AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0715%/8h= +78.3% APRnext payment +$0.89 per $10,000 · paid last 24h +0.078%

Price spread now: Hyperliquid against Lighter+0.150%7-day average +0.083% · you sell dearer than you buy

Net, funding: paid 7d − costs$0as in the Funding arb table

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$170.170% of the position

Long on Lighter Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.166%+$17 on $10k

Price spread, last 4 days (all we have)−0.117%−$12 · spread now +0.150%, 7d avg +0.083%

Together, before fees+0.049%+ Points / potential airdropLighter: Season 3 · Hyperliquid: Season 2 · farm board+$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$21 a day on $10k at the current rate, and Hyperliquid is 0.067% dearer against Lighter than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.083%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.166% in total (about 8.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.89 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	Lighter AVAX	11.236	0.0096	pay 0.0012% / 1h	32m 25s	$1.2M	$3.3M	10x
Short	Hyperliquid AVAX	11.253	0.0811	get 0.0101% / 1h	32m 25s	$43.7M	$55.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.150%Rate

Funding earned: $150.13
Price spread: +0.150% → +0.083%: $6.68
Slippage, 4 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $139.81
Costs to cover: 0.170%
Break-even: 0.5 days

Slippage from Lighter: live order book, 5 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 Lighter live order book, 5 min ago	2.00 bp	2.7 bp −$3	11.4 bp −$114	90.1 bp −$9,007	doesn't fit
Sell Hyperliquid live order book, 11 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 PERP	−0.1451%	1h	11.190	−0.411%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0195%	1h	11.233	−0.028%	$5.3M	$8.9M	25x	as long as short
Nado AVAX-PERP	−0.0093%	1h	11.235	−0.006%	$296K	$883K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.236	−0.003%	$103K	$111K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.235	−0.007%	$13K	—	150x	as long as short
Variational Omni AVAX	+0.0072%	8h	11.226	−0.089%	$3.0M	$2.4M	—	as long as short
Lighter AVAXlong	+0.0096%	1h	11.236	long leg	$1.2M	$3.3M	10x
Popdex AVAXUSDT	+0.0096%	1h	11.236	−0.002%	$19K	$673K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.235	−0.009%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.238	+0.019%	$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	11.240	+0.034%	$299K	$118K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.234	−0.023%	$120.2M	$513.4M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.234	−0.020%	$89.4M	$155.1M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.232	−0.037%	$20.2M	$143.9M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.233	−0.028%	$12.5M	$40.3M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.232	−0.037%	$51.5M	$93.2M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.242	+0.052%	$15.8M	$24.2M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.233	−0.028%	$34.2M	$58.1M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.234	−0.020%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.236	−0.002%	$359K	$563K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.232	−0.038%	$352K	$862K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.228	−0.073%	$180K	$685K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.238	+0.016%	$132K	$440K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.242	+0.052%	$204K	$303K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.267	+0.272%	$12K	$733K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.236	−0.002%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.236	−0.006%	$363K	$1.0M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.231	−0.046%	$30.2M	$4.9M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.234	−0.024%	$672K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.235	−0.013%	$258K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.233	−0.028%	$5.0M	$7.5M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.231	−0.045%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0270%	1h	11.240	+0.038%	$4.6M	$13.1M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0280%	1h	11.245	+0.078%	$914K	$7.9M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0423% / S −0.0278%	1h	11.234	−0.015%	$237K	—	120x	as long as short
Hyperliquid AVAXshort	+0.0811%	1h	11.253	+0.150%	$43.7M	$55.1M	10x