Funding you earn now, next payment 02:00 UTC+0.0287%/8h= +31.4% APRpaid last 24h +0.100%
Price spread now: Hyperliquid against Orderly+0.063%7-day average +0.018% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.060%+$6 on $10k
+Price spread, last 3 days (all we have)−0.019%−$2 · spread now +0.063%, 7d avg +0.018%
=Together, before fees+0.041%+ Points / potential airdropHyperliquid: Season 2 · farm board+$4 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 0.045% dearer against Orderly than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.018%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.060% in total (about 3.1% 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 | Orderly PERP_AVAX_USDC | 11.103 | 0.0100 | pay 0.0100% / 8h | 6h 09m | $195K | $313K | 20x |
| Short | Hyperliquid AVAX | 11.110 | 0.0387 | get 0.0048% / 1h | 9m 41s | $43.1M | $44.7M | 10x |
Orderly PERP_AVAX_USDC
Hyperliquid AVAXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Orderly. 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
- $60.17
- Price spread: +0.063% → +0.018%
- $4.5
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $49.66
- Costs to cover
- 0.150%
- Break-even
- 1.2 days
Slippage unknown: Orderly: no order-book sample; Hyperliquid: live order book, 4 min ago. Net counts fees only.
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 Orderly no order-book sample | — | — | — | — | — |
| Sell Hyperliquid live order book, 4 min ago | 0.45 bp | 5.4 bp −$5 | 9.3 bp −$93 | doesn't fit | doesn't fit |
Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 PERP | −0.1423% | 1h | 11.070 | −0.297% | $17K | $151K | 12x | as long as short |
| Deribit AVAX_USDC-PERPETUAL | −0.0110% | 1h | 11.097 | −0.054% | $5.2M | $8.1M | 25x | as long as short |
| Nado AVAX-PERP | −0.0041% | 1h | 11.105 | +0.018% | $286K | $492K | 10x | as long as short |
| dYdX AVAX-USD | 0.0000% | 1h | 11.097 | −0.052% | $102K | $91K | 10x | as long as short |
| gTrade (Gains Network) AVAX/USD | L +0.0002% / S −0.0003% | 1h | 11.098 | −0.042% | $13K | — | 150x | as long as short |
| Gate AVAX_USDT | +0.0061% | 8h | 11.095 | −0.072% | $12.1M | $36.7M | 75x | as long as short |
| Lighter AVAX | +0.0096% | 1h | 11.092 | −0.095% | $1.2M | $3.0M | 10x | as long as short |
| Popdex AVAXUSDT | +0.0096% | 1h | 11.083 | −0.180% | $15K | $578K | 50x | as long as short |
| Paradex AVAX-USD-PERP | +0.0100% | 8h | 11.094 | −0.079% | $13K | $434 | 20x | as long as short |
| Aster AVAXUSDT | +0.0100% | 8h | 11.099 | −0.040% | $2.3M | $1.4M | 75x | as long as short |
Injective AVAX/USDC PERP
Deribit AVAX_USDC-PERPETUAL
Nado AVAX-PERP
dYdX AVAX-USD
gTrade (Gains Network) AVAX/USD
Gate AVAX_USDT
Lighter AVAX
Popdex AVAXUSDT
Paradex AVAX-USD-PERP
Aster AVAXUSDTShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica AVAX | +0.0100% | 1h | 11.097 | −0.056% | $295K | $107K | 10x | as long as short |
| Binance AVAXUSDT | +0.0100% | 8h | 11.092 | −0.099% | $118.3M | $450.3M | 75x | as long as short |
| Bybit AVAXUSDT | +0.0100% | 8h | 11.091 | −0.108% | $88.3M | $141.6M | 75x | as long as short |
| OKX AVAX-USDT-SWAP | +0.0100% | 8h | 11.091 | −0.108% | $20.0M | $121.5M | 50x | as long as short |
| MEXC AVAX_USDT | +0.0100% | 8h | 11.091 | −0.108% | $48.6M | $82.8M | 200x | as long as short |
| KuCoin AVAXUSDTM | +0.0100% | 8h | 11.100 | −0.027% | $15.5M | $22.3M | 75x | as long as short |
| Bitget AVAXUSDT | +0.0100% | 8h | 11.088 | −0.135% | $33.3M | $50.1M | 75x | as long as short |
| BingX AVAX-USDT | +0.0100% | 8h | 11.092 | −0.099% | — | $82.9M | — | as long as short |
| Backpack AVAX_USDC_PERP | +0.0100% | 1h | 11.095 | −0.072% | $355K | $511K | 15x | as long as short |
| Variational Omni AVAX | +0.0100% | 8h | 11.107 | +0.032% | $2.9M | $2.2M | — | as long as short |
| GRVT AVAX_USDT_Perp | +0.0100% | 8h | 11.120 | +0.154% | $355K | $790K | 10x | as long as short |
| ApeX Omni AVAXUSDT | +0.0100% | 1h | 11.124 | +0.189% | $179K | $679K | 50x | as long as short |
| Polymarket Perps AVAX-USD | +0.0100% | 1h | 11.104 | +0.009% | $130K | $361K | 10x | as long as short |
| Orderly PERP_AVAX_USDClong | +0.0100% | 8h | 11.103 | long leg | $195K | $313K | 20x | |
| SunX AVAX-USDT | +0.0100% | 8h | 11.137 | +0.303% | $12K | $710K | 20x | as long as short |
| SoDEX AVAX-USD | +0.0100% | 1h | 11.098 | −0.045% | $19K | $72K | 10x | as long as short |
| HTX AVAX-USDT | +0.0100% | 8h | 11.107 | +0.032% | $361K | $854K | 75x | as long as short |
| Phemex AVAXUSDT | +0.0100% | 8h | 11.100 | −0.027% | $29.7M | $5.6M | 50x | as long as short |
| Extended AVAX-USD | +0.0104% | 1h | 11.087 | −0.142% | $671K | $1.7M | 25x | as long as short |
| Aevo AVAX-PERP | +0.0104% | 1h | 11.091 | −0.112% | $255K | — | 3x | as long as short |
| Reya AVAXRUSDPERP | +0.0244% | 1h | 11.100 | −0.030% | $1K | — | 20x | as long as short |
| Kraken Futures PF_AVAXUSD | +0.0255% | 1h | 11.099 | −0.037% | $4.3M | $11.7M | 50x | as long as short |
| Coinbase International AVAX-PERP-INTX | +0.0288% | 1h | 11.103 | 0.000% | $901K | $5.8M | 50x | as long as short |
| Hyperliquid AVAXshort | +0.0387% | 1h | 11.110 | +0.063% | $43.1M | $44.7M | 10x | |
| GMX AVAX/USD [AVAX-USDC] | L +0.0436% / S −0.0295% | 1h | 11.100 | −0.027% | $236K | — | 120x | as long as short |
Pacifica AVAX
Binance AVAXUSDT
Bybit AVAXUSDT
OKX AVAX-USDT-SWAP
MEXC AVAX_USDT
KuCoin AVAXUSDTM
Bitget AVAXUSDT
BingX AVAX-USDT
Backpack AVAX_USDC_PERP
Variational Omni AVAX
GRVT AVAX_USDT_Perp
ApeX Omni AVAXUSDT
Polymarket Perps AVAX-USD
SunX AVAX-USDT
SoDEX AVAX-USD
HTX AVAX-USDT
Phemex AVAXUSDT
Extended AVAX-USD
Aevo AVAX-PERP
Reya AVAXRUSDPERP
Kraken Futures PF_AVAXUSD
Coinbase International AVAX-PERP-INTX
GMX AVAX/USD [AVAX-USDC]