Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0315%/8h= +34.5% APRpaid last 24h +0.072%

Price spread now: Hyperliquid against OKX+0.144%7-day average +0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$290.293% of the position

Long on OKX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.052%+$5 on $10k

Price spread, last 7 days−0.134%−$13 · spread now +0.144%, 7d avg +0.049%

Together, before fees−0.082%+ Points / potential airdropHyperliquid: Season 2 · farm board−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Hyperliquid is 0.095% dearer against OKX than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.049%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.052% in total (about 2.7% a year). A funding rate is set anew for every payment. 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	OKX AVAX-USDT-SWAP	11.101	0.0021	pay 0.0021% / 8h	2h 57m	$19.8M	$146.7M	50x
Short	Hyperliquid AVAX	11.117	0.0336	get 0.0042% / 1h	57m 40s	$41.8M	$58.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against OKX. 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 OKXbpFee HyperliquidbpOrdersPrice spread, now +0.144%Rate

Funding earned: $66.23
Price spread: +0.144% → +0.049%: $9.52
Slippage, 4 orders: −$10.35
Fee OKX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $46.41
Costs to cover: 0.293%
Break-even: 2.1 days

Slippage from OKX: live order book, 1 min ago; Hyperliquid: live order book, 6 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 OKX live order book, 1 min ago	0.45 bp	8.6 bp −$9	15.1 bp −$151	41.5 bp −$4,151	doesn't fit
Sell Hyperliquid live order book, 6 min ago	0.90 bp	6.6 bp −$7	10.6 bp −$106	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
Deribit AVAX_USDC-PERPETUAL	−0.0290%	1h	11.107	+0.054%	$5.2M	$9.4M	25x	as long as short
Variational Omni AVAX	−0.0203%	8h	11.128	+0.240%	$2.9M	$2.1M	—	as long as short
SoDEX AVAX-USD	−0.0110%	1h	11.104	+0.027%	$18K	$72K	10x	as long as short
Nado AVAX-PERP	−0.0070%	1h	11.122	+0.189%	$298K	$965K	10x	as long as short
Injective AVAX/USDC PERP	−0.0043%	1h	11.100	−0.009%	$17K	$127K	12x	as long as short
Extended AVAX-USD	−0.0040%	1h	11.091	−0.093%	$662K	$2.2M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.104	+0.032%	$97K	$132K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.120	+0.169%	$13K	—	150x	as long as short
Bybit AVAXUSDT	+0.0009%	8h	11.100	−0.009%	$85.2M	$148.1M	75x	as long as short
Backpack AVAX_USDC_PERP	+0.0014%	1h	11.095	−0.054%	$315K	$552K	15x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX AVAX-USDT-SWAPlong	+0.0021%	8h	11.101	long leg	$19.8M	$146.7M	50x
Gate AVAX_USDT	+0.0040%	8h	11.100	−0.009%	$12.3M	$39.2M	75x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0056%	1h	11.134	+0.297%	$899K	$8.1M	50x	as long as short
MEXC AVAX_USDT	+0.0060%	8h	11.100	−0.009%	$52.3M	$107.7M	200x	as long as short
Binance AVAXUSDT	+0.0061%	8h	11.100	−0.009%	$119.1M	$541.6M	75x	as long as short
Phemex AVAXUSDT	+0.0064%	8h	11.110	+0.081%	$29.8M	$4.8M	50x	as long as short
Paradex AVAX-USD-PERP	+0.0092%	8h	11.102	+0.005%	$13K	$766	20x	as long as short
Lighter AVAX	+0.0096%	1h	11.105	+0.033%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.122	+0.189%	$18K	$698K	50x	as long as short
Aevo AVAX-PERP	+0.0096%	1h	11.107	+0.050%	$255K	—	3x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.102	+0.009%	$2.3M	$2.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.104	+0.029%	$295K	$122K	10x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.104	+0.027%	$16.1M	$24.7M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.100	−0.009%	$34.2M	$61.8M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.097	−0.036%	—	$90.4M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.120	+0.171%	$356K	$884K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.124	+0.207%	$179K	$685K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.122	+0.189%	$116K	$487K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.119	+0.162%	$200K	$302K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.153	+0.473%	$12K	$709K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.113	+0.104%	$355K	$1.2M	75x	as long as short
BloFin AVAX-USDT	+0.0181%	8h	11.117	+0.144%	$5.0M	$8.9M	100x	as long as short
Reya AVAXRUSDPERP	+0.0243%	1h	11.118	+0.155%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0258%	1h	11.115	+0.124%	$4.6M	$13.6M	50x	as long as short
Hyperliquid AVAXshort	+0.0336%	1h	11.117	+0.144%	$41.8M	$58.6M	10x
GMX AVAX/USD [AVAX-USDC]	L +0.0407% / S −0.0244%	1h	11.118	+0.154%	$240K	—	120x	as long as short