AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0429%/8h= +47.0% APRnext payment +$0.54 per $10,000 · paid last 24h +0.086%

Price spread now: Hyperliquid against Kraken Futures−0.057%7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$360.357% of the position

Long on Kraken Futures Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.090%+$9 on $10k

Price spread, last 3 days (all we have)+0.282%+$28 · spread now −0.057%, 7d avg +0.007%

Together, before fees+0.372%+ Points / potential airdropHyperliquid: Season 2 · farm board+$37 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.064% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.057% now, against its 7-day average of +0.007%). If the spread goes back, that is −$6 on $10k: about 12 hours of funding at the current rate (+$13 a day). At the pace of the last 7 days (+0.090% in total) that is about 5.0 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.090% in total (about 4.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.54 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	Kraken Futures PF_AVAXUSD	11.338	0.0253	pay 0.0032% / 1h	2m 40s	$4.6M	$13.5M	50x
Short	Hyperliquid AVAX	11.332	0.0683	get 0.0085% / 1h	2m 40s	$44.0M	$58.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Kraken Futures. 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 Kraken FuturesbpFee HyperliquidbpOrdersPrice spread, now −0.057%Rate

Funding earned: $90.18
Price spread: −0.057% → +0.007%: −$6.43
Slippage, 4 orders: −$16.71
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $48.03
Costs to cover: 0.357%
Break-even: 3.3 days

Slippage from Kraken Futures: live order book, 1 min ago; Hyperliquid: live order book, 11 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 Kraken Futures live order book, 1 min ago	4.41 bp	11.9 bp −$12	15.2 bp −$152	53.8 bp −$5,375	doesn't fit
Sell Hyperliquid live order book, 11 min ago	0.44 bp	6.6 bp −$7	11.2 bp −$112	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
Deribit AVAX_USDC-PERPETUAL	−0.0191%	1h	11.331	−0.066%	$5.4M	$9.3M	25x	as long as short
Nado AVAX-PERP	−0.0077%	1h	11.326	−0.110%	$299K	$958K	10x	as long as short
Variational Omni AVAX	−0.0076%	8h	11.354	+0.141%	$3.1M	$2.2M	—	as long as short
Injective AVAX/USDC PERP	−0.0043%	1h	11.270	−0.604%	$17K	$152K	12x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.318	−0.178%	$99K	$115K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0004%	1h	11.332	−0.057%	$16K	—	150x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0056%	1h	11.358	+0.172%	$997K	$8.4M	50x	as long as short
Gate AVAX_USDT	+0.0071%	8h	11.316	−0.198%	$12.7M	$40.5M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.314	−0.216%	$1.3M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.327	−0.101%	$12K	$704K	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX AVAX-USDT-SWAP	+0.0098%	8h	11.313	−0.225%	$20.4M	$149.1M	50x	as long as short
Paradex AVAX-USD-PERP	+0.0098%	8h	11.311	−0.245%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.328	−0.091%	$2.3M	$1.9M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.316	−0.201%	$301K	$121K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.312	−0.234%	$121.3M	$535.5M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.316	−0.198%	$91.1M	$156.3M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.314	−0.216%	$54.7M	$110.8M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.317	−0.189%	$16.5M	$24.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.312	−0.233%	$34.8M	$60.9M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.315	−0.207%	—	$90.0M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.332	−0.057%	$341K	$564K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.353	+0.130%	$359K	$895K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.350	+0.102%	$186K	$684K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.332	−0.057%	$135K	$485K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.340	+0.014%	$204K	$302K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.357	+0.165%	$12K	$724K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.331	−0.066%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.323	−0.135%	$365K	$1.1M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.328	−0.092%	$30.5M	$5.0M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.311	−0.241%	$676K	$2.2M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.326	−0.110%	$260K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.323	−0.136%	$5.0M	$8.6M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.330	−0.072%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSDlong	+0.0253%	1h	11.338	long leg	$4.6M	$13.5M	50x
GMX AVAX/USD [AVAX-USDC]	L +0.0405% / S −0.0245%	1h	11.331	−0.062%	$244K	—	120x	as long as short
Hyperliquid AVAXshort	+0.0683%	1h	11.332	−0.057%	$44.0M	$58.6M	10x