Funding you earn now, next payment 00:00 UTC+0.2260%/8h= +247.5% APRnext payment +$2.83 per $10,000 · paid last 24h +0.232%
Price spread now: Hyperliquid against Injective+0.491%53s7-day average +0.256% · you sell dearer than you buy
Net, funding: paid 7d − costs−$74as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1091.094% of the position
Funding, last 7 days+0.356%+$36 on $10k
+Price spread, last 3 days (all we have)−1.379%−$138 · spread now +0.491%, 7d avg +0.256%
=Together, before fees−1.024%+ Points / potential airdropHyperliquid: Season 2 · farm board−$102 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$68 a day on $10k at the current rate, and Hyperliquid is 0.235% dearer against Injective than usual: you sell high and buy low: +$23 more if the spread goes back to its 7-day average of +0.256%. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.356% in total (about 18.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.83 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 | Injective AVAX/USDC PERP | 11.190 | −0.1451 | get 0.0181% / 1h | 34m 22s | $17K | $151K | 12x |
| Short | Hyperliquid AVAX | 11.245 | 0.0810 | get 0.0101% / 1h | 34m 22s | $43.7M | $55.0M | 10x |
Injective AVAX/USDC PERP
Hyperliquid AVAXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Injective. 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
- $474.69
- Price spread: +0.491% → +0.256%
- $23.49
- Slippage, 4 orders
- −$100.43
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $388.73
- Costs to cover
- 1.094%
- Break-even
- 1.3 days
Slippage from Injective: live order book, 44 min ago; Hyperliquid: live order book, 9 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 Injective live order book, 44 min ago | 40.02 bp | 57.7 bp −$58 | doesn't fit | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 9 min ago | 0.44 bp | 5.8 bp −$6 | 9.8 bp −$98 | 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 PERPlong | −0.1451% | 1h | 11.190 | long leg | $17K | $151K | 12x | |
| Deribit AVAX_USDC-PERPETUAL | −0.0106% | 1h | 11.227 | +0.331% | $5.3M | $8.9M | 25x | as long as short |
| Nado AVAX-PERP | −0.0091% | 1h | 11.230 | +0.362% | $296K | $883K | 10x | as long as short |
| dYdX AVAX-USD | 0.0000% | 1h | 11.230 | +0.355% | $103K | $111K | 10x | as long as short |
| gTrade (Gains Network) AVAX/USD | L +0.0002% / S −0.0003% | 1h | 11.229 | +0.352% | $13K | — | 150x | as long as short |
| Variational Omni AVAX | +0.0072% | 8h | 11.226 | +0.324% | $3.0M | $2.4M | — | as long as short |
| Lighter AVAX | +0.0096% | 1h | 11.232 | +0.372% | $1.2M | $3.3M | 10x | as long as short |
| Popdex AVAXUSDT | +0.0096% | 1h | 11.228 | +0.340% | $19K | $673K | 50x | as long as short |
| Paradex AVAX-USD-PERP | +0.0100% | 8h | 11.227 | +0.335% | $13K | $766 | 20x | as long as short |
| Aster AVAXUSDT | +0.0100% | 8h | 11.230 | +0.356% | $2.3M | $1.8M | 75x | as long as short |
Deribit AVAX_USDC-PERPETUAL
Nado AVAX-PERP
dYdX AVAX-USD
gTrade (Gains Network) AVAX/USD
Variational Omni AVAX
Lighter AVAX
Popdex AVAXUSDT
Paradex AVAX-USD-PERP
Aster AVAXUSDTShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica AVAX | +0.0100% | 1h | 11.234 | +0.397% | $298K | $118K | 10x | as long as short |
| Binance AVAXUSDT | +0.0100% | 8h | 11.227 | +0.331% | $120.1M | $514.1M | 75x | as long as short |
| Bybit AVAXUSDT | +0.0100% | 8h | 11.227 | +0.331% | $89.3M | $155.2M | 75x | as long as short |
| OKX AVAX-USDT-SWAP | +0.0100% | 8h | 11.226 | +0.322% | $20.2M | $144.0M | 50x | as long as short |
| Gate AVAX_USDT | +0.0100% | 8h | 11.226 | +0.322% | $12.4M | $40.3M | 75x | as long as short |
| MEXC AVAX_USDT | +0.0100% | 8h | 11.227 | +0.331% | $51.5M | $93.2M | 200x | as long as short |
| KuCoin AVAXUSDTM | +0.0100% | 8h | 11.235 | +0.402% | $15.8M | $24.2M | 75x | as long as short |
| Bitget AVAXUSDT | +0.0100% | 8h | 11.230 | +0.357% | $34.2M | $58.3M | 75x | as long as short |
| BingX AVAX-USDC | +0.0100% | 8h | 11.227 | +0.331% | — | $6.5M | — | as long as short |
| Backpack AVAX_USDC_PERP | +0.0100% | 1h | 11.229 | +0.349% | $359K | $563K | 15x | as long as short |
| GRVT AVAX_USDT_Perp | +0.0100% | 8h | 11.232 | +0.375% | $352K | $862K | 10x | as long as short |
| ApeX Omni AVAXUSDT | +0.0100% | 1h | 11.236 | +0.411% | $180K | $685K | 50x | as long as short |
| Polymarket Perps AVAX-USD | +0.0100% | 1h | 11.228 | +0.340% | $132K | $440K | 10x | as long as short |
| Orderly PERP_AVAX_USDC | +0.0100% | 8h | 11.237 | +0.420% | $204K | $303K | 20x | as long as short |
| SunX AVAX-USDT | +0.0100% | 8h | 11.262 | +0.643% | $12K | $733K | 20x | as long as short |
| SoDEX AVAX-USD | +0.0100% | 1h | 11.226 | +0.322% | $19K | $72K | 10x | as long as short |
| HTX AVAX-USDT | +0.0100% | 8h | 11.227 | +0.335% | $363K | $1.0M | 75x | as long as short |
| Phemex AVAXUSDT | +0.0100% | 8h | 11.226 | +0.322% | $30.2M | $4.9M | 50x | as long as short |
| Extended AVAX-USD | +0.0104% | 1h | 11.227 | +0.327% | $672K | $2.1M | 25x | as long as short |
| Aevo AVAX-PERP | +0.0104% | 1h | 11.223 | +0.296% | $258K | — | 3x | as long as short |
| BloFin AVAX-USDT | +0.0220% | 8h | 11.222 | +0.286% | $5.0M | $7.5M | 100x | as long as short |
| Reya AVAXRUSDPERP | +0.0244% | 1h | 11.224 | +0.307% | $1K | — | 20x | as long as short |
| Kraken Futures PF_AVAXUSD | +0.0270% | 1h | 11.230 | +0.357% | $4.6M | $13.1M | 50x | as long as short |
| Coinbase International AVAX-PERP-INTX | +0.0280% | 1h | 11.245 | +0.492% | $914K | $7.9M | 50x | as long as short |
| GMX AVAX/USD [AVAX-USDC] | L +0.0423% / S −0.0277% | 1h | 11.228 | +0.341% | $237K | — | 120x | as long as short |
| Hyperliquid AVAXshort | +0.0810% | 1h | 11.245 | +0.491% | $43.7M | $55.0M | 10x |
Pacifica AVAX
Binance AVAXUSDT
Bybit AVAXUSDT
OKX AVAX-USDT-SWAP
Gate AVAX_USDT
MEXC AVAX_USDT
KuCoin AVAXUSDTM
Bitget AVAXUSDT
BingX AVAX-USDC
Backpack AVAX_USDC_PERP
GRVT AVAX_USDT_Perp
ApeX Omni AVAXUSDT
Polymarket Perps AVAX-USD
Orderly PERP_AVAX_USDC
SunX AVAX-USDT
SoDEX AVAX-USD
HTX AVAX-USDT
Phemex AVAXUSDT
Extended AVAX-USD
Aevo AVAX-PERP
BloFin AVAX-USDT
Reya AVAXRUSDPERP
Kraken Futures PF_AVAXUSD
Coinbase International AVAX-PERP-INTX
GMX AVAX/USD [AVAX-USDC]