AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0666%/8h= +72.9% APRnext payment +$0.83 per $10,000 · paid last 24h +0.160%

Price spread now: Lighter against Injective+0.128%7-day average +0.164% · you sell dearer than you buy

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs−$108as in the Price arb table

costs, in and out, $10k−$1041.044% of the position

Long on Injective Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.180%+$18 on $10k

Price spread, last 3 days (all we have)−0.919%−$92 · spread now +0.128%, 7d avg +0.164%

Together, before fees−0.739%+ Points / potential airdropLighter: Season 3 · farm board−$74 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.036% cheaper against Injective than usual: you would sell low and buy high (spread +0.128% now, against its 7-day average of +0.164%). If the spread goes back, that is −$4 on $10k: about 4 hours of funding at the current rate (+$20 a day). At the pace of the last 7 days (+0.180% in total) that is about 34 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.180% in total (about 9.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.83 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	11.210	−0.0570	get 0.0071% / 1h	10m 21s	$17K	$151K	12x
Short	Lighter AVAX	11.224	0.0096	get 0.0012% / 1h	10m 21s	$1.2M	$3.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Injective. 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 InjectivebpFee LighterbpOrdersPrice spread, now +0.128%Rate

Funding earned: $139.78
Price spread: +0.128% → +0.164%: −$3.64
Slippage, 4 orders: −$104.33
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Lighter: 0 bp × 2 orders: $0
Net: $31.78
Costs to cover: 1.044%
Break-even: 5.4 days

Slippage from Injective: live order book, 8 min ago; Lighter: live order book, 7 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, 8 min ago	40.02 bp	57.7 bp −$58	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 7 min ago	3.11 bp	3.5 bp −$3	10.8 bp −$108	79.3 bp −$7,929	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	−0.0570%	1h	11.210	long leg	$17K	$151K	12x
Deribit AVAX_USDC-PERPETUAL	−0.0106%	1h	11.220	+0.089%	$5.3M	$9.1M	25x	as long as short
Nado AVAX-PERP	−0.0039%	1h	11.218	+0.071%	$296K	$892K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.219	+0.080%	$103K	$106K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.230	+0.177%	$13K	—	150x	as long as short
Variational Omni AVAX	+0.0009%	8h	11.260	+0.447%	$3.0M	$2.4M	—	as long as short
Lighter AVAXshort	+0.0096%	1h	11.224	+0.128%	$1.2M	$3.3M	10x
Popdex AVAXUSDT	+0.0096%	1h	11.220	+0.089%	$18K	$686K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0099%	8h	11.217	+0.067%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.223	+0.117%	$2.3M	$1.8M	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	11.225	+0.137%	$298K	$120K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.227	+0.155%	$120.3M	$524.3M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.227	+0.152%	$89.2M	$157.4M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.220	+0.089%	$20.2M	$145.9M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.219	+0.080%	$12.5M	$40.7M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.220	+0.089%	$51.4M	$100.2M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.226	+0.143%	$16.0M	$24.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.218	+0.071%	$34.1M	$59.9M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.228	+0.161%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.227	+0.152%	$359K	$568K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.253	+0.384%	$359K	$877K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.256	+0.410%	$181K	$685K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.222	+0.107%	$133K	$459K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.231	+0.187%	$202K	$301K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.253	+0.383%	$12K	$734K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.225	+0.134%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.222	+0.110%	$363K	$1.1M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.228	+0.161%	$30.2M	$5.0M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.218	+0.069%	$669K	$2.2M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.216	+0.058%	$258K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0192%	1h	11.235	+0.223%	$910K	$8.2M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.223	+0.116%	$5.0M	$8.0M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.217	+0.063%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0410% / S −0.0258%	1h	11.226	+0.141%	$236K	—	120x	as long as short
Hyperliquid AVAX	+0.0597%	1h	11.234	+0.214%	$43.4M	$56.8M	10x	as long as short
Kraken Futures PF_AVAXUSD	+0.0630%	1h	11.229	+0.167%	$4.6M	$13.5M	50x	as long as short