Funding you earn now, next payment 02:00 UTC−0.0287%/8h= −31.4% APRpaid last 24h −0.100%
Price spread now: Orderly against Hyperliquid−0.063%7-day average −0.018% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.060%−$6 on $10k
+Price spread, last 3 days (all we have)+0.019%+$2 · spread now −0.063%, 7d avg −0.018%
=Together, before fees−0.041%+ Points / potential airdropHyperliquid: Season 2 · farm board−$4 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Orderly is 0.045% cheaper against Hyperliquid than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.018%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.060% in total (about -3.1% 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 | 11.110 | 0.0387 | pay 0.0048% / 1h | 9m 42s | $43.1M | $44.7M | 10x |
| Short | Orderly PERP_AVAX_USDC | 11.103 | 0.0100 | get 0.0100% / 8h | 6h 09m | $195K | $313K | 20x |
Hyperliquid AVAX
Orderly PERP_AVAX_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly against Hyperliquid. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$60.17
- Price spread: −0.063% → −0.018%
- −$4.49
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$79.66
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 4 min ago; Orderly: no order-book sample. Net counts fees only.
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, 4 min ago | 0.45 bp | 6.8 bp −$7 | 13.6 bp −$136 | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | 11.070 | −0.360% | $17K | $151K | 12x | as long as short |
| Deribit AVAX_USDC-PERPETUAL | −0.0110% | 1h | 11.097 | −0.117% | $5.2M | $8.1M | 25x | as long as short |
| Nado AVAX-PERP | −0.0041% | 1h | 11.105 | −0.045% | $286K | $492K | 10x | as long as short |
| dYdX AVAX-USD | 0.0000% | 1h | 11.097 | −0.114% | $102K | $91K | 10x | as long as short |
| gTrade (Gains Network) AVAX/USD | L +0.0002% / S −0.0003% | 1h | 11.098 | −0.105% | $13K | — | 150x | as long as short |
| Gate AVAX_USDT | +0.0061% | 8h | 11.095 | −0.135% | $12.1M | $36.7M | 75x | as long as short |
| Lighter AVAX | +0.0096% | 1h | 11.092 | −0.158% | $1.2M | $3.0M | 10x | as long as short |
| Popdex AVAXUSDT | +0.0096% | 1h | 11.083 | −0.243% | $15K | $578K | 50x | as long as short |
| Paradex AVAX-USD-PERP | +0.0100% | 8h | 11.094 | −0.142% | $13K | $434 | 20x | as long as short |
| Aster AVAXUSDT | +0.0100% | 8h | 11.099 | −0.103% | $2.3M | $1.4M | 75x | as long as short |
Injective AVAX/USDC PERP
Deribit AVAX_USDC-PERPETUAL
Nado AVAX-PERP
dYdX AVAX-USD
gTrade (Gains Network) AVAX/USD
Gate AVAX_USDT
Lighter AVAX
Popdex AVAXUSDT
Paradex AVAX-USD-PERP
Aster AVAXUSDTShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica AVAX | +0.0100% | 1h | 11.097 | −0.119% | $295K | $107K | 10x | as long as short |
| Binance AVAXUSDT | +0.0100% | 8h | 11.092 | −0.162% | $118.3M | $450.3M | 75x | as long as short |
| Bybit AVAXUSDT | +0.0100% | 8h | 11.091 | −0.171% | $88.3M | $141.6M | 75x | as long as short |
| OKX AVAX-USDT-SWAP | +0.0100% | 8h | 11.091 | −0.171% | $20.0M | $121.5M | 50x | as long as short |
| MEXC AVAX_USDT | +0.0100% | 8h | 11.091 | −0.171% | $48.6M | $82.8M | 200x | as long as short |
| KuCoin AVAXUSDTM | +0.0100% | 8h | 11.100 | −0.090% | $15.5M | $22.3M | 75x | as long as short |
| Bitget AVAXUSDT | +0.0100% | 8h | 11.088 | −0.198% | $33.3M | $50.1M | 75x | as long as short |
| BingX AVAX-USDT | +0.0100% | 8h | 11.092 | −0.162% | — | $82.9M | — | as long as short |
| Backpack AVAX_USDC_PERP | +0.0100% | 1h | 11.095 | −0.135% | $355K | $511K | 15x | as long as short |
| Variational Omni AVAX | +0.0100% | 8h | 11.107 | −0.031% | $2.9M | $2.2M | — | as long as short |
| GRVT AVAX_USDT_Perp | +0.0100% | 8h | 11.120 | +0.091% | $355K | $790K | 10x | as long as short |
| ApeX Omni AVAXUSDT | +0.0100% | 1h | 11.124 | +0.126% | $179K | $679K | 50x | as long as short |
| Polymarket Perps AVAX-USD | +0.0100% | 1h | 11.104 | −0.054% | $130K | $361K | 10x | as long as short |
| Orderly PERP_AVAX_USDCshort | +0.0100% | 8h | 11.103 | −0.063% | $195K | $313K | 20x | |
| SunX AVAX-USDT | +0.0100% | 8h | 11.137 | +0.239% | $12K | $710K | 20x | as long as short |
| SoDEX AVAX-USD | +0.0100% | 1h | 11.098 | −0.108% | $19K | $72K | 10x | as long as short |
| HTX AVAX-USDT | +0.0100% | 8h | 11.107 | −0.032% | $361K | $854K | 75x | as long as short |
| Phemex AVAXUSDT | +0.0100% | 8h | 11.100 | −0.090% | $29.7M | $5.6M | 50x | as long as short |
| Extended AVAX-USD | +0.0104% | 1h | 11.087 | −0.204% | $671K | $1.7M | 25x | as long as short |
| Aevo AVAX-PERP | +0.0104% | 1h | 11.091 | −0.175% | $255K | — | 3x | as long as short |
| Reya AVAXRUSDPERP | +0.0244% | 1h | 11.100 | −0.093% | $1K | — | 20x | as long as short |
| Kraken Futures PF_AVAXUSD | +0.0255% | 1h | 11.099 | −0.100% | $4.3M | $11.7M | 50x | as long as short |
| Coinbase International AVAX-PERP-INTX | +0.0288% | 1h | 11.103 | −0.063% | $901K | $5.8M | 50x | as long as short |
| Hyperliquid AVAXlong | +0.0387% | 1h | 11.110 | long leg | $43.1M | $44.7M | 10x | |
| GMX AVAX/USD [AVAX-USDC] | L +0.0436% / S −0.0295% | 1h | 11.100 | −0.090% | $236K | — | 120x | as long as short |
Pacifica AVAX
Binance AVAXUSDT
Bybit AVAXUSDT
OKX AVAX-USDT-SWAP
MEXC AVAX_USDT
KuCoin AVAXUSDTM
Bitget AVAXUSDT
BingX AVAX-USDT
Backpack AVAX_USDC_PERP
Variational Omni AVAX
GRVT AVAX_USDT_Perp
ApeX Omni AVAXUSDT
Polymarket Perps AVAX-USD
SunX AVAX-USDT
SoDEX AVAX-USD
HTX AVAX-USDT
Phemex AVAXUSDT
Extended AVAX-USD
Aevo AVAX-PERP
Reya AVAXRUSDPERP
Kraken Futures PF_AVAXUSD
Coinbase International AVAX-PERP-INTX
GMX AVAX/USD [AVAX-USDC]