AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0683%/8h= −74.7% APRnext payment −$0.85 per $10,000 · paid last 24h −0.071%

Price spread now: Popdex against Hyperliquid−0.107%7-day average −0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$210.212% of the position

Long on Hyperliquid Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.080%−$8 on $10k

Price spread, last 4 days (all we have)+0.094%+$9 · spread now −0.107%, 7d avg −0.044%

Together, before fees+0.013%+ 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 Popdex is 0.063% cheaper against Hyperliquid than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.044%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.080% in total (about -8.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.85 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	11.244	0.0779	pay 0.0097% / 1h	8m 27s	$43.6M	$54.8M	10x
Short	Popdex AVAXUSDT	11.232	0.0096	get 0.0012% / 1h	8m 27s	$18K	$663K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now −0.107%Rate

Funding earned: −$143.34
Price spread: −0.107% → −0.044%: −$6.27
Slippage, 4 orders: −$5.84
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$170.85
Costs to cover: 0.212%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 5 min ago; Popdex: 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, 5 min ago	0.89 bp	5.6 bp −$6	13.6 bp −$136	doesn't fit	doesn't fit
Sell Popdex live order book, 6 min ago	0.45 bp	4.5 bp −$5	9.1 bp −$91	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	−0.569%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0098%	1h	11.228	−0.138%	$296K	$877K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0017%	1h	11.228	−0.142%	$5.3M	$8.9M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.229	−0.136%	$103K	$106K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.231	−0.117%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.229	−0.133%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDTshort	+0.0096%	1h	11.232	−0.107%	$18K	$663K	50x
Variational Omni AVAX	+0.0099%	8h	11.203	−0.366%	$3.0M	$2.4M	—	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.229	−0.138%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.230	−0.124%	$2.3M	$1.7M	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	11.232	−0.106%	$298K	$118K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.233	−0.096%	$120.3M	$510.6M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.232	−0.107%	$89.6M	$154.8M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.231	−0.116%	$20.3M	$143.3M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.228	−0.142%	$12.5M	$40.4M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.235	−0.080%	$50.1M	$93.6M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.233	−0.098%	$15.6M	$24.1M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.233	−0.098%	$34.2M	$57.7M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.229	−0.133%	—	$86.6M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.229	−0.133%	$359K	$563K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.213	−0.276%	$351K	$862K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.226	−0.160%	$180K	$686K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.235	−0.080%	$132K	$440K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.238	−0.053%	$204K	$303K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.260	+0.141%	$12K	$735K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.225	−0.169%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.222	−0.200%	$363K	$1.0M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.227	−0.151%	$30.2M	$4.9M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.226	−0.157%	$669K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.226	−0.165%	$258K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.218	−0.231%	$5.0M	$7.1M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.230	−0.120%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0270%	1h	11.230	−0.122%	$4.6M	$13.0M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0280%	1h	11.217	−0.240%	$913K	$7.7M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0431% / S −0.0253%	1h	11.232	−0.107%	$250K	—	120x	as long as short
Hyperliquid AVAXlong	+0.0779%	1h	11.244	long leg	$43.6M	$54.8M	10x