187	−0.152%	$20.2M	$117.4M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.188	−0.143%	$12.2M	$35.0M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.188	−0.143%	$49.4M	$79.4M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.189	−0.134%	$15.8M	$21.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.186	−0.161%	$33.6M	$48.3M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.188	−0.143%	—	$81.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.187	−0.152%	$358K	$494K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.207	+0.031%	$2.9M	$2.3M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.203	−0.008%	$354K	$813K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.215	+0.098%	$180K	$675K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.184	−0.179%	$131K	$349K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.185	−0.170%	$196K	$312K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.207	+0.030%	$12K	$700K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.183	−0.187%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.181	−0.201%	$366K	$870K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.185	−0.170%	$29.8M	$5.6M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.185	−0.168%	$687K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.184	−0.182%	$257K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.192	−0.107%	$5.1M	$5.5M	100x	as long as short
Coinbase International AVAX-PERP-INTXshort	+0.0232%	1h	11.191	−0.116%	$900K	$5.4M	50x
Reya AVAXRUSDPERP	+0.0244%	1h	11.179	−0.223%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.177	−0.244%	$237K	—	120x	as long as short
Hyperliquid AVAXlong	+0.0554%	1h	11.204	long leg	$43.6M	$42.8M	10x