AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.1441%/8h= −157.8% APRnext payment −$1.80 per $10,000 · paid last 24h −0.261%

Price spread now: Injective against Kraken Futures−0.582%63s7-day average −0.295% · you buy dearer than you sell

Net, funding: paid 7d − costs−$162as 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−$1261.258% of the position

Long on Kraken Futures Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.365%−$37 on $10k

Price spread, last 4 days (all we have)+1.517%+$152 · spread now −0.582%, 7d avg −0.295%

Together, before fees+1.152%+$115 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$43 a day on $10k at the current rate, and Injective is 0.287% cheaper against Kraken Futures than usual: you would sell low and buy high (−$29 if the spread goes back to its 7-day average of −0.295%). Swap the legs. The two prices were read 63 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 -0.365% in total (about -19.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.80 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	11.014	0.0020	pay 0.0002% / 1h	51m 48s	$4.3M	$11.3M	50x
Short	Injective AVAX/USDC PERP	10.950	−0.1421	pay 0.0178% / 1h	51m 48s	$17K	$151K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.582%Rate

Funding earned: −$302.54
Price spread: −0.582% → −0.295%: −$28.71
Slippage, 4 orders: −$115.81
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$457.08
Costs to cover: 1.258%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; Injective: live order book, 2 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, 2 min ago	3.64 bp	12.9 bp −$13	15.2 bp −$152	59.7 bp −$5,970	doesn't fit
Sell Injective live order book, 2 min ago	40.93 bp	40.9 bp −$41	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 PERPshort	−0.1421%	1h	10.950	−0.582%	$17K	$151K	12x
Deribit AVAX_USDC-PERPETUAL	−0.0022%	1h	11.016	+0.017%	$5.1M	$7.9M	25x	as long as short
Nado AVAX-PERP	−0.0019%	1h	11.016	+0.017%	$286K	$318K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.016	+0.012%	$96K	$97K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.020	+0.054%	$12K	—	150x	as long as short
Kraken Futures PF_AVAXUSDlong	+0.0020%	1h	11.014	long leg	$4.3M	$11.3M	50x
Lighter AVAX	+0.0096%	1h	11.016	+0.014%	$1.2M	$2.7M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.018	+0.035%	$15K	$458K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.010	−0.040%	$12K	$212	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.019	+0.045%	$2.2M	$1.1M	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	11.013	−0.010%	$277K	$129K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.010	−0.034%	$116.2M	$428.5M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.002	−0.110%	$84.2M	$140.9M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.007	−0.065%	$20.2M	$114.1M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.014	−0.001%	$12.1M	$32.2M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.022	+0.071%	$46.1M	$78.0M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.019	+0.044%	$15.5M	$21.7M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.017	+0.026%	$33.1M	$47.8M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.016	+0.017%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.019	+0.044%	$371K	$548K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	10.987	−0.250%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.988	−0.237%	$345K	$891K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.012	−0.020%	$177K	$670K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.018	+0.035%	$129K	$345K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.021	+0.062%	$194K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.046	+0.288%	$12K	$719K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.015	+0.008%	$18K	$71K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.018	+0.030%	$367K	$791K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.016	+0.017%	$29.4M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.015	+0.007%	$678K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.018	+0.030%	$253K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.013	−0.010%	$5.0M	$5.4M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.026	+0.108%	$898K	$5.3M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.014	+0.001%	$1K	—	20x	as long as short
Hyperliquid AVAX	+0.0387%	1h	11.031	+0.153%	$42.8M	$41.6M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.021	+0.060%	$234K	—	120x	as long as short