AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0361%/8h= −39.5% APRnext payment −$0.45 per $10,000 · paid last 24h +0.009%

Price spread now: Kraken Futures against Lighter−0.014%7-day average +0.070% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$270.268% of the position

Long on Lighter Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.050%+$5 on $10k

Price spread, last 4 days (all we have)−0.406%−$41 · spread now −0.014%, 7d avg +0.070%

Together, before fees−0.356%+ Points / potential airdropLighter: Season 3 · farm board−$36 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Kraken Futures is 0.084% cheaper against Lighter than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.070%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.050% in total (about 2.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.45 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	10.783	0.0096	pay 0.0012% / 1h	47m 26s	$1.2M	$2.0M	10x
Short	Kraken Futures PF_AVAXUSD	10.781	−0.0265	pay 0.0033% / 1h	47m 26s	$3.7M	$11.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.014%Rate

Funding earned: −$75.85
Price spread: −0.014% → +0.070%: −$8.41
Slippage, 4 orders: −$16.77
Fee Lighter: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$111.04
Costs to cover: 0.268%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 min ago; Kraken Futures: 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 Lighter live order book, 4 min ago	0.46 bp	1.3 bp −$1	7.8 bp −$78	85.8 bp −$8,577	doesn't fit
Sell Kraken Futures live order book, 2 min ago	1.86 bp	13.3 bp −$13	22.0 bp −$220	56.2 bp −$5,615	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
Nado AVAX-PERP	−0.0289%	1h	10.789	+0.055%	$281K	$331K	10x	as long as short
Kraken Futures PF_AVAXUSDshort	−0.0265%	1h	10.781	−0.014%	$3.7M	$11.6M	50x
Phemex AVAXUSDT	−0.0099%	8h	10.775	−0.070%	$28.7M	$5.7M	50x	as long as short
Variational Omni AVAX	−0.0077%	8h	10.764	−0.175%	$3.0M	$2.1M	—	as long as short
Gate AVAX_USDT	−0.0004%	8h	10.785	+0.022%	$13.6M	$28.6M	75x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.785	+0.019%	$92K	$111K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.782	−0.006%	$4.9M	$6.8M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.796	+0.120%	$12K	—	150x	as long as short
SoDEX AVAX-USD	+0.0017%	1h	10.779	−0.033%	$18K	$68K	10x	as long as short
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	−0.210%	$17K	$151K	12x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex AVAX-USD-PERP	+0.0093%	8h	10.786	+0.028%	$12K	$212	20x	as long as short
Lighter AVAXlong	+0.0096%	1h	10.783	long leg	$1.2M	$2.0M	10x
Popdex AVAXUSDT	+0.0096%	1h	10.788	+0.050%	$28K	$463K	50x	as long as short
Hyperliquid AVAX	+0.0100%	1h	10.802	+0.180%	$37.0M	$40.1M	10x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.791	+0.078%	$2.4M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.785	+0.024%	$271K	$128K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.788	+0.050%	$114.1M	$398.3M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.788	+0.050%	$84.3M	$138.7M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.790	+0.069%	$19.0M	$107.0M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.788	+0.050%	$53.1M	$78.9M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.787	+0.041%	$14.0M	$21.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.791	+0.078%	$32.8M	$45.6M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	10.788	+0.050%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.783	+0.004%	$439K	$531K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.769	−0.126%	$340K	$1.2M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.769	−0.126%	$174K	$663K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.795	+0.115%	$136K	$287K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.787	+0.041%	$233K	$248K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.793	+0.092%	$11K	$769K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.777	−0.057%	$332K	$867K	75x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.785	+0.020%	$601K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.775	−0.073%	$247K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0200%	1h	10.770	−0.117%	$850K	$5.2M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.767	−0.145%	$4.6M	$5.4M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.786	+0.032%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0443% / S −0.0294%	1h	10.785	+0.020%	$228K	—	120x	as long as short