AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0586%/8h= −64.1% APRnext payment −$0.73 per $10,000 · paid last 24h −0.225%

Price spread now: Deribit against Hyperliquid−0.135%7-day average −0.083% · you buy dearer than you sell

Net, funding: paid 7d − costs−$89as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$250.249% of the position

Long on Hyperliquid Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.638%−$64 on $10k

Price spread, last 3 days (all we have)−0.014%−$1 · spread now −0.135%, 7d avg −0.083%

Together, before fees−0.652%+ Points / potential airdropHyperliquid: Season 2 · farm board−$65 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and Deribit is 0.052% cheaper against Hyperliquid than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.083%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid AVAX	11.098	0.0385	pay 0.0048% / 1h	8m 52s	$43.1M	$44.7M	10x
Short	Deribit AVAX_USDC-PERPETUAL	11.083	−0.0201	pay 0.0025% / 1h	8m 52s	$5.2M	$8.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.135%Rate

Funding earned: −$122.97
Price spread: −0.135% → −0.083%: −$5.2
Slippage, 4 orders: −$8.86
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$153.03
Costs to cover: 0.249%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 5 min ago; Deribit: 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	6.8 bp −$7	13.6 bp −$136	doesn't fit	doesn't fit
Sell Deribit live order book, 5 min ago	1.35 bp	6.1 bp −$6	18.8 bp −$188	doesn't fit	doesn't fit

AVAX on 35 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	−0.1423%	1h	11.070	−0.252%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUALshort	−0.0201%	1h	11.083	−0.135%	$5.2M	$8.1M	25x
Nado AVAX-PERP	−0.0040%	1h	11.090	−0.072%	$285K	$492K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.097	−0.006%	$102K	$91K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.085	−0.115%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0061%	8h	11.083	−0.135%	$12.1M	$36.7M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.084	−0.126%	$1.2M	$3.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.083	−0.135%	$15K	$578K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.094	−0.034%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.088	−0.087%	$2.3M	$1.4M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AVAX	+0.0100%	1h	11.097	−0.011%	$295K	$107K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.086	−0.111%	$118.3M	$450.1M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.084	−0.126%	$88.2M	$141.5M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.086	−0.108%	$20.0M	$121.6M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.084	−0.126%	$48.5M	$82.8M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.087	−0.099%	$15.5M	$22.3M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.079	−0.171%	$33.3M	$50.1M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.088	−0.090%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.084	−0.126%	$354K	$511K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.107	+0.077%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.104	+0.055%	$354K	$790K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.108	+0.090%	$179K	$678K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.085	−0.117%	$130K	$363K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.090	−0.072%	$195K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.121	+0.204%	$12K	$710K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.085	−0.117%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.092	−0.050%	$360K	$854K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.086	−0.108%	$29.6M	$5.6M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.080	−0.165%	$671K	$1.7M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.078	−0.178%	$254K	—	3x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.082	−0.143%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.089	−0.086%	$4.3M	$11.7M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0288%	1h	11.097	−0.009%	$901K	$5.7M	50x	as long as short
Hyperliquid AVAXlong	+0.0385%	1h	11.098	long leg	$43.1M	$44.7M	10x
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.085	−0.117%	$235K	—	120x	as long as short