Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0342%/8h= +37.4% APRpaid last 24h +0.056%

Price spread now: Hyperliquid against SunX+0.136%7-day average −0.213% · you sell dearer than you buy

Net, funding: paid 7d − costs−$174as in the Funding arb table

Net, price: spread back to 7d avg − costs−$135as in the Price arb table

costs, in and out, $10k−$1701.699% of the position

Long on SunX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.039%−$4 on $10k

Price spread, last 3 days (all we have)−0.157%−$16 · spread now +0.136%, 7d avg −0.213%

Together, before fees−0.195%+ Points / potential airdropHyperliquid: Season 2 · farm board−$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Hyperliquid is 0.349% dearer against SunX than usual: you sell high and buy low: +$35 more if the spread goes back to its 7-day average of −0.213%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.039% in total (about -2.0% 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	SunX AVAX-USDT	11.201	0.0100	pay 0.0100% / 8h	2h 40m	$12K	$713K	20x
Short	Hyperliquid AVAX	11.216	0.0442	get 0.0055% / 1h	40m 43s	$42.6M	$58.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against SunX. 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 SunXbpFee HyperliquidbpOrdersPrice spread, now +0.136%Rate

Funding earned: $71.79
Price spread: +0.136% → −0.213%: $34.86
Slippage, 4 orders: −$152.95
Fee SunX: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$63.3
Costs to cover: 1.699%
Break-even: 13.2 days

Slippage from SunX: live order book, 40 min ago; Hyperliquid: live order book, 3 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 SunX live order book, 40 min ago	41.89 bp	55.4 bp −$55	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 3 min ago	0.45 bp	6.8 bp −$7	12.6 bp −$126	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
Variational Omni AVAX	−0.0177%	8h	11.179	−0.199%	$2.9M	$2.1M	—	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0107%	1h	11.205	+0.037%	$5.3M	$9.4M	25x	as long as short
Nado AVAX-PERP	−0.0104%	1h	11.166	−0.306%	$296K	$955K	10x	as long as short
Injective AVAX/USDC PERP	−0.0043%	1h	11.100	−0.900%	$17K	$127K	12x	as long as short
Extended AVAX-USD	−0.0024%	1h	11.196	−0.045%	$666K	$2.3M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.203	+0.020%	$98K	$115K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.211	+0.090%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0040%	8h	11.197	−0.034%	$12.5M	$39.7M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0048%	8h	11.204	+0.029%	$20.1M	$147.1M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0056%	1h	11.209	+0.073%	$913K	$8.2M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit AVAXUSDT	+0.0057%	8h	11.206	+0.046%	$85.4M	$151.1M	75x	as long as short
Phemex AVAXUSDT	+0.0058%	8h	11.200	−0.007%	$30.0M	$4.8M	50x	as long as short
MEXC AVAX_USDT	+0.0067%	8h	11.201	+0.002%	$53.5M	$108.9M	200x	as long as short
Binance AVAXUSDT	+0.0068%	8h	11.201	+0.002%	$120.0M	$537.8M	75x	as long as short
Paradex AVAX-USD-PERP	+0.0095%	8h	11.202	+0.008%	$13K	$766	20x	as long as short
Lighter AVAX	+0.0096%	1h	11.202	+0.014%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.170	−0.275%	$13K	$697K	50x	as long as short
Aevo AVAX-PERP	+0.0096%	1h	11.204	+0.029%	$257K	—	3x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.199	−0.016%	$2.3M	$1.9M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.206	+0.045%	$298K	$122K	10x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.205	+0.037%	$16.0M	$24.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.206	+0.046%	$34.4M	$61.1M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.202	+0.011%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.206	+0.046%	$332K	$557K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.182	−0.168%	$358K	$907K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.187	−0.123%	$180K	$686K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.174	−0.239%	$124K	$475K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.213	+0.109%	$202K	$302K	20x	as long as short
SunX AVAX-USDTlong	+0.0100%	8h	11.201	long leg	$12K	$713K	20x
SoDEX AVAX-USD	+0.0100%	1h	11.197	−0.034%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.168	−0.297%	$358K	$1.1M	75x	as long as short
BloFin AVAX-USDT	+0.0188%	8h	11.200	−0.007%	$5.0M	$8.5M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.171	−0.266%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0256%	1h	11.208	+0.063%	$4.7M	$13.7M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0405% / S −0.0244%	1h	11.209	+0.074%	$241K	—	120x	as long as short
Hyperliquid AVAXshort	+0.0442%	1h	11.216	+0.136%	$42.6M	$58.5M	10x