Funding you earn now, next payment 06:00 UTC−0.1519%/8h= −166.3% APRnext payment −$1.90 per $10,000 · paid last 24h −0.282%
Price spread now: Injective against Lighter+1.547%7-day average −0.183% · you sell dearer than you buy
Net, funding: paid 7d − costs−$138as in the Funding arb table
Net, price: spread back to 7d avg − costs+$68as in the Price arb table
costs, in and out, $10k−$1051.053% of the position
Funding, last 7 days−0.323%−$32 on $10k
+Price spread, last 4 days (all we have)−0.583%−$58 · spread now +1.547%, 7d avg −0.183%
=Together, before fees−0.906%+ Points / potential airdropLighter: Season 3 · farm board−$91 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Injective is 1.729% dearer against Lighter than usual: you sell high and buy low (spread +1.547% now, against its 7-day average of −0.183%): +$173 on $10k if it goes back. Holding the pair costs −$46 a day in funding at the current rate, which eats that in about 3.8 days. At the pace of the last 7 days (−0.323% in total) that is about 37 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.323% in total (about -16.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.90 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 | 10.596 | 0.0096 | pay 0.0012% / 1h | 19m 25s | $1.2M | $2.6M | 10x |
| Short | Injective AVAX/USDC PERP | 10.760 | −0.1423 | pay 0.0178% / 1h | 19m 25s | $17K | $152K | 12x |
Lighter AVAX
Injective AVAX/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Lighter. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$318.95
- Price spread: +1.547% → −0.183%
- $172.95
- Slippage, 4 orders
- −$105.29
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$251.31
- Costs to cover
- 1.053%
- Break-even
- from the start
Slippage from Lighter: live order book, 3 min ago; Injective: live order book, 29 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, 3 min ago | 4.17 bp | 4.4 bp −$4 | 10.8 bp −$108 | 82.2 bp −$8,223 | doesn't fit |
| Sell Injective live order book, 29 min ago | 42.47 bp | 42.5 bp −$42 | 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 | −0.1423% | 1h | 10.760 | +1.547% | $17K | $152K | 12x | |
| Kraken Futures PF_AVAXUSD | −0.0281% | 1h | 10.621 | +0.239% | $4.2M | $11.5M | 50x | as long as short |
| Nado AVAX-PERP | −0.0054% | 1h | 10.617 | +0.193% | $285K | $342K | 10x | as long as short |
| Variational Omni AVAX | −0.0027% | 8h | 10.535 | −0.580% | $2.7M | $2.2M | — | as long as short |
| dYdX AVAX-USD | 0.0000% | 1h | 10.599 | +0.028% | $88K | $117K | 10x | as long as short |
| Deribit AVAX_USDC-PERPETUAL | 0.0000% | 1h | 10.616 | +0.188% | $4.7M | $7.5M | 25x | as long as short |
| gTrade (Gains Network) AVAX/USD | L +0.0002% / S −0.0003% | 1h | 10.617 | +0.197% | $12K | — | 150x | as long as short |
| Gate AVAX_USDT | +0.0019% | 8h | 10.615 | +0.178% | $12.3M | $32.8M | 75x | as long as short |
| Backpack AVAX_USDC_PERP | +0.0034% | 1h | 10.588 | −0.076% | $369K | $563K | 15x | as long as short |
| Bybit AVAXUSDT | +0.0066% | 8h | 10.611 | +0.141% | $78.2M | $145.3M | 75x | as long as short |
Kraken Futures PF_AVAXUSD
Nado AVAX-PERP
Variational Omni AVAX
dYdX AVAX-USD
Deribit AVAX_USDC-PERPETUAL
gTrade (Gains Network) AVAX/USD
Gate AVAX_USDT
Backpack AVAX_USDC_PERP
Bybit AVAXUSDTShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter AVAXlong | +0.0096% | 1h | 10.596 | long leg | $1.2M | $2.6M | 10x | |
| Popdex AVAXUSDT | +0.0096% | 1h | 10.619 | +0.216% | $18K | $437K | 50x | as long as short |
| Paradex AVAX-USD-PERP | +0.0096% | 8h | 10.599 | +0.023% | $12K | $212 | 20x | as long as short |
| Hyperliquid AVAX | +0.0100% | 1h | 10.623 | +0.255% | $38.0M | $44.0M | 10x | as long as short |
| Aster AVAXUSDT | +0.0100% | 8h | 10.613 | +0.164% | $2.1M | $1.0M | 75x | as long as short |
| Pacifica AVAX | +0.0100% | 1h | 10.601 | +0.047% | $265K | $131K | 10x | as long as short |
| Binance AVAXUSDT | +0.0100% | 8h | 10.619 | +0.214% | $113.1M | $432.0M | 75x | as long as short |
| OKX AVAX-USDT-SWAP | +0.0100% | 8h | 10.617 | +0.197% | $18.7M | $112.4M | 50x | as long as short |
| MEXC AVAX_USDT | +0.0100% | 8h | 10.619 | +0.216% | $44.0M | $80.5M | 200x | as long as short |
| KuCoin AVAXUSDTM | +0.0100% | 8h | 10.615 | +0.178% | $13.2M | $22.8M | 75x | as long as short |
| Bitget AVAXUSDT | +0.0100% | 8h | 10.614 | +0.169% | $32.1M | $49.2M | 75x | as long as short |
| BingX AVAX-USDT | +0.0100% | 8h | 10.617 | +0.197% | — | $54.3M | — | as long as short |
| GRVT AVAX_USDT_Perp | +0.0100% | 8h | 10.527 | −0.652% | $337K | $978K | 10x | as long as short |
| ApeX Omni AVAXUSDT | +0.0100% | 1h | 10.532 | −0.605% | $170K | $662K | 50x | as long as short |
| Polymarket Perps AVAX-USD | +0.0100% | 1h | 10.618 | +0.207% | $132K | $354K | 10x | as long as short |
| Orderly PERP_AVAX_USDC | +0.0100% | 8h | 10.624 | +0.263% | $188K | $304K | 20x | as long as short |
| SunX AVAX-USDT | +0.0100% | 8h | 10.649 | +0.495% | $12K | $759K | 20x | as long as short |
| SoDEX AVAX-USD | +0.0100% | 1h | 10.618 | +0.207% | $18K | $72K | 10x | as long as short |
| HTX AVAX-USDT | +0.0100% | 8h | 10.575 | −0.194% | $344K | $804K | 75x | as long as short |
| Phemex AVAXUSDT | +0.0100% | 8h | 10.572 | −0.227% | $28.2M | $5.8M | 50x | as long as short |
| Extended AVAX-USD | +0.0104% | 1h | 10.611 | +0.138% | $636K | $1.4M | 25x | as long as short |
| Aevo AVAX-PERP | +0.0104% | 1h | 10.616 | +0.183% | $244K | — | 3x | as long as short |
| Coinbase International AVAX-PERP-INTX | +0.0216% | 1h | 10.615 | +0.178% | $843K | $4.9M | 50x | as long as short |
| BloFin AVAX-USDT | +0.0220% | 8h | 10.545 | −0.482% | $4.6M | $5.6M | 100x | as long as short |
| Reya AVAXRUSDPERP | +0.0245% | 1h | 10.611 | +0.139% | $1K | — | 20x | as long as short |
| GMX AVAX/USD [AVAX-USDC] | L +0.0444% / S −0.0271% | 1h | 10.617 | +0.196% | $232K | — | 120x | as long as short |
Popdex AVAXUSDT
Paradex AVAX-USD-PERP
Hyperliquid AVAX
Aster AVAXUSDT
Pacifica AVAX
Binance AVAXUSDT
OKX AVAX-USDT-SWAP
MEXC AVAX_USDT
KuCoin AVAXUSDTM
Bitget AVAXUSDT
BingX AVAX-USDT
GRVT AVAX_USDT_Perp
ApeX Omni AVAXUSDT
Polymarket Perps AVAX-USD
Orderly PERP_AVAX_USDC
SunX AVAX-USDT
SoDEX AVAX-USD
HTX AVAX-USDT
Phemex AVAXUSDT
Extended AVAX-USD
Aevo AVAX-PERP
Coinbase International AVAX-PERP-INTX
BloFin AVAX-USDT
Reya AVAXRUSDPERP
GMX AVAX/USD [AVAX-USDC]