Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0095%/8h= +10.4% APRpaid last 24h +0.088%

Price spread now: Hyperliquid against Binance+0.170%7-day average +0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$270.275% of the position

Long on Binance Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.075%+$8 on $10k

Price spread, last 7 days−0.170%−$17 · spread now +0.170%, 7d avg +0.034%

Together, before fees−0.095%+ Points / potential airdropHyperliquid: Season 2 · farm board−$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Hyperliquid is 0.135% dearer against Binance than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance AVAXUSDT	10.927	0.0100	pay 0.0100% / 8h	6h 20m	$115.2M	$381.6M	75x
Short	Hyperliquid AVAX	10.946	0.0195	get 0.0024% / 1h	20m 19s	$36.3M	$39.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Binance. 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 BinancebpFee HyperliquidbpOrdersPrice spread, now +0.170%Rate

Funding earned: $19.92
Price spread: +0.170% → +0.034%: $13.53
Slippage, 4 orders: −$8.49
Fee Binance: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $5.96
Costs to cover: 0.275%
Break-even: 4.9 days

Slippage from Binance: 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 Binance live order book, 1 min ago	0.46 bp	7.3 bp −$7	11.9 bp −$119	41.7 bp −$4,169	139.4 bp −$69.7K
Sell Hyperliquid live order book, 6 min ago	0.46 bp	7.6 bp −$8	13.1 bp −$131	doesn't fit	doesn't fit

AVAX on 36 exchanges

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
Kraken Futures PF_AVAXUSD	−0.0184%	1h	10.933	+0.052%	$3.8M	$11.6M	50x	as long as short
Variational Omni AVAX	−0.0128%	8h	10.917	−0.093%	$3.0M	$2.1M	—	as long as short
Gate AVAX_USDT	−0.0082%	8h	10.928	+0.005%	$14.4M	$28.4M	75x	as long as short
Phemex AVAXUSDT	−0.0035%	8h	10.925	−0.023%	$29.1M	$5.5M	50x	as long as short
SoDEX AVAX-USD	−0.0019%	1h	10.928	+0.005%	$19K	$68K	10x	as long as short
Bybit AVAXUSDT	−0.0010%	8h	10.924	−0.032%	$85.2M	$134.6M	75x	as long as short
Nado AVAX-PERP	−0.0004%	1h	10.925	−0.023%	$278K	$309K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.933	+0.049%	$93K	$110K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	10.933	+0.051%	$5.0M	$6.6M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0002%	1h	10.928	+0.003%	$23K	—	150x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective AVAX/USDC PERP	+0.0033%	1h	10.760	−1.533%	$17K	$151K	12x	as long as short
Lighter AVAX	+0.0096%	1h	10.930	+0.019%	$1.2M	$2.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.929	+0.014%	$20K	$444K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0099%	8h	10.925	−0.025%	$12K	$62	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.929	+0.011%	$2.3M	$1.3M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.929	+0.015%	$275K	$125K	10x	as long as short
Binance AVAXUSDTlong	+0.0100%	8h	10.927	long leg	$115.2M	$381.6M	75x
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.925	−0.023%	$19.5M	$105.7M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.927	−0.004%	$53.1M	$72.9M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.931	+0.032%	$14.3M	$19.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.929	+0.014%	$33.2M	$44.6M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.925	−0.023%	—	$52.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.930	+0.023%	$441K	$535K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.915	−0.113%	$346K	$1.4M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.903	−0.224%	$175K	$661K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.928	+0.005%	$138K	$247K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.934	+0.060%	$236K	$218K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.961	+0.303%	$12K	$778K	20x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.928	0.000%	$325K	$942K	75x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.924	−0.035%	$619K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.922	−0.051%	$251K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0192%	1h	10.905	−0.206%	$860K	$5.2M	50x	as long as short
Hyperliquid AVAXshort	+0.0195%	1h	10.946	+0.170%	$36.3M	$39.0M	10x
BloFin AVAX-USDT	+0.0220%	8h	10.920	−0.068%	$4.8M	$5.3M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.923	−0.039%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0294%	1h	10.929	+0.018%	$231K	—	120x	as long as short