AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0707%/8h= −77.4% APRnext payment −$0.88 per $10,000 · paid last 24h −0.117%

Price spread now: Extended against Hyperliquid−0.208%7-day average −0.122% · 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−$33as in the Price arb table

costs, in and out, $10k−$240.241% of the position

Long on Hyperliquid Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.113%−$11 on $10k

Price spread, last 4 days (all we have)+0.106%+$11 · spread now −0.208%, 7d avg −0.122%

Together, before fees−0.007%+ Points / potential airdropHyperliquid: Season 2 · Extended: Active · farm board−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$21 a day on $10k at the current rate, and Extended is 0.086% cheaper against Hyperliquid than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.122%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.113% in total (about -5.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.88 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	11.250	0.0811	pay 0.0101% / 1h	34m 34s	$43.7M	$55.0M	10x
Short	Extended AVAX-USD	11.227	0.0104	get 0.0013% / 1h	34m 34s	$672K	$2.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.208%Rate

Funding earned: −$148.49
Price spread: −0.208% → −0.122%: −$8.61
Slippage, 4 orders: −$10.08
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$181.18
Costs to cover: 0.241%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 9 min ago; Extended: live order book, 4 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, 9 min ago	0.44 bp	5.9 bp −$6	14.0 bp −$140	doesn't fit	doesn't fit
Sell Extended live order book, 4 min ago	1.34 bp	6.1 bp −$6	7.9 bp −$79	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	−0.1451%	1h	11.190	−0.533%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0195%	1h	11.223	−0.240%	$5.3M	$8.9M	25x	as long as short
Nado AVAX-PERP	−0.0091%	1h	11.230	−0.173%	$296K	$883K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.230	−0.180%	$103K	$111K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.227	−0.202%	$13K	—	150x	as long as short
Variational Omni AVAX	+0.0072%	8h	11.226	−0.211%	$3.0M	$2.4M	—	as long as short
Lighter AVAX	+0.0096%	1h	11.232	−0.164%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.228	−0.196%	$19K	$673K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.227	−0.200%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.233	−0.148%	$2.3M	$1.8M	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	11.234	−0.139%	$298K	$118K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.228	−0.199%	$120.1M	$514.1M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.226	−0.213%	$89.3M	$155.2M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.225	−0.222%	$20.2M	$144.0M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.231	−0.169%	$12.5M	$40.3M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.230	−0.178%	$51.5M	$93.2M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.237	−0.116%	$15.8M	$24.2M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.230	−0.178%	$34.2M	$58.3M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.230	−0.178%	—	$86.9M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.229	−0.187%	$359K	$563K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.232	−0.160%	$352K	$862K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.236	−0.124%	$180K	$685K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.228	−0.196%	$132K	$440K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.234	−0.142%	$204K	$303K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.257	+0.061%	$12K	$733K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.226	−0.213%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.227	−0.200%	$363K	$1.0M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.226	−0.213%	$30.2M	$4.9M	50x	as long as short
Extended AVAX-USDshort	+0.0104%	1h	11.227	−0.208%	$672K	$2.1M	25x
Aevo AVAX-PERP	+0.0104%	1h	11.221	−0.260%	$258K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.222	−0.249%	$5.0M	$7.5M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.224	−0.228%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0270%	1h	11.230	−0.178%	$4.6M	$13.1M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0280%	1h	11.245	−0.044%	$914K	$7.9M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0422% / S −0.0277%	1h	11.227	−0.209%	$237K	—	120x	as long as short
Hyperliquid AVAXlong	+0.0811%	1h	11.250	long leg	$43.7M	$55.0M	10x