AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.1854%/8h= −203.1% APRnext payment −$2.32 per $10,000 · paid last 24h −0.261%

Price spread now: Injective against Hyperliquid−0.547%53s7-day average −0.264% · you buy dearer than you sell

Net, funding: paid 7d − costs−$143as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1031.027% of the position

Long on Hyperliquid Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.408%−$41 on $10k

Price spread, last 3 days (all we have)+1.301%+$130 · spread now −0.547%, 7d avg −0.264%

Together, before fees+0.894%+ Points / potential airdropHyperliquid: Season 2 · farm board+$89 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$56 a day on $10k at the current rate, and Injective is 0.283% cheaper against Hyperliquid than usual: you would sell low and buy high (−$28 if the spread goes back to its 7-day average of −0.264%). Swap the legs. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.408% in total (about -21.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.32 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	11.151	0.0432	pay 0.0054% / 1h	32m 25s	$43.5M	$47.0M	10x
Short	Injective AVAX/USDC PERP	11.090	−0.1423	pay 0.0178% / 1h	32m 25s	$17K	$151K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.547%Rate

Funding earned: −$389.43
Price spread: −0.547% → −0.264%: −$28.31
Slippage, 4 orders: −$93.68
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$520.44
Costs to cover: 1.027%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 11 min ago; Injective: live order book, 36 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, 11 min ago	0.90 bp	7.4 bp −$7	14.7 bp −$147	doesn't fit	doesn't fit
Sell Injective live order book, 36 min ago	35.75 bp	35.8 bp −$36	doesn't fit	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 PERPshort	−0.1423%	1h	11.090	−0.547%	$17K	$151K	12x
Nado AVAX-PERP	−0.0046%	1h	11.133	−0.161%	$286K	$517K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0020%	1h	11.127	−0.215%	$5.2M	$8.3M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.128	−0.205%	$102K	$96K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.132	−0.169%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0065%	8h	11.133	−0.161%	$12.1M	$36.6M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.128	−0.208%	$1.2M	$3.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.133	−0.161%	$15K	$595K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.126	−0.227%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.130	−0.190%	$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	11.130	−0.188%	$296K	$107K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.134	−0.149%	$118.6M	$468.2M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.133	−0.161%	$88.7M	$145.2M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.132	−0.170%	$20.0M	$125.9M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.135	−0.143%	$48.8M	$82.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.137	−0.126%	$15.6M	$22.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.127	−0.215%	$33.4M	$51.9M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.135	−0.143%	—	$83.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.113	−0.341%	$355K	$547K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.119	−0.289%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.116	−0.313%	$350K	$808K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.118	−0.296%	$179K	$681K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.140	−0.099%	$131K	$363K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.135	−0.143%	$196K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.157	+0.050%	$12K	$722K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.125	−0.233%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.115	−0.325%	$361K	$938K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.115	−0.323%	$29.7M	$5.6M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.126	−0.222%	$671K	$2.0M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.130	−0.188%	$256K	—	3x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.135	−0.140%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0254%	1h	11.128	−0.204%	$4.3M	$12.1M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0288%	1h	11.134	−0.152%	$905K	$6.0M	50x	as long as short
Hyperliquid AVAXlong	+0.0432%	1h	11.151	long leg	$43.5M	$47.0M	10x
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.132	−0.166%	$236K	—	120x	as long as short