Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0664%/8h= −72.7% APRpaid last 24h −0.074%

Price spread now: KuCoin against Hyperliquid−0.098%7-day average −0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$420.425% of the position

Long on Hyperliquid Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.089%−$9 on $10k

Price spread, last 7 days+0.078%+$8 · spread now −0.098%, 7d avg −0.030%

Together, before fees−0.011%+ Points / potential airdropHyperliquid: Season 2 · farm board−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$20 a day on $10k at the current rate, and KuCoin is 0.067% cheaper against Hyperliquid than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.030%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.089% in total (about -4.6% 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	11.253	0.0764	pay 0.0096% / 1h	4m 20s	$43.9M	$55.0M	10x
Short	KuCoin AVAXUSDTM	11.242	0.0100	get 0.0100% / 8h	4m 20s	$15.6M	$24.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.098%Rate

Funding earned: −$139.47
Price spread: −0.098% → −0.030%: −$6.75
Slippage, 4 orders: −$21.47
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$188.69
Costs to cover: 0.425%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 9 min ago; KuCoin: 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, 9 min ago	0.89 bp	5.6 bp −$6	13.6 bp −$136	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	0.44 bp	15.5 bp −$15	31.4 bp −$314	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	11.180	−0.649%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0097%	1h	11.236	−0.151%	$296K	$877K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0017%	1h	11.229	−0.213%	$5.3M	$8.9M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.238	−0.135%	$103K	$106K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.240	−0.116%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.235	−0.162%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.237	−0.142%	$18K	$663K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.235	−0.160%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.237	−0.138%	$2.3M	$1.7M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.238	−0.138%	$298K	$118K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AVAXUSDT	+0.0100%	8h	11.237	−0.142%	$120.4M	$510.6M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.239	−0.124%	$89.6M	$154.8M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.236	−0.151%	$20.3M	$143.2M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.237	−0.142%	$12.5M	$40.4M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.236	−0.151%	$50.0M	$93.7M	200x	as long as short
KuCoin AVAXUSDTMshort	+0.0100%	8h	11.242	−0.098%	$15.6M	$24.1M	75x
Bitget AVAXUSDT	+0.0100%	8h	11.239	−0.124%	$34.3M	$57.7M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.236	−0.151%	—	$86.6M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.227	−0.231%	$359K	$564K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.226	−0.240%	$3.0M	$2.4M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.224	−0.255%	$351K	$862K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.238	−0.133%	$180K	$686K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.240	−0.116%	$132K	$440K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.245	−0.071%	$204K	$303K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.261	+0.070%	$12K	$736K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.230	−0.204%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.226	−0.244%	$363K	$1.0M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.225	−0.249%	$30.2M	$4.9M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.233	−0.179%	$669K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.234	−0.166%	$258K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.225	−0.249%	$5.0M	$7.1M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.235	−0.160%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0270%	1h	11.235	−0.159%	$4.6M	$13.0M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0280%	1h	11.259	+0.053%	$917K	$7.7M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0432% / S −0.0255%	1h	11.227	−0.228%	$250K	—	120x	as long as short
Hyperliquid AVAXlong	+0.0764%	1h	11.253	long leg	$43.9M	$55.0M	10x