AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.1380%/8h= −151.1% APRnext payment −$1.72 per $10,000 · paid last 24h −0.163%

Price spread now: Injective against Nado−0.185%7-day average −0.208% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$104as in the Price arb table

costs, in and out, $10k−$1061.063% of the position

Long on Nado Short on Injective

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.317%−$32 on $10k

Price spread, last 3 days (all we have)+0.971%+$97 · spread now −0.185%, 7d avg −0.208%

Together, before fees+0.654%+ Points / potential airdropNado: Active · farm board+$65 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 0.024% dearer against Nado than usual: you sell high and buy low (spread −0.185% now, against its 7-day average of −0.208%): +$2 on $10k if it goes back. Holding the pair costs −$41 a day in funding at the current rate, which eats that in about 1 hour. At the pace of the last 3 days (−0.317% in total) that is about 6 hours.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.317% in total (about -35.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.72 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	Nado AVAX-PERP	11.101	−0.0043	get 0.0005% / 1h	25m 09s	$286K	$508K	10x
Short	Injective AVAX/USDC PERP	11.080	−0.1423	pay 0.0178% / 1h	25m 09s	$17K	$151K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Nado. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 NadobpFee InjectivebpOrdersPrice spread, now −0.185%Rate

Funding earned: −$289.77
Price spread: −0.185% → −0.208%: $2.38
Slippage, 4 orders: −$99.28
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$393.69
Costs to cover: 1.063%
Break-even: never at this rate

Slippage from Nado: live order book, 43 min ago; Injective: live order book, 44 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 Nado live order book, 43 min ago	0.89 bp	9.5 bp −$10	21.3 bp −$213	doesn't fit	doesn't fit
Sell Injective live order book, 44 min ago	35.75 bp	35.8 bp −$36	doesn't fit	doesn't fit	doesn't fit

AVAX on 35 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	11.080	−0.185%	$17K	$151K	12x
Nado AVAX-PERPlong	−0.0043%	1h	11.101	long leg	$286K	$508K	10x
Deribit AVAX_USDC-PERPETUAL	−0.0020%	1h	11.114	+0.122%	$5.2M	$8.3M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.100	−0.003%	$102K	$96K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.115	+0.132%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0045%	8h	11.113	+0.113%	$12.1M	$36.6M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.115	+0.130%	$1.2M	$3.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.108	+0.068%	$15K	$594K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.111	+0.091%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.110	+0.086%	$2.3M	$1.4M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AVAX	+0.0100%	1h	11.106	+0.052%	$295K	$107K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.112	+0.104%	$118.5M	$459.9M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.114	+0.122%	$88.6M	$143.6M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.112	+0.104%	$19.9M	$123.8M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.113	+0.113%	$48.8M	$82.7M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.118	+0.158%	$15.6M	$22.6M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.109	+0.077%	$33.4M	$51.1M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.113	+0.113%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.115	+0.131%	$355K	$535K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.122	+0.191%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.120	+0.180%	$355K	$810K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.110	+0.086%	$179K	$677K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.112	+0.104%	$130K	$363K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.120	+0.176%	$195K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.137	+0.333%	$12K	$717K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.115	+0.131%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.084	−0.148%	$360K	$938K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.118	+0.158%	$29.7M	$5.6M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.111	+0.095%	$671K	$1.7M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.111	+0.095%	$255K	—	3x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.108	+0.066%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.120	+0.176%	$4.3M	$11.9M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0288%	1h	11.112	+0.104%	$903K	$5.9M	50x	as long as short
Hyperliquid AVAX	+0.0401%	1h	11.127	+0.239%	$43.2M	$47.1M	10x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.113	+0.117%	$236K	—	120x	as long as short