Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0527%/8h= −57.8% APRpaid last 24h −0.084%

Price spread now: GRVT against Hyperliquid−0.440%7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$290.293% of the position

Long on Hyperliquid Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 7 days+0.472%+$47 · spread now −0.440%, 7d avg +0.001%

Together, before fees+0.469%+ Points / potential airdropHyperliquid: Season 2 · GRVT: Active · farm board+$47 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and GRVT is 0.441% cheaper against Hyperliquid than usual: you would sell low and buy high (−$44 if the spread goes back to its 7-day average of +0.001%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.003% in total (about -0.2% 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	11.297	0.0627	pay 0.0078% / 1h	21m 02s	$43.7M	$56.8M	10x
Short	GRVT AVAX_USDT_Perp	11.247	0.0100	get 0.0100% / 8h	1h 21m	$359K	$877K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.440%Rate

Funding earned: −$110.77
Price spread: −0.440% → +0.001%: −$44.12
Slippage, 4 orders: −$11.27
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$184.16
Costs to cover: 0.293%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 12 min ago; GRVT: live order book, 62 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	0.44 bp	5.7 bp −$6	12.5 bp −$125	doesn't fit	doesn't fit
Sell GRVT live order book, 62 min ago	0.44 bp	10.1 bp −$10	22.1 bp −$221	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	−0.0570%	1h	11.250	−0.416%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0104%	1h	11.285	−0.106%	$5.4M	$9.2M	25x	as long as short
Nado AVAX-PERP	−0.0038%	1h	11.280	−0.155%	$298K	$895K	10x	as long as short
Variational Omni AVAX	−0.0005%	8h	11.249	−0.424%	$3.0M	$2.4M	—	as long as short
dYdX AVAX-USD	0.0000%	1h	11.301	+0.038%	$104K	$112K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0004%	1h	11.284	−0.115%	$16K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.289	−0.074%	$1.3M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.279	−0.159%	$17K	$689K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0099%	8h	11.286	−0.098%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.285	−0.105%	$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	11.299	+0.016%	$300K	$120K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.279	−0.156%	$120.6M	$525.9M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.279	−0.159%	$89.3M	$157.8M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.278	−0.168%	$20.3M	$146.8M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.287	−0.089%	$12.4M	$40.5M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.279	−0.159%	$52.2M	$100.1M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.285	−0.106%	$16.1M	$24.7M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.279	−0.159%	$34.2M	$60.1M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.279	−0.159%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.281	−0.142%	$361K	$570K	15x	as long as short
GRVT AVAX_USDT_Perpshort	+0.0100%	8h	11.247	−0.440%	$359K	$877K	10x
ApeX Omni AVAXUSDT	+0.0100%	1h	11.248	−0.434%	$181K	$686K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.280	−0.150%	$134K	$459K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.293	−0.035%	$203K	$301K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.309	+0.104%	$12K	$732K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.287	−0.089%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.286	−0.102%	$365K	$1.1M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.282	−0.133%	$30.3M	$5.0M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.276	−0.183%	$672K	$2.2M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.284	−0.120%	$259K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0192%	1h	11.261	−0.319%	$910K	$8.3M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.288	−0.080%	$5.1M	$8.0M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.278	−0.167%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0406% / S −0.0252%	1h	11.284	−0.119%	$238K	—	120x	as long as short
Kraken Futures PF_AVAXUSD	+0.0626%	1h	11.292	−0.043%	$4.6M	$13.5M	50x	as long as short
Hyperliquid AVAXlong	+0.0627%	1h	11.297	long leg	$43.7M	$56.8M	10x