AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0300%/8h= +32.8% APRnext payment +$0.37 per $10,000 · paid last 24h +0.077%

Price spread now: Hyperliquid against Popdex+0.117%7-day average +0.045% · you sell dearer than you buy

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

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

costs, in and out, $10k−$270.271% of the position

Long on Popdex Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.089%+$9 on $10k

Price spread, last 4 days (all we have)−0.083%−$8 · spread now +0.117%, 7d avg +0.045%

Together, before fees+0.006%+ Points / potential airdropHyperliquid: Season 2 · farm board+$1 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 0.072% dearer against Popdex than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.045%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.089% in total (about 9.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.37 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	Popdex AVAXUSDT	11.109	0.0096	pay 0.0012% / 1h	53m 27s	$17K	$606K	50x
Short	Hyperliquid AVAX	11.122	0.0396	get 0.0049% / 1h	53m 27s	$43.3M	$48.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Popdex. 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 PopdexbpFee HyperliquidbpOrdersPrice spread, now +0.117%Rate

Funding earned: $62.92
Price spread: +0.117% → +0.045%: $7.23
Slippage, 4 orders: −$11.67
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $43.08
Costs to cover: 0.271%
Break-even: 2.2 days

Slippage from Popdex: live order book, 16 min ago; Hyperliquid: live order book, 10 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 Popdex live order book, 16 min ago	1.78 bp	6.3 bp −$6	15.7 bp −$157	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 10 min ago	1.34 bp	8.4 bp −$8	14.9 bp −$149	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 PERP	−0.1423%	1h	11.020	−0.801%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0021%	1h	11.084	−0.225%	$5.2M	$8.4M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.105	−0.040%	$102K	$105K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.115	+0.056%	$13K	—	150x	as long as short
Nado AVAX-PERP	+0.0021%	1h	11.110	+0.005%	$290K	$525K	10x	as long as short
Lighter AVAX	+0.0096%	1h	11.095	−0.122%	$1.2M	$3.0M	10x	as long as short
Popdex AVAXUSDTlong	+0.0096%	1h	11.109	long leg	$17K	$606K	50x
Paradex AVAX-USD-PERP	+0.0100%	8h	11.101	−0.071%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.097	−0.104%	$2.3M	$1.4M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.104	−0.041%	$295K	$107K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AVAXUSDT	+0.0100%	8h	11.115	+0.054%	$118.3M	$473.1M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.116	+0.063%	$88.4M	$146.4M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.118	+0.081%	$19.8M	$128.0M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.106	−0.027%	$12.1M	$36.3M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.114	+0.045%	$48.7M	$81.9M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.111	+0.018%	$15.5M	$23.0M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.110	+0.009%	$33.5M	$52.7M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.114	+0.045%	—	$83.6M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.094	−0.135%	$355K	$551K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.074	−0.317%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.061	−0.430%	$351K	$844K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.143	+0.306%	$179K	$686K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.115	+0.054%	$130K	$369K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.125	+0.144%	$195K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.117	+0.068%	$12K	$720K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.084	−0.225%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.041	−0.611%	$360K	$939K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.087	−0.198%	$29.6M	$5.3M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.103	−0.054%	$664K	$2.0M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.081	−0.249%	$255K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.072	−0.333%	$5.0M	$6.0M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.112	+0.026%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.086	−0.203%	$4.3M	$12.3M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0288%	1h	11.090	−0.171%	$909K	$6.3M	50x	as long as short
Hyperliquid AVAXshort	+0.0396%	1h	11.122	+0.117%	$43.3M	$48.0M	10x
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.114	+0.047%	$236K	—	120x	as long as short