AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0329%/8h= −36.0% APRnext payment −$0.41 per $10,000 · paid last 24h −0.083%

Price spread now: Lighter against Hyperliquid−0.093%7-day average −0.083% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$210.210% of the position

Long on Hyperliquid Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.178%−$18 on $10k

Price spread, last 4 days (all we have)+0.073%+$7 · spread now −0.093%, 7d avg −0.083%

Together, before fees−0.104%+ Points / potential airdropHyperliquid: Season 2 · Lighter: Season 3 · farm board−$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.083%, so right now this pair is about funding alone: −$10 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.178% in total (about -9.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.41 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	11.133	0.0425	pay 0.0053% / 1h	31m 27s	$43.4M	$47.0M	10x
Short	Lighter AVAX	11.122	0.0096	get 0.0012% / 1h	31m 27s	$1.2M	$3.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.093%Rate

Funding earned: −$69
Price spread: −0.093% → −0.083%: −$1.07
Slippage, 4 orders: −$11.98
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: −$91.05
Costs to cover: 0.210%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 12 min ago; Lighter: live order book, 6 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	0.90 bp	7.4 bp −$7	14.7 bp −$147	doesn't fit	doesn't fit
Sell Lighter live order book, 6 min ago	2.25 bp	2.3 bp −$2	10.3 bp −$103	86.4 bp −$8,640	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 PERP	−0.1423%	1h	11.090	−0.382%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0046%	1h	11.122	−0.094%	$286K	$517K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0020%	1h	11.127	−0.049%	$5.2M	$8.3M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.127	−0.046%	$102K	$96K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.119	−0.120%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0056%	8h	11.117	−0.139%	$12.1M	$36.6M	75x	as long as short
Lighter AVAXshort	+0.0096%	1h	11.122	−0.093%	$1.2M	$3.0M	10x
Popdex AVAXUSDT	+0.0096%	1h	11.117	−0.139%	$15K	$595K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.124	−0.079%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.122	−0.096%	$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	11.127	−0.051%	$295K	$107K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.118	−0.127%	$118.4M	$467.0M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.118	−0.130%	$88.5M	$145.1M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.118	−0.130%	$20.0M	$125.4M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.120	−0.112%	$48.6M	$82.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.124	−0.076%	$15.6M	$22.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.115	−0.157%	$33.4M	$51.8M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.117	−0.139%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.125	−0.067%	$356K	$546K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.119	−0.123%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.117	−0.139%	$350K	$800K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.118	−0.130%	$179K	$681K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.122	−0.094%	$131K	$363K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.123	−0.085%	$195K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.157	+0.216%	$12K	$722K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.125	−0.067%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.129	−0.036%	$362K	$938K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.127	−0.049%	$29.7M	$5.6M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.116	−0.152%	$671K	$2.0M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.130	−0.022%	$256K	—	3x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.118	−0.132%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0254%	1h	11.128	−0.038%	$4.3M	$12.1M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0288%	1h	11.134	+0.013%	$905K	$6.0M	50x	as long as short
Hyperliquid AVAXlong	+0.0425%	1h	11.133	long leg	$43.4M	$47.0M	10x
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.132	0.000%	$236K	—	120x	as long as short