AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0202%/8h= −22.1% APRnext payment −$0.25 per $10,000 · paid last 24h −0.174%

Price spread now: Deribit against Lighter+0.044%7-day average +0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$180.183% of the position

Long on Lighter Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.451%−$45 on $10k

Price spread, last 3 days (all we have)−0.173%−$17 · spread now +0.044%, 7d avg +0.005%

Together, before fees−0.624%+ Points / potential airdropLighter: Season 3 · farm board−$62 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.040% dearer against Lighter than usual: you sell high and buy low (spread +0.044% now, against its 7-day average of +0.005%): +$4 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter AVAX	11.240	0.0096	pay 0.0012% / 1h	8m 40s	$1.2M	$3.3M	10x
Short	Deribit AVAX_USDC-PERPETUAL	11.245	−0.0106	pay 0.0013% / 1h	8m 40s	$5.3M	$9.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Lighter. 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 LighterbpFee DeribitbpOrdersPrice spread, now +0.044%Rate

Funding earned: −$42.33
Price spread: +0.044% → +0.005%: $3.97
Slippage, 4 orders: −$11.28
Fee Lighter: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$56.64
Costs to cover: 0.183%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 min ago; Deribit: live order book, just now.

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 Lighter live order book, 4 min ago	2.98 bp	3.1 bp −$3	11.5 bp −$115	93.6 bp −$9,358	doesn't fit
Sell Deribit live order book, just now	1.78 bp	5.3 bp −$5	17.4 bp −$174	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	−0.0570%	1h	11.210	−0.267%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUALshort	−0.0106%	1h	11.245	+0.044%	$5.3M	$9.1M	25x
Nado AVAX-PERP	−0.0041%	1h	11.242	+0.018%	$297K	$892K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.240	−0.003%	$103K	$106K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.246	+0.053%	$13K	—	150x	as long as short
Variational Omni AVAX	+0.0019%	8h	11.219	−0.187%	$3.0M	$2.4M	—	as long as short
Lighter AVAXlong	+0.0096%	1h	11.240	long leg	$1.2M	$3.3M	10x
Popdex AVAXUSDT	+0.0096%	1h	11.243	+0.027%	$18K	$686K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0099%	8h	11.236	−0.032%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.240	−0.002%	$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	11.242	+0.013%	$299K	$120K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.238	−0.019%	$120.4M	$524.3M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.237	−0.027%	$89.3M	$157.4M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.236	−0.036%	$20.2M	$146.1M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.238	−0.018%	$12.5M	$40.7M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.238	−0.018%	$51.4M	$100.3M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.245	+0.044%	$16.0M	$24.4M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.239	−0.009%	$34.1M	$59.9M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.237	−0.027%	—	$88.9M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.241	+0.009%	$359K	$567K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.253	+0.116%	$359K	$877K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.256	+0.142%	$181K	$685K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.246	+0.053%	$134K	$459K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.251	+0.098%	$202K	$301K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.261	+0.186%	$12K	$734K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.248	+0.071%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.239	−0.004%	$363K	$1.1M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.242	+0.018%	$30.2M	$5.0M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.233	−0.061%	$669K	$2.2M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.243	+0.027%	$258K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0192%	1h	11.235	−0.044%	$910K	$8.2M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.240	0.000%	$5.0M	$8.0M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.242	+0.018%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0411% / S −0.0258%	1h	11.245	+0.048%	$237K	—	120x	as long as short
Hyperliquid AVAX	+0.0593%	1h	11.255	+0.133%	$43.5M	$56.6M	10x	as long as short
Kraken Futures PF_AVAXUSD	+0.0629%	1h	11.253	+0.112%	$4.6M	$13.5M	50x	as long as short