Funding arb · Price arb /

AVAX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0706%/8h= −77.3% APRpaid last 24h −0.064%

Price spread now: HTX against Hyperliquid−0.155%7-day average −0.076% · you buy dearer than you sell

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$98as in the Price arb table

costs, in and out, $10k−$900.902% of the position

Long on Hyperliquid Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.031%+$3 on $10k

Price spread, last 3 days (all we have)+0.012%+$1 · spread now −0.155%, 7d avg −0.076%

Together, before fees+0.043%+ Points / potential airdropHyperliquid: Season 2 · farm board+$4 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 HTX is 0.079% cheaper against Hyperliquid than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.076%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.031% in total (about 1.6% 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	11.268	0.0806	pay 0.0101% / 1h	54m 55s	$43.6M	$56.7M	10x
Short	HTX AVAX-USDT	11.251	0.0100	get 0.0100% / 8h	54m 55s	$364K	$1.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.155%Rate

Funding earned: −$148.21
Price spread: −0.155% → −0.076%: −$7.94
Slippage, 4 orders: −$69.19
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee HTX: 6 bp × 2 orders: −$12
Net: −$246.34
Costs to cover: 0.902%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 9 min ago; HTX: 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	5.8 bp −$6	13.2 bp −$132	doesn't fit	doesn't fit
Sell HTX live order book, 4 min ago	27.27 bp	33.5 bp −$33	80.2 bp −$802	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	11.200	−0.603%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0106%	1h	11.247	−0.186%	$5.3M	$9.0M	25x	as long as short
Nado AVAX-PERP	−0.0092%	1h	11.250	−0.155%	$297K	$892K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.244	−0.211%	$103K	$111K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.250	−0.160%	$13K	—	150x	as long as short
Variational Omni AVAX	+0.0042%	8h	11.222	−0.408%	$3.0M	$2.4M	—	as long as short
Lighter AVAX	+0.0096%	1h	11.249	−0.169%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.253	−0.133%	$18K	$687K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.249	−0.169%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.251	−0.147%	$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	11.248	−0.178%	$299K	$120K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.253	−0.132%	$120.3M	$521.6M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.251	−0.151%	$89.6M	$156.7M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.249	−0.169%	$20.3M	$145.8M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.253	−0.133%	$12.5M	$39.8M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.252	−0.142%	$51.3M	$93.0M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.257	−0.098%	$15.8M	$24.4M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.253	−0.133%	$34.3M	$59.6M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.252	−0.142%	—	$87.8M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.246	−0.195%	$360K	$568K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.225	−0.380%	$358K	$877K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.225	−0.382%	$180K	$686K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.256	−0.106%	$134K	$459K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.256	−0.106%	$205K	$303K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.279	+0.095%	$12K	$733K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.248	−0.177%	$19K	$72K	10x	as long as short
HTX AVAX-USDTshort	+0.0100%	8h	11.251	−0.155%	$364K	$1.0M	75x
Phemex AVAXUSDT	+0.0100%	8h	11.248	−0.177%	$30.2M	$5.0M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.250	−0.157%	$669K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.251	−0.148%	$258K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.242	−0.231%	$5.0M	$7.9M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.250	−0.164%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0270%	1h	11.251	−0.152%	$4.6M	$13.3M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0280%	1h	11.253	−0.133%	$918K	$8.1M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0415% / S −0.0266%	1h	11.246	−0.198%	$237K	—	120x	as long as short
Hyperliquid AVAXlong	+0.0806%	1h	11.268	long leg	$43.6M	$56.7M	10x