Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0492%/8h= −53.9% APRpaid last 24h −0.081%

Price spread now: SunX against Hyperliquid+0.029%7-day average +0.206% · you sell dearer than you buy

Net, funding: paid 7d − costs−$169as in the Funding arb table

Net, price: spread back to 7d avg − costs−$187as in the Price arb table

costs, in and out, $10k−$1691.691% of the position

Long on Hyperliquid Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.008%−$1 · spread now +0.029%, 7d avg +0.206%

Together, before fees−0.010%+ Points / potential airdropHyperliquid: Season 2 · farm board−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and SunX is 0.178% cheaper against Hyperliquid than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of +0.206%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.003% in total (about -0.1% 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	11.172	0.0592	pay 0.0074% / 1h	30m 01s	$43.3M	$42.3M	10x
Short	SunX AVAX-USDT	11.175	0.0100	get 0.0100% / 8h	4h 30m	$12K	$704K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.029%Rate

Funding earned: −$103.42
Price spread: +0.029% → +0.206%: −$17.76
Slippage, 4 orders: −$152.07
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee SunX: 4 bp × 2 orders: −$8
Net: −$290.25
Costs to cover: 1.691%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 3 min ago; SunX: live order book, 62 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, 3 min ago	0.45 bp	5.8 bp −$6	14.1 bp −$141	doesn't fit	doesn't fit
Sell SunX live order book, 62 min ago	41.87 bp	101.7 bp −$102	doesn't fit	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	−0.1423%	1h	11.090	−0.737%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0034%	1h	11.146	−0.231%	$287K	$368K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.149	−0.204%	$98K	$97K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	11.152	−0.182%	$5.2M	$7.9M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.149	−0.208%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.153	−0.175%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.145	−0.244%	$15K	$563K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.144	−0.249%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.153	−0.175%	$2.3M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.149	−0.213%	$291K	$114K	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	11.155	−0.152%	$118.4M	$426.5M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.153	−0.173%	$88.5M	$137.5M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.155	−0.155%	$20.4M	$115.6M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.151	−0.191%	$12.2M	$34.2M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.153	−0.173%	$48.0M	$77.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.162	−0.092%	$15.7M	$21.7M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.155	−0.155%	$33.5M	$48.0M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.158	−0.128%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.160	−0.110%	$337K	$521K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.137	−0.320%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.108	−0.577%	$352K	$853K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.143	−0.262%	$179K	$672K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.150	−0.200%	$131K	$337K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.156	−0.146%	$196K	$310K	20x	as long as short
SunX AVAX-USDTshort	+0.0100%	8h	11.175	+0.029%	$12K	$704K	20x
SoDEX AVAX-USD	+0.0100%	1h	11.154	−0.164%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.146	−0.231%	$364K	$819K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.155	−0.155%	$29.8M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.148	−0.216%	$685K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.146	−0.240%	$256K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0211%	1h	11.156	−0.146%	$4.3M	$11.2M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.145	−0.244%	$5.0M	$5.4M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.158	−0.128%	$892K	$5.2M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.146	−0.233%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.149	−0.213%	$236K	—	120x	as long as short
Hyperliquid AVAXlong	+0.0592%	1h	11.172	long leg	$43.3M	$42.3M	10x